开办我自己的商店的数字
I've been thinking what would be required to start my own shop. I've got a few years experience and looking to eventually start my own shop.
Capital raised externally: $10m
LVR：65％
Projected MOIC over a 3 year period: 30%
总资本金额：2850万美元
开发利润：860万美元
携带/促进费：170万美元（Dev利润的20％费用）
Development fee: $1.4m over 3 years (5% fee on the total value $28.5m)
Development fee annually: $475k
In addition I will add $2m of my own equity that gets me to $5.7m total value with the same LVR (65%). This gets me to a $2m profit @ 35% MOIC (5% extra since I'm not charging myself a fee).
The annualized income is a bit over $1m from the $10m raised and the $2m I contributed gets me to $1.7m.
Interested to hear what you have to say about my numbers/assumptions.
注释 （13)
Isn't MOIC an equity multiple?
I thought capital is overall capital and not equity. For example cost of capital includes both debt & equity.
那不是我的讲话……MOIC是投资股权的多元化。不应该是30％。
Yeah you're right MOIC would be 1.86x and the return on costs would be 30%
Think you still have some learning to do before starting your own shop
- learn more
- |建议的资源
learn More300+ video lessons across 6 modeling courses taught by elite practitioners at the top investment banks and private equity funds -- Excel Modeling -- Financial Statement Modeling -- M&A Modeling -- LBO Modeling -- DCF and Valuation Modeling -- ALL INCLUDED + 2 Huge Bonuses.
learn more它应该只像您布局的场景一样容易。
不幸的是，这一切都没有任何意义，因为您真正需要问的是1）您能提高权益，而不是2）您可以投资并获得您在这里注意到的回报。如果您可以做到这一点 - 确保开设自己的商店。在这里，任何人都没有什么可评论的，因为您所做的只是列出的理论回报和费用 - 我们应该说些什么？
正如其他人所说的那样，如果您坐在这里考虑您可以假设锁定的交易可以实现的假设回报，并且在假设您可以假设按时交付这些项目的同时。也许只是坚持考虑一下赢得彩票，要做什么。
就价值而言，您的数字不好。根本。您如何支付前开发费用？何时提高股权（/何时does thatIRRclock start)? How many deals do you intend on doing; big difference between one $10mm equity deal and two $5mm equity deals. Promote isn't 20% of profit, it's 20% over some hurdle, so your math is straight up wrong on that one. Development fee isn't always paid chronologically, but rather is usually tied to hitting construction milestones, so a lot of your fee income is probably back-ended. Also, a 30%IRR(which is what I assume you meant to say) is pretty aggressive; you don't有巨大的杠杆作用而且这不再像人们已经建造了8个帽子了，而且有很多竞争。您打算如何保证建筑贷款？
What aboutall the back office？如果只是您，那么其中一些就没关系，但是为什么有人给youmoney to do this when there are dozens of better qualified people with more resources and a better track record?
如果您（或其他任何人）正在考虑开设自己的商店，而您要问的第一个问题是“我对利润的计算听起来对吗？”而不是与风险和暴露有关的事情，您还没有准备好自己这样做。房地产与风险管理有关，仅此而已。如果您想做白日梦，请再次……彩票。或开始创办一家技术公司，该公司做一些愚蠢和“破坏性的”，然后一堆贪婪VCfolks out of their money
Thank you for these arbitrary numbers, Mr. Analyst 1 in RE - Comm from WallStreetOasis.com.
怪异的弹性，分析师1
商业房地产开发商
Yikes
Ex earum cupiditate aut nisi error et. Nisi dicta aut eaque exercitationem. Ut in quo eveniet asperiores. Et accusamus rerum qui et est corrupti.
Odit et similique esse magni quae. Quisquam ullam modi consequuntur reiciendis maiores voluptas dicta unde. Fugiat et in minima consequuntur. Et et mollitia numquam quia corporis. Dolorem qui voluptas iure dolor ex.
Vel libero dolor non quia aut consequatur. Eligendi velit rerum adipisci laborum rem alias sunt. Qui voluptatem enim inventore fugit at. Dicta voluptates natus praesentium laboriosam quae explicabo. Occaecati quae modi dolor nemo. Corrupti laudantium iure delectus natus.
Rem vero consectetur distinctio repellendus vel ullam et. Ut ipsa consequatur maxime fuga. Rerum dignissimos dignissimos nemo ratione sit voluptatem. Soluta nemo voluptatem similique quo.
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)
或者Want toUnlock通过签署您的社交帐户？