Question: Stephan Shlain Ultimate Exam Practice Problem Easy Directions: Fill in the Gold Data Input Area Tax Data: Building Data: Investment Data: Building Ft2 Rent psf

Stephan Shlain Ultimate Exam Practice Problem Easy Directions: Fill in the Gold Data Input Area Tax Data: Building Data: Investment Data: Building Ft2 Rent psf S 40,000 21.00 Purchase Price Other Acqusition Costs Costs of Sale EOY 5 Disposition Cap Rate 6,800,000 25,000 5.00% 8.25% Assessment Land $ Assessment Buildings Assessment Total $ 1,000,000 5,000,000 6,000,000 Other Income $ Operating Expense Ratio YR 1 VACL YR1 2,000 30.00% 5.00% Commercial Financing Data: 3663052564% Property Type Depreciable Life Tax rate Gain rate Recapture Rate Investor Data: 37.0% 20.0% 25.0% LTV DSCR Loan Points Loan Interest Rate Loan Amort Loan Term 75.00% 1.20 2.00% 7.00% 20 6 Capital Improvements Disc Before Tax Disc Rate After Tax Safe Rate for Negative CFS Reinvestment Rate for Positive CFS 12.00% 9.00% 5.00% 10.00% Cost Recovery Tables: Commercial Full Yr % 2.564% 11.5 Mo% 2.461% Residential 3.636% 3.485% Inflation/Variable Rates: YEAR 2 YEAR 3 YEAR 1 NA YEAR 4 2.00% YEAR 5 2.00% YEAR 6 2.00% 3.00% 3.00% Growth 3.00% 3.00% 3.00% 3.00% 3.00% PGI Increase Henti Per Square Foot OE Increase Ciperuntung Rate Other Income Increase Vacancy/Yr 7.00% NA NA 7.00% 5.00% 7.00% 6.00% 7.00% 6.00% 7.00% 6.00% 5.00% Initial Calculations: Initial Equity Investment Price + Acqustion Costs + Loan Fees -Loans -Equity Maximum Loan Amount LTV Loan ADS Constant DCR Loan Max Loan Effective Cost of Borrowing Lender Yield APR Year 1 Ratios Acqusition Cap Rate Cash-on-Cash Op Expense Ratio Breakeven Occupancy Before Tax Cash Flow Analysis: Before Tax Cash Flows Before Tax Sale Yri Yr2 Yr3 Yr4 Yr5 Yr6 Sales Price Selling Costs -MLB Bal SPBT Potential Rental Income -Vacancy & Collection + Other Income =Gross Operating Income Operating Expenses =Net Operating income -Annual Debt Service =Before Tax Cash Flow Before Tax IRR & MIRR Before Tax NPV BTIRR CFO CF1 CF2 CF3 CF4 CF5 Discount Rate Investment Value NPV Mortgage Analysis: 2 3 4 5 EOY Ending Loan Bal Interest Principal PMTs Remaining Financial Leverage: 2 BTIRR Unleveraged BTIRR Leveraged Effective Tax BTIRR ATIRR Effective Tax Stephan Shlain Ultimate Exam Practice Problem Easy Directions: Fill in the Gold Data Input Area Tax Data: Building Data: Investment Data: Building Ft2 Rent psf S 40,000 21.00 Purchase Price Other Acqusition Costs Costs of Sale EOY 5 Disposition Cap Rate 6,800,000 25,000 5.00% 8.25% Assessment Land $ Assessment Buildings Assessment Total $ 1,000,000 5,000,000 6,000,000 Other Income $ Operating Expense Ratio YR 1 VACL YR1 2,000 30.00% 5.00% Commercial Financing Data: 3663052564% Property Type Depreciable Life Tax rate Gain rate Recapture Rate Investor Data: 37.0% 20.0% 25.0% LTV DSCR Loan Points Loan Interest Rate Loan Amort Loan Term 75.00% 1.20 2.00% 7.00% 20 6 Capital Improvements Disc Before Tax Disc Rate After Tax Safe Rate for Negative CFS Reinvestment Rate for Positive CFS 12.00% 9.00% 5.00% 10.00% Cost Recovery Tables: Commercial Full Yr % 2.564% 11.5 Mo% 2.461% Residential 3.636% 3.485% Inflation/Variable Rates: YEAR 2 YEAR 3 YEAR 1 NA YEAR 4 2.00% YEAR 5 2.00% YEAR 6 2.00% 3.00% 3.00% Growth 3.00% 3.00% 3.00% 3.00% 3.00% PGI Increase Henti Per Square Foot OE Increase Ciperuntung Rate Other Income Increase Vacancy/Yr 7.00% NA NA 7.00% 5.00% 7.00% 6.00% 7.00% 6.00% 7.00% 6.00% 5.00% Initial Calculations: Initial Equity Investment Price + Acqustion Costs + Loan Fees -Loans -Equity Maximum Loan Amount LTV Loan ADS Constant DCR Loan Max Loan Effective Cost of Borrowing Lender Yield APR Year 1 Ratios Acqusition Cap Rate Cash-on-Cash Op Expense Ratio Breakeven Occupancy Before Tax Cash Flow Analysis: Before Tax Cash Flows Before Tax Sale Yri Yr2 Yr3 Yr4 Yr5 Yr6 Sales Price Selling Costs -MLB Bal SPBT Potential Rental Income -Vacancy & Collection + Other Income =Gross Operating Income Operating Expenses =Net Operating income -Annual Debt Service =Before Tax Cash Flow Before Tax IRR & MIRR Before Tax NPV BTIRR CFO CF1 CF2 CF3 CF4 CF5 Discount Rate Investment Value NPV Mortgage Analysis: 2 3 4 5 EOY Ending Loan Bal Interest Principal PMTs Remaining Financial Leverage: 2 BTIRR Unleveraged BTIRR Leveraged Effective Tax BTIRR ATIRR Effective Tax

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