It's no secret that there are a lot of housing and condo projects that are distressed and in need of a rescue. A common scenario we've been seeing is one where an investor is looking to purchase an entire project at a low price with the idea of renting existing units for several years, and then beginning sales once the real estate market turns around.
In the Learn section of realdata.com, we have an article called "No-Stress Analysis for Distressed Properties" which describes expanding our popular On Schedule development program to accommodate long term rental income when analyzing distressed, partially-built development projects such as housing subdivisions and condominium buildings.
One of the great advantages to using Excel as a development platform for our software products is that it provides the ability for you, the user, to make customizations to fit your analysis objectives. We encourage our customers to add to the software rather than changing internal formulas, so the base product remains unchanged.
It is very easy to add a user worksheet. All RealData products have an "Add User Worksheet" feature in the RealData menu. so you can simply add a new worksheet and call it whatever you like.
Then, on that sheet, you can add your own formulas and labels, and even link the results back into the main product. This gives you the ability to take some line item in our program and flesh it out into greater detail.
For more specifics, check out the article cited above.
In a future article, we'll show you how to expand Real Estate Investment Analysis in a similar way.
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