BiggerPockets

About two weeks in...

Thursday, June 11

OK, I've been working on this new software package for about 2 weeks now.  The software is meant to assist investors in residential rental real estate in evaluating a potential deal for future cashflow.  I'm incorporating some of the ideas I've read about on the Bigger Pockets web site, such as the 50% rule, 2% rule, etc.  It's windows-based software, written in C# (for those of you who know/care about such things).

The basic idea is that a user will enter data about the property, such as purchase price, expected expenses, vacancy rate, gross income, property management fees, etc.  Also, sources of funding: mortgage(s), out-of-pocket, etc.  The program will then generate a spreadsheet-like grid that will detail everything from monthly cashflow per unit to ROI to NOI to CAP rate.  As mentioned earlier, users can also choose to apply the "50% rule" or define their own criteria for taking unforseen expenses into account.  A "What-If" type of feature will allow users to make changes to the criteria once results are generated and immediately see how those changes effect their cashflow. 

I'm open to suggestion as to what other features, calculations, and/or formulas BP users might find useful, so feel free to comment.  I'm considering making pre-release versions available for download for testing/evaluation/feedback as well if enough people express interest.

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