Looking for Alternatives to Excel to Analyze Multifamily Properties
I want to be able to break down properties' financials and rank them against each other but I don't love excel. Do you guys know of any free websites/programs that have quality tools with a similar functionality to excel that are helpful for multifamily properties? If no free ones, are there any cheap ones? Or is it worth learning to work with excel, if it's that much better?
[{"id": "grs9ixt", "text": "Learn excel. You don\u2019t need to do pivot tables to use it for MF", "replies": [{"id": "gshfyu6", "text": "Agreed\n\nPlus, you can learn to pivot from youtube videos (Source: me. Who did just that)\n\nAlso excel (and interchangeably, Google Sheets, which is free) is a life skill. It spans most careers. It's useful in managing your own finances", "replies": [], "depth": 2}], "depth": 1}, {"id": "grsf012", "text": "You should just learn excel. Not clear what the hesitation is, but if you\u2019re just looking for alternatives, Google sheets has similar spreadsheet functionality, and you can code scripts into it too", "replies": [], "depth": 1}, {"id": "grsgmym", "text": "Excel 10000%. Everyone in the industry knows excel. If you go to some banks for a loan and mention you\u2019re inability to use excel... just not a good look. \n\nUdemy has some excellent, affordable courses specifically for beginner level users. Some are specifically tailored for multifamily analysis. Once you get the basics down, you can analyze properties in under an hour (depending on size, deal complexity, etc.)", "replies": [], "depth": 1}, {"id": "grsln8p", "text": "I have created web-based, analytical software that allows for quick, error-free investment modeling. Basically DCF modeling...without excel.  It is one of the most robust investment modeling applications out there that is not Argus. \n\nThere are others though - Rockport Val, Argus, Green Street just (like a week ago) came out with their valuation software. \n\nBut...it\u2019s not free. \n\nThat said, Excel is the current requirement. \n\nIt is an incredibly interesting landscape though as I think other options are being explored and accepted. Change is slow in CRE though. I still own a HP-12c...so, yeah.", "replies": [{"id": "gt7v2vc", "text": "So you have argus like functionality? What is it? Is it $6000/year?", "replies": [{"id": "gt8f9f4", "text": "In its current iteration...it is at $60/ mo. It\u2019s priced at much more an affordable rate and targets those looking for something that is below an enterprise solution. Obviously, it does not have all the feature set of AE but the value is there. The approach (I think) is slightly more intuitive as well. If you create DCFs in excel...this is similar. It\u2019s free to try (email required but you won\u2019t get any spam outside of some \u201cmarketing\u201d emails from me). I also set up demos for interested companies, time/schedule permitting. \n\nI\u2019m always down to answer any questions!", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "grt1vwz", "text": "Jesus, just learn excel", "replies": [], "depth": 1}, {"id": "grt4amc", "text": "We just ran [a poll](https://www.reddit.com/r/CommercialRealEstate/comments/m7y0gk/poll_whats_your_goto_method_for_underwriting/) on this in this sub last week. Spoiler alert: 80% of people just use Excel.\n\nI've been working on a [deal screening solution](https://blog.stacksource.com/announcing-the-stacksource-browser-extension-92dc87ae7705) that stops short of an underwriting but helps screen and share interesting deals though.", "replies": [], "depth": 1}, {"id": "grt5mco", "text": "Argus Enterprise", "replies": [{"id": "grt9tw9", "text": "For MF? Seems excessive", "replies": [{"id": "grt9xm2", "text": "Oh yeah I agree but he doesn't want to learn =if() lol", "replies": [{"id": "grtgqa4", "text": "Gotta put him on the BiggerPockets calculator", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "grtlstj", "text": "Like everyone else I'd say learn excel... If you want some pretty easy templates to reference [https://www.adventuresincre.com/library-real-estate-excel-models/](https://www.adventuresincre.com/library-real-estate-excel-models/) has some solid ones. He also walks through building models in videos so that can also jumpstart you.", "replies": [], "depth": 1}, {"id": "gru00sf", "text": "You\u2019ll need to explain exactly why you don\u2019t love excel in order to get the suggestions you are looking for. \n\nExcel provides all of the tools to perform every type of analysis used in CRE.", "replies": [], "depth": 1}, {"id": "gru7cnd", "text": "IRR and Gross Cash Multiple in a simple excel model are totally adequate.", "replies": [], "depth": 1}, {"id": "gruzaj0", "text": "I'm not a fan of Excel and I'm not an expert at it but it's very powerful and I use it for all my ROI analysis.  Key is that you can customize the model exactly the way you want it rather than use some calculators on the web. I don't use any fancy features, just the basic ones.", "replies": [], "depth": 1}, {"id": "gw5ux1y", "text": "Of course, Excel is an extremely useful tool (however, not the easiest one to learn), but its days are counted. There are multiple inconveniences related to it, especially, if you work on the same data with someone else online.\n\nExcel sheets can't be automatically updated and properly visualized in a form of dashboards. Also, it's a great offline tool, but to ensure integrity of all your data across the systems and elimination from errors and duplication, it's better to use CRM systems. \n\nMost of them, like Hubspot, have decent basic analyzing/reporting/dashboarding/forecasting functionality even on free plan and it is quite easy to master. However, if you need more CRE-specific, like custom analytic tools or dashboards, you should look for paid tools. (Unfortunately, for such narrow domains like commercial real estate, free out-of-the-box and CRE-specific functionality doesn't exist). Among them the best choices are: AscendixRE, Sharplaunch and VTS.", "replies": [], "depth": 1}]