Steve Faulkner

Just this week a new and exciting software release was made available to us for testing! HomeReplay LLC and its founder Gary Geist are making available their Rental Analyzer software. I've had a chance to try this software for a few days and look at its features. I'll try to hit some of the highlights of this unique deal analyzer.

The Rental Analyzer works just like an Excel spreadsheet. Data entry is quick and easy with helpful notes to guide you through the input. The first tab is data entry and requires some basic information like address and contract price. The software is intended to help analyze properties that are being bought for rehab and long term rental. You have the chance to enter % values for routine expenses such as advertising, pest control, lawn care, etc.

The second tab gives the investor a chance to rate the condition of various parts of the property like windows, roof, electrical. Just enter the correct code for your region of the country and rehab costs are estimated for you.

There is a tab that gives you a chance to list 5 different financing scenarios, and another that gives a complete financial projection including graphs, income and expenses and the monthly debt to payment ratio. This software will have your banker smiling from ear to ear since most of the work analyzing your loan is already done.

The next tab shows a complete income breakdown including a prospective rent roll and a five-year cash flow graph. The final tab is the summary page with property photos and a great synopsis of everything related to the property.

The software is easy to use and really simplifies the analysis of any deal. The printout is a better quality product than many commercial real estate appraisals I have seen. It should really simplify the decision making process and make getting a loan much easier.

We'll be the first to let you know as soon as this great software goes on sale. I would heartily recommend it to everyone from the novice to the more experienced investor.