ProAPOD has updated it’s Executive 10 real estate investing software solution. If you are a current Executive 10 customer, you can obtain this update by logging in to your account page. From the ProAPOD website click the Login link in the upper right-hand corner.
This ambitious software update has been in the making for the past four weeks. Here are some of the major improvements.
- The Assumptions report has been modified to include more analysis details about the property. For example, it provides specific information about all three loans (when applicable). The previous version only included details for the first loan. It also now includes an itemized list for Other Income and Miscellaneous operating expenses. In other words, all the entries you make on the Income and Expenses forms are now included. The previous version did not show these items. It also now includes the details for capital additions and funding (when applicable). The previous version did not show capital additions. The report has also been developed to be “smart”; that is, it will only show the data you include for the property so there is no wasted space on the report for items without data.
- The APOD has been modified in primarily two ways. The amount for “Replacement Reserves” has been relocated from the Operating Expenses and will show as a deduction from the Net Operating Income (when applicable). Since these reserves are not really an operating expense it seemed better suited to merely show it as a deduction from income. The APOD will also show non-funded first-year capital additions as a deduction from income. In other words, if you are planning capital additions in the first year for $25,000 and are going to borrow $15,000 to cover those additions, the APOD will show those details and deduct the non-funded amount (i.e.,$10,000) from the Net Operating Income. The APOD has also been developed to be “smart”; that is, it will automatically format to show only data that you include in the forms so there is no wasted space on the report for items without data.
- The Proforma form has been modified to make it easier to inflate income and expenses (when applicable) as well as adjust the vacancy rate (when applicable). Executive 10 has always enabled you to adjust income, expenses and vacancy rate up to three times for the Proforma Income Statement; this new form will just make it easier to understand and process.
- The Print process has been restructured to make it more seamless. This will be particularly noticeable when printing a PDF. Rather than handling each report selection separately as before with PDF printing, in this update all your selections are handled as one unit. This makes the process faster, easier, and much more seamless. A Help file has also been added to the Print menu with instructions on how to create the PDF.
- Other modifications made to some of the forms and menus are not as significant but worth mentioning because they will enhance your experience when using the software.
It should also be noted that we also eliminated the dollar symbol option and calculator from the software. Neither provided a strong benefit and were deemed unnecessary extra “baggage” that the software would function better without.
You can preview some of the modified reports at Real Estate Investing Software Reports. Click the link “Full Analysis Sample” (opens as a PDF).
Although every effort has been made to insure that the software works correctly, please notify me immediately if you encounter an issue that needs to be fixed.