Overview

 

This is a fully functional, institutional quality and dynamic real estate financial model for calculating the return of the development and sale of a single detached housing unit. It is a robust model (with only four tabs), yet, very user-friendly, that will provide the user with a detailed Excel spreadsheet. It’s purposely simple, clean, and made to be filled out in no more than half an hour.

Return metrics include the levered internal rate of return, equity multiple, NPV.

The model is monthly in nature, and it is a 100% unlocked Excel file with fully transparent formulas that can be further tailored to suit the particulars of your transactions.

Model Structure:

1. Summary – Except for the budgets (hard and soft costs), all investment-related inputs are entered this sheet. These include property description, investment timing, acquisition and investment costs, sale assumptions, operating expense assumptions, financing assumptions, timing of the project, etc…

2. Hard Costs Budget – In this tab the user can input all costs related to the building's structure, such as building walls, electrical and plumbing. This sheet also covers the labor that goes into the construction. The hard costs are automatically distributed based on a bell-shaped curve.

3. Soft Cost Budget – In this sheet, the user can input additional costs not directly related to the construction budget, such as architectural fees or permit fees. The soft costs are distributed during the different phases of the project. (Pre, During and Post Construction).

4. Cash Flow Tab – The calculations are performed on the Cash Flow worksheet. Assumptions entered on the Assumptions and Construction Budget sheets flow to the Monthly Cash Flow sheet where a forecast of all cash flows, by month, are calculated.

Instructions

• The user only needs to input information into the cells formatted in the dark blue font in the Investment Summary and Budgets sheets. If the contents of a cell are colored black, it means that is a formula;

• The template is provided with information from a hypothetical property, for demonstration purposes, that must be erased;

• The model is expandable up to 10 years.


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