Best Cash Flow Projection Software?

Question

I realize there have been a few other posts regarding this but i didn't really find any of them useful.

I am to make the leap and buy my first property but am having a tough time deciding which software to go with for my cash flow projections, P and L statements, etc. I would like to use a program that provides templates in excel, where i am able to just punch in numbers and go from there.

I think it would be neat to build my own on excel but I have such little experience with excel and don't really want to spend the time to learn at this moment.

Thanks for reading,
 DuRon

Bill Gulley · Answer

DuRon, if you are not familiar with accounting you don't need anything more than Quick Books. I used it starting out and I could manipulate accounts to provide all I needed for several years. I later went to MAS 90, but that is much more than you'll ever need for RE (I ran mortgages as well and other business activities).  Pro foma accounting can get you in trouble if you don't know what you're doing.

Shanequa J. · Answer

J. Scott has an analysis spread sheet in the BP Fileplace called rental analysis. I use it; it's good.

J Scott · Answer

Not sure exactly what you're looking for?

Do you want something that will help analyze the deals?  Or something that will help track overall business performance?

If it's the former (deal analysis), I agree with Don that simple is better.  Use a basic spreadsheet (I think I have one somewhere on BP for flipping houses) or a piece of paper.

If it's the latter (track business performance), I would recommend QuickBooks -- it will keep all your data in a format that is convenient for both your accountant and to allow you to generate financial statements, etc.

Btw, in terms of the deal you mentioned ($68K purchase and $130K ARV), without more details, it's impossible to know if this is a good or bad deal...though perhaps that wasn't your intent...

Don Konipol · Answer

How large and complicated a property are you buying?  I do almost all calculations in my head; the more complicated ones I do on a napkin!  Spreadsheet works fine, unless yo are an engineer in which case you will need a $15,000 piece of software.

DuRon Netsell · Answer

To be completely honest i guess i'm not entirely sure what I'm looking either but  i was thinking about something fairly simple that calculated financial measures in the spreadsheet with me just plugging in numbers.

I did find almost exactly what I was wanting  from Realdata.com that provided templates from Frank Gallinelli ( waiting for his book in the mail btw) just by typing in Annual Property Operating Data, so thank you Ned and everyone.

J scott- ya i just mentioned that to give you guys an idea of the properties i would be dealing with. I really haven't gotten to look at this property long enough to know details yet.

Dion DePaoli · Answer

Personally for me I am an avid Excel user.  Additionally I have a pretty advanced knowledge of Excel and have written some pretty complex stuff when needed.

Away from a need for accounting software I would say putz around with Excel.  You will find it is really not that hard and it may help you organize yourself as nothing needs to be complex.  Setting up your simple page will force you to think about what your doing.

To make a proforma you can simply take 12 columns and make them your months and in each row put in your numbers, put your labels of the rows on the left.  All you are going to do is use simple arithmetic which if you go to  YouTube you can watch a basic Excel video and be off the races in less than 20 mins.  Pretty sure you can actually watch videos on how to make a proforma too.  Be careful to stay away from more advanced Excel tutor videos.  As you get more comfortable look up more advanced functions.

One other foot note, buying any software application will mean you have to learn how to use it.  If you go purchase something it will likely be more complicated than you need for now anyway since they had to build enough detail into the software to make people want to buy it.

Ned Carey · Answer

DuRon, assuming your first property is a single family as Don said you do not need specialized software. Before I read Don's comment I was thinking a $10 calculator.

In the resources and files area I am sure there are some basic spreadsheets to help you out.

A common spreadsheet that is somewhat standard in the industry is called an APOD (Annual Property Operating Data). This is much more common in the commercial market.

You mentioned P&L statements. If you want something for accounting I would suggest Quickbooks. Most accountants can work with those files easily.

DuRon Netsell · Answer

Currently looking at 3 bdrm SFH's asking around 60K. I'm doing a second walk through on a 3bd/3bth 2100 sqft HUD tomorrow with an ARV that i would guess around 130k and listing price of 68k. I'm hoping to flip about 10-15 SFH within the next year or so.

I could probably do it in my head or on paper by hand but i am hoping to be organized and professional from the beginning

Best Cash Flow Projection Software?

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