Anyone in this business knows that numbers are at the center of every deal, and that understanding those numbers and financial terms as well as you can, will only help you. Which is why I wanted to share an app that I’ve been using for quite a while now - It’s called powerOne FE - It’s a financial calculator available for both Apple and Android in their app stores for $5 (I'm not sure if I'm permitted to post a link to it here, but a quick search in your app store should get you there).
If you are doing deal analysis for flips, wholesales, buy/hold calculations, etc., then the BP calculators are DEFINITELY the way to go! They have a lot more to offer for those specialized calculations and reports. But if you’re looking for more of a general purpose financial calculator then I highly recommend this one. It’s a calculator that has a library of pre-configured financial (and other) calculations that are categorized into groups:
- Real Estate (Property Calculator, Mortgage, Gross Rent Multiplier, Cap Rate)
- Business (Depreciation, Breakeven)
- Finance (Time value of money, Commercial Leases, Loans, Cash Flows, Auto Lease)
- Investments (Bonds, ROI, 401k, IRA)
- Construction (Drywall estimator, crown molding angles, stairs)
- Conversions (Date, area, length)
There are many more templates available in the app than what I have listed above. Those are just some of the ones I use most often and a few others that I saw. Another bonus is that it has tutorials for how to use and apply these calculations using real world examples. It’s a great way to run numbers and learn about the different calculations, especially when you’re on the go.
I am not affiliated with the company that developed the app, I just think it’s a great resource and wanted to share. Enjoy!
Thanks for sharing. Tami
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