Commercial / Industrial Development, Version 6
Our big news this month is about a major upgrade to one of
our top products. Since 1983 "CID"
has been one of our most popular applications, providing income-property
developers with project cost analyses and budget pro formas
for build-and-hold as well as build-and-sell scenarios.
If you are developing an apartment building, shopping center
or other commercial property from the ground up
-- or if you're renovating
or expanding an existing property --
then the new
CID can be an essential tool as you plan your project,
evaluate its feasibility, solicit partners, and seek financing.
New Version 6 is really more than an upgrade. Users have been
asking if we could provide a month-by-month development pro
forma for income property, much as we do in our On
Schedule program for subdivisions, land and condos.
And so we have added a complete new mode of analysis
to CID. You can still utilize the "classic" analysis
the style that has been popular for so many years --
but now you can also choose a new month-by-month mode, where
you can take advantage of these unique features:
- Switch between modes with a single click
- Enter development costs by category by month
- Allow lease-up of some units to proceed in parallel with
development of other units
- Draw upon the development loan monthly, as needed, with
repayments based on revenue
- Generate partnership reports for individual partners
- Break down construction into as many as 8 unit types.
Each unit type has 28 construction cost categories.
Easily configure the length of time to build units.
- Break down monthly costs into 33 soft cost categories and
48 hard cost categories
- Easily configure income, vacancy and operating expenses
for all units on a monthly basis
- Print 15 Pro Forma Reports
- Use new Version 6 for residential, retail, commercial and
If you are a registered user of Version 5, look for
an upgrade notice in your email (and please do check
for it inside your spam filter). If you purchased the program
since January 1, 2009, your upgrade is free. If you purchased
earlier, it's available for a small upgrade charge --
but that price is good only until July 17.
If you've never used CID, this is a great opportunity
to add extraordinary power to your development analysis capabilities
month-by-month projections, partnership analysis and more.
Commercial / Industrial Development, Version 6 is
available for immediate download for $395.
Networking for Developers and Building Professionals
month's Dispatch included an article about social networking.
I spoke then about blogging
and about social networks like LinkedIn,
and even more about the biggest phenomenon du jour, Twitter.
Since our lead story today is about development, this is a
good time to tell you about a networking site designed specifically
for developers and for those in the building professions: UPworld.
We'll let the UPworld folks describe the site in their own words:
"UPworld is an easy-to-use networking platform for
real estate and building professionals, such as architects,
designers, planners, contractors, and developers. UPWORLD helps
professionals find projects to work on and helps project owners
build effective work teams with the right professionals."
You can network with other professionals in the field; you
can also post job and development opportunities, as well as
requests for proposals and for professional services. Membership
is by invitation or a simple online application. Check it out
I mentioned recently that Commercial
Investment Real Estate, the magazine of the CCIM
Institute, had featured my latest book, Mastering
Real Estate Investment, in their May/June 2009 issue
A few weeks later, Tara-Nicholle Nelson of Inman
News reviewed my original magnum opus, What
Every Real Estate Investor Needs To Know About Cash Flow...And
36 Other Key Financial Measures (2nd Edition). In her
the purchase pencil out," she was kind enough to describe
it as an "...almost classic book... ." You can read
the whole review if you subscribe to Inman
News; otherwise, an excerpt is available to non-subscribers.
While we're on the subject of books, we would like to tell
you about a new addition to realdata.com, The
RealData Bookstore. It's a cozy little place, with a selection
of what we think are some of the best titles for investors,
developers and agents --
but sorry, you can't get a latte there.
Please understand that this is not an automated list of best-sellers,
but rather a collection of titles that we have hand-picked.
(Don't mean to sound snobby, but there are a few real estate
"best-sellers" out there that I wouldn't use to prop
up the short leg of a coffee table. Maybe more than a few.)
We've included some classics that real estate investors have
relied on for years, and also suggested some newer titles that
we feel merit your attention. Of course my own books are listed
objectivity has its limits.
I hope you'll take
a look --
and I also really hope you'll send us your recommendations for
new titles to add to our list.
Heavyweight Counting Down
Last month my friend Dan Auito released a compendium of real
estate articles called Be
a Real Estate Heavyweight.
Fortunately it's on CD, because the 95 authors who contributed
to this encyclopedic project generated about 1,400 pages on
topics ranging from marketing strategies to creative finance
to short sales.
Dan tells me that the price for the download version
currently $79 --
will be going up to $147 on Friday, June 19. You can download
two sample chapters from the link above. If Be
a Real Estate Heavyweight is on your wish list, keep
an eye on the calendar to get the best price.
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