Income PIE - Financial Analysis Software 
for Income Producing Property

		Time periods (report columns) may be a combination of months, quarters and years. A combination of pre-defined and user-defined revenue and cost items. The ability to assign each cost item to loans for funding purposes. Accommodates a product mix of up to 9 apartment types and multiple office and retail tenants. Direct Construction expenses may be spread monthly. Ability to override all model calculations on a period-by-period basis. Pre-financing and after-financing discounted cash flow measures including net present value and internal rate of return. Automatic calculation of equity financing which may reflect wholly owned or joint venture projects. Time-phased consolidation of Cash Flow/ Loan Flow/ Profit & Loss/ Balance Sheet reports. Variance reports comparing initial Budget versus Actual/Plan for project to-date and to completion basis. Back to top
		The Cash Flow Forecast displays the results of a detailed process by which all cost and income items are spread across the months (or quarters or years) of the project. Income-PIE's Cash Flow Forecast clearly displays the construction expenses, operating cashflows and sales proceeds in each year of sale.The net cash flow before financing is then displayed and becomes the basis for the pre-financing discounted cash flow analysis consisting of net present value and internal rate of return. Back to top
		Income-PIE performs detailed analyses for any combination of a purchase note for the acquisition of the land or the existing building and a construction loan that may actually represent several construction loans. The construction loan can then be taken out by a permanent loan which can also be taken out sometime in the future. Equity financing can be automatically computed to cover the net funding requirements. The amount of the construction loan may be determined as an input loan amount, as a percentage of costs assigned to the loan or equal to the balance of the permanent loan to be funded later. Each loan is subject to a separate loan fee percentage and interest rate. The interest rate may be a stated rate or may fluctuate as a stated number of points over a prediction for the prime rate. Interest reserve amounts may be stated for each loan. The interest reserve will be withheld from drawable funds and will be used to cover interest costs until the reserve is depleted. Loan draws are made in accordance with the forecast of drawable cash flows assigned to the loan. It is an easy matter to override the loan draw amount or to provide a positive or negative increment to add to the calculated loan draw for any period. The equity financing category covers net funding requirements so as to maintain a cash balance of zero (or a stated cash reserve amount) until positive cash flows are available to repay the equity balance(s) and any returns) on equity. Any remaining cash is distributed as available. The equity funding and distributions of cash may be on the part of the developer alone (wholly owned project) or may represent a joint venture participation between the Principal and the Partner. Back to top
		The Equity Financing category covers net funding requirements so as to maintain a cash balance of zero (or a stated cash reserve amount) until positive cash flows are available to repay the equity balance(s) and any return(s) on equity. Any remaining cash is distributed as available. The equity funding and distributions of cash may be on the part of the Principal alone (wholly owned project) or may represent a joint venture participation between the Principal and the Partner. A maximum of flexibility is provided to alter the default rules that apply to the joint venture participation. A cash flow analysis section summarizes the net cash flow before financing, and the loan fees, interest, draws, and repayments for all loans in aggregate. The report then displays net cash flow after financing, cash balance, loans outstanding, maximum equity requirement, and maximum loan exposure. A summary for each equity partner is also displayed including the net present value and internal rate of return for the cash participation. Back to top
		The Profit & Loss Forecast produces a period-by-period income statement for the project based on generally accepted accounting principles. Commissions & Closing Costs are expensed directly as incurred at closes of escrow. Balance sheet assets include cash as well as capitalized cost balances. Liabilities and capital include all loan balances, property tax, net cash invested and cumulative profit. Back to top
		The Hold Period Analysis report displays the Net Operating Income (NOI) and projected sales price based upon a given Capitalization Rate for each year. Pre-tax sales procedds for each year are then displayed along with the IRR for each respective holding period, i.e., 3 years, 4 years, etc. Back to top
		With this module, you can describe leases in more detail with different square footages, rents, expense pass-throughs and percentage rent clauses. The individual tenant rental streams are then calculated with the total revenue projection passed to the Cashflow report automatically. Back to top
		Income-PIE performs a time-phase consolidation of any number of apartment and commercial properties Cash Flow/ Loan Flow/ P&L/ Balance Sheet reports in a single step. Consolidated reports may also be brought into subsequent consolidations, so the number of reports to be combined is unlimited. Although the primary Income-PIE report handles multiple-phase projects, it may be desirable to perform separate analyses for specific segments of the project followed by consolidating the results for each. This may be the case if the project involves components with totally different property types, or if the financing for components or phases is separate and unique, requiring separate analysis. This feature also allows for the combination of all of selected projects to be undertaken over time. Back to top