Hello P.I’s,
Budding investor, 37yo, have 3 properties and have set goal for 2-3 more within the next FY.
….also, first time posting.
What I am really after today is suggestions or offerings of spreadsheets/software that is clean and easy to use and will assist in the evaluation of a property before purchasing.I currently use my own excel but it is not as functional as I would like. With the right input it will tell me a properties Net Return but I need more….more I tell you!
For example it does not run options such as changes in interest rate or change in Interest only or Principle & interest payment options
Nor does it have the ability to automatically calculate Stamp Duty(per state) or LMI estimate (if low deposit)I have looked at the Somersoft PIA but I am not sure how to use it and it looks too sophisticated for my current status.
Happily, I welcome all suggestions and also I would like to meet with any investors(Melb,Syd,GC,Bris) for coffee/chats/education :)
Mainly because I am the only investor in my small circle so really need to build a more relate-able network.
Cheers,
RobertHi Robert
To be able to incorporate a stamp duty calculator or LMI estimator into Excel shouldn’t be particularly difficulty.
Just get the figures from the OSR State you are looking and copy in the formula.
For LMI just run off Gemworths calculator. Whilst each lenders scale will be different at least this will give you a useful guide.
You should also be able to work out Depreciation, Capital Allowance etc at the same time.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
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