Private real estate investment is a typical one-shot decision problem for personal investors due to the huge investment expense and the fear of substantial loss. There is only one outcome for a one-shot decision problem. The private real estate investment problem is analyzed within a one-shot decision framework. The procedure for a one-shot decision consists of two steps. In the first step, for each alternative, some states of nature, which are called focus points, are selected amongst all states of nature based on the attitudes of decision makers on uncertainty. In the second step, alternatives are evaluated based.
