This is an optional module and is not active on all configurations. If you want more information about this module please contact Vitec Capitex.

Cash-flow  for one or many real estates is produced if you have the "page" "Fastigheter i portfölj / Properties in portfolio" active on your configuration. The data entered on that page produces output on a "result view tab" in the application as well as a printable pdf-report.

Picture from GUI - Fastigheter i portfölj / Properties in portfolio

The information entered (imported) to this page produces a casflow report that is presented in the GUI on the tab "Kassaflöde fast / Cash flow r.est"

The information also producse a printable pdf-report for each property that is included in the case as well as an aggregated cash-flow for all the properties.

Example Pdf below

PDF

Definition of KPI:s in the cash flow report (printable pdf)

KPI

Definition

Drift och underhåll / Operating costs

Operating costs divided by the property's total area

Intäkt / Revenues

Total revenues for the property

Utgifter / Expenses

Total cost for the property

Intäkt/kostnad - Revenues/expenses

Total revenues divided by total cost

Brutto kap. faktor / gross capitalization factor

The ratio between a property's market value and its gross revenues

Brutto kap. procent / gross capitalization percent

The ratio between a property's market value and its gross revenues in percent

Netto kap. faktor / net capitalization factor

The ratio between a property's market value and its net operating income

Netto kap. procent / net capitalization factor

The ratio between a property's market value and its net operating income in percent

K/T

Market value divided by Assess value (taxeringsvärde) 

Värde / Valuation 

Market value divided by total area (squaremeter)

Lån/kvm - Loan / Squaremeter

Loan amount for the property divided by total area (squaremeter)

Direktavkastning % / Direct return %

Net operating income divided by market value

Avkastning eget kap (inkl. lån eget kap.)  / Return own cap (incl. loan own cap.)

Sum operating net divided by "cash or equivalent" in percent
The "cash or equivalent" is the downpayment + title deed + mortgage deed + other initial expenses

Avkastning totalt kapital / Return on total capital

Sum operating net divided by total cost in percent
The total cost is "cash or equivalent" + all loans secured by the real estate (the loan amount on the day of the acquisition)

Avkastning kontantinsats exkl amort. / Return on cash investment excluding amortization

Net after sale (excl amort) divided by capital contribution in percent
Capital contribution is the "cash or equivalent" minus not secured loans on the real estate.

Genomsnittlig avkastning exkl amort. / Average return excluding amortization

Return on cash investment excluding amortization divided with the number of years from the acquisition

Break even

Yes when Net after sale (excl amort) is greater than zero

Avkastningskrav uppfyllt / Return requirement met

Yes when "average return excluding amortization" is greater or equal to 10%

Schabloniserat marknadsvärde / Standardized market value

We use the Net capitalisation method (Nettokapitaliseringsmetoden) to calculate a standardized market value per property. The formula is:

"Net operating income / direct return requirement = standardized market value"

We use the first year that int the cashflow report for this calculation and if it is part of a year we recalculate it to a full year equivalent and the eventual one time costs (i.e mortgage costs, stamp duty etc) are eliminated from the net operationg income. The direct return requirement value is the one that is entered on the page "Property in portfolio" see below

Sensitivity analysis (Känslighetsanalys) new standardized marketvalue

We make a sensitivity analysis where we stresstest operating costs, vacancy limit, direct return requirement and than all of these parameters at once. The levels we use to stresstest are at this moment hardcoded but can be changed if required per configuration.

Picture from the cash-flow report