My director asked me to look into Argus Enterprises and see if it would have merit for us to use. From what I have heard and what he has mentioned is that it isn't as malleable as an Excel model. I.e., harder to make deal-specific changes that could occur in our ever-changing world. I personally have heard it's not applicable to hotel, multi, and storage development deals which is mostly what we work on. Any input or advice is greatly appreciated.
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AE is an absolute must and industry standard for anyone modeling Office / Retail / Industrial for any other asset class it's not very useful.
Even for these asset classes AE is mostly used for doing Cash Flows with the export dropped into an excel model for the sake of malleability.
It's great for properties like retail and office that might have anywhere from 10-100 tenants, all with their own preset rent increases and NNN reconciliation structures that would be a nightmare in Excel to model out. But, with more fluid models like hospitality and multifamily the models don't make much sense to be in Argus since the rents change much more often and vacancies happen at much more infrequent times.
For some reason my shop models everything in AE, its not perfect but definitely works for Hotel & Multi. Haven't personally worked on an SS deal but I know they have been done and would have had to have been done in Argus. IMO it is a really helpful tool that as long as you can figure out the inner workings of can be applicable to most scenarios and is pretty dynamic. Probably not worth the cost though if you already have solid templates/are comfortable in Excel. Altus training is a joke and so unhelpful.
and ARGUS ain't cheap at all.
So what I’m understanding is that it’s probably not worth it to buy the course materials to get the cert? I was specifically looking into getting Argus Developer; not sure if the same sentiment applies.
Dude I just cringed so hard thinking about hotels in Argus wtf lol. What are y'all buying motel 6s or something?
I know its completely asinine... These are mostly flagged mid-upper scale limited service hotels too. I mean its not terrible Argus does have a Hotel functionality but I'm sure its not as detailed as you can be in Excel. TBH its the only way I have modeled hotels so I cant say for certain but it definitely works. If you have Argus take a look at the Hotel property type model and LMK what you think its missing, I am curious if were not looking at something we should.
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