Fix Everything Button - Part One
Welcome to this video. In this video, I will cover the Fix Everything button in the ARGUS Multi Family Model. The Fix Everything button is one of the most powerful features in the ARGUS Multi Family model. I highly recommend clicking on this button before checking out the final underwriting results.
Pop Up Window
I click on the FIX EVERYTHING button and it takes some time for the window to pop up. This button does 3 things. First, fully recalculate the Argus Multi Family Model. Second, fix all circular references in the model. Third, check on the 6 critical errors in the model.
I can see the mouse turns into a circle, which is a waiting mode. This tells me there is a massive amount of calculations being done right now. In the meantime, I wouldn’t click elsewhere or touch the keyboard to interrupt the calculation. Every time the FIX EVERYTHING button is clicked; a full calculation is triggered automatically. This calculation is different than a regular calculation by hitting F9 in Excel. The full calculation checks every link and formula in Excel and redo the calculation in them. This is particularly important because there are thousands of rows in the ARGUS Multi Family model and a regular excel calculation will not do the trick. The circular references are also fixed automatically when the FIX EVERYTHING button is clicked. A circular reference is fixed by turning on and off a circular break. There are plenty of materials online covering this topic. I will leave a link for one of the resources below.
It is saying everything looks good as I have input all the assumptions correctly. Click Okay.
All Functions of the Button
Now I am going to show you all the things that are checked by this button. This snapshot shows all the critical errors. They are calculating future reserve deposits, check if the holding period assumption is empty, check if the close date assumption is empty, check if the total reserve cell is empty, check if the feasible period is longer than the holding period, and at last, check if the uses equal the sources.
These assumptions are essential for the underwriting, so I am going to take a look at how the FIX EVERYTHING button checks them and helps the user to fix them if they are incorrect. Let’s get into the future reserve deposits. This feature has been covered in the Uses and Sources video. Its purpose is to avoid negative cash flow so the change of sign of the cash flow will not mess up the IRR and Waterfall calculation.
Thanks for watching this video. I will cover the rest of the features of the FIX Everything button in the next video.