These models provide the basic accounting picture for a real estate project. By providing Balance Sheet, Income Statement, and Statement of Cash Flow an analyst can derive forecasted ratios and calculate depreciation and after-tax returns. These statements, while often not found in traditional real estate financial models, provide an accounting picture of the real estate asset.
Hotel Asset (Chapter 11)
This model is unique, but the text would not be complete without its inclusion. Hotel assets differ from traditional income-producing models due to terms of lease, i.e. one-day. The schedule portion, top rows, are adjusted to account for days of month. Also, hotels typically have alternate forms of income, e.g. restaurant, internet, telephone, etc. They combine operating businesses with real estate. This model provides a three-year lease-up period and scalable revenue and expense items.
N-Unit for Sale (Chapter 10)
Another “bolt-on” excel sheet. This is similar to the “N” Unit Rent Roll but designed to accommodate “For Sale” product. This sheet separates the units by revenue draw schedules as well as a draw schedule. It is intended as a “bolt-on” to accommodate larger mixed-use models.
Development Page (Chapter 9)
As was the case with the “N-unit basic sheet”, the Development sheet is a standalone single sheet meant to “bolt-on” to existing spreadsheet models. This will increase the capability of existing real estate financial models by adding a Development section. The Development Page is intended as a “bolt-on” addition to existing real estate models and specifically designed to be modular, i.e. stand-alone.