I love this template. If you are involved in real estate acquisitions, new construction, or perform real estate underwriting for apartment buildings, multi-family, or self-storage, this template will be useful to you. Anything that has units and monthly rent can be plugged into the assumptions. With this robust deal analyzer that focuses on value-add metrics, you can easily see the full financial picture of potential real estate deals.
After purchase, the template will be immediately available to download. It is also included in the real estate financial models bundle.
Template Features:
- Model for up to 15 years.
- Robust rent roll layout for up to 25 unit types.
- Built to underwrite apartment buildings, multi-family units, or self-storage.
- Joint venture capable.
- Includes a robust GP fee schedule which can be configured as needed.
- Monthly and annual view.
- Useful for acquisitions, new construction, acquisition + renovation, acquisition + construction of new units.
- Value-add metrics displayed from rent roll.
- Options for up to two REFI events.
- Optional construction loan with accrued or paid interest.
- Option for exit value based on cap rate.
- Two waterfall options if you are modeling a joint venture
- Robust schedule for ancillary income by income stream type, average utilization percentage, and average monthly price.
- Error-checking with a sanity check on all monthly / annual summaries / financial statements to ensure all values are balanced with each other and all the reports sum to the same final cash flow numbers.
- Includes depreciation and logic for depreciation recapture upon exit.
- Monthly and Annual Waterfall Summary
- Monthly and Annual 3-Statement Model (Income Statement, Balance Sheet, Statement of Cash Flows)
- Monthly and Annual Pro Forma detail
- Annual Executive Summary
- Value-add Opportunity Metrics
- Visualizations for Key metrics
- DCF Analysis (for both waterfall summaries)
- Equity Multiple, IRR, ROI, Cash-on-Cash for project, LP, and GP.
- Key metric outputs include Debt Service Coverage Ratio (DSCR) and Average Revenue per Available Unit / Room (RevPAR)
- Acquisition Fee - Percentage - Based on purchase price
- Other Fees Upon Purchase - Hard-coded value per a defined month
- Ongoing Asset Management Fee - Percentage - Based on gross rental income
- Disposition Fee (1st REFI) - Percentage - Based on property value at first REFI (per cap rate defined for 1st refi)
- Disposition Fee (2nd REFI) - Percentage - Based on property value at second REFI (per cap rate defined for 2nd refi)
- Disposition Fee (EXIT) - Percentage - Based on property value at EXIT (per cap rate defined for EXIT)
- Development - Percentage - Based on any costs entered in this section of the 'Development & Acquisition' tab.
- Other Costs 1 - Percentage - Based on any costs entered in this section of the 'Development & Acquisition' tab.
- Other Costs 2 - Percentage - Based on any costs entered in this section of the 'Development & Acquisition' tab.
- Other Costs 3 - Percentage - Based on any costs entered in this section of the 'Development & Acquisition' tab.
- Land-only - anything here is not depreciable - Percentage - Based on any costs entered in this section of the 'Development & Acquisition' tab.
- AirBnB (or other booking sites) Arbitrage ($45)
- Assisted Living Facility / Nursing Home ($75)
- Checklist for Buying/Selling Real Estate ($25)
- General Cash Flow Waterfall: 3 IRR Hurdles ($45)
- General Cash Flow Waterfall: 3 IRR Hurdles and GP Catch-up Provision ($75)
- Hotel Development / Acquisition ($45)
- IRR Sensitivity (Occupancy vs. Hold) ($45)
- Mixed-Use Real Estate ($75)
- Mobile Home Park (up to 40 park ramp) ($175)
- Multifamily Real Estate Acquisition (annual only) ($45)
- Preferred Equity ($45)
- Preferred Return ($45)
- Property Management Business ($75)
- Real Estate Brokerage ($75)
- Real Estate Development ($45)
- Real Estate Flipping Calculator ($45)
- Rental Property ROI Calculator ($45)
- Self Storage: Multi-Fund ($45)
- Seller Financing ($45)
- STRs (Short-term Rentals) ($45)
- Unit-Based Real Estate Acquisition ($45)