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Файл:English Speech Practice. Real Estate. Учебное пособие
.pdf
11
Ex. 1. Fill in the missing letters according to the word transcription.
1. l_______e [ˈliːvərɪdʒ]
2. l_______d [ˈlændlɔːd]
3. e_______e [ɪˈlɪmɪneɪt]
4. f_______r [ˈflɪpə(r)]
5. m_______e [ˈmɔːɡɪdʒ]
6. p_______e [ˈpeɪʃ(ə)ns]
7. s_______l [səbˈstænʃ(ə)l]
8. m_______e [ˈmeɪnt(ə)nəns]
9. a_______n [ɔːltəˈreɪʃ(ə)n]
10. t_______y [ˈtɪpɪkəlɪ]
Ex. 2. Mark the statements as True or False.
1. One of the primary ways in which investors can make money
in real estate is to become a landlord of a rental property. (T__/ F__)
2. Owning rental properties can be a great opportunity for individuals with no renovation skills. (T__/ F__)
UNIT 2
Simple Ways to Invest in Real Estate
Pre-text exercises
12
3. People who are flippers, buying up undervalued real estate,
fixing it up, and selling it, can also earn income. (T__/ F__)
4. Real estate doesn’t provide regular income and maximizes
capital through leverage. (T__/ F__)
5. House flipping is for people with significant experience in
real estate valuation, marketing, and renovation. (T__/ F__)
Ex. 3. Match the terms with their definitions.
1.
House flipping
A.
a professional judgement
about how much money
something is worth.
2.
DIY
B.
typically refers to buyers who
purchase distressed properties, fix them up, and then resell them for a profit.
3.
Landlord
C.
the activity of decorating,
building, and renovating at
home by oneself rather than
employing a professional.
4.
Valuation
D.
a critical component of running a business from day to
day and financing its future
growth.
5.
Capital
E.
a person who rents out land,
a building, or accommodation.
13
Ex. 1. Read and translate the text, do the exercises given below.
1. Rental Properties
Aspiring real estate owners can buy a property using leverage,
paying a portion of its total cost upfront, then paying off the balance
over time. One of the primary ways in which investors can make
money in real estate is to become a landlord of a rental property. Owning rental properties can be a great opportunity for individuals with
do-it-yourself (DIY) and renovation skills, and have the patience to
manage tenants, and remember about potential property damage from
tenants. It provides regular income and maximizes capital through leverage. However, this strategy does require substantial capital to finance up-front maintenance costs and to cover vacant months.
Text 1
14
2. House Flipping
People who are flippers, buying up undervalued real estate, fixing it up, and selling it, can also earn income. House flipping is for
people with significant experience in real estate valuation, marketing,
and renovation. House flipping requires capital and the ability to do,
or oversee, repairs as needed. Real estate flippers are distinct from
buy-and-rent landlords. Real estate flippers often look to profitably
sell the undervalued properties they buy in less than six months.
Pure property flippers often don't invest in improving properties.
Therefore, the investment must already have the intrinsic value needed
to turn a profit without any alterations, or they'll eliminate the property
from contention.
Flippers who are unable to swiftly unload a property may find
themselves in trouble because they typically don’t keep enough un-
committed cash on hand to pay the mortgage on a property over the
long term. This can lead to continued, snowballing losses.
There is another kind of flipper who makes money by buying
reasonably priced properties and adding value by renovating them.
This can be a longer-term investment, where investors can only afford
to take on one or two properties at a time.
Ex. 2. Fill in the missing words according to the text.
flippers
income
long-term
experience
primary
1. Owning rental properties provides regular _________ and
maximizes capital through leverage.
2. House flipping is for people with significant _________ in
real estate valuation, marketing, and renovation.
15
3. Pure property _________ often don't invest in improving
properties.
4. This can be a _________ investment, where investors can
only afford to take on one or two properties at a time.
5. One of the _________ ways in which investors can make
money in real estate is to become a landlord of a rental property.
Ex. 3. Write a word is similar in meaning to the underlined part.
1. Owning rental properties can be a great opportunity for indi-
viduals who have the patience to manage lodgers.
2. However, this strategy does require substantial capital to fi-
nance up-front maintenance expenses and to cover vacant months.
3. House flipping requires money and the ability to do, or over-
see, repairs as needed.
4. This can lead to continued, multiplying losses.
5. This can be a longer-term contribution, where investors can
only afford to take on one or two properties at a time.
Ex. 4. Answer the following questions according to the text.
1. How can real estate owners buy a property?
2. Owning rental properties can be a great opportunity for individuals with what skills? What skills are necessary for people to own
rental properties?
3. How can flippers earn income?
4. Why flippers who are unable to swiftly unload a property may
find themselves in trouble?
5. How can flippers add value to the property?
16
1. Create the situation due to your specialized routine, using the
information from the text.
2. Design your own exercises, expressing the main idea of the
text using these platforms: www.wordwall.net, www.quizlet.com
3. Create and analyze the problem situation, study all key issues,
find the possible variants to solve the problem.
Project work
17
Ex. 1. Fill in the missing letters according to the word transcription.
1. p_______t [ˈprɒdʒekt]
2. e_______e [ˈestɪmeɪt]
3. f_______n [ˈfrækʃn]
4. b_______t [ˈbʌdʒɪt]
5. b_______n [ˌbaɪfəˈkeɪʃn]
6. r_______e [rɪˈsɔːs]
7. q_______y [ˈkwɒntɪtɪ]
8. l_______y [ˈlɪnɪəlɪ]
9. c_______n [ˈsɜːt(ə)n]
10. m_______y [məˈtʃʊərətɪ]
Ex. 2. Mark the statements as True or False.
1. A real estate project doesn’t differ from any other project.
(T__/ F__)
2. In a real estate project, construction cost includes design
costs, bid tendering costs, approval costs and control costs. (T__/ F__)
UNIT 3
Project Management
in Real Estate Industry
Pre-text exercises
18
3. Though mathematically cost estimates are often based on
physically measuring, it is observed that costs do not always vary linearly. (T__/ F__)
4. Construction project usually has a span of 1-2 years of completion. (T__/ F__)
5. Scale economies and diseconomies doesn’t have an impact.
(T__/ F__)
Ex. 3. Match the terms with their definitions.
1.
Inflation index
A.
the art or process of deciding
how something will look,
work, etc. by drawing plans,
making computer models, etc.
2.
Design
B.
the total amount of money
being transferred into and out
of a business.
3.
Approval cost
C.
the forecasting and evaluation
of financial risks together
with the identification of procedures to avoid or minimize
their impact.
4.
Risk management
D.
any fees, costs or expenses
associated with the obtaining
or making of the Required
Approvals.
5.
Cash flow
E.
represents a ratio of the price
of an item or a group of
many items at one time to
the price of the item or items
at another time.
19
Ex. 1. Read and translate the text, do the exercises given below.
Project management is an art of setting up all the components of
a project together to work in sync. A real estate project differs from
any other project in terms of the number of different components it
involves. The easiest way to estimate the cost is to break down the
project into tasks.
Once tasks are defined and resources are assessed with their respective quantities are mapped, it is then time to assign unit costs. The total
cost is then determined by summing up the costs incurred in each task.
The various types of costs linked to any resource can be in terms of human, material, labor and expenses. In a real estate project, construction
cost is only a fraction of the total cost of the project. These include design
costs, bid tendering costs, approval costs and control costs.
Design of a real estate project includes initial design, master design, and detail design plans. Designing is a very critical component
of a construction project which gives direction to the scope of work.
Text 1
20
Based on the detailed designs and specifications, a detailed scope can
be defined. Basis the scope, items, and quantities of work are mapped
to the scope. Though mathematically often cost estimates are based on
physically measuring like the floor area, volume or length, it is observed that costs do not always vary linearly.
Scale economies and diseconomies do have an impact which in
turn results in a range applicable to all construction projects. While
mapping the basic costs, it is also important for a project manager to
take into account the joint costs involved. An allocation factor for cost
bifurcation must be taken into account for accurate estimates.
A project manager should also not forget that a construction project has a span of 3−4 years of completion. Thus cost indices must be
measured and thus aggregated to a price index which may be followed
based on historical data. The inflation index is another important aspect to be considered while cost estimation. Since construction costs
are incurred over a period of 3−4 years, it is also necessary to determine the cash flows. This helps in determining the amount of money
that would be spent over a certain period of time.
Real estate projects are thus more likely to come in on time and
on budget when effective project management techniques are followed. Strong project management methodologies give teams more
flexibility, increasing the likelihood of success. This also improves the
maturity level of organizations in terms of project management and
risk management methodologies.
Ex. 2. Fill in the missing words according to the text.
completion
allocation
inflation
critical
summing
1. The _________ index is another important aspect to be con-
sidered while cost estimation.
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