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Joseph
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Basic residual land model attached (not cashflow based). It includes a residential and commercial illustration.
July 23
Joseph is now connected to Daniel Chow and Meg Mi
July 23
Sorry, By the way, if the intention is not to repurchase the building but to enhance the land by obtaining a planning permit for another building (i.e. commercial/residential), and then sell the site at the end of year 5, then the analysis is diffe…
July 23
Hi guys, I am going to make it simple, therefore spreadsheet attached (for illustrative purposes only). You will find some comments about my assumptions. I am not discussing the residual land component (as it will depend on what you can put on the…
July 22
In my case we have an assumption that the land will be leased and each year there is an cash flow till 10 th year where the residual value is calcualted (model attached) 1. Now, my query, is do we have to take all the outflows of the 10 yrs + the i…
July 7
Hello Every body I have been following this discussion on Waterfall IRR dist. I have tried to understand the excel sheet attached. I didnt understand that why after a point of time,the cash flow is not distributed among investors and developer Is i…
July 7
Hi John, What you need is a good feasibility study to back the financement of the project (assuming you don't fund it yourself). I will make some basic assumptions: 1. only 70% of the 23 acres is developable (because I suspect you want to retain e…
March 14
Please find Matt H evans Financial Forecast Model, it's really easy to understand . Rgrds
August 27, 2009

Profile Information

Profession:
Property/Real Estate
Current Role:
Real Estate Investment
Past Experience:
Corporate/Commercial Property Lawyer
Education:
LL.B, M. Property, Grad.Cert.App.Fin
Professional Skills & Interests Summary:
Property/Real Estate professional with over 7 years experience. Key skills include:
- strong property/real estate transactional background.
- experience includes direct exposure to cutting edge property/real estate transactions and projects across various sectors of the property market. With project sizes from $50m to $350m.
- substantial experience across property acquisition, direct investment management, development and property funds management.
-strong knowledge of property funding requirements, property investment principles, valuation techniques and their application to complex financial models.
- solid legal background with an emphasis on commercial property law. As a Lawyer I was directly exposed, among other things, to complex property matters across commercial retail leasing, acquisitions and sales, disposals, finance and joint ventures.
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Joseph's Blog

Joseph

S curve distribution - Project Finance

Dear all,

I am currently working on complex financial property model.

I would like to know if anyone know how to create an S curve distribution on excel for a specific period of time (e.g construction period). Currently, my model has an if statement (which I can control from my assumptions page)which says something like:

"=IF(OR('Stage-Floor 1'!G25<=Construction_period_1,'Stage-Floor 1'!G25>Construction_end1),0,(Raw_Land_Value_per_Lot*Lots_per_stage_1)/Total_const_period_1).

In my cash… Continue

Posted on December 16, 2008 at 6:51pm — 9 Comments

Comment Wall (6 comments)

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At 11:17am on October 3, 2008, Steve Sample said…
Thanks Joseph,

The model I currently creating is somewhat of a blend of the two you attached. The setup is much like the one using NPV, but the reasoning is based on IRR like in your first run at it.

My model is just a little bit different in that the investor gets 100% of their equity investment back before any splits begin. I may post it for you to take a look at when I am done to see if you detect any inaccuracies in my reasoning.

Thanks for your help,
Steve
At 9:04pm on October 2, 2008, Joseph said…
static models.xls

More - again not CF based
At 9:01pm on October 2, 2008, Joseph said…
Hey sorry consider static model for Bert
At 9:01pm on October 2, 2008, Joseph said…
static models -BERT 130807.xlsanother 1
At 8:59pm on October 2, 2008, Joseph said…
static models.xlsHi Steve a couple of basic models attached.

Please note these are not CF based and are only really valid for short project (appr 1 year). It is really a 'back of the envelope" or "quick and dirty" type of analysis to see what you can pay for the land. If it doesn't work this way your CF can only be worst because of capitalised interest on borrowings. Please note the GST on land was creating a circular reference thus it is not exactly 10% be aware of that. In this case you work on a Net Development Value (that is the profit margin is based on what is available for the land).

Cheers.
At 5:32pm on October 2, 2008, Steve Sample said…
Joseph,

I am working on a waterfall CF with parameters very similar to the example in your post. I was wondering if you are still using your last model posted that utilizes the NPV calculation? Have you found or developed any other models that you could share?

Thanks,
Steve
 
 
 

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