Jang_HW5

Jang_HW5 - 880 1,594 1,130 207 (1.5% per month) Total...

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CE49700- 006/CEM49700-003 Homework #5 03/12/10 Joseph Jang 1/2 (1) Month 1 2 3 4 5 6 Direct Cost 10,000 45,000 55,000 15,000 Indirect Cost 1,000 2,500 3,000 1,200 Total Cost 11,000 47,500 58,000 16,200 Total Billed (8% markup) 11,880 51,300 62,640 17,496 Retainage witheld (5%) 594 2,565 0 0 *Only during first half of project Payment received - - 11,286 - 48,735 - 62,640 20,655 Total cost to date 11,000 58,500 116,500 132,700 132,700 132,700 Total amount billed to date 11,880 63,180 125,820 143,316 143,316 143,316 Total paid to date 0 0 11,286 60,021 122,661 143,316 Overdraft at end of month 11,000 58,665 106,259 75,318 13,808 -6,640 Interest on overdraft balance 165
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Unformatted text preview: 880 1,594 1,130 207 (1.5% per month) Total Amount Financed 11,165 59,545 107,853 76,448 14,015 Total Profit = $6,640 CE49700-006/CEM49700-003 Homework #5 03/12/10 Joseph Jang 2/2 (2) Unit = 250 unit Rent = each 1500 per month Loan value = 0.75 Vacancy factor = 10% Expenses = 20% of income Long term debt = 8.5% Cap rate = 9.25% Monthly Income = 250 unit * 1500 per month (each unit) = $375,000 Annual Total = 12 month * $375,000 = $4,500,000 Annual Total with Vacancy Factor = $4,500,000 ($4,500,000 * 10%) = $4,050,000 Annual Total with expenses = $4,050,000 ($4,050,000 * 20%) = $3,240,000 Net income before debt service = ($3,240,000 / 0.0925) = $35,027,027.03 Requested loan value = $35,027,027.03 * 0.75 = $26,270,270.27 Long term debt service = 0.085 * $26,270,270.27 = $2,232,972.973 Loan per unit = $26,270,270.27/ 250 = $105,801.0811...
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Jang_HW5 - 880 1,594 1,130 207 (1.5% per month) Total...

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