Software recommendation /
- Thread starter Success
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Scenario Analysis of what ?
Sounds like the type of thing Terry was discussing. A property financial plan but most people wont pay a cent for it.
As a result he no longer offers the service. Dont know of any software that could handle the multitude of scenarios required. e.g. positively geared, negatively geared, trust vs individual vs super, projected capital gains and tax effects of the various structures, etc, etc, etc
Sounds like the type of thing Terry was discussing. A property financial plan but most people wont pay a cent for it.
As a result he no longer offers the service. Dont know of any software that could handle the multitude of scenarios required. e.g. positively geared, negatively geared, trust vs individual vs super, projected capital gains and tax effects of the various structures, etc, etc, etc
I always recommend cougar or Dyna. Not sure if it does payg
Exactly !!!
There are so many variables to change the outcomes of an IP. Interest rates, Bigger deposit, more rent, weeks empty, council rates, strata fees, more deductions for newer homes, newer appliances, newer fixtures, taxable income, your tax bracket, etc...
Each and every house, and each an every investors taxable income is different.
Hence why there must be some software to help pull all of this together. And no ... the answer is not a financial planner ...
forty two.
You might be looking for something like this:
http://www.plansoft.com.au/Products/FinancialPlanner/FinancialPlanner.aspx
which I have never used, but looks interesting?
I have the software, I can build any number of scenarios for you. I have been doing this for the last 9+ years. I produced the property report for one of the mortgage brokers on here.
The software that I use is available to anyone who wishes to subscribe to the service, however the cost is prohibitive for individuals.
Although I haven't seen it, maybe the Somers' property program would be suitable for you? There is also a guy from Perth who has developed a software package designed for financial advisers that focuses specifically on property investment scenarios, although I can't remember what it's called. Googling for it should get you some results.
Edit: here it is: http://www.bezdex.com/
The software that I use is available to anyone who wishes to subscribe to the service, however the cost is prohibitive for individuals.
Although I haven't seen it, maybe the Somers' property program would be suitable for you? There is also a guy from Perth who has developed a software package designed for financial advisers that focuses specifically on property investment scenarios, although I can't remember what it's called. Googling for it should get you some results.
Edit: here it is: http://www.bezdex.com/
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Wow - this may be the answer ! Thank you!!!
Software does not look like it factors your income outside rental income.
somersoft!
Not a promising startJust tried to download/install home edition and it failed with error message
most of these programs won't cover complex scenarios such as
1. scenario one property held 50% in one owner's name amd 50% in partner's name with income for 20 years and standard growth rate. nice and easy analysis. partner earning same income.
then compare it to the partner giving up work in 5 years time and affects on negative gearing benefits overall. a whatif property is sold during that time
compare to if partner not working for 5 years and property sold after 7 years when she is back working the same job.
does the scenario analysis include an asset which has moved into super. does the scenario analysis should a further scenario of buying in a UT and allowing it to move to super vs not moving to super. sub scenarios of both those scenarios where contributions are made to super vs not made to super and in-specie contribution of units.
about 5 to 6 sub scenarios in all of these. the plan wont cover everything
1. scenario one property held 50% in one owner's name amd 50% in partner's name with income for 20 years and standard growth rate. nice and easy analysis. partner earning same income.
then compare it to the partner giving up work in 5 years time and affects on negative gearing benefits overall. a whatif property is sold during that time
compare to if partner not working for 5 years and property sold after 7 years when she is back working the same job.
does the scenario analysis include an asset which has moved into super. does the scenario analysis should a further scenario of buying in a UT and allowing it to move to super vs not moving to super. sub scenarios of both those scenarios where contributions are made to super vs not made to super and in-specie contribution of units.
about 5 to 6 sub scenarios in all of these. the plan wont cover everything
This website has a lot of excel spreadsheets relevant to property
http://www.investmentpropertycalculator.com.au/calculators.html
http://www.investmentpropertycalculator.com.au/calculators.html
Xplan and COIN.
Though its not exactly for end users.
Best to see a financial planner who can model out these scenarios for you.
Last time i did some financial modelling for an adviser i charged them close to $1k. Their fee would have then been added on top of that for the end client.
I am able to do (and have done) scenarios like this plenty of times over the years.
This sort of stuff is trickier, but doable.
P.S. I am not a financial planner.
Cheers Terry ... this site I think has the one I need !
Well its not like they can go see a paraplanner that provides outsourced paraplanning services
While there are very few who can, I'm sure there's at least 2 on this forum. Even if they don't have time model out the scenario themselves, they will outsource it to someone who can.
(This is much easier to say than Go find a financial planner who listen and note down your situation, outsource the financial plan writing and modelling to a 3rd party, then present the plan as their own)
