CREmodel Review – Commercial Real Estate Software
Website URL: http://www.cremodel.com
Review Of CREmodel: Commercial Real Estate Software
CREmodel is software geared towards the small to midsize commercial real estate investor. As it is an Excel based template, it is easy to use. CREmodel is very flexible and powerful in its ability to handle analyzing a variety of different product types – apartments, shopping center, industrial parks, office buildings and mixed use projects. Note, it is not designed for single family residential investing.
There are other software programs which compete with CREmodel (priced at $79) but most are significantly more expensive (some well over $1,000). Others have a rigid format which does not allow for much flexibility. As most real estate investors know, there’s always something a little bit different about each deal. According to developer of CREmodel, their biggest form of competition is not other Real Estate software products but “the guy that keeps building spreadsheets from scratch” for each project. Not only does this waste time but, in many cases, the analysis is riddled with errors (both formula errors and analysis errors) and is sloppy looking which hurts their case when going to the bank for financing or trying to lure investment money.
CREmodel is organized very well and divided into various data entry modules. Once the data is entered, the investor can see the resulting financial calculations such as net present value, internal rate of return and cash on cash returns (to name a few). It is very easy to do “what-if” analysis with a simple change of an assumption. The print feature allows the user to print out the relevant part of the model and include it with their financing or investment package.
According to their website, the developer of the model is an actual real estate developer with an extensive background in financial modeling. The CREmodel Commercial Real Estate software works in all versions of Excel (including Excel for Mac). The files can easily be transferred from computer to computer without having to buy additional copies of the software.
Preview CREmodel site to review: