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Amortization Table (Chapter 5)
A scalable amortization table providing three types of loan structures: (1) Constant Payment Mortgage, (2) Interest Only, and (3) Custom Amortization. Additional functionality includes an interest only period and payment dates.
Single Family (Chapter 6)
The basic model for underwriting single-family rental units on a pre-tax basis. Provides simple and concise financial characteristics for individual units.
5-Unit Multi-family (Chapter 7)
Expanding upon the single-family model, this model is scaled from the single-family. It provides users the flexibility to include additional units with the analysis.
“N” Unit Rent Roll (Chapter 8)
This model has incorporated the N-unit basic sheet within the existing base model. This model has the traditional valuation method for gross sales price.
N-unit basic sheet - This single sheet is standalone and meant to “bolt-on” to existing spreadsheets models, e.g. 5-Unit Multifamily, to scale pro formas. The addition of this sheet to existing models provides a structured rent roll and scalability to “N” units, with some minor adjustments to the existing real estate pro forma.
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.
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.
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.
Accounting Statements (Chapter 12)
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.
H2O Structure (Chapter 13)
Another stand-alone “bolt on” sheet. The Waterfall bifurcates project returns by risk tranche. This sheet is added to existing models and provides increased capabilities. Two files are included, the single stand-alone sheet and the model with the waterfall included.
Stochastic Modelling (Chapter 14)
Crystal Ball Construction - A single page example of Crystal Ball used for an analysis. This is meant as a “practice” model and for demonstration.
Crystal Ball Sheet - This stand-alone sheet which can be “Bolted-On” to existing spreadsheet models to enable stochastic modelling of inputs.
Crystal Ball Add-on 5-Unit - The 5-unit real estate pro forma has been enhanced with Monte Carlo and Latin hypercube simulation of Crystal Ball. The basic Crystal Ball “Bolt-On” page has been added and the capability of stochastic risk quantification included within an existing spreadsheet model.
Optimization (Chapter 15)
Single-page example introducing users to Optimization. This page introduces readers to Decision Variables utilized in real estate architecture. Optimization allows analysts and owners to determine the optimal unit mix during the planning state or renovation state of a real estate project.