PIA - Property Investment Analysis Software. Do you use it?

Discussion in 'Loans & Mortgage Brokers' started by Lisa Melbourne, 20th Dec, 2017.

Join Australia's most dynamic and respected property investment community
  1. Lisa Melbourne

    Lisa Melbourne Member

    Joined:
    20th Dec, 2017
    Posts:
    5
    Location:
    Melbourne
    Are you proficient using PIA software? I recently purchased it for personal use and was wondering whether I could connect with a PIA expert to see the software in action (tailored to my personal circumstances). I've started using it (after going through all the guides) I'm now wanting to take my understanding to the next level and make sure I'm using it correctly. Recommendations and referrals would be most appreciated. Thank you :)
     
  2. kierank

    kierank Well-Known Member

    Joined:
    20th Jan, 2016
    Posts:
    8,414
    Location:
    Gold Coast
    What do you want to do?
     
  3. Lisa Melbourne

    Lisa Melbourne Member

    Joined:
    20th Dec, 2017
    Posts:
    5
    Location:
    Melbourne
    Thanks for the response Kierank, I've set up my personal details and basic financials to do with the house I just bought. I'd like to understand the finance module a bit better so I can use it to forecast and plan for when I can make the next investment. If I could connect with someone who would be able to guide me through how to get the most out of the software for my personal circumstances I'd be most grateful and willing to pay for their time of course.
     
  4. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

    Joined:
    18th Jun, 2015
    Posts:
    8,130
    Location:
    03 9877 3000
    PIA isn't going to really tell you when you can afford another property. It's definitely not going to tell you anything about your ability to borrow money. It's kind of accounting software, not credit related.

    I used to play around with it to figure out my cash flow in the grand scheme of things, but for my circumstances it never really told me much about my day to day cash flow or was able to model when a property would become profitable (probably because you can't predict accurately what the market will do more than a few months in advance).

    Here's how you can figure out when you're in a position to purchase another property:
    1. You've got enough deposit or equity that can be converted to a deposit.
    2. You've got sufficient borrowing capacity to borrow the rest.
    3. Most importantly: You understand your day to day budget and are comfortable that you can afford another property.

    A mortgage broker can give you information about 1 & 2. Number 3 is up to you.
     
    enoxaparin and Invest_noob like this.
  5. Lisa Melbourne

    Lisa Melbourne Member

    Joined:
    20th Dec, 2017
    Posts:
    5
    Location:
    Melbourne
    Thanks Peter, I hear what you're saying but I'd still like to connect with someone who understands how to use the software. Its really powerful and would provide fantastic insights if I could run different scenarios for future investments
     
  6. kierank

    kierank Well-Known Member

    Joined:
    20th Jan, 2016
    Posts:
    8,414
    Location:
    Gold Coast
    I wouldn’t buy an IP without first setting it up in PIA.

    I particularly like the Investment Portfolio feature and I would run multiple scenarios before going out to purchase.

    Even before starting the property search, say, I wanted to know the impact of buying a $500K IP, a $600K IP and a $700K IP on my current portfolio, then I would create 3 x dummy IPs. Then, I would do some preliminary risk analysis such as increasing interest rate on one or more loans, increasing vacancy on one or more IPs, ... and reviewing the impact on the portfolio. This would lead me to a budget for the next IP that I felt comfortable with.

    Then I would start the procurement journey and present PIA reports to the banks as part of my business case for the loan.
     
    Big Will likes this.
  7. Lindsay_W

    Lindsay_W Well-Known Member

    Joined:
    1st Jul, 2015
    Posts:
    4,982
    Location:
    QLD/Australia Wide
    Hi Lisa,
    The user guide helps explain how to use the software pretty well, is there something you're wanting to do that isn't in the guide or are you wanting to know something specific, ie. what figures to use and where?
     
  8. Big Will

    Big Will Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,517
    Location:
    Melbourne, Australia
    Hi Lisa Melbourne,

    I am by no means an expert on the software but I do put my properties into PIA.

    I am leaving for Brisbane tomorrow so next year if you don't feel confident and have spare money for a coffee we could catch up.

    I live in Greensborough if that helps.
     
    Lindsay_W likes this.
  9. Lisa Melbourne

    Lisa Melbourne Member

    Joined:
    20th Dec, 2017
    Posts:
    5
    Location:
    Melbourne
    Hi Big Will,
    Just this morning I received a direct message in response to this thread which prompted me to log into this forum. I had no idea that you responded in 2017 and sincerely apologise for the late response! I would happily shout you a coffee to go over how the software works …if you’re still interested of course??


    Lisa