I want Argus, or something similar
Hello and thank you in advance for your help. I work for a CRE mortgage broker and we do not have Argus. When I have asked why not, they tell me it cost too much and our lenders don't really give argus valuations too much credibility when deciding if they should lend on a certain property or not. I know that Argus is based heavily on assumptions, but I would like to get familiar with the program for my personal knowledge. 

If anyone can direct me to a place I can get a really cheap (or free) copy of Argus DCF, I would be eternally grateful. If there is not anything of this sort, I would love to hear about other types of valuation software you all use to value commercial real estate. 

Thanks again,

Chase 
CRE Analyst
[{"id": "co2qgfx", "text": "Argus Developer sucks balls. That said, [this book](http://www.amazon.com/gp/product/1133108822/ref=pd_lpo_sbs_dp_ss_1?pf_rd_p=1944687562&amp;pf_rd_s=lpo-top-stripe-1&amp;pf_rd_t=201&amp;pf_rd_i=0324305486&amp;pf_rd_m=ATVPDKIKX0DER&amp;pf_rd_r=0G0XG5W407FAWP5N8RDK) comes with a free trial copy of Argus, I think.", "replies": [{"id": "co35ru4", "text": "Great, I will check it out. Thank you. ", "replies": [], "depth": 2}, {"id": "coam8ir", "text": "What's bad about it? I'm in grad school right now, professor is teaching us the program this weekend. I guess I will find out on my own this weekend, but I don't know anyone else that has used it and would like to get an opinion. ", "replies": [{"id": "cobn031", "text": "I've never used DCF, but Developer is a glorified data entry program. I basically use it to set the baseline assumptions and then export the data to Excel to actually manipulate it how I need to.", "replies": [{"id": "cobp3uj", "text": "Have you used it for waterfalls or anything like that? You can do promotes and stuff like that in DCF but I figure Developer has to be easier. ", "replies": [{"id": "cocimbu", "text": "I've never had a waterfall that Developer could get right within the program. It gets close but any fine tuning requires an export to Excel.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "co2tph5", "text": "Many mortgage brokers rely on the lender (or appraiser) to complete an Argus... it's still kind of surprising that your office doesn't even have the software. You are asking a valid question since it's an important CRE skill. I'd suggest you:\n\n1. Watch a few youtube video tutorials. \n\n2. Call Argus and ask if they have any type of student training program that is free or discounted.\n\n3. Tell your mortgage broker boss that you have watched tutorials and think it could be a value-add to offer Argus runs to investors/clients.\n\n4. If your boss agrees and has you start putting together Argus runs for all new deals, then eventually regret item #3.", "replies": [{"id": "co35u9n", "text": "I just emailed Argus and will keep you updated on what I find out. Haha, thanks for #4. I will make sure to know what I am getting myself into before I pitch it to the partners. ", "replies": [{"id": "co4fch6", "text": "Great - I'd like to know what they say!", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "co3fr4j", "text": "It's a little surprising that your lenders don't use Argus. As an analyst for a large lender I have an Argus run for almost every property I work on.", "replies": [], "depth": 1}]