Multi family Pro Forma Form/Template for modest development project
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[{"id": "i9brt7g", "text": "No offense but if I was an equity investor in this deal and I saw this post it would be a giant red flag", "replies": [{"id": "i9bsln2", "text": "Agreed, but still a small project with mostly retail equity partners I assume. I\u2019ve seen some pretty wonky stuff at that scale. Unless OP is building 2k+sf luxury units", "replies": [{"id": "i9bw2b4", "text": "I come from a field where forms are fairly normal. After looking at a few, I realize this is not the case. I wanted to make sure I wasn't going to spend time reinventing the wheel.\n\nProject is relatively small scale. No equity partners.", "replies": [{"id": "i9c4onz", "text": "If there\u2019s one thing I\u2019ve come to know, nothing is standardized in Real Estate. Building out your own model will be incredibly helpful though in learning the interworkings of the deal", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "i9ck0tn", "text": "I realize that now after looking over some other forms. I'll build my own.", "replies": [], "depth": 2}], "depth": 1}, {"id": "i9bsn0m", "text": "https://www.adventuresincre.com/library-real-estate-excel-models/", "replies": [{"id": "i9bwj4r", "text": "Just an FYI, real estate financial and excel models are very personal to developers. Some developers put in hundreds of hours building, customizing, and tweaking their models. \n\nFor these types of models: 1) Developers may not want to share due to their time investment in their models which is usually significant 2) the models themselves may be convoluted, complicated, linked to other worksheets, or you could break it by changing a wrong number or formula box. Or 3) May contain information that you dont need or can\u2019t use. \n\nThat\u2019s why you will most likely benefit by using the A. CRE models on the website that u/darthweenie posted above.\n\nStart with one of those, play around with it, model it out, ask for help, incorporate different models together, and over time, you\u2019ll see what is useful to you and expand on it and what is not useful to you and shrink it.\n\nOne of the best and most useful things that you can do in RE Development is learn the excel and pro formas. Be able to explain the numbers, and how numbers relate.\n\nGood luck!", "replies": [{"id": "i9bx0hm", "text": "After reviewing some of the A.CRE models, I realize I should build my own. Didn't want to reinvent the wheel, but that's not the case here. Thanks for the feedback.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "i9bsvvo", "text": "It's worth retaining a local 3rd party cost consultant to do a workup for you if you're taking on outside capital. Then at least the pro forma is more defensible and you'll most likely need a relationship with that consultant as part of construction financing.", "replies": [], "depth": 1}, {"id": "i9crz9s", "text": "if you can work in excel, its kind of fun to build your own. you can customize it to exactly what you need. lots of videos out there for different types of cre deals.", "replies": [], "depth": 1}, {"id": "i9ejj7z", "text": "It is tough to take someone else template, because soft costs will vary in nature and in value depending on location.", "replies": [], "depth": 1}, {"id": "i9ezqql", "text": "Twenty 2 bedroom units is a lot for a first deal.", "replies": [], "depth": 1}, {"id": "i9f5vpu", "text": "If you are new to CRE and want the base 101 knowledge then I recommend taking various CCIM course over the next year. It\u2019s a nice base level knowledge and once you have a designation it\u2019s also a nice networking tool. They have some very basic analysis tools available as well that you gain access too. If you have the capital capacity and want to jump in more immediately then I might recommend finding an experienced investor in the area. You can be passive and learn as well as mitigate your risk. You\u2019ll be more prepared and comfortable with CRE deal #2.", "replies": [], "depth": 1}]