On Schedule Version 5 - In Detail
On Schedule is the choice for developers who need cash-flow planning and analysis for housing subdivisions, land developments and condominium projects -- or with any project that is built and sold in stages. Itemize construction and development costs, plan your development loan draws and repayments, estimate project absorption, and then print professional presentations for your lender or partner.
Since 1984 developers have been using this program to plan how they will draw down, use and repay development loans for their projects. This program handles complex cash inflows and outflows for up to 120 months and helps you produce a month-by-month plan for drawing, using and repaying a development loan.
The program also allows you to bring investors into your deal in either general partnerships or LLC business structures. You can schedule distributions to the investors on a monthly basis and provide a preferred return. The Partnership Presentation is one of 13 pro forma reports that you can print.
Graphs and charts to visually portray your development project. The Gantt chart displays timelines of monthly development loan draws and payments as well as timelines of units under construction, sold or settled.
Configure your development loan as either a revolving line of credit or a cumulative draw. In each month you can tell the software to use a portion of cash from unit sales and/or rental income (for condo conversions) to repay the loan.
As a developer you are likely to encounter situations where you have to predict and manage frequent inflows and outflows of cash. You may have numerous groups of units in various stages of construction. Each group will present different cash requirements.
At the same time that you are drawing down funds, you may be writing contracts on units soon to close, collecting the proceeds of sales written several months ago, and applying some of those proceeds to reduce your outstanding loan balance. Your lender will want to know when and how you will use your development loan, and when you will pay it back. What better way to secure your financing than to demonstrate your month-by-month plan?
On Schedule allows you to fine-tune the timing of your construction costs. You can also vary your selling schedule as well as your monthly development costs to compare "best case" and "worst case" scenarios.
On Schedule will help you determine an appropriate month in which you can retire the development loan. Based upon your assumptions, the program will forecast the absorption of the project, and the monthly cash inflows and outflows. The program also estimates how much of the development loan must be drawn each month to meet costs, and monitors the status of the development loan each month.
