If you were looking at getting into the STR business as a real estate investor (short-term rentals), then this financial model is MS Excel is a must have. The template is robust enough to handle large operations or just single operator investment planning. The model goes for a max period of 15 years and you can account for the purchase/renovation, operations, and exit of up to 20 properties or 20 tranches of properties all on the same timeline.
There is a lot going on here and you have all the financial output reports you can ask for. The key feature is being able to accurately plan out cash requirements over time based on buying and renting out properties over short periods.
Main Features:
- Up to 20 slots for single or groups of properties
- Each 'row' is connected to its own pro forma tab dynamically (monthly and annual) that will all roll up into consolidated monthly and annual financial summaries.
- Acquisition Schedule and Renovation
- ID / Name
- Date of Purchase
- Live Date
- Unit Count
- Average Purchase Price per Unit
- Total Purchase Price (Potentially Financed per column L)
- Average Renovation Cost Price per Unit
- Total Renovation Costs (not financed)
- Length of Renovation
- Financing / Refi / Exit
- Financing? (only applies to purchase price)
- % Financed
- Amount Financed
- Amortization (years)
- APR
- Payments per Year (must be 12)
- Refi?
- # of Months Until Refi (from initial loan)
- Amortization Years (Refi)
- APR (Refi)
- Payments per Year (Refi)
- Loan-to-Value (if Refi 'yes')
- Refi Cap
- Exit Cap
- Exit Month
- Pricing
- Rent per Day per Unit
- Annual Rent Growth
- Monthly Utilization Expected (seasonality driver)
- Price Variance from Base Rent (months 1-12) (seasonality driver)
- 9 Slots for Fixed Expenses
- 9 Slots for Variable Expenses (will vary based on utilization rates)
- Selling Fees
- Mobile Home Park Scaling (up to 40 parks)
- Multi-family Acquisition (includes debt financing / refi)
- Rental Property Simple ROI Calculator