What tools and softwares can be used to create financial models (Apart from Excel)?
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I have been using Excel to creating financial models. I know that Argus is used to create Real Estate Financial Models. What are the other tools used?
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Answer:
http://www.thinknum.com/cashflowmodel can be used to create financial models. You can update any of the assumptions and the model updates live using javascript. You can download the model into Excel if you like.
Gregory Ugwi at Quora Visit the source
Other answers
My company makes @RISK (http://www.palisade.com/risk/), which is an add-in to MS Excel that uses Monte Carlo simulation as a technique for conducting probabilistic analysis. You can download a trial license for free and tinker with the dozens of example models it comes with, or watch free tutorials. Unfortunately, you won't find any specific real estate centric examples, but you'll find general financial, cash flow, NPV, etc. example models there. The benefit of a probabilistic analysis is that virtually all possible scenarios are taken into account so you can see the full range of possible outcomes, how likely each outcome is to occur, as well as what the main drivers of the outcomes are. A standard 1-point (expected value) or 3-point (best case, worst case, most likely case) approach leaves you with only a few possibilities to examine. The drawback to this approach is it's easier to leave money on the table or to lose money.
Andrew Sich
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