Free Real Estate JV Waterfall Model For You To Download. Just found this subreddit and wanted to share. Hope it's useful.
[{"id": "d03bdxp", "text": "Hey I've been looking for one of these!", "replies": [], "depth": 1}, {"id": "d03cpna", "text": "Nice work! The model looks really nice and you've done a nice job incorporating a lot of complex things into just a few sheets. If I may offer some advice on the model to make it better:\n\n1. Monthly cash flows. I find I need monthly cash flows most of the time because they give a more accurate IRR over short time periods. Plus, you can incorporate dates and use the XIRR function which I find to be more accurate.\n\n2. Come up with a non-Solver/Goal Seek way to get the Catch-up working. I didn't dive deep into your model to see if there is a way specifically with how you're set-up, but I have incorporated a catch-up into models I've done and not had to use goal seek or Solver. Failing that, maybe you could write a macro that prompts the user with input boxes to make it more user friendly.\n\n3. You mention in your notes that goal seek doesn't always seem to work/get close enough. You can adjust this from the options menu. Just set the \"Maximum Change\" to something smaller than .001. It is in the \"formulas\" section of the options box.\n\nKeep it up!", "replies": [{"id": "d03jfm1", "text": "Thanks for the feedback! Glad you like it.\n\nIn response to your input:\n\n1. Yes. I have plans for a future model where I will give the option to input both quarterly and monthly distributions with the XIRR function built in. In fact, my next acquisition model I put up will have that as well. The models do take time, so when I initially built them I did annual calcs so that I could wrap it up quicker and post it to the site. Stay tuned!\n\n2. This was a real challenge for me and I could not come up with the formula. I wracked my brain for a while and then just decided to go with solver and goal seek and move on. If you happen to dive into it and come up with a solution, please let me know. That would be fantastic!\n\n3. Great! Thanks for the tip. I will go in and change it and see how it works. \n\nAgain, thanks for the feedback. Really appreciate it.", "replies": [], "depth": 2}, {"id": "d03r6ke", "text": "Curious, why not use goal seek? ", "replies": [{"id": "d0447ko", "text": "Nothing against goal seek as a tool in your excel arsenal,  but I feel that in complex models like the one OP posted it is preferable to keep things fully dynamic. It is easy to get going in a model and then forget to do your goal seek at the end. The conditional formatting helps in this case to alert the user, but in general I like to remove extra steps and reduce error possibilities where I can.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "d04o8y3", "text": "Great job! It is very concise and easy to follow.  In addition to the recommendations of /u/not_last_place, I would throw in the ability to make the loan interest only for a given period.  I also like to include the ability to reset the payments in a given year.  Sometimes we are only able to fix the rate for 5-7 years of a 10-year loan.  This may not be as useful for others as it is for me though.  ", "replies": [{"id": "d05dx1w", "text": "Thank you for the feedback! Yeah, those two scenarios would be interesting to model out, but might be helpful to only a few people. I will be fleshing out the debt component of this model in the future and will keep this in mind for sure. There will definitely be an interest only component and a junior and mezz section. That I can promise. Thanks again and I hope it's useful for you!", "replies": [], "depth": 2}], "depth": 1}]