- 1、本文档共34页,可阅读全部内容。
- 2、有哪些信誉好的足球投注网站(book118)网站文档一经付费(服务费),不意味着购买了该文档的版权,仅供个人/单位学习、研究之用,不得用于商业用途,未经授权,严禁复制、发行、汇编、翻译或者网络传播等,侵权必究。
- 3、本站所有内容均由合作方或网友上传,本站不对文档的完整性、权威性及其观点立场正确性做任何保证或承诺!文档内容仅供研究参考,付费前请自行鉴别。如您付费,意味着您自己接受本站规则且自行承担风险,本站不退款、不进行额外附加服务;查看《如何避免下载的几个坑》。如果您已付费下载过本站文档,您可以点击 这里二次下载。
- 4、如文档侵犯商业秘密、侵犯著作权、侵犯人身权等,请点击“版权申诉”(推荐),也可以打举报电话:400-050-0827(电话支持时间:9:00-18:30)。
- 5、该文档为VIP文档,如果想要下载,成为VIP会员后,下载免费。
- 6、成为VIP后,下载本文档将扣除1次下载权益。下载后,不支持退款、换文档。如有疑问请联系我们。
- 7、成为VIP后,您将拥有八大权益,权益包括:VIP文档下载权益、阅读免打扰、文档格式转换、高级专利检索、专属身份标志、高级客服、多端互通、版权登记。
- 8、VIP文档为合作方或网友上传,每下载1次, 网站将根据用户上传文档的质量评分、类型等,对文档贡献者给予高额补贴、流量扶持。如果你也想贡献VIP文档。上传文档
查看更多
LectureRealEstate
Lecture 12: Real Estate Real Estate: an Important Asset Class Until recent stock market boom, single family homes value in US approximated value of entire stock market. Home mortgages 1999: $4.62 trillion Consumer credit is only 1.46 trillion. US National debt held by public is only $3 trillion (Source: FRB, Balance Sheets for US Economy) Real Estate Partnerships as the Major Example of a DPP Real estate limited partnerships represent the most important example of a Direct Participation Program (DPP), a class of investments that also includes oil and gas exploration programs and equipment leasing programs “Direct participation:” DPPs are “flow-throw vehicles” and investors can deduct program losses on personal taxes “Tax shelters” until the Tax Reform Act of 1986: losses used to offset “passive income.” Now, genuine businesses. DPPs escape the corporate profits tax IRS requirements, notably limitation of life Limited Partnership Structure General partner runs the business, does not have limited liability General partner must own at least 1% Limited Partners are passive investors, with limited liability, rights to vote, can replace general partner General partner or associate usually runs the offering to sell units to investors Give additional performance-oriented compensation to the general partner Accredited Investors Regulation D: Accredited investors include individuals with net worth in excess of $1 million or with income in excess of $200,000 ($300,000 joint income) in each of the last two years National Association of Securities Dealers (NASD) requires suitability files and suitability tests for DPPs REITs Real Estate Investment Trusts (REITs) were created by US Congress in 1960 to allow small investors access to real estate investments. Before 1960, public companies that owned real estate would be considered businesses, for which their earnings would be subject to corporate profits tax. So, until 1960, real estate was typically owned by partnerships, not sui
您可能关注的文档
- HR管理跳槽与辞退员工技巧方法技巧案例.ppt
- HSEBulletinWeldingSafely.ppt
- HTML在数字阅读的应用.ppt
- HSE法律法规.ppt
- HPLC梯度分离方法waters.ppt
- HTML第一讲.ppt
- Hspice的使用.ppt
- HTML第三讲.ppt
- HTMLcanvas基本属性与用法介绍.ppt
- HTML基本标记.ppt
- 大学生对同性恋看法调查报告柱状图.doc
- 第10课-《凡尔赛条约》-和《九国公约》.ppt
- 田忌赛马近年原文.doc
- 大学生情绪管理ppt课件-(3).ppt
- IMS标准——精选推荐.pdf
- 完整的书信样板.doc
- 2023年小学“小手拉大手文明齐步走”主题教育实践活动实施方案.docx
- ASIAN DEVELOPMENT OUTLOOK_1-100【搜狗文档翻译_译文_英译中】.docx
- ASIAN DEVELOPMENT OUTLOOK_201-310【搜狗文档翻译_译文_英译中】.docx
- ASIAN DEVELOPMENT OUTLOOK_101-200【搜狗文档翻译_译文_英译中】.docx
文档评论(0)