Argus training
I recently did an Argus AE training through school. Some topics seem pretty granular (E.g., expense recovery). For folks who work in acquisition or Asset Management, can you share your experiences of using Argus at work? What are the most frequent functionalities you use? And to what extent is Argus used at work?
I'm looking to break into the industry and plan to take the AE exam but want to make sure I focus on the most useful and important areas of Argus.
Also interested
I currently work on the investment sales side at a large brokerage shop, and we use both DCF and AE everyday (Right now I'm the one teaching people how to use AE, because it is what I had learned, everyday. I would say the most popular things done in argus, beside entering the rent roll in, expenses, and MLAS, are: using argus to make sure everyone has the right base year recovery stop, because in gross (FSG or modfied), that needs to be accounted for appropriately (direct hit to exp. reim. revenue), leasing up space (now done in the rent roll for first generation leasing, second generation is linked an MLA, because you want the most flexibility went leasing up, usually with current leases signed or LOI terms. Sub lines and % of other are also fairly common, especially for things such as utilities, where tenant may pay electric direct, and some do sub-metered. I'm sure there are more, I just can't think of them at the moment. Hope this helps.
I got certified in AE and I use it for Asset Management everyday. I build a model from scratch if it is a new asset that we are acquiring or developing, in this case I use just about every function. It all depends on the asset class if you will be using very granular recovery structures.
Day to day I use it for DCF reports, quarterly values, and projected financials metrics. In this case I am just rolling the analysis dates forward and maintaining any expense line item and also updating rent rolls.
I use to work in acquisitions. There we would only use DCF models that we got from brokers and evaluate them. I would go through every input to make sure they were copacetic and not trying inflate the value (ie. inflating monthly at a smaller amount). Also I would make adjustments to match our own assumptions and then use the new cash flows in an excel model. Asset management uses Argus Enterprise a lot more.
Developers and investment sales still use DCF although Argus is trying to make the file transfer of AE similar to DCF to facilitate a complete switch over across the industry.
The most useful thing you can learn with Argus is how to build a property from scratch with out errors which I think the exam does a good job of teaching.
How is the AM life treating you?
It's great, living the dream. If you have any questions about it, I would be happy to answer them.
Hey man, thanks! I'll message you.
Dev firm that I'm working at this summer is making the switch from DCF to AE. I only have trained in AE, but I've heard that the two are very similar (i.e. if you can use one of them there's not much of a learning curve w/ the other).
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