Getting Started With Valuate by REFM

Getting Started With Valuate

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Click any link below to be taken to that sectionREFM Valuate (Beta release) Quick Start Instructions

Welcome to Valuate by REFM!

Definitions

Logging In

Using the Dashboard

Creating a New Property

Loading Monthly Property-Level Cash Flows Into Valuate (Cash Flows tab)

Changing Purchase and Sale Details

Changing the Equity Structure (Sources of Funds tab)

Setting the Waterfall Structure (Sources of Funds tab)

Debt Sizing / Acquisition Loan Sizing

Creating a New Scenario from an Existing Property File

Changing Your Password

Filing a Support Request

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Welcome to Valuate by REFM!

When you first log in, you will be dropped automatically into a demonstration file. Don’t be overwhelmed! This document will help orient you. Read on!

The Valuate interface Dashboard page

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Definitions

● Page or Tab - each of the main screens of Valuate, accessed via the page navigation bar:

○ Dashboard/Home (represented by the house icon)○ Cash Flows○ Purchase/Sale○ Sources of Funds, and Reports.

● Box - any of the rectangular boxed components of a Page, such as the Sale box● Input field - any field into which a bold blue input is made, whether numeric or text.

Input fields also include clickable “radio buttons” (even though not blue) and drop-downs ● Header bar - the dark gray bar across the page top where the following elements sit:

○ page navigation bar, ○ property information, including file name○ Share, File and Help buttons, and account management

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Logging In

First time users need to create an account at https://beta.valuate-it.com by clicking create an account to create your user account. On your first login you will have immediate access to a new “Demo transaction” with some standard settings that will allow you to explore the applications’ functionalities.

Returning users will go to https://beta.valuate-it.com and enter their Username and Password and then click Sign In

If you have already created an account and have forgotten your password, click the “?” button next to the password box to be sent a new password.

Using the Dashboard - Quick Video Tutorial on changing inputs - Quick Video Tutorial on changing pages

The dashboard brings together key inputs and calculations, allowing you to quickly explore various settings for the property you are analyzing.

Where values are presented in blue you can change them by clicking, entering a new value, then pressing “enter” or clicking an area of the page outside the input you have changed. In the Unlevered Summary grid, you can change the Cap Rate blue values by double clicking on them.

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Creating a New Property - Quick Video Tutorial

Creating a new property is simple:

1. Click the File menu item at the top of the application2. Choose New Property from the menu that drops down3. Enter the details for the new property you are analyzing4. Click Save

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Loading Monthly Property-Level Cash Flows Into Valuate (Cash Flows tab) - Quick Video Tutorial

The first thing you will want to do after creating a new property is to paste your property’s MONTHLY cash flows into Valuate (the current limit is 132 months of data, which equals 11 years). You may do so as follows:

1. Select the Cash Flows tab from the Header bar2. Select all cells from your unlevered property-level cash flow projection (i.e., the

projection that ends at Cash Flow Before Debt Service and Taxes) and copy to your clipboard

a. If you are copying cash flows directly from ARGUS, select the entire screen area as you have always done and copy to your clipboard with Ctrl+C

b. If you are copying cash flows from Excel, on the cash flow tab, do Ctrl+A* to select All, then do Ctrl+C

3. Switch back to Valuate, click in the Paste Unlevered Cash Flow Projections box and Ctrl+V to paste the values into the box

4. Press the Process Cash Flow button to upload your cash flows to the system

* NOTE: If you have items other than the operating cash flow projection on your Excel cash flow tab (such as the ARGUS logo image and a property address header), please just highlight the rows starting with the top row of “Month 1 Month 2 etc” and then do Ctrl+C

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Changing Purchase and Sale Details

Once you’ve uploaded the cash flow details, you will likely want to go to the Purchase/Sale tab to change details such as purchase price and closing costs, sale cap rate, selling costs, etc.

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Changing the Equity Structure (Sources of Funds tab) - Quick Video Tutorial

1. Choose One, Two or Three players; for each player, specify a name2. Use the slider bar to specify the equity percentage for each player

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Setting the Waterfall Structure (Sources of Funds tab) - Quick Video Tutorial

To set the waterfall structure(s), first specify the presence (or not) of a pro-rata Preferred return between the subject partners, and then select the Residual Cash Flow Split type (Single Residual Split or Multi-Tier Waterfall).

Next define the IRR thresholds and promote amounts.

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Debt Sizing / Acquisition Loan Sizing

To size the senior acquisition loan, use the Debt box on the Sources of Funds page. Size by either Loan To Cost, or Debt Service Coverage ratio. If your loan amount exceeds the Maximum Loan Proceeds, an alert will appear.

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Creating a New Scenario from an Existing Property File - Quick Video Tutorial

A new scenario can be created using an existing property file. For example, if you have created a “base case” scenario, you can create a separate file that shows an “upside” scenario for that transaction. To create a new scenario:

1. From the header bar, select File > Save As New > Scenario2. Provide a new File Name name (for the current example, you could label it “upside”).

NOTE: once copied, a scenario is a separate file. Any changes to property information such as property name or address will not be reflected in other scenarios for the same property, at present.

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Changing Your Password

1. Click “Welcome, Your Name” in the header bar2. Choose “Profile”3. Update your account as desired

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Filing a Support Request

You can call Matt or Bruce at (703) 243-2896 or write in your request/feedback to us at [email protected]

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