Please login here to save this document to a list.
If you don't have an account, you can register for free here.
Recently updated to handle up to four properties at once and added a DCF Analysis with NPV (net present value) for both the Limited Partner and General Partner on a consolidated view and for each individual property.
Investing in multifamily real estate will always start with a financial model. This is an annual only template designed for pure acquisitions, the operation of a given acquisition for up to 10 years, potential refinance, and potential exit.
It has all the logic needed to plan out a joint venture with traditional Sponsor (GP) / Investor (LP) financing and distributions with an IRR Hurdle waterfall return schedule.
• Capital Structure
• Purchase Price
• CapEx -
• % of CapEx Financed
• Remaining CapEx to Equity Requirement
• Pre-Purchase fees
• Financing Amount (LTV %)
• Equity Contribution by Sponsor / Investor
• Initial Loan Terms (if applicable)
• Rent Rolls
Up to 5 bedroom types, each defined by…
• Unit count (Input)
• Monthly Rent per Unit (Input)
• Current Annual Rent
• % Under market
• Market Rent per Unit (Input)
• Market Annual Rent
• Year 1 Rent Increase from Current (Input)
• New Per Unit Rent
• Per Unit Increase Pro Forma
• Annual Rent growth rate (per year)
• Ancillary Income (up to 4 slots)
• Vacancy per Year
• Loss to Lease / Credit Loss
Starting OpEx and Yearly Growth...
• 3rd party contractors
• Turn Over
• Repairs & Maintenance
• Marketing & Advertising
• Management Fee %
• Admin / other
• Utilities (up to 4 slots)
• RE Taxes
• Property Insurance
• Reserve per unit Debt / Exit
Loan Financing Assumptions
• Exit Cap Rate for Refi
• LTV on Refi
• Prepay penalty if applicable
• Lender Fees
• Refi year
• Refi amortization rate
• Interest Only Period for Initial Loan
• Interest Only Period for Initial Loan
• Final Exit cap rate (selling)
• Exit year
• Interest Only Period for Initial Loan
• Waterfall Distributions
• IRR Hurdle Rates
• Cash Distribution Splits per Hurdle
Final output report includes an annual Executive Summary showing key financial line items and investor / sponsor contributions / distributions per period. Also, there are a few switches that override the detailed income and expenses. This means if you want to do a quicker analysis, you don't have to define each of the rent rolls individually or expenses and rather just define the total rent / growth and total expenses / growth.
Got a question about the product? Email us at [email protected] or ask the author directly by using the "Ask the Author a Question" form. If you cannot view the preview above this document description, go here to view the large preview instead.
Source: Best Practices in Integrated Financial Model, Real Estate Excel: Multifamily Acquisition Model: 10 Years & Joint Venture Capable Excel (XLSX) Spreadsheet, Jason Varner | SmartHelping
ABOUT THE AUTHOR: JASON VARNER | SMARTHELPING
I graduated in 2011 with a Bachelors degree in Accounting. From there, I worked at a few small businesses doing financial reporting and some bookkeeping. After a few years of that, I started doing freelance financial consulting work on Elance and Upwork.
After over 400 jobs completed with a 100% success rate, I now run my own modeling/consulting practice and continue to build new financial models every few weeks. [read more]
I occasionally take on custom financial modeling work.
Jason Varner | SmartHelping has published 120 additional documents on Flevy.
|Download our free compilation of 50+ Strategy & Transformation slides and templates. Frameworks include McKinsey 7-S Strategy Model, Balanced Scorecard, Disruptive Innovation, BCG Experience Curve, and many more. To receive this free download, enter your email address below and click the "Email Me" button.|
Real Estate Underwriting Templates / Deal Analyzers
This bundle contains 15 additional documents.
"As a young consulting firm, requests for input from clients vary and it's sometimes impossible to provide expert solutions across a broad spectrum of requirements. That was before I discovered Flevy.com.
Through subscription to this invaluable site of a plethora of topics that are key and crucial to consulting, I have been able to exceed expectations and deliver quality advice and solutions to my clients. The quality and expertise of the authors are exemplary and gives me great confidence to use as part of my service offerings.
I highly recommend this company for any consultant wanting to apply international best practice standards in their service offerings. "
– Nishi Singh, Strategist and MD at NSP Consultants
"One of the great discoveries that I have made for my business is the Flevy library of training materials.
As a Lean Transformation Expert, I am always making presentations to clients on a variety of topics: Training, Transformation, Total Productive Maintenance, Culture, Coaching, Tools, Leadership Behavior, etc. Flevy usually has just what I need to make my point.
It is well worth the money to purchase these presentations. Sure, I have the knowledge and information to make my point. It is another thing to create a presentation that captures what I want to say. Flevy has saved me countless hours of preparation time that is much better spent with implementation that will actually save money for my clients."
– Ed Kemmerling, Senior Lean Transformation Expert at PMG
"If you are looking for great resources to save time with your business presentations, Flevy is truly a value-added resource. Flevy has done all the work for you and we will continue to utilize Flevy as a source to extract up-to-date information and data for our virtual and onsite presentations!"
– Debbi Saffo, President at The NiKhar Group
"I have found Flevy to be an amazing resource and library of useful presentations for lean sigma, change management and so many other topics. This has reduced the time I need to spend on preparing for my performance consultation. The library is easily accessible and updates are regularly provided. A wealth of great information."
– Cynthia Howard RN, PhD, Executive Coach at Ei Leadership
"As a consultant requiring up to date and professional material that will be of value and use to my clients, I find Flevy a very reliable resource.
The variety and quality of material available through Flevy offers a very useful and commanding source for information. Using Flevy saves me time, enhances my expertise and ends up being a good decision."
– Dennis Gershowitz, Principal at DG Associates
"Flevy is our 'go to' resource for management material, at an affordable cost. The Flevy library is comprehensive and the content deep, and typically provides a great foundation for us to further develop and tailor our own service offer."
– Chris McCann, Founder at Resilient.World
"I like your product. I'm frequently designing PowerPoint presentations for my company and your product has given me so many great ideas on the use of charts, layouts, tools, and frameworks. I really think the templates are a valuable asset to the job."
– Roberto Fuentes Martinez, Senior Executive Director at Technology Transformation Advisory
"As a consulting firm, we had been creating subject matter training materials for our people and found the excellent materials on Flevy, which saved us 100's of hours of re-creating what already exists on the Flevy materials we purchased."
– Michael Evans, Managing Director at Newport LLC
Do You Want to Get Lean?We've assembled 40 Lean Six Sigma guides: Lean Management, Six Sigma, Strategy Planning, Process, and Change Management.
Waste Too Much Time on PowerPoint?Get our FREE PowerPoint Plugin (Flevy Tools) for creating common business diagrams, from Gantt Charts to Harvey Balls.
Do You Run a Consulting Firm?Learn how to level the playing field with global consulting firms, like McKinsey, BCG, Bain, E&Y, and Accenture.
Need Help with PowerPoint or Excel?Have our highly trained staff create the exact documents you need. We offer PowerPoint and Excel document creation services.
FlevyPro (Subscription Service)
Flevy Executive Learning (FEL)
LinkedIn Influencer Marketing
Contact / FAQ / Terms / Privacy
flevyblog (Business Magazine)
Strategy, Marketing, & Sales
Organization, Change, & HR
Health & Safety
Governance, Risk, & Compliance
Customer-centric Design (CCD)
Human Resource Management
Blue Ocean Strategy
COVID-19 Trend Data
Consulting Training Guides
Organizational Culture (OC)
Organizational Design (OD)
Organizational Leadership (OL)
Financial Advising Services (FAS)
Flevy Tools (PowerPoint Plugin)
Lean Six Sigma Training Guides
Post-merger Integration (PMI)
Supply Chain Management (SCM)
Small Business Owner
© 2012-2023 Copyright. Flevy LLC. All Rights Reserved.