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RealData Dispatch - June 2005 back to main newsletter page
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New Version 4.0 of On Schedule

Some software upgrades are more complex and time consuming than others. This one, in a word, was a humdinger…

We gathered a lot of user feedback over the past 18 months and have labored long and hard to enhance the program with important new capabilities. Key among the new features in Version 4 are these:

* New partnership analysis provides for fine-tuned distribution of cash flows to partners as well as preferred return to limited partners/non-managing members.
* Partnership reports permit LLC or Limited Partnership nomenclature and include a presentation-style report.
* New Gantt chart graphically displays time lines for construction, sales and settlement activities, as well as loan-related events.
* Development loan may now be revolving or limited to a maximum aggregate amount drawn.
* Eight new charts provide graphic view of key financial data; new reports for partnership distributions and partnership presentation.
* Developer’s available EOM cash is applied to subsequent month’s development costs, thus minimizing required loan draws and interest.
* You may now apply a percentage of rental revenue toward repayment of development loan.
* There’s even more, including additional reports, improved error handling/data validation and easier data entry.

On Schedule, v. 4 is available for purchase and download from our website for $325. (http://www.realdata.com/p/os/osproductpage.shtml)

If you’re a registered user of Version 3, read on:

1. If you purchased Version 3 via download on or after January 1, 2005, you can download Version 4 at no charge. You’ll receive an email from us with instructions. If you would like to receive the program on CD instead, the cost for media is $11.00 plus shipping.

2. If you purchased Version 3 via download before January 1, 2005, you can purchase Version 4 via download for just $39 until September 1, 2005. After September 1, the upgrade charge is $80 (in other words, don’t procrastinate). Again, you’ll receive an email with instructions and if you want the program on CD, an additional charge of $11.00 plus shipping applies.

3. If you don’t receive your special upgrade instruction via email – because you changed your address or your spam filter ate our message, please go to http://realdata.com/support.shtml and submit an online support form.

Ask Frank: Real Estate Partnerships and Preferred Return

Last month I invited you to write to our help desk with questions that go beyond tech support and address issues more generally about real estate investing. (I’ll renew that invitation now – go to: http://realdata.com/helpdesk/index.php?pid=newticket and "Ask Frank.") One item of interest concerned preferred returns for investment partners. We deal with preferred return in the standard edition of our investment analysis software, but since we also just added it to the new version of On Schedule, the topic may be particularly timely.

Q. Can you explain more about how preferred return works in a real estate partnership? Does it always have to go only to the limited partner or non-managing partner?

A. The first point to make about real estate partnerships – whether limited, general or LLC – is that there is certainly no single, pre-defined structure used by all investors. In fact, you may be hard pressed to find two partnership agreements whose provisions are exactly the same.

Not all partnerships include a preferred return but, in those that do, its purpose is to counterbalance the risk associated with investing capital in the deal. Typically, the investor is promised that he or she will get first crack at the partnership’s profit and receive at least a X% return, to the extent that the partnership generates enough cash to pay it. In most partnership structures, the cash flow is allocated first to return the invested capital to all partners. The preferred return is paid next, before the General Partner or Managing Member receives any profit... (read the rest of this article at: http://realdata.com/learn.shtml.)

Save a bundle with software bundles – special pricing

We continue to have a great response to the re-introduction of our special pricing for program bundles. Many of our customers find that they need more than one of our products and this is a great way to save. Check out the special pricing at http://realdata.com/prodcombo.shtml

Frank Gallinelli

RealData® Inc.

Have you tried our e-course? It covers topics ranging from simple mortgage calculations through property analysis and valuation. Check it out at: http://realdata.com

RealData® Inc. – Software for Real Estate Investors and Developers
P.O. Box 691, Southport, CT 06890

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