Fix Everything Button - Part Two
Transcript
Welcome to this video. In this video, I will cover the rest of the features of the Fix Everything button in the ARGUS Multi Family Model. Let’s get into it.
Checking Holding Period
The button will check if the holding period cell is empty. Let’s delete the 10-year holding period and click on the button. The error message says that the holding period cell is empty. Click on the Input Holding Period button. I will type 10. Click Ok. Now the error message goes away. Click Okay to close the window.
Checking Close Date
Let’s delete the close date. Click on the FIX EVERYTHING button. The error message says that the close date cell is empty. Click on Input Close Date. Type October 1st, 2023. Click Ok. Now the error message goes away. Click Okay to close the window.
Checking Total Reserve
Let’s scroll down to the total reserve cell. This cell is linked to the Capital Expenditure Reserve in the uses and sources section, I am going to delete it. Click on the FIX EVERYTHING button. The error message says that the total reserve cell is empty. Click the Go to Total Reserve Cell button. It takes me to the empty total reserve cell. If I do not have the reserve items in the sources and uses section, I would type in 0 as a placeholder. In this case, I will link it to the Capital Expenditure Reserve. Click the FIX EVERYTHING button again. Everything looks good now.
Maximum Holding Period
Let’s extend the holding period to 20 years and click the input expense button for insurance. I will delete the expenses from 11 to 20 years. And save. Let’s go to the annual cash flow summary tab. Now only the first 10 years’ insurance expenses are left in the model. This creates a conflict. I want to model a 20-year holding period but the cash flow is projected out only for 10 years. Click on the FIX EVERYTHING button. The error message says that the feasible period is shorter than the holding period. The easy way to fix this is to click on the Correct the Holding Period button to automatically shorten the holding period or go back to input 20 years’ insurance expense. I am going to click the button this time. Close the window. I can see the holding period is automatically shortened to 10 years, which is the feasible period that the current cash flow can support.
Let’s go through the last type of error. The FIX EVERYTHING button checks if the uses equal the sources in the ARGUS Multi-Family model. Let’s add 100 dollars to the HC Capital. Then click the FIX EVERYTHING button. The error message is saying that the total uses and the total sources do not match. Click the Go to Uses and Sources button. It will lead you to the Uses and Sources tab, and let’s check where is the difference, here, at the beginning of the holding period. And we can find that it comes from cell D27 in the Input tab, so let’s go back to Input Tab, I will delete the 100 dollars to fix this problem. I finished going through all the features of FIX EVERYTHING button.
Thanks for watching this video. I will see you in the next one.