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Real Estate Investment Analysis: New Developments in Traditional Leverage Concepts

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  • Douglas S. Bible
  • Stephen E. Celec

Abstract

The advantages of utilizing leverage in real estate investments has received much attention in the past, but little guidance has been offered that shows the investor the most opportune leverage position for a given investment alternative. Traditional leverage concepts are explored in this article, prior to developing a financial indifference point model and a continuous‐function degree of financial leverage (DFL) formula. The indifference point and DFL as shown here are relatively simple to calculate and provide additional insights into risk, return and leverage concepts for real estate investments.

Suggested Citation

  • Douglas S. Bible & Stephen E. Celec, 1980. "Real Estate Investment Analysis: New Developments in Traditional Leverage Concepts," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 8(2), pages 198-206, June.
    • Handle: RePEc:bla:reesec:v:8:y:1980:i:2:p:198-206
    DOI: 10.1111/1540-6229.00212
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    Cited by:

    1. Seung Dong You, 2014. "The Leveraged City," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 42(4), pages 1042-1066, December.
    2. Hung, Chih-Hsing & Chen, Ming-Chi & Lin, Wen-Yuan, 2014. "The relationship with REITs and bank loans: Capital structure perspectives," Finance Research Letters, Elsevier, vol. 11(2), pages 140-152.

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