Does this spreadsheet or software exist?

Does this spreadsheet or software exist?

Jon S.Pro Member
Investor · Tampa, FL · Member since 2015 · 530 posts · 92 votes

I want to have a good way to predict what my capital will look like - before - during - and after - a purchase, renovation and final refinance. I'm looking for a spreadsheet or software that will not only show cash flow, but also the net effect on available sources of capital. When considering the costs associated with multiple sources of finance, ie, leveraging a property, using credit cards, private lending, car loans, HELOCs, signature loans, hard money, it gets very complicated very fast to see the total picture on how much the total financial package is going to add to the cost of acquiring and renovation of the property. When all that is added in, there is a good chance that even a good deal becomes a bad deal, that a low price becomes a high price, or that a positive cash flow becomes a neg cash flow. I would like to input purchase price, renovation expenses, as well as interest. points, and fees on multiple sources of creative finance, ie, short term use of various sources of financing, such as hard money until a refinance is possible? I would like to also be able to input the estimated ARV, how many months until the refinance, the terms of the refinance, etc, so that I can estimate the total financial picture that will exist once renovation, rental is occupied and refinance is complete. Does it exist? In the meantime, I'm just assuming it doesn't exist and therefore working on these questions through spreadsheets. I'm making good progress, but the time it takes and the new issues that crop up everyday is flabbergasting to say the least. But has someone already done a good job of this and is it available?

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Investor · Milwaukee, WI · Member since 2015 · 28 posts · 2 votes
10y

Jon,

Have you tried the BP analysis tools? What are your thoughts on that software?

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  • Investor · Milwaukee, WI · Member since 2015 · 28 posts · 2 votes
    10y

    Jon,

    Have you tried the BP analysis tools? What are your thoughts on that software?

  • CPA · Pasadena, CA · Member since 2015 · 170 posts · 46 votes
    10y
    Hire a CPA; I know a good one. ;-) I could recommend some software, but honestly they require some understanding of basic accounting concepts in order to use them. Ever take an accounting course? Do you understand a trial balance or debits and credits? If so, I'd be happy to make some recommendations.
  • Rental Property Investor · Mercer Island, WA · Member since 2008 · 22k+ posts · 14k+ votes
    10y

    Software wise, I think Excel or a similar spreadsheet is the right answer.  A piece of software with all the possible inputs you're mentioning would be just as complex as doing it in Excel.

  • Flipper · Saint Louis, MO · Member since 2015 · 9 posts · 1 vote
    10y
    Jon - I just picked up a spreadsheet created by: Houseflippingspreadsheet.com In fairness, I have yet to use it, hope to start exploring it later this week. The company was a pleasure to work with too. I was having some issues with the basic version I bought, and the owner didn't hesitate to Upgrade me to the pro version free of charge. Hope this might help your needs - let us know if it did/does. Best, Dave
  • Jon S.Pro Member
    OP
    Investor · Tampa, FL · Member since 2015 · 530 posts · 92 votes
    10y
    Originally posted by @Jon Holdman:

    Software wise, I think Excel or a similar spreadsheet is the right answer.  A piece of software with all the possible inputs you're mentioning would be just as complex as doing it in Excel.

    Thanks Jon Holdman. I am making progress with the excel spreadsheet. I agree with someone who posted to a similar question, who replied that building a spreadsheet yourself makes it more likely you will understand what the results convey. I think building my own is a good idea. On the other hand, it gets very big and nasty very fast. That's part of the reason why I was asking if someone else already did this, because there really are a lot of variables to consider.  For now, spreadsheet it is! :)

  • Jon S.Pro Member
    OP
    Investor · Tampa, FL · Member since 2015 · 530 posts · 92 votes
    10y
    Originally posted by @Dave Edwards:

    Jon - I just picked up a spreadsheet created by:

    Houseflippingspreadsheet.com

    In fairness, I have yet to use it, hope to start exploring it later this week. The company was a pleasure to work with too. I was having some issues with the basic version I bought, and the owner didn't hesitate to
    Upgrade me to the pro version free of charge.

    Hope this might help your needs - let us know if it did/does.

    Best,
    Dave

     Thank you Dave Edwards. It's good to know and I will look into that one. Once you have tried it please post and add a tag for me to see your thoughts. - Jon

  • Jon S.Pro Member
    OP
    Investor · Tampa, FL · Member since 2015 · 530 posts · 92 votes
    10y
    Originally posted by @Sean Autry:

    yHire a CPA; I know a good one. ;-)

    I could recommend some software, but honestly they require some understanding of basic accounting concepts in order to use them.

    Ever take an accounting course? Do you understand a trial balance or debits and credits? If so, I'd be happy to make some recommendations.

    Thanks Sean. I think a CPA is a great idea. However, I can't go around calling a CPA at midnight, while I am analyzing a deal. I don't think I would like the advice they would give at that hour!!! :) That said, I'm always open to talking with a CPA who is particularly savvy with real estate - I'm guessing you know one :)  

  • Jon S.Pro Member
    OP
    Investor · Tampa, FL · Member since 2015 · 530 posts · 92 votes
    10y
    Originally posted by @Christopher Townsend:

    Jon,

    Have you tried the BP analysis tools? What are your thoughts on that software?

     Thanks Christopher. I don't think I have done that yet. Tell more! :) 

  • CPA · Pasadena, CA · Member since 2015 · 170 posts · 46 votes
    10y

    @Jon S.- I agree with whoever suggested you build your own, if you're comfortable doing that.  You'll understand it (because you built it) and it will be customized to your preferred method and presentation of analysis.

    I would suggest one thing- KEEP IT SIMPLE.  Like you said, it can get very complicated very fast, and that's when mistakes happen (faulty logic, bad formulas, circular references, etc).

    If you're analyzing a portfolio or how a potential property might fit into your portfolio, or if a single investment requires that rigorous level of analysis (multiple scenarios, blended scenarios), you might need something more complex.  Then I suggest you seek a professional.

  • Jon S.Pro Member
    OP
    Investor · Tampa, FL · Member since 2015 · 530 posts · 92 votes
    10y
    Originally posted by @Sean Autry:

    @Jon S.- I agree with whoever suggested you build your own, if you're comfortable doing that.  You'll understand it (because you built it) and it will be customized to your preferred method and presentation of analysis.

    I would suggest one thing- KEEP IT SIMPLE.  Like you said, it can get very complicated very fast, and that's when mistakes happen (faulty logic, bad formulas, circular references, etc).

    If you're analyzing a portfolio or how a potential property might fit into your portfolio, or if a single investment requires that rigorous level of analysis (multiple scenarios, blended scenarios), you might need something more complex.  Then I suggest you seek a professional.

     Thanks Sean! 

    Jon

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