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Level 5
Level 5: Welcome
Level 5 will involve taking a more thorough look through both development costs and the income schedule. Up until now we have just taken a high-level view of both. Accompanied with each is an accommodation schedule which is essentially the backbone of any development appraisal, I’ve never much liked my format for the AS but find it hard to create another that caters for the more detailed modelling later on. Feel free to experiment with your own formats on this one.
Level 5: About
Level 5: Features
Cost Schedule - To arrive at more consistent numbers you will need to break down costs and more importantly, identify the timing of these costs. Heavy contributions and/or detailed design fees can have a big effect on ones IRRS as they are substantial amounts of spend going out the door at the beginning of a project. Consider these like a pre-development spend that need to be incurred before a shovel can break ground on your site.
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Excel functions:
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MOD – This function allows us to factor in costs that we only want to incur ever certain number of months. While I might have introduced this one in what looks a complicated manner, it is simple. The function works as follows; MOD(Number,Divisor), So if we say MOD(7,3) the answer will be 1…7 divided by 3 goes twice with 1 left over. So to manipulate this function we allow our ‘Number’ to be the difference in months between now and our starting point, and the ‘divisor’ is set up as 1 (monthly), 3 (quarterly) and 6 (bi-annual) while the criteria is 0.
Level 5: Features
Income Schedule – The BTR appraisal driver, it is something I like to look at in a lot of detail. If you are coming from a BTR, residential management background or ever been a Landlord in Ireland before, this should come more naturally to you than someone looking from the outside in. It is a very bread and butter look at residential investment, but you’d be surprised how much it gets overlooked.​
Whilst every effort has been made to ensure complete accuracy, BTR Ireland accepts no responsibility to anyone whatsoever for any errors in this financial model or for any error or loss that may result from using it. Potential investors and their professional advisers should review and carry out their own due diligence on this financial model themselves and form their own views in relation to the reasonableness, completeness, accuracy of calculations and achievability of the projections.
Level 5: Text
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