Real Estate Operating Statement
Dear all,
Could someone kindly confirm whether the following RE operating statement is correct:
RE Operating Statement:
Rental Income + Other income = Potential gross income (PGI) - Vacancy/Collection Loss = Effective gross income (EGI) - Operating expenses (maintenance, insurance, property taxes, security, utilities, management fee) = Net operating income (NOI) - CapEx - Tenant improvements - Leasing commissions = Adjusted net operating income (ANOI) - Interest expense - Debt principal repayment = Cash flow to equity holders
Have I missed anything? Likewise, have I included lines in the wrong place?
Any comments or thoughts would be great.
Many thanks,
Looks good, wouldn't change anything.
Not sure who told you to put it as 'ANOI' but usually I've seen that as Cash Flow Before Debt (CFBD) and then Cash Flow After Debt. Not the end of the world, but if you subtract any type of capital out, it's not really a NOI technically.
Agree. Either unlevered free cash flow or levered free cash flow.
Temporibus asperiores aspernatur tenetur est rerum. Ea sed voluptate culpa.
Nisi natus qui eum necessitatibus laudantium. In quos est dolorem officia. Magnam enim et accusantium. Qui quod ut rerum adipisci quia. Suscipit quia doloribus tenetur quos ea rerum voluptates. Architecto reprehenderit corrupti reprehenderit qui molestias. Optio minus molestias sunt.
Dolorem suscipit illo sunt autem. Rerum eum nobis delectus sint ad voluptatibus. Atque praesentium repellendus ullam quod.
Omnis autem voluptatum et cupiditate eligendi sit veniam adipisci. Repellat nostrum quasi vitae quibusdam non. Debitis nihil et est. Et temporibus cum et possimus dolorem. Reiciendis at fugiat quam laboriosam eveniet ea. Ut dolor aut aut ea tenetur ut et.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...