The Colony Towers Financial STMTS
The Colony Towers Financial STMTS
The Colony Towers Financial STMTS
Source/ comment * Yr 1 Yr 2 Yr 3
Sales (a) 0 0 0 0 0 0 0 0 0
COS - - - - - - - -
Gross margin - - - - - - - -
Expenses:
Architecture Fee 1,000,000 - - - - - - -
Loan Doc Preparation Fee - - 50,000 - - - - -
Executive Salaries 16666 16666 16666 16666 16666 16666 16666 16666 16666
Total expenses $0.00 1,016,666 16,666 66,666 16,666 16,666 16,666 16,666 16,666
Net income (loss) $ (16,666.00) $ (1,016,666) $ (16,666) $(66,666) $ (16,666) $ (16,666) $ (16,666) $ (16,666) $ (16,666)
The Colony Towers
Monthly Income Statement
2010
0 0 0 $ -
- - - -
- - - -
- - - 1,000,000
- - - 50,000
16666 16666 16666 183,326
Yr 2
Q1 Q2 Q3 Q4 Total Yr 3 Yr 4 Yr 5
Residential Income 0 541800 541800 2709000 2709000 2709000
Commercial Income 0 6000000 6000000 6000000 6000000 6000000
Security Deposits 541800 541800 2031750 0 0
Late Charges Err:522 Err:522 Err:522 $ 1,800 1800 $ 7,200 $ 7,200 $ 7,200
Total Sales Err:522 Err:522 $ 7,085,400 $ 7,085,400 $10,747,950 $ 8,716,200 $ 8,716,200
Gross margin Err:522 Err:522 Err:522 7,085,400 7,085,400 10,747,950 8,716,200 8,716,200
Property Tax 93031 93031 372124 372124 372124
Insurance Err:522 Err:522 Err:522 16,363 16,363 65,453 65,453 65,453
Executive Salary 50,000 50,000 50,000 50,000 200000 200,000 200,000 200,000
Hourly Wages 38,200 38200 152,800 152,800 152,800
Payroll Taxes 5,869 5,869 23,474 23,474 23,474
Bldg Repair/Maint 3,000 3,000 12,000 12,000 12,000
Elevator Maint 2,000 2,000 2,000 2,000 2,000
Pool Maintenance 5,600 5,600 22,400 22,400 22,400
Snow Removal 13,000 13,000 25,000 25,000 25,000
Lawn Maintenance 18,750 18,750 75,000 75,000 75,000
Trash Removal - - - 3,000 3000 12,000 12,000 12,000
Utilities - - - 35,610 35610 142,440 142,440 142,440
Security/Fire 750 750 3,000 3,000 3,000
Office/Paper Supply 600 600 2,400 2,400 2,400
Telephone 2,000 2,000 8,000 8,000 8,000
Interest - - - 58,333 58333 233,244 233,152 233,064
Advertising 32,500 32,500 32,500 32,500 130000 130,000 130,000 130,000
Legal Audit & Professional 15,000 15,000 15,000 15,000 60,000 60,000 60,000 60,000
Debt Payment 175,635 175,635 702,540 702,540 702,540
Depreciation - - - 235,576 235576 942,307 942,307 942,307
The Colony Towers
Income Statement
2011-2013
Total expenses Err:522 Err:522 Err:522 711,786 1,097,317 3,186,182 3,186,090 3,186,002
Net income (loss) Err:522 Err:522 Err:522 $ 6,373,615 $5,988,083.50 $ 7,561,768 $ 5,530,110 $ 5,530,198
The Colony Towers
Monthly Cash Flows
Year 1
Total
Q1 Q2 Q3 Q4 Yr1 Yr 2 Yr 3
Net income (loss) $(1,233,326) $ (99,998) $ (49,998) $ (49,998) $ (1,433,320) 5,988,084 7,561,768
Cash from (used) in operations 253,340 (83,332) (33,332) (33,332) 103,344 7,690,492 11,883,287
Financing sources:
Invested capital 1,500,000 16,666 16,666 16,666 1,549,998 5,703,060
Bank loan 0 0 0 35,280,000 8,820,000
Financing uses:
Construction (1,486,666) (1,486,666) (35,280,000) (1,000,000)
Loan repayment - - - - - (175,635) (942,307)
Total source (use) of cash (d) 266,674 (66,666) (16,666) (16,666) 166,676 13,217,917 18,760,980
Beginning cash - 266,674 200,008 183,342 650,024 816,700 14,034,617
Ending cash $ 266,674 $ 200,008 $ 183,342 $ 166,676 $ 816,700 $ 14,034,617 $ 32,795,597
Multifamily Rent Schedule (asking new resident rents)
[The Colony Towers Gross Potential Income]
Composition
No. of Living Area of Units Unit Rent Total Monthly Annual
Line Unit Type ( sq ft ) #BR/#Bth Per. Mo. Monthly Rent Rent/Sq.Ft. Rent
1 100 600 1BR/1b $750 $75,000 $1.25 $900,000
2 200 900 2BR/2b $1,125 $225,000 $1.25 $2,700,000
3 0 0 0 $0 $0 $0.00 $0
4 0 0 0 $0 $0 $0.00 $0
5 0 0 0 $0 $0 $0.00 $0
6 0 0 0 $0 $0 $0.00 $0
7 $0
8 $0
9 $0
10 $0
11 $0
12 $0
13 $0
14 $0
15 $0
16 $0
17 $0
300 1500 $1,875 $300,000 $2.50 $3,600,000
Net Rentable Residential 205,000 sq ft
imated Gross Floor Area 235,750 sq ft
1. Company Financing consists of Land holder bringing land to project and the FHA Securing construction financing.
2. Breakeven analysis: