BiggerPockets

I've been working on this software package for a few weeks now. The software is called "REI Partner", and it 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've created a 'Pre-Release" of the REI Partner program and made it available for downloading. If you want to check it out (no charge or obligation, and you don't have to fill any forms 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.

Nice :)

I put in a few numbers on a recent deal I did - a few suggestions based on that.....

- This home had $0 rehab dollars but you require me to put something in.

- This was an all cash deal - so I had to add up the costs and put it in the out of pocket expenses - since this is software it would be nice if there was a "cash" option and it would just add it up for me

- Be nice if there was a way to change the frrequecy of common things at once - like taxes - or set a defualt so each time I use the program it is set how I want it

- Maybe "reset data" is like a back button - but it would be nice to go back when I am on the final page and play with the numbers

- Gross rent - I had to use my calc as it asked for the year - be nice if it were like the other buttons with a choice

- Maybe some tips from BP worked in - like - this deal sucks or is great (maybe you don't want the liablility of that - never mind!)......

Anyway - I think it is easy to use and in a few min. for those who don't have a spreadsheet it is nice program

Great job.

Hi all,

I just uploaded a new pre-release. The What-If feature has been implemented and a couple of bugs have been fixed. You can download it at:

http://sites.google.com/site/murrayhilltechnologies/Home/REIPartnerPreRelease.zip

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. It's the second URL in my signature below.

Hi Dave
I was waiting for your post since I lost the thread. I tried you program and I have some feedback for you. I haven't tried the PR 5 yet so, some of the things I'll mention, may have been fixed already, but here we go:
1. Have an " exit strategy" no, not a real estate one, but just exiting the program in the middle if I want to. Something like "Cancel" or "exit" button.
2. When typing a figure (number) have it replacing the default 0.It's annoying to type the number then go backspace or delete the zero.
3. Allow "Zero" in "other acquisition costs" and in "Manager vacancy filler" under "Flat fee" (My Birmingham manager don't charge me for filling vacancies)
4. I know your software is aim at professionals but why not accommodate newbies as well. Have data analyzer explanation. Maybe as a bubble (cap rate, ROI, etc) what is the meaning of those numbers.

Overall, this good and useful tool.

Thanks, and good luck.

OK, we're coming down to the wire. I just released REI Partner PR-6, the sixth and final pre-release. Barring unforseen problems or someone coming up with a brilliant idea that I just have to add to the program, it's just about in its final form (except for the fact that there aren't any help screens yet).

Eddie, I've taken your advice and now allow "0" as a valid entry for property management fees. In addition, you can safely exit from anywhere now without losing any data. Also, you can now move between modules (Docs, Contacts, Analysis, etc) without having to start at the beginning.

You can download PR-6 from my web site. (The second url in my signature.)

I've been trying to keep the web site updated, but I've fallen a little behind in that regard. The screenshots on the web site are old. I'll be updating them as soon as I get the chance.

As always, I encourage your feedback, and thanks to all who have contributed so far.

It's done!!

I just release version 1.0 of REI Partner.

REI Partnerâ„¢ is a software solution designed by real estate investors, for real estate investors. We've taken our own real estate investment experience and combined it with knowledge contributed by many top-notch professionals in the industry to bring you a program that we think you will find indespensible as a real estate investor yourself.

The program consists of four components: Cash Flow Analysis, Document/Photo Importing, Tasks/Notes, and Contacts.

Download your copy from our NEW WEB SITE at http://www.murrayhilltech.com (the second URL in my signature).

Thanks to all of you for the great feedback. Keep it coming!