Hello all,
Apologies if I missed this in a previous thread.
Does anyone out there know whether a decent OpenSource (free) alternative to Argus DCF/Enterprise exists? I've seen some cheaper alternatives, but they look/feel so... cheap. They also don't seem to have the versatility of Argus.
Any help would be appreciated.
Justin
There's a few youtube videos online but they aren't as fluid as the taught courses by the AE instructors.
Since the $1k for the official training is relatively steep, speak with your alma mater and AE about scheduling a course taught to students over a weekend. I ended up only spending $300 for a student price compared to the original amount but mainly did it because a few clients were asking us for AE models relative to the old DCF version and no one at my firm knew how to use it let alone downloaded it. Had a couple coworkers tag along for the same price and helped speed up the process of getting used to the interface.
Does it have to be a free version of Argus? You can do 99% of what you need from Argus in Excel
I could easily build my own models or get my own templates, but ARGUS is a bit less of a pain in the rear. I just find it surprising that a software as well used and renowned as ARGUS hasn't attracted the open source folks yet.
I was talking about this last night with a computer science student who wants to get into real estate.
The industry is so far lagging behind in terms of technology. CoStar, Argus, Direct Mail, Property Management software, accounting software, CRM etc. all is relatively inferior to the software other industries employ. It's because insider-information is where the $$$ is made. Those with access to the right people; tje right brokers, the right clients, the right lenders, the right officials, etc; get the best deals.
If I was a deep-pocketed landlord, developer, lender, or whatever I'd invest a lot more into RE tech.
Yeah. The user interface on AE is an improvement over DCF, but it's still achaic and lacks user friendliness. Also, Yardi, Nexus, Payscan - they're all AWFUL.
There is a VC fund investing in technology for real estate firms. It's called 5th wall. I know some big developer and investment managers have invested with them.
check out adventures in CRE website. I think he just posted a model that tries to eliminate the need and use for Argus. It needs to clean up and there are a few minor error - but it definitely lays the ground work out for you...
https://www.adventuresincre.com/library-real-estate-excel-models/
this is all around a great site...really helps to look at other models and build your own flavor for building your OWN models.
I know you techincally dont have to pay - but I'd encourage to share what you can. He spends a lot of time on this stuff. PS I have no affiliation to them and dont know them what so ever -- but I have used their equity waterfall models. PS, theyre not perfect, be on the look out for errors...As no model is perfect.
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