Analyzing property excel, please correct my formulas

[Shiv Dutta]

Hello everyone, 

I use my excel (which I am working on from sometime now), to analyze properties. I am still working on it. :)

https://drive.google.com/file/... this is for a sample property report from my Excel.

Can you please look into the PDF and see if I am doing the calculations correctly. the formulas are also part of the report.

you might like it. I know I can use the BP calculators, but I am still saving my few bucks.

thanks in advance

Shiv

[Mary Cronin]

It's kind of hard to look at and see what you're including or missing. 

If this is a multifamily (I think yes?) then you're missing .... 

Back taxes (if any; check county website; last one I looked at had $22k in back taxes; should be in title report/policy) 

mortgage arrearages (if any)

cost of forming an entity (if needed) & tax (CA is minimum $800; why don't I move?)

acquisition fee (usually 5% if you're buying with partners or investors) 

Credits at closing ... 

repair allowance (maximum of 5% at most banks) 

prepaid rents (if closing on the 6th of month then 25/30 of rents go to you) 

first & last months rents (if charged to tenants; less whatever was used from 1st Months)

Security deposits (go to you at closing) 

Pet deposits (go to you at closing) 

Income ... 

Storage income (if tenants pay for storage sheds/lockers etc) 

Laundry income (you had laundry XP but not income) 

Vending income (if property has vending machines) 

Expenses ... 

Internet (you may need to have this if laundry machines, security cameras, etc etc need to be accessed remotely; with a big enough property companies may pay you to be exclusive - larger apartment complexes, MHPs, RVPs and marinas) 

Payroll, Payroll taxes, Employee benefits & workers' comp insurance (if onsite employees)

Vehicle expenses, repairs, licenses, gas & oil & insurance (even for cushman carts for maintenance people)

Licenses 

Bank charges (NSF checks etc; I include an allowance for this in expenses just in case; also credit/debit card fees if tenants pay with cards) 

That's all I noticed.