REIA Professional

Key Features:

  • For all existing income properties
  • Powerful commercial income module
  • Partnership module w/ advanced features
  • Development analysis for value-add, renovation, even ground-up construction
  • Unmatched feature set in its price range
  • Four decade track record
high-rise commercial buildings

Looking for financing or equity investors, or need to deliver a killer proposal to a client? REIA Pro will help you make your case with compelling presentations to lenders, partners, clients and customers. It’s the real estate investment analyst that you need on your team.

Evaluate your investment property with our Real Estate Investment Analysis (REIA) Professional Edition software, now in its 20th edition. With its easy-to-learn, user-friendly interface REIA gives you detailed financial reports to show the true investment potential of commercial and residential income properties.

Analyze Properties Anywhere: Easily adjust international currency symbols, metric measures, use Canadian loan amortization, hide US-specific tax calculations.

New Features in Version 20

  • Optional 24-month development period with entries for all your hard and soft costs, construction markup, development loan.
  • Expanded Basic Income for Residential, Apartment Buildings and commercial properties: Add rows to expand the number of units by dozens or hundreds for any size project
  • Improved Renovation Period for Basic Income – take units offline for renovation, easily handle vacancy loss and rent increase upon completion
  • New Decision Maker Report
  • Improved documentation, cell notes, knowledgebase – We have been busy editing the existing content and added new content in the product, the user guide and on the web site.

New Features in Version 18

  • Value-add vacancy allowance – The Residential Income worksheet now includes (beginning in build 1.18) data entry to indicate a year and number of months to specific vacancy for each line item unit type. If you are renovating or otherwise working on a value-add multi-family project, you can quickly and precisely show rental loss while you are renovating units.
  • Lease Renewal Assumptions (LRA) – New in build 1.06 – A way for you to store sets of parameters about different commercial lease rollover scenarios, parameters which you can use over and over when entering tenant information in REIA Pro. What is the probability that a current tenant will renew? How long do you think the space will be vacant if a tenant chooses not to renew? Read more in our knowledgebase article
  • Fiscal Years – You can now choose to display fiscal years in the form “Year 1”, “Year 2” and so on, which don’t necessarily correspond to calendar years. Just select the “Fiscal Years” checkbox on the General worksheet.
  • Partnership Syndication Fees – You can now specify an acquisition fee, asset management fees and a disposition fee to be paid to the general partner or managing member.
  • Capitalization Rate by Year – When estimating the selling price, you can use a separate capitalization rate for each possible year of sale.
  • Single Photo Page – Use this free-form report to add a property photo, floor plan, map — any image file. Use in conjunction with any other reports.
  • Property Narrative – Include a page of narrative text, such as a summary of the location or a list of zoning restrictions, as one of the reports to tell the property’s story.
  • Order of Reports – When printing reports, you can choose the order in which the selected reports will appear. Just drag the report to the appropriate position on the Print Reports list!
  • Globally Adjust View – This new function that allows you to apply a global view setting across all the sheets. Increase or decrease the size of everything to your liking.
  • Improved documentation, cell notes, knowledgebase – We have been busy editing the existing content and added new content in the product, the user guide and on the web site.

New Features in Version 17

  • Tax Calculations: There have been significant tax changes for 2013, including a higher capital gain tax on some sales and the new so-called “medicare tax.” We could have made your data input here as complicated as filling out your tax return, but instead we’ve tried to keep it simple. Enter your best estimate for your ordinary and capital gain rates (we give you a pop-up table of brackets to help you decide). If it looks like the subject property will generate enough income by itself to push you beyond your estimated brackets, we’ll display an alert.
  • Less Taxes, Better Internationalization: Frustrated with the growing complexity and uncertainty of the tax code and prefer to make their pro forma analyses of potential investments on a pre-tax basis? If that’s your preference too, then you’ll appreciate this new feature: With a simple check-box you can tell the program to suppress all mention of U.S. taxes from your worksheets and reports. Combine this with the existing options for international currency symbols and units of measure to analyze a property in any country.
  • Waterfall Calculations: In the Partnership Analysis you now have the option to select up to four tiers each for the distribution of cash flows and sale proceeds. The program will help you keep your range entries properly sequenced. This is just one of a number of advanced features that you typically find only in programs costing many times the price of REIA. View screenshot
  • Individual Pass-Through Bases: In the Commercial Income module you can now define the base amount for pass-throughs on a tenant-by-tenant basis.
  • Tenant Improvements in Wizards: TI are now included in the “new unit” and “rollover” wizards. See it
  • More Key Metrics: Now you can see all of the key metrics for your analysis on the Decision Maker worksheet. One-stop shopping for what you need to know. View screenshot
  • Lease vs. Buy: We’ve given the Lease vs. Buy Analysis a complete makeover. The analysis has a new look, and also provides a new summary cash flow and resale report designed from the point of view of an investor who is an owner-occupant.
  • Didn’t Upgrade to Version 16? Then you’ve been missing the Decision-Maker stress-test module; new worksheets for self-storage, hotel and continuing-care retirement; detailed capital improvements worksheet and report; and more.

New Features in version 16

  • Decision Maker – Build your analysis then adjust all key input variables from a single worksheet. See how the deal performs by tweaking your inputs.
  • Detailed Capital Improvements – Itemize capital improvements with up to 28 line items per year or use our traditional single line item entry.
  • Import Utility – Grab your data from a version 15 file or previous build of version 16 in just one click.
  • Detailed Closing Costs – optionally itemize up to 12 different closing costs.
  • Improvements to reports including Cash-on-Cash for partnership
  • IRR and MIRR added to Potential Deal-killer Highlighting
  • Four new income worksheets including property-specific income sheets for 3 new property types including continuing care and self storage.

New Features in version 15

  • Presentation — Brand your reports with your company logo or personal photo. Add property photos to your presentations with just a click.
  • Globalization — Choose Canadian-style loan calcs, international currency symbols and metric measures
  • Analysis — Use our new “alert” feature to warn you of potential bad karma in your deal — for example, inadequate debt coverage.

New Features in version 14

  • Entirely New Look and Feel – REIA Pro has a new color schema, clearer highlighting of data entry cells, clearer division of sections within program
  • Completely revised and improved central print dialog – print any and all reports from one easy to use form!
  • New Quick Analysis mode
  • Revised Basic (residential) and Advanced (Commercial) income worksheets – more options, faster, efficient data entry. Now includes commercial rollover and new-unit wizards.
  • Revised financing section with new loan options
  • Expanded Partnership Analysis with features not found on any competing product in its class
  • New reports include Executive Summary, Loan Amortization and Quick Analysis
  • Completely revised macro code – over 10,000 lines of custom programming rewritten for speed, efficiency, and error-trapping
  • New optional add-on product for Comparison Analysis
  • New optional add-on product for Portfolio Analysis

Real Estate Investment Analysis (REIA) is income-property investment analysis software for all who deal with commercial or residential income properties: individual and institutional investors, developers, brokers, appraisers, lenders, attorneys, accountants, portfolio managers, financial planners, builders and architects. REIA allows you to produce a comprehensive 20-year projection for any type of commercial or residential income property, and construct anything from a simple and straightforward analysis to a highly sophisticated investment and partnership scenario. A detailed and flexible Annual Property Operating Data (APOD) worksheet allows you to project up to 23 individual line-item expenses, pass selected expenses through to tenants and report the results in total dollars, dollars per square foot and dollars per unit.

The Cash Flow and Resale Analysis module allows you to enter assumptions about the purchase, financing, resale, taxes, and operation of the subject property and to use this information to project the before- and after-tax benefits of ownership and resale. You can then let the program carry the before-tax data through to help you model a comprehensive partnership analysis.

Our Commercial Income module handles more than 1,000 commercial units; wizards makes it easy to add and edit units and to enter assumptions about lease rollovers. A separate Basic Income module lets you work with apartment, mixed-use properties and simpler commercial properties. Make projections about current and future rent income for individual units or groups of units.

New in Version 20 – An optional 24-month development phase with drawdown construction loan for value-add, renovation, even ground-up construction – then see how holding the property produces returns over time.

Included within the software are detailed income and expense projections, before- and after- tax cash flow calculations, IRR, MIRR, PV, cap rate and other ROI measurements.

This latest release of our most popular product is even easier to use than before, while offering substantially greater functionality.

REIA is a single Excel workbook comprising multiple, integrated modules and driven by more than 10,000 lines of VBA programming code:

General Property Information

  • Quick Analysis
  • Basic Income Summary
  • Commercial Income Summary
  • Development Expenses and Cash Flow
  • Annual Property Operating Data (expenses)
  • Cash Flow and Resale Analysis
  • Partnership Analysis
  • Lease vs. Buy Analysis
  • Sensitivity Analysis
  • Loan Amortization
  • Graphs
  • Detailed Capital Improvements
  • Decision Maker
  • Advanced Features, including Historic Rehab Tax Credit
  • 29 presentation-quality reports, including our popular Real Estate Business Plan and Executive Summary

Cashflow and Resale Analysis Key Features:

  • adjustable or fixed-rate financing, interest-only, negative amortization, assumed loans, refinance
  • capital improvements
  • vacancy and credit loss
  • before- and after-tax cash flow
  • amortization of loan points, fees and closing costs
  • reserves against negative cash flows
  • future refinancing of the property
  • projected future value
  • capital gain
  • equity multiple
  • PV, cap rate, IRR, MIRR, debt coverage ratio, cash-on cash and more

Key features include:

  • New Monthly Development option – Input hard and soft costs monthly for up to 24 months with an interest only drawdown construction loan. Great for value-add projects, renovation and repositioning of existing properties.
  • Lease Renewal Assumptions (LRA) – Store sets of parameters about different commercial lease rollover scenarios, parameters which you can use over and over when entering tenant information in REIA Pro. Save assumptions about tenant renewal probability, number of months of vacancy, new and market rental rates and more. Learn more in our knowledgebase article
  • Decision Maker – After you build your basic analysis, you can then adjust key input variables from a single worksheet by toggling values up or down — then, on the same sheet, see immediately the impact each change makes on your key measures of investment performance. Learn more in this blog post.
  • Revenue income worksheets for Hotels, Self-Storage, Continuing Care Retirement, and Quick Commercial
  • Detailed Capital Improvements – Itemize capital improvements with up to 28 line items per year or use our traditional single line item entry.
  • Detailed Closing Costs – break down your closing costs into a schedule of up to 12 line items.
  • Quick Analysis Mode. Complete a full “first pass” analysis of a property on one worksheet in 10 minutes or less. Save time and decide if the property merits a more in-depth analysis.
  • 20-year analysis; most reports can be printed for a user-specified number of years
  • Custom RealData menu added to the Excel ribbon make program features readily accessible.
  • Basic Income module lets you work with apartment, mixed-use and simpler commercial properties. Make projections about current and future rent income for individual units or groups of units. New to v20 – expand the number of units to dozens or hundreds
  • Redesigned Commercial Income module handles more than 1,000 commercial units; wizards make it easy to add and edit units and to enter assumptions about lease rollovers. Here you can deal with mid-year escalations, pass-throughs, abatements, tenant improvements and more.
  • Import data from prior builds and versions -Use our one click import utility to bring your project data into the latest release and build. Works in all builds of versions 15 through 20.
  • Proprietary goal-seeking function, accessible directly from the REIA menu.
  • Quick Start Guide, Quick Help and Cell Notes. These notes make context-sensitive help available without leaving the worksheet. In addition, we have a detailed User’s Guide accessible from the REIA menu.
  • Partnership Analysis now includes features not found in competing products. It can now handle multiple partners and allows greater articulation of capital accounts and partner allocations. Separate reports available for individual partners, all from single print dialog.
  • This is a tax-sensitive program, and of course tax laws are subject to change. Whenever there is an update to this program — for tax purposes or for feature enhancements — we notify all registered users and give you an opportunity to upgrade at a discounted price.

One-Click Professional Reports:

REIA Pro lets you print reports at the click of a button or produce “PDF” report files readable by Adobe Acrobat® or Mac Preview. These files can be easily attached to emails and shared with colleagues, lenders and clients.

  • Use checkboxes in print dialog to select any combination of reports – one or all
  • Combine reports into a single PDF file
  • Select the number of years to print
  • Choose to print one or more commercial unit income details
  • Choose to print partnership reports by one or any combination of partners.
  • Direct printing to any printer or the included RealData PDF printer.

Reports include:

  • Quick Analysis
  • Basic Income Summary
  • Commercial Income Summary
  • Annual Property Income Data (4 different reports)
  • Cash Flow and Resale Analysis (3 different reports)
  • Business Plan
  • Executive Summary
  • Amortization Schedules
  • Partnership Presentation
  • Partnership Analysis
  • Sensitivity Analysis
  • Rent Roll Report
  • Lease vs. Buy Analysis for commercial property
  • Graphs
  • Detailed Capital Improvements
  • Development Assumptions and Development Cash Flow


Optional add-on products for portfolio analysis and investment property comparison.

Add-ons for REIA Pro

The Comparison and Portfolio add-ons are separate Excel files which allow you to connect to individual REIA Pro files that you have created. Each produces its own report using data it gathers from your REIA files.

See the add-ons page for further details.