Hi all,
Have been reading a lot lately re: working the numbers before a purchase. All the programs available on the web seem to be real expensive. Can anyone share a program or two which may be helpful in working out whether an investment is a smart buy or not?
Any calculators or programs would be greatly appreciated.
(this includes income tax, depreciation and simply cashflow calculators or spreadsheets,etc).
Thanks again,“Practise doesn’t make perfect. Perfect practise make perfect”.
Lee
Hi Lee
How good are you at spreadsheets?
It is not too hard to write a spreadsheet for yourself. It just takes time and effort which you may be better using looking for good properties. A few hundred dollars buying good software easily pays for itself if it means you can easily do what-ifs to your scenarios.
If you do decide to write it yourself, just remember to take into account all expenses including repairs (you will need to estimate this as it depends on the property and the tenants), management fees and all government charges, taxes, levies, duties, etc.
Margaret
Originally posted by mum:Hi Lee
How good are you at spreadsheets?
It is not too hard to write a spreadsheet for yourself. It just takes time and effort which you may be better using looking for good properties. A few hundred dollars buying good software easily pays for itself if it means you can easily do what-ifs to your scenarios.
If you do decide to write it yourself, just remember to take into account all expenses including repairs (you will need to estimate this as it depends on the property and the tenants), management fees and all government charges, taxes, levies, duties, etc.
Margaret
Thanks Margaret,
Can you suggest a couple of programs I might wish to look into paying for? I am terrible with Excel…
If I have to pay, then I have to pay for it.
Thanks again,“Practise doesn’t make perfect. Perfect practise make perfect”.
Lee
Hi Lee
Have you investigated the ones sold on this site? Go to Online Shop and browse. Then ask on the forum re the different programs and how useful they are. I don’t yet have any of them so I can’t help you there. I only know they come recommended by many others.
Margaret
Hi Leewizza,
I do not use these so am unable to verify accuracy but they may be of assistance. Be aware that tax threshold changes, depreciation rule changes and so on are constant and as such may (or may not) affect the accuracy of these.
Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958Thanks Derek for suggesting ez-rent.
I can tell you that with EZ-Rent 2.5 I adjusted it to handle income tax rates based on the last federal budget. I also added a ‘bracket’ creep option so people can simulate future income tax scales being adjusted..
I don’t plan to add anymore features to EZ-Rent unless people have really compelling suggestions, but I will keep it up to date with any tax and depreciation rules that come by..
cheers
EZ-Rent. The freeware tax and cashflow simulator for Australian property investors. Version 2.5 out now!
http://www.ez-rent.comHi Ezrent,
A comment you may want to take on board (FWIIW) – have you considered renaming your calculators eg.
Ezrent Version XYZ – 0506 Financial Year
This may make it easier for joe public.
Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958Hi Lee
Have a look at Investment Detective in the online shop. It is capable of evaluating potential properties and portfolios as well as tracking your existing properties. It does all the number crunching for you.
Regards
Philip Batey
Investment Detective
The best way to crunch the numbers and manage your portfolios
https://www.propertyinvesting.com/resources/24.htmlGood to remember that the program will only be as good as the information that you feed it. So don’t pend to long “playing” with the number. Just put the real projections and rental assesments in.
regards
Don
D&L Property Projects Ltd
Sourcing Quality Investments in New Zealand.Email to receive current deals & New Zealand Information Sheet.
[email protected]Don Nicolussi | Mortgage Broker - Home Loan Warehouse
http://homeloanwarehouse.com.au
Email Me | Phone Me"I think of finance as a technology, a way of getting things done." Robert Shiller
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