Posts from November, 2009
Spent the last couple of days working on bug fixes and enhancements based on user feedback. (Thanks to all who have participated.) I've also begun working on the help screens, which will pretty much double as documentation for the web site. If you want to see the docs, you can go to the web site at:
http://sites.google.com/site/murrayhilltechnologies
and just follow the REI Partner links.
The final release is still about 2-3 weeks away I think. Don't want to rush it.
I've been working my butt off and it's starting to pay off. In addition to cash flow analysis, the REI Partner application now supports importing of documents and photos, adding tasks and notes for each property, and adding contacts for each property.
You can now also save your work and come back to it later. This pre-release allows you to save up to 3 different properties.
I'll be doing another pre-release in few minutes, and maybe one more after that before the official release.
PLEASE take a look at it and give me your feedback. Opinions and suggestions are encouraged. You can download it at:
http://sites.google.com/site/murrayhilltechnologies
I just uploaded Pre-Release 4 of REI Partner to my website. I've decided to take the program in a slightly different (or additional) direction. In addition to being able to use it for cash flow analysis, users will also be able to import property photos and documents. There will also be a section for notes.
The program is becoming more of an all-around tool for RE investors. I'll keep you all posted on its progress. You can download a copy from my Murray Hill Technologies web site at http://sites.google.com/site/murrayhilltechnologies .
I've decided to add some additional features to REI Partner before its final release, which is still a few weeks away, I think.
I'm going to allow users to import property photos and documents. I think that'll really empower users to get a handle on each of their properties. Sometimes the hardest part of REI for me is keeping all the information together on prospective (and purchased) properties.
So I guess this program is going to become a little bit more than my original plan for it, which was just a cashflow analysis program. (My ORIGINAL original plan was to write something I could use myself that would be a step above a spreadsheet.)
I also did some work on the Murray Hill Technologies web site today. Feel free to take a look at http://sites.google.com/site/murrayhilltechnologies . I'm hosting it at Google still until (if!) it takes off. Then I'll probably purchase a domain name and host it somewhere else.
That's it for now!
Worked on REI Partner for a while today after I got home from work. Found and fixed a couple of bugs in the What-If feature. Also added some functionality to the expenses screen.
PreRelease 3 is available at:
http://sites.google.com/site/murrayhilltechnologies
Been working all day despite the flu. I was able to get the What-If feature working, and a few other things. The new version can be downloaded at:
http://sites.google.com/site/murrayhilltechnologies/Home/REIPartnerPreRelease.zip
Let me know what you think!
I've been doing quite a bit of work over the past couple of weeks and I finally have something to show for it. I've created a 'Pre-Release" of the REI Partner program and made it available for downloading. If you want to check it out, you can download it at:
http://sites.google.com/site/murrayhilltechnologies/Home/REIPartnerPreRelease.zip
Please let me know what you think. I'm open to any suggestions. And thank you to those who have already helped.
Please note: The program uses Microsoft's .Net 3.5 Framework. If you already have it on your PC, the download should be pretty quick. If you have an earlier version, the install package will first download and install the framework which may take a few minutes prior to doing the installation of the "REI Partner" software itself.
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.
