propco llc model

I basically incorporate working capital and sources and uses into my property models to help with cash management projections by starting with the balance sheet as representing everything historical. If the balance sheet is 9/30, then I'm projecting cash flows starting 10/1 in Argus to get NOI and CapEx for speculative leases only. I track CapEx for executed leases and projected building capital on another worksheet that I can update with property managers and accounting each month for what was actually booked on the balance sheet, so I just have the remaining expenses.

The cash flow page I work with would just grab 1-2 lines from the Argus cash flow export, then I link in working capital into the model by grabbing items from balance sheet like, Cash, A/P, A/R, security deposits, prepaid asset accounts like tax escrows held by lender. For sources of cash for TI/LCs/building capital, I try to model in pre-funded escrow accounts held by lender that I could draw on, or reserve accounts the lender would let me draw on up to a max and increase loan balance.

I have a cumulative operating cash account that accumulates until disposition, or I could say make a distribution to increase IRR, or if below 2-3 months of operating expense reserve, project a capital contribution.