Real Estate Analyst
I have worked for real estate developers, lenders and equity investors as an independent real estate analyst since 1984.
Services
- Feasibility and development pro formas.
- Capital funding and distribution waterfalls, including preferred returns, funding and distribution rankings, participations with IRR hurdles.
- Cash flow projection and calculation of IRR, NPV, DCF for all capital sources.
- Custom software application development.
- Management budgeting with variance analysis.
- Utility meter tracking and tenant billing. Mortgage lender projections, note pool analysis.
Property Types
- Land and lot development with lot sell-out.
- Condo and townhome development and sell-out.
- Commercial, retail, industrial development and lease-up.
- Mixed-use projects.
- Hotel, golf and resort properties.
Why outsource?
Most developers instinctively know if their project works, but modern underwriting requires numbers on paper. Lenders and equity sources must see a conservative projection of cash flow from beginning to end. There is no standard format for projecting cash flows. Few developers have the skill or patience to generate compelling and accurate cash flow models. Many developers write their own pro formas either directly or with in-house staff. It's pretty common to spend hundreds of hours training an analyst only to see them move on in a short time. The real risk of ad-hoc cash flow models is inaccuracy. I have seen many waterfall distributions that did not balance. It's hard to recover credibility when errors are found during lender or equity due diligence. I have over 25 years of experience doing project analysis and I can add a lot of value to your team with no long-term commitment.
What is the turnaround time?
For feasibility pro formas, I can frequently have a first draft model completed in one to three billable hours, with delivery the next business day. Complex projects can take longer. I have Excel based pro forma models available for purchase on this website, and I can usually use one of those for you on a service basis. I can deliver pdf reports or Excel models for printing in your office.
Where is the work done?
The time and cost are always minimized when I work in my office. Email, Skype, and other collaboration tools make it simple to serve you wherever you are. I will adjust my schedule to your time zone when we need live interaction. It is a luxury to meet face to face, but technically more costly and not really necessary.
What is the cost?
I can work for you on an hourly or project basis. I accept credit cards through PayPal (through my software product invoices), bank wire transfer and bank checks. After an initial retainer, I will bill time in arrears. My software products are also inexpensive. Sometimes a software purchaser will hire me for a few hours to get started. It's a very economical service with no long-term commitment.
Confidentiality
I will not disclose our client relationship or reveal your project details to anyone. If I develop software for you it will be yours exclusively and I will not use it with other clients or transmit it to anyone or make it available to the public. I will ask for clearance whenever I communicate or send data to your designees or other team members.