Investor calculator to analyze costs in a 400 unit multi-family?

[Robin Shelley]

Which RE investor calculator do I use to analyze all costs in a complete pro forma correctly, before buying a commercial 400 unit multi-family property?

[Andrew Johnson]

Robin Shelley This is gonna sound awful mean or passive aggressive but if you’re looking at a 400-unit complex you shouldn’t be asking the question. Even at a (cheap) $20K a unit it’s $8M purchase price. You throw around that kind of cash the pro-forma (or any deal analyzer) is a small piece of the pie.

You can plug some numbers into a pro-forma, juxtapose them against a T12, and see where that gets you. At 400 units you’re almost certainly dealing with professional management, part-time and full-time employees, maintenance on amenities (pool, gym, etc.) so it’s a little tough to put all of those into a simple deal calculator. If you do, odds are there will be huge differences. Then you have to figure out the “why”.