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					                                              INVESTMENT PROPERTY ANALYZER - Static Sample (
PROPERTY INFORMATION
Purchase Price                              $100,000   CLOSING COST ESTIMATOR (Carries over to Line 5 to the
Down Payment                                 $10,000   Title Insurance:               $350
Closing Costs (Non-Financed)                  $6,275   State Transfer Tax:          $1,000
Loan Amount                                  $90,000   Local Transfer Tax:               $0
Number of Years on Loan                           30   Mortgage Application Fee:      $350
Interest Rate                                 5.50%    Mortgage Points:                2.00
Principal and Interest                          $511   Recording Fees:                  $50
Initial Market Value (Enter your choice)    $110,000   Home Inspection Fee:           $350
Capitalization Rate                             10%    Documentation Fee:               $50
Income Based Value (Using cap rate)         $47,520    Attorney Fees:                 $150
Depreciable Percentage of Property              90%
FINANCIAL ANALYSIS                         Year 1         Year 2       Year 3       Year 4
INCOME & EXPENSES
Monthly Rent                                  $1,100         $1,144       $1,190       $1,237
Property Tax                                    $150           $159         $169         $179
Hazard Insurance                                 $85            $88          $92          $96
Private Mortgage Insurance (PMI)                 $38             $0           $0           $0
Landlord-Paid Utilities                         $120           $125         $130         $135
Vacancy Allowance (percentage)                4.00%             4%           4%           4%
Maintenance / Advertising                        $50            $52          $54          $56
Trash/Water/Sewer                                $60            $62          $65          $67
Management Fee                                    $0             $0           $0           $0
Miscellaneous Fees                                $0             $0           $0           $0
Condo/Association Fees                          $120           $125         $130         $135
Net Rent (Gross Taxable Income)                $434           $487         $503         $520
Monthly Interest                                $410           $404         $398         $392
Monthly Depreciation                            $273           $273         $273         $273
Pre-Tax Net Monthly Income                    ($249)         ($190)       ($168)       ($145)
CASH FLOW
Federal Income Tax Rate                         28%            28%          28%          28%
State Income Tax Rate                         3.00%          3.00%        3.00%        3.00%
Local Income Tax Rate                         0.00%          0.00%        0.00%        0.00%
Total Monthly Income Tax                       ($77)          ($59)        ($52)        ($45)
Monthly Pre-Tax Cash Flow                      ($78)          ($24)         ($8)          $9
Monthly After-Tax Cash Flow                     ($0)           $35          $44          $54
FUTURE VALUE, EQUITY GROWTH &
ACCUMULATED YIELD
Property Appreciation Rate                       6%             6%           6%           6%
Inflation Rate (For rent and expenses)           4%             4%           4%           4%
Value of Property (End of Year)            $116,600        $123,596     $131,012     $138,872
Annual Mortgage Reduction                    $1,212          $1,281       $1,353       $1,429
Accumulated Mortgage Reduction               $1,212          $2,493       $3,846       $5,275
Annual After-Tax Cash Flow                      ($3)          $417         $530         $645
Accumulated After-Tax Cash Flow                 ($3)          $414         $944       $1,589
Annual Equity Build-up                      $7,812          $8,277       $8,769       $9,290
Accumulated Equity Build-up                 $7,812         $16,089      $24,858      $34,148
Accumulated Cash + Equity Yield ROI         47.98%         101.40%      158.54%      219.58%
NET SALE PROCEEDS
Sale Price                                 $116,600        $123,596     $131,012     $138,872
Mortgage Balance                                     $88,788        $87,507        $86,154        $84,725
Sales Commission (6% of sale)                         $6,996         $7,416         $7,861         $8,332
Miscellaneous Fees (2% of sale)                       $2,332         $2,472         $2,620         $2,777
Net Settlement Proceeds                             $18,484        $26,201        $34,377        $43,038
Taxable Capital Gains                                   $997        $7,433        $14,256        $21,488
Accumulated Depreciation                              $3,273         $6,545         $9,818        $13,091
Tax on Accumulated Depreciation                       $1,015         $2,029         $3,044         $4,058
Federal Capital Gains Tax                               $199        $1,487         $2,851         $4,298
State Capital Gains Tax                                  $30          $223           $428           $645
Local Capital Gains Tax                                   $0            $0             $0             $0
Total Taxes                                          $1,244         $3,739         $6,322         $9,000
Net After-Tax Profit                                   ($247)       $3,695         $7,933        $12,487
Total Profit (Includes net cash flow)                  ($250)       $4,112         $8,463        $13,132
Net ROI (After-tax)                                      -2%           25%            52%            81%
Net Compound Annual ROI (After-tax)                   -1.54%        11.92%         14.98%         15.94%

Copyright 2004 by Joseph S. Kamenar. All rights reserved. No part of this worksheet may be reproduced, transmitted by any m
or otherwise without written permission from the author.
If you were given or sold this worksheet by someone other than the author, please report it to JoeKamenar@aol.com
LYZER - Static Sample (Non-Interactive)

Carries over to Line 5 to the left)
             Pro-Rated Taxes:                      $800
             Pro-Rated Insurance:                  $550
             Pro-Rated Water/Sewer:                $200
             Tax Escrow:                           $350
             Miscellaneous Fees:                     $0
             Appraisal Fee:                        $275
             Repair Costs (optional):                $0

             Total Closing Costs:                 $6,275
                                                             110000
                Year 5          Year 6         Year 7      Year 8      Year 9      Year 10     Year 11

                    $1,287            $1,338      $1,392     $1,448       $1,505      $1,566      $1,628
                      $189              $201        $213       $226         $239        $253        $269
                       $99              $103        $108       $112         $116        $121        $126
                        $0                $0          $0         $0           $0          $0          $0
                      $140              $146        $152       $158         $164        $171        $178
                       4%                4%          4%         4%           4%          4%          4%
                       $58               $61         $63        $66          $68         $71         $74
                       $70               $73         $76        $79          $82         $85         $89
                        $0                $0          $0         $0           $0          $0          $0
                        $0                $0          $0         $0           $0          $0          $0
                      $140              $146        $152       $158         $164        $171        $178
                     $537              $555        $573       $592         $611        $630        $651
                      $385              $378        $371       $363         $354        $345        $336
                      $273              $273        $273       $273         $273        $273        $273
                    ($121)             ($96)       ($70)      ($44)        ($16)        $12         $42

                       28%              28%         28%         28%         28%          28%         28%
                     3.00%            3.00%       3.00%       3.00%       3.00%        3.00%       3.00%
                     0.00%            0.00%       0.00%       0.00%       0.00%        0.00%       0.00%
                      ($37)            ($30)       ($22)       ($14)        ($5)          $4         $13
                       $26              $44         $62         $81       $100         $119        $140
                       $64              $74         $84         $94       $105         $116        $127


                       6%                6%          6%         6%           6%          6%          6%
                       4%                4%          4%         4%           4%          4%          4%
                  $147,205          $156,037    $165,399   $175,323     $185,843    $196,993    $208,813
                    $1,510            $1,595      $1,685     $1,780       $1,881      $1,987      $2,099
                    $6,785            $8,381     $10,066    $11,846      $13,726     $15,713     $17,812
                     $763              $883      $1,005     $1,130       $1,258      $1,388      $1,520
                   $2,352            $3,234      $4,240     $5,370       $6,628      $8,016      $9,535
                   $9,842           $10,427     $11,047    $11,704      $12,400     $13,137     $13,918
                  $43,990           $54,418     $65,465    $77,169      $89,569    $102,706    $116,625
                  284.74%           354.24%     428.29%    507.15%      591.07%     680.32%     775.18%

                  $147,205          $156,037    $165,399   $175,323     $185,843    $196,993    $208,813
                  $83,215        $81,619        $79,934      $78,154    $76,274     $74,287     $72,188
                   $8,832         $9,362         $9,924      $10,519    $11,151     $11,820     $12,529
                   $2,944         $3,121         $3,308       $3,506     $3,717      $3,940      $4,176
                 $52,214        $61,935        $72,233      $83,143    $94,702    $106,947    $119,920
                 $29,153        $37,279        $45,892      $55,022    $64,700     $74,959     $85,833
                  $16,364        $19,636        $22,909      $26,182    $29,455     $32,727     $36,000
                   $5,073         $6,087         $7,102       $8,116     $9,131     $10,145     $11,160
                  $5,831         $7,456         $9,178      $11,004    $12,940     $14,992     $17,167
                    $875         $1,118         $1,377       $1,651     $1,941      $2,249      $2,575
                      $0             $0             $0           $0         $0          $0          $0
                 $11,778        $14,661        $17,657      $20,772    $24,012     $27,386     $30,902
                 $17,375        $22,618        $28,235      $34,251    $40,688     $47,573     $54,931
                 $18,138        $23,500        $29,241      $35,381    $41,946     $48,960     $56,451
                    111%           144%           180%         217%       258%        301%        347%
                  16.16%         16.06%         15.83%       15.53%     15.21%      14.89%      14.58%

oduced, transmitted by any means, electronic, mechanical,

Kamenar@aol.com
Year 12     Year 13     Year 14     Year 15

   $1,693      $1,761      $1,832      $1,905
     $285        $302        $320        $339
     $131        $136        $142        $147
       $0          $0          $0          $0
     $185        $192        $200        $208
      4%          4%          4%          4%
      $77         $80         $83         $87
      $92         $96        $100        $104
       $0          $0          $0          $0
       $0          $0          $0          $0
     $185        $192        $200        $208
    $671        $692        $714        $736
     $326        $316        $305        $293
     $273        $273        $273        $273
     $72        $104        $137        $170

      28%         28%         28%         28%
    3.00%       3.00%       3.00%       3.00%
    0.00%       0.00%       0.00%       0.00%
      $22         $32         $42         $53
    $160        $181        $203        $225
    $138        $149        $161        $172


      6%          6%          6%          6%
      4%          4%          4%          4%
 $221,342    $234,622    $248,699    $263,621
   $2,217      $2,342      $2,474      $2,614
  $20,029     $22,371     $24,845     $27,459
  $1,654      $1,790      $1,929      $2,069
 $11,190     $12,980     $14,909     $16,978
 $14,746     $15,623     $16,552     $17,536
$131,371    $146,993    $163,545    $181,081
 875.95%     982.94%    1096.49%    1216.95%

 $221,342    $234,622    $248,699    $263,621
  $69,971     $67,629     $65,155     $62,541
  $13,280     $14,077     $14,922     $15,817
   $4,427      $4,692      $4,974      $5,272
$133,663    $148,223    $163,649    $179,991
 $97,359    $109,577    $122,528    $136,257
  $39,273     $42,545     $45,818     $49,091
  $12,175     $13,189     $14,204     $15,218
 $19,472     $21,915     $24,506     $27,251
  $2,921      $3,287      $3,676      $4,088
      $0          $0          $0          $0
 $34,567     $38,392     $42,385     $46,557
 $62,792     $71,185     $80,143     $89,699
 $64,446     $72,976     $82,072     $91,769
    396%        448%        504%        564%
  14.28%      13.99%      13.71%      13.45%
                                                        PROPERTY ANALYZER INSTRUCTIONS
NOTE: These instructions are for the real version of the program. What you have here is a static sample. You can not change a
This worksheet will provide you with the information you need to evaluate an investment property in terms of income, expenses
and return on investment (ROI).
It goes out to 15 years. In reality, anything over that is just a guess, as the out years are based on an assumption of inflation an
which may differ greatly from your original assumptions.
Note that you can only enter data into the white fields. The grey and green areas are computed by the program.
If you have any questions about this program, send them to JoeKamenar@aol.com.
Here is a line-by line explaniation of what each item is for.
   LINE #                     ITEM NAME
      3      Purchase Price
      4      Down Payment

     5      Closing Costs (non-financed)




     6      Loan Amount

     7      Number of Years on the Loan
     8      Interest Rate



     9      Principal and Interest

    10      Market Value



    11      Capitalization Rate



    12      Income Based Value (Using cap rate)




    13      Depreciable Percentage of Property



    16      Monthly Rent
    17      Property Tax
18   Hazard Insurance
19   Private Mortgage Insurance (PMI)



20   Landloard-Paid Utilities




21   Vacancy Allowance



22   Maintenance / Advertising

23   Trash/Water/Sewer
24   Management Fee



25   Miscellaneous Fees


26   Condo / Association Fees

27   Net Rent (Gross Taxable Income)



28   Monthly Interest


29   Monthly Depreciation




30   Pre-Tax Net Monthly Income


32   Federal Tax Rate


33   State Tax Rate

34   Local Tax Rate
35   Total Monthly Income Tax
36   Monthly Pre-Tax Cash Flow



37   Monthly After-Tax Cash Flow


39   Property Appreciation Rate

40   Inflation Rate (for rent and expenses)

41   Value of Property (end of year)



42   Annual Mortgage Reduction
43   Accumulated Mortgage Reduction
44   Annual After-Tax Cash Flow

45   Accumulated After-Tax Cash Flow
46   Annual Equity Build-up

47   Accumulated Equity Build-up

48   Accumulated Cash + Equity Yield ROI


50   Sale Price
51   Mortgage Balance
52   Sales Commission


53   Miscellaneous Fees

54   Net Settlement Proceeds
55   Taxable Capital Gains




56   Accumulated Depreciateion

57   Tax on Accumulated Depreciation
58   Federal Capital Gains Tax


59   State Capital Gains tax

60   Local Capital Gains Tax
61   Total Taxes
62   Net After-Tax Profit
63   Total Profit (includes net cash flow)

64   Net ROI (after-tax)

65   Net Compound ROI (after tax)
          PROPERTY ANALYZER INSTRUCTIONS
sion of the program. What you have here is a static sample. You can not change any of the values.
mation you need to evaluate an investment property in terms of income, expenses, closing costs, cash flow and

er that is just a guess, as the out years are based on an assumption of inflation and property appreciation rates,
sumptions.
te fields. The grey and green areas are computed by the program.
, send them to JoeKamenar@aol.com.
h item is for.
                                                              ITEM DESCRIPTION
                This is how much you are going to pay for the property.
                This is the amount of the down payment. It is NOT the deposit you use when you make your offer to
                purchase. The down payment is the amount you are not going to finance.
                A worksheet for estimated closing costs is to the right of lines 3-12. Fill in the blanks with the estimates
                on the property you are looking at. If you are not sure what these numbers are, consult with a real
                estate agent. The total will be transfered to Line 5 and will be considered an out-of-pocket cost. It is
                important to fill out this section, as the total closing cost value is used in figuring your capital gain, as
                the costs become part of the cost basis. If you are going to finance all or part of your closing costs,
                reflect this by lowering your down payment, as the mortgage points are based on the amount of the
                loan.
                This is the amount you will have to borrow. You can not enter data into this field as it is computed
                based on the difference between the purchase price and the amount down.
                Enter the number of years on the loan you are using to finance your purchase.
                Enter the interest rate of the loan. For this analysis, we will only use fixed interest rates, as one can not
                accurately predict where an adjustible rate will go. If you are looking at an adjustable rate loan, you can
                use this number to get a good idea of your payments for the first couple years. The later years will not
                be accurate.
                This is your monthly payment for principal and interest, exclusive of any private mortgage insurance
                (PMI), or your property taxes and insurance.
                If the value of the property is different from what you paid for it, enter the true property value here. This
                can be the after-repair value, if you are buying a property on which you will do a rehab job, or the
                income-based value, based on the property's net rental income and the capitalization rate. This value
                will be the base number from which all future values are based.
                The cap rate is used to figure the value of an income producing property. The property value is figured
                by taking the net rental income for the year (before paying the mortgage), then dividing by the cap rate.
                The "standard" rate is 10%, but check with your local real estate agent to use the appropriate value for
                the area where the property is located.
                This is the value computed by using the cap rate and the net rental income. Note that this value will not
                be finalized until you enter the current rental income plus the estimated property expenses. If this
                number is lower than either the price you are paying or the estimated market value, then either the rent
                is too low or the expenses are too high. This number will give you an accurate view of what you should
                be paying for an income-producing property, based on the cap rate. This type of valuation is normally
                used for multi-family buildings (duplex, triplex, four-plex, apartments, etc...) and not normally for a
                single family home.
                When you figure the depreciation allowance on a property, you have to determine the value of the
                "improvements" only, and not the underlying land value. The average rate is 80%, but check with your
                real estate agent or an accountant to get the true depreciable percentage of the property.

              Enter the rent you are charging your tenant. This is the gross rent that they will be paying you.
              Enter the monthly property tax. You can get the annual tax estimate from your real estate agent or the
              title company if you are not using an agent.
This is your property insurance, or homeowners insurance. Enter the monthly portion of it.
PMI is an insurance premium charged on many conventional loans if the loan-to value ratio is greater
than 80%. It is there to protect the lender against possible default. Once the loan to value ratio of the
property drops below 80%, the PMI fee can be removed from your payment. This program will do just
that. It will go to zero when your equity is greater than 20%.
If you are paying heat, electric, water, sewer, or other utilities, enter the estimated monthly amount
here. You should get verifiable numbers from the seller of the property. Ask for copies of utility bills,
including electric, oil, gas, water and sewer. These numbers can surprise you if you don't know what
they really are. If the tenant is paying any utilities, do not include those amounts here.

A property is not always fully rented. If you have a multi-unit building, find out what the average
vacancy rate is. For a single family home, if you have a new tenant every year, you can conceivably
have a vacant month every year (8% rate). If you estimate that on average, you will have a vacant
month every 2 years, your vacancy rate would be around 4%.
Enter the estimated monthly fees for maintenance and advertising. You should get an idea of what
kind of maintenance the property needs from the current owner.
Enter the montly allocation for the trash service, plus water and serwer bills.
If you are paying a management company to manage your property, enter the monthly fee. If it is a
percent of the monthly rent, calculate the number and enter it here. It will then increase annually at the
same rate as the rent, so the percentage will stay the same. For example, if the rent is $1000 a month
and the management fee is 7%, you would enter "70" in this line
Enter any other fees, such as legal, accounting, bank fees, etc… You may also want to use this field to
enter a monthly reserve allowance for items that will eventually need to be replaced, such as carpeting,
stove, refrigerator, HVAC system, etc…
If you are purchasing a condo or a townhome, there will be monthly association fees. Be sure to
include these fees in your analysis, unless the tenant is paying them directly.
Here is your net rental income, before you pay the mortgage or look at the tax advantages from
property depreication. This amount is what is available to service the debt on the property. It is also the
amount that gets divided by the capitalization rate to get the income-base property value.

This number is the interest portion of your mortgage payment, It is very high in the early years of the
loan, then gradually decreases over the life of the loan. The interest on the loan is normally tax-
deductable, while the principal is not.

A residential property can be depreciated over a 27.5 year schedule. This means that the non-land
portion of the lower of the cost or market value gets divided by 27.5 and you get to deduct that amount
from your taxable income. The assumption for the non-land portion is what you entered in Line 13. If
you going to rehab the property, then keep it as a rental, include the estimated rehab and hard money
costs in the purchase price so that it can be included in the depreciation schedule.
This amount represents your net rent less the interest payment and depreciation. This is the amount of
income you have from the property for tax purposes. It is different from your actual cash flow, which is
covered in lines 36 and 37.
Enter your marginal tax bracket. This is your top rate, meaning, at what rate is your last dollar of
income taxed. It is not your average bracket. Typical numbers are 15%, 28% or 33%, depending on
who is in the White House.
This is your marginal state tax rate. Many states have graduated rates, based on income, while others
have a flat rate.
If you pay a city or township income tax, enter the rate here.
This is the total tax due on your pre-tax monthly income. If you have a loss for tax purposes, this
number will be red, meaning you get this money back.
This is line 27 less line 9. This is what you see each month after you pay the bills, including the
mortgage payment. If the nubmer is red, it means this is the amount you have to pay each month "out-
of-pocket", or from your checkbook to keep your property. Hopefully, after a few years this number
goes positive.
This is line 36 less line 35. It is what you have to spend after you pay the income tax on what you
earned on line 28. If you are getting money back from a tax loss, this refund is added to line 35.

Enter the estimated annual property appreciation rate for your area, or more accurately, the area
where the property is located.
Enter the estimated inflation rate that you will use for rent increases and for average increase in
expenses.
Based on your property appreciation rate, this what your property will be worth at the end of a 12-
month period. Note that if you buy a property in September for $100,000 and you have an annual
appreciation rate of 6%, it will NOT be worth $106,000 at the end of December! It is based on a 12-
month period.
This is the amount that your mortgage goes down each year.
This shows the total amount that the mortgage has been reduced.
This is Line 36 multipled by 12. This number sure looks a lot better than the monthly number, as long
as it is not red!
This row shows the accumulated after tax flow as the years go along.
This row shows the combination of property appreciation and mortgage reduction for each of the 15
years.
This row shows the accumulated equity build-up over the years. It is a good indicator of what you have
available against which to borrow for other investments.
This row shows the sum of Lines 44 and 46, expressed as a percentage of your original investment,
including down payment and closing costs. It is not a complete return on your investment as you still
have your principal invested.
This is the sale price of the property, based on the current value at the end of the year.
This is the current amount of the mortgage
In most cases you will be selling your property with the help of a qualified real estate agent. The
average commission is 6%. Remember, this is tax-deductable, so your effective commission rate is
around 4$.
At settlement, you will have miscellaneous fees, including the seller's share of the state and local
property transfer tax. The averave miscellaneous fees are 2%.
This amount represents what you will get at settlement when you sell the property.
You will pay long-term capital gains on the difference between what you sold the property for and what
you paid for it. If you end up doing any major renovations or improvements, the cost of these items will
also be added to your cost basis, reducing your taxable gain. In this analysis, we will assume that you
did no improvements. Your cash closing costs from Line 5 are added to your cost basis, reducing your
capital gain by that amount.
All the depreciation that you took on the property must now be 'recaptured'. The total depreciation
amount will be subject to your ordinary income tax rate (your marginal tax bracket)
This is your Federal, State and Local income taxes on the depreciation recapture.
This is the long-term capital gains tax on your profit. If you are in the 15% tax bracket, the long term
capital gains tax currently is 10%. If your tax bracket is 28% or higher, the long-term capital gains tax
rate is 20%.
Since all states are different, we are assuming that you will pay your normal state income tax rate on
your capital gains.
This is the tax you will pay to your city or township on your capital gains.
This is the summary of all the taxes you will pay on your profit and accumulated depreciation.
If this number is black, it is your total after-tax profit. If the number is red, this is your after-tax loss. If
the number is red, consider not yet selling the property!
This value includes the profit from the sale of the property, plus the accumulated net after-tax cash
flow you made while holding the property.
This is your overall after-tax return on your investment (ROI), expressed as a percent. With anything
over 100%, you have more than doubled your money.
This is the geometric, or compound, annual return on your investment. What this means is that if in
any year the value is 16%, your original investment earned 16% each year, with the earnings also
earning 16% and so on. This is how savings account work.
                                               REHAB COST ANALYZER - Static Sample (Non-Interactive)
Use this worksheet if you are going to evaluate a property to rehab or to assign to another investor.
Enter the estimated material and labor costs for the various categories listed below. You can also enter the item condition and c
worksheet out. At the bottom of this page is a profit analyzer to use when evaluating the profit potential of the property under co

  CATEGORY                       ITEM                  CONDITION
Grounds             Landscaping
                    Patio / Deck
                    Pool
                    Driveway
                    Fence


Exterior            Foundation
                    Roofing
                    Siding
                    Porches
                    Garage
                    Masonry
                    Gutters


Interior            Windows
                    Carpeting
                    Hardwood Floors
                    Walls
                    Ceilings
                    Bedroom 1
                    Bedroom 2
                    Bedroom 3
                    Bedroom 4
                    Bath 1 - sink/tub/toilet
                    Bath 1 - floor
                    Bath 1 - walls/cabinet
                    Bath 2 - sink/tub/toilet
                    Bath 2 - floor
                    Bath 2 - walls/cabinet
                    Bath 3 - sink/tub/toilet
                    Bath 3 - floor
                    Bath 3 - walls/cabinet
                    Kitchen
                    Living Room
                    Dining Room
                    Den
             Family Room
             Attic
             Basement


Systems      Plumbing
             Electrical
             Wiring
             Heating
             Hot Water
             A/C
             Sewer
             Water


Appliances   Stove
             Washer
             Dryer
             Refrigerator
             Dishwasher
             Disposal


Fixtures     Front Door
             Side Door
             Back Door
             Basement Windows
             First Floor Windows
             Second Floor Windows
             Kitchen Cabinets
             Other Windows
Total Rehab Expense

Hard Money   After-Repair Value (ARV)   This is the estimated value after the property is rehabbed.
             Purchase Price             The amount you are paying for the property.
             Rehab Expense              This is computed from the above section.
             Closing Costs              Enter the closing costs. If you use the Closing Cost Estimator from the Prop
                                        enter '0' for points as they will be added below.
             Purchase + Rehab + Close   The amount you need to get and fix up the property.
             Max Loan Amount            Most hard money lenders will lend up to 65% of the ARV. They will also fina
                                        if the overall loan is still below 65% of ARV.
             Down Payment               This is how much the investor will put down on the property
             Loan Amount                This is the amount borrowed from the hard money lender. If you see "Exce
                                        to increase the down payment.
             Points                     A point is 1% of the loan.
             Total Cash Needed          The down payment plus cash points. This is your total investment in the pro
                                        cash needed, reduce the down payment. The loan amount will go up.
Interest Rate             Interest payment is usually interest-only, and payable upon completion of th
Number of Months          How many months you will need the money.
Total Finance Fee         This interest charge will be deducted when the property is sold.

                                           Rehab Profit Analysis
Purchase Price            Taken from the above section.
Closing Costs             Taken from the above section. Does not include the mortgage points.
Rehab Expense             Taken from the above section.
Points                    The dollar amount of the mortgage points.
Assignment Fee            Enter what you want out of this deal. Enter "0" if keeping the property for yo
Annual Insurance          Only the pro-rated amount of insurance will be used in the total carrying cos
Annual Property Taxes     Only the pro-rated amount of property taxes will be used in the total carrying
Total Carrying Cost       This is the pro-rated amounts of the previous 2 lines, based on Line 83.
Total Acquisition Cost    Total cost basis for the purchase of the property.

Sales Price               Sales price equals the after-repair value (ARV).
Settlement Costs          Standard 6% sales agent commission and 2% misc fees.
Mortgage Payoff           Amount borrowed plus the total finance fee
Settlement Proceeds       Amount received after settlement fees and mortgage payoff.
Gross Profit              Pre-tax profit realized by the investor. This equals the sales price, less the s
                          acquisition cost and interest charges.
Federal Income Tax Rate   Federal income tax bracket of the investor.
State Income Tax Rate     State income tax bracket of the investor.
Local Income Tax Rate     Local income tax bracket of the investor.
After-Tax Profit          After-tax profit to the investor.
Return on Investment      Return on the cash amount invested in the property.
COST ANALYZER - Static Sample (Non-Interactive)
 ty to rehab or to assign to another investor.
 ous categories listed below. You can also enter the item condition and comments if you wish to print this
 yzer to use when evaluating the profit potential of the property under consideration.

                                 COMMENTS                           MATERIAL        LABOR         TOTAL $
                                                                            $200       $150           $350
                                                                            $300         $300            $600
                                                                              $0            $0               $0
                                                                              $0            $0               $0
                                                                            $400         $300            $700


                                                                              $0            $0               $0
                                                                          $1,000         $800          $1,800
                                                                              $0            $0               $0
                                                                              $0            $0               $0
                                                                              $0            $0               $0
                                                                              $0            $0               $0
                                                                            $200         $150            $350
                                                                              $0            $0               $0
                                                                              $0            $0               $0
                                                                            $800            $0           $800
                                                                              $0            $0               $0
                                                                            $150         $400            $550
                                                                             $50         $150            $200
                                                                              $0            $0               $0
                                                                              $0            $0               $0
                                                                              $0            $0               $0
                                                                              $0            $0               $0
                                                                            $150           $80           $230
                                                                              $0            $0               $0
                                                                              $0            $0               $0
                                                                            $200         $200            $400
                                                                              $0            $0               $0
                                                                              $0            $0               $0
                                                                              $0            $0               $0
                                                                              $0            $0               $0
                                                                              $0            $0               $0
                                                                            $200         $150            $350
                                                                              $0            $0               $0
                                                                              $0            $0               $0
                                                                              $0            $0               $0
                                                                              $0            $0       $0
                                                                              $0            $0       $0
                                                                              $0            $0       $0


                                                                              $0            $0       $0
                                                                           $400          $600     $1,000
                                                                              $0            $0       $0
                                                                           $400          $200      $600
                                                                              $0            $0       $0
                                                                              $0            $0       $0
                                                                              $0            $0       $0
                                                                              $0            $0       $0


                                                                              $0            $0       $0
                                                                              $0            $0       $0
                                                                              $0            $0       $0
                                                                              $0            $0       $0
                                                                              $0            $0       $0
                                                                              $0            $0       $0


                                                                              $0            $0       $0
                                                                              $0            $0       $0
                                                                              $0            $0       $0
                                                                              $0            $0       $0
                                                                              $0            $0       $0
                                                                              $0            $0       $0
                                                                           $250          $150      $400
                                                                              $0            $0       $0
                                                                                                  $8,330

 is the estimated value after the property is rehabbed.                                          $86,000
 amount you are paying for the property.                                                         $30,000
  is computed from the above section.                                                             $8,330
er the closing costs. If you use the Closing Cost Estimator from the Property Analyzer tab,       $2,800
er '0' for points as they will be added below.
 amount you need to get and fix up the property.                                                 $41,130
 t hard money lenders will lend up to 65% of the ARV. They will also finance the closing costs   $55,900
e overall loan is still below 65% of ARV.
  is how much the investor will put down on the property                                          $5,000
  is the amount borrowed from the hard money lender. If you see "Exceeds Max", you need          $36,130
 crease the down payment.
oint is 1% of the loan.                                                                             5.00
 down payment plus cash points. This is your total investment in the property. To reduce the      $7,795
h needed, reduce the down payment. The loan amount will go up.
 rest payment is usually interest-only, and payable upon completion of the project.                   15.00%
w many months you will need the money.                                                                      6
  interest charge will be deducted when the property is sold.                                          $2,710

             Rehab Profit Analysis
en from the above section.                                                                           $30,000
en from the above section. Does not include the mortgage points.                                      $2,800
en from the above section.                                                                            $8,330
 dollar amount of the mortgage points.                                                                $2,795
er what you want out of this deal. Enter "0" if keeping the property for yourself.                        $0
y the pro-rated amount of insurance will be used in the total carrying cost                             $800
y the pro-rated amount of property taxes will be used in the total carrying cost.                       $900
  is the pro-rated amounts of the previous 2 lines, based on Line 83.                                   $850
al cost basis for the purchase of the property.                                                      $44,775

es price equals the after-repair value (ARV).                                                        $86,000
ndard 6% sales agent commission and 2% misc fees.                                                     $6,880
ount borrowed plus the total finance fee                                                              $38,840
ount received after settlement fees and mortgage payoff.                                             $40,280
 tax profit realized by the investor. This equals the sales price, less the settlement cost, total
uisition cost and interest charges.                                                                  $31,635
 eral income tax bracket of the investor.                                                             28.00%
 e income tax bracket of the investor.                                                                 3.20%
al income tax bracket of the investor.                                                                 0.00%
 r-tax profit to the investor.                                                                        $21,765
urn on the cash amount invested in the property.                                                     279.22%
                                                       Monthly Cash Flow


                    250




                    200




                    150
Monthly Cash Flow




                    100




                     50




                      0
                           1   2   3   4   5   6   7     8     9    10     11   12


                     -50




                    -100
                                                        Year
                    Pre-Tax cash Flow
                    After-Tax Cash Flow




12   13   14   15
                             Accumulated Equity and After-Tax Profit


200000


180000


160000


140000


120000


100000


80000


60000


40000


20000


     0
         1   2   3   4   5     6    7     8     9    10    11    12

-20000
                                         Year
Tax Profit




                            Accumulated Equity
                            After-tax Profit




       12    13   14   15

				
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