{"id":14754,"date":"2018-09-18T13:16:23","date_gmt":"2018-09-18T17:16:23","guid":{"rendered":"https:\/\/rubyrealty.com\/2018\/09\/18\/the-top-8-real-estate-calculations-every-investor-should-memorize\/"},"modified":"2018-09-18T13:16:23","modified_gmt":"2018-09-18T17:16:23","slug":"the-top-8-real-estate-calculations-every-investor-should-memorize","status":"publish","type":"post","link":"https:\/\/rubyrealty.com\/en\/2018\/09\/18\/the-top-8-real-estate-calculations-every-investor-should-memorize\/","title":{"rendered":"The Top 8 Real Estate Calculations Every Investor Should Memorize"},"content":{"rendered":"<ul>\n<li><strong>CAP RATE<\/strong><\/li>\n<\/ul>\n<p><em>Net Operating Income \/ Total Price of Property. <\/em><em>Example:<\/em><\/p>\n<p>NOI: $25,000<\/p>\n<p>Total Price (Purchase + Rehab): $300,000<\/p>\n<p>$25,000 \/ $300,000 = 0.083 or an 8.3 Cap Rate<\/p>\n<p>&nbsp;<\/p>\n<p>This calculation is mostly used for valuing apartment complexes and larger commercial buildings. It can be used for houses and small multifamily too, but operating expenses are erratic with houses (because you don\u2019t know how often and how bad your turnovers will be).<\/p>\n<p>You want to have a cap rate that is at least as good, preferably better, than comparable buildings in the area. I almost always want to be at an 8 cap rate or better, although in some areas, that\u2019s not really possible. And always be sure to use real numbers or your own estimates when calculating this. Do not simply use what\u2019s on the seller-provided pro forma (or as I call them, pro-fake-a).<\/p>\n<ul>\n<li><strong>RENT\/COST<\/strong><\/li>\n<\/ul>\n<p><strong>Monthly Rent \/ Total Price of Property<\/strong>. <em>Example:<\/em><\/p>\n<p>Monthly Rent: $1,000<\/p>\n<p>Total Price of Property (Purchase + Rehab): $75,000<\/p>\n<p>Rent\/Cost = $1,000 \/ $75,000 = 0.0133 or a 1.33% Rent\/Cost<\/p>\n<p>&nbsp;<\/p>\n<p>This is a great calculation for houses and sometimes small multifamily apartments. That being said, it should only be used when comparing the rental value of like properties. Do not compare the rent\/cost of a property in a war zone to that in a gated community. A roof costs the same, square foot for square foot, in both areas. And vacancy and delinquency will be higher in a bad area, so rent\/cost won\u2019t tell you what your actual cash flow will be. The old 2% rule can lead investors astray, and they shouldn\u2019t use it. But when comparing like properties in similar areas, rent\/cost is a very helpful tool.<\/p>\n<p>&nbsp;<\/p>\n<p>According to Gary Keller in The Millionaire Real Estate Investor, the national average is 0.7%. For cash flow properties, you definitely want to be above 1%. We usually aim for around 1.5%, depending on the area. And yes, I would recommend having a target rent\/cost percentage for any given area.<\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li><strong>GROSS YIELD<\/strong><\/li>\n<\/ul>\n<p>Annual Rent \/ Total Price of Property. Example:<\/p>\n<p>Annual Rent: $9,000<\/p>\n<p>Total Price (Purchase + Rehab): $100,000<\/p>\n<p>Gross Yield = $9,000 \/ $100,000 = .09 or a 9% gross yield<\/p>\n<p>&nbsp;<\/p>\n<p>This is basically the same calculation as above but flipped around. It\u2019s used more often when valuing large portfolios from what I\u2019ve seen, but overall, it serves the same purpose as rent\/cost.<\/p>\n<p>&nbsp;<\/p>\n<h3>\u00b7 DEBT SERVICE RATIO<\/h3>\n<p><strong>Net Operating Income \/ Debt Service<\/strong>. <em>Example:<\/em><\/p>\n<p>NOI: $25,000<\/p>\n<p>Annual Debt Service: $20,000<\/p>\n<p>Debt Service Ratio = $25,000 \/ $20,000 = 1.25<\/p>\n<h3><\/h3>\n<p>This is the most important number that banks look at and is critical for getting financing. Generally, a bank will look at both the property\u2019s debt service ratio and your \u201cglobal\u201d debt service ratio (i.e. the debt service ratio of your entire company or portfolio).<\/p>\n<p>&nbsp;<\/p>\n<p>Anything under 1.0 means that you will lose money each month. Banks don\u2019t like that (and you shouldn\u2019t either). Generally, banks will want to see a 1.2 ratio or higher. In that way, you have a little cushion to afford the payments in case things get worse.<\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li><strong>CASH ON CASH<\/strong><\/li>\n<\/ul>\n<p><strong>Cash Flow \/ Cash In Deal<\/strong>. <em>Example:<\/em><\/p>\n<p>Cash Flow (Net Operating Income \u2013 Debt Service): $10,000<\/p>\n<p>Cash Into Deal: $40,000<\/p>\n<p>Cash on Cash: $10,000 \/ $40,000 = .25 or 25%<\/p>\n<p>&nbsp;<\/p>\n<p>In the end, this is the most important number. It tells you what kind of return you are getting on your money. In the above example, if you had $40,000 in the deal and made $10,000 that year, you made 25%. This is a critical calculation not only when it comes to valuing a property, but also when it comes to evaluating what kind of debt or equity structure to use when purchasing it.<\/p>\n<p><strong> <\/strong><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li><strong>THE 50% RULE<\/strong><\/li>\n<\/ul>\n<p><strong>Operating Income X 0.5 = Probable Operating Expenses<\/strong>. <em>Example:<\/em><\/p>\n<p>Operating Income: $100,000<\/p>\n<p>Operating Expenses = $100,000 * 0.5 = $50,000<\/p>\n<p>&nbsp;<\/p>\n<p>This is a shorthand rule that I judge to be ok. It is for estimating the expenses of a property. Whenever possible, use real numbers (i.e., the operating statement), but this is good for filtering out deals that don\u2019t make sense. Just remember, a nicer building will have a lower ratio of expenses to income than a worse one and other factors, like who pays the utilities come into play. Don\u2019t simply rely on this rule.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li><strong>THE 70% RULE<\/strong><\/li>\n<\/ul>\n<p><strong>Strike Price = (0.7 X After Repair Value) \u2013 Rehab<\/strong>. <em>Example:<\/em><\/p>\n<p>After Repair Value: $150,000<\/p>\n<p>Rehab: $25,000<\/p>\n<p>Strike Price = (0.7 X $150,000) \u2013 $25,000 = $80,000<\/p>\n<p>This is another rule like the 50% rule, although I think this one is better. This one is for coming up with an offer price. Always crunch the numbers down to the closing costs before actually purchasing a property. But if you offer off the 70% rule, you should be just fine as long as your rehab estimate and ARV (after repair value) estimates are correct.<\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li><strong>COMPARATIVE MARKET ANALYSIS<\/strong><\/li>\n<\/ul>\n<p>Unfortunately, there\u2019s no real calculation for this. It\u2019s mostly used for houses, and it\u2019s all about finding the most similar properties and then making adjustments so that a homeowner or investor would find each deal identical. The MLS is by far the best for this, but Zillow can work too (just don\u2019t rely on the Zestimate). For a more detailed explanation, go <a href=\"https:\/\/www.biggerpockets.com\/rei\/real-estate-comps-house-value\/\">here<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<p>In the end, the math isn\u2019t that bad. No rocket science here luckily. Instead, there are just a few handy calculations and rules to evaluate properties before purchase and analyze their performance afterward. Memorize these, and you should be fine.<\/p>\n<p><strong>CREDITO: <\/strong><a href=\"https:\/\/www.biggerpockets.com\/renewsblog\/author\/andrewsyrios\/\">ANDREW SYRIOS<\/a> (www.biggerpockets.com)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CAP RATE Net Operating Income \/ Total Price of Property. Example: NOI: $25,000 Total Price (Purchase + Rehab): $300,000 $25,000 \/ $300,000 = 0.083 or an 8.3 Cap Rate &nbsp; This calculation is mostly used for valuing apartment complexes and larger commercial buildings. It can be used for houses and small multifamily too, but operating [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-14754","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-sin-categorizar","7":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ruby REALTY- The Top 8 Real Estate Calculations Every Investor Should Memorize<\/title>\n<meta name=\"description\" content=\"CAP RATE: This calculation is mostly used for valuing apartment complexes and larger commercial buildings. 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