Although this book has been reprinted recently, all the data dates back to the late-1990's. Social and economic data are perhaps presented for illustrative purposes only, however, it is a bit disheartening.

There are some interesting project data, financial models and checklists, but frankly, the reader could figure those out on his/her own with some common sense and marginal experience in the industry.

Bottom line -- my suggestion is to review the book at the public library before you buy.

119 of 128 found the following review helpful:


An Excellent Overview Of The Development Process  Apr 23, 2003
I am a 66 year old developer with several successful projects under my belt. This is a fine book for beginning, intermediate, and yes, advanced developers. The best I've ever read, and I've got bookshelves full of them. Also, for a modest fee, you can download from the publisher the software used for the financial illustrations in the book. I had to learn this material the hard way, because when I started out, there weren't any good books on development. If you want to be a developer, start here. If you're an experienced developer, you'll learn a lot from this book. I congratulate the authors for putting in such an immense amount of work.

23 of 28 found the following review helpful:


Academic. A text book that needs a refresher for today's issues.  Apr 23, 2006 By Matthew Shanaberger "Matt Shanaberger"
Rick is first and foremost a professor, so the book follows an academic format best suited for the young student of development seeking a broad introduction to the process. Of course, the real world is more complex than any text book could ever capture. That said, the book has become a bit dated for the contemporary developer, whose world is increasingly governed by investors, special interest groups and oft ill-informed government officials! The book delivers fundamental building blocks in a logical, sequential process. The examples cited are, as another reviewer pointed out, on average probably 14 year old analogies. Perhaps the largest ommission is an accurate portrayal of what a developer really does - assembles a diverse team of people together to share in a singular vision, then rule over this creative, temperamental team with an iron fist in velvet gloves. A chapter called 'Cat Herding' would best summarize that world.

My recommendation is, buy the book, join the Urban Land Institute, attend your meetings, be a good listener, and dont think reading one book will set you off on your path to that infamous (maybe fictitious unless you happen to be the primary investor in an opportunity fund!)in that $100,000,000 net profit deal!

2 of 2 found the following review helpful:


The Bible of the Business  Jan 10, 2008 By TheGoldenGreek79
This is written by THE authority on real estate finance, Rick Peiser, and is published by ULI....An indespensible handbook for first time developers, if you are interested in developing real estate, READ THIS BOOK. Great for students of the industry and those looking to break into it.....

6 of 12 found the following review helpful:


Excellent starter book  Oct 02, 2005 By AlexTheGreat1 "Alex"
Excellent starter book. Should be required reading for every real estate professional. Wished I'd had about 5 years ago.