Software: SolveIT!
October 10, 2006
SolveIT! by Pine Grove Software is a full-featured financial calculator in a compact executable. It costs $69.95, and a lightweight version called Loan Calculator Plus! is available for free.
Features:
Financial - loan calculators, NPV, IRR, compound interest, ROI
General Business - budgets, gross profit, net worth, bond values and yields
Financial Advisors – break-even analyiss, lease vs. buy, refinance savings
Depreciation - declining balance, straight-line, etc.
Loans and Debt - Accelerated payment savings, maximum affordable house price, balloon payments, etc.
Financial Schedules – Amortization, annuities, rental income analysis
See below for a screenshot of the dashboard.
I use this program to calculate amortization schedules, loan balances, refinancing options, etc. etc. It really is an invaluable tool for someone investing in real estate, or someone with other debts they would like to reduce. The calculators are extremely fast, and intuitive. You can also save your data for further recall. For example, I save my amortization schedules so I can reference them later to see how much principal and interest I have paid in various time periods.
I have not used the built-in rental property analysis tool to a great extent. However, it seems to calculate all aspects of the net income of a property throughout its expected lifetime. This includes, rents, vacancy rates, captial gains, and selling costs. Taxes are also estimated based on your present income tax bracket, and all data can be saved for future analysis.
Currently I’m running a trial version of the software, but I plan to register in the next few days. Try it out!
Screenshot:
October 13, 2006 at 11:49 am
[...] The previously mentioned software package SolveIT! does a good job of working out all these costs and showing you when your property will fully pay for itself and generate new income (other than the downpayment). It includes tax benefits, selling costs, appreciation and inflation. Based on my numbers, I will have paid myself back for the downpayment in 2008. After that, assuming no housing market collapse, the net income goes into my pocket, and my equity continues to build. Assuming 1% price inflation, if I sell after 18 years I should net a total cumulative income of $241,800…. [...]