Comments on: Estimating Asset Values and Asset Depreciation http://www.consumerismcommentary.com/2006/11/30/estimating-asset-values-and-asset-depreciation/ A premiere personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Sat, 21 Nov 2009 16:42:00 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: sgt.red.blue.red http://www.consumerismcommentary.com/2006/11/30/estimating-asset-values-and-asset-depreciation/#comment-124383 sgt.red.blue.red Mon, 26 Nov 2007 01:39:46 +0000 http://www.consumerismcommentary.com/2006/11/30/estimating-asset-values-and-asset-depreciation/#comment-124383 Wacko, I do a balance sheet and income statement as a loan compliance item for a bank (conduit loan) every three months. Having done this for several years, I've shaved off a lot of time doing it. Takes an hour or two. I go to bank and brokerage websites at the end of each month and print a pdf of what the statements look like, and home mortgage and investment real estate loan(s). Income statements for properties I do each month. Income, I lowball. Understate real estate values. I state original purchase price basis for r/e to bank, and date purchased, that way I fully disclose. I don't include personal property other than car. Loan balances and interest paid and earned is a cinch. Depreciate income property using IRS guidelines for property type. You will find short cuts to make easy. Then, next time you want to go to banker for loan, you just pull out your most recent statements. Ask what they would lend based on your statement for income property, raw land, &c. Footnote statement for deferred taxes. Wacko,

I do a balance sheet and income statement as a loan compliance item for a bank (conduit loan) every three months. Having done this for several years, I’ve shaved off a lot of time doing it. Takes an hour or two. I go to bank and brokerage websites at the end of each month and print a pdf of what the statements look like, and home mortgage and investment real estate loan(s). Income statements for properties I do each month. Income, I lowball. Understate real estate values. I state original purchase price basis for r/e to bank, and date purchased, that way I fully disclose. I don’t include personal property other than car. Loan balances and interest paid and earned is a cinch. Depreciate income property using IRS guidelines for property type. You will find short cuts to make easy. Then, next time you want to go to banker for loan, you just pull out your most recent statements. Ask what they would lend based on your statement for income property, raw land, &c.

Footnote statement for deferred taxes.

]]> By: FIRE Finance http://www.consumerismcommentary.com/2006/11/30/estimating-asset-values-and-asset-depreciation/#comment-73164 FIRE Finance Sat, 09 Dec 2006 00:50:00 +0000 http://www.consumerismcommentary.com/2006/11/30/estimating-asset-values-and-asset-depreciation/#comment-73164 Money And Values Presents Carnival Of PF #77... Money and Values has hosted Carnival of Personal Finance #77 Carnival of Personal Finance #77. Actually quite a few interesting articles at this carnival opened our eyes wide. We feel that it would be beneficial if you went ahead and checked out ..... Money And Values Presents Carnival Of PF #77…

Money and Values has hosted

Carnival of Personal Finance #77
Carnival of Personal Finance #77. Actually quite a few interesting articles at this carnival opened our eyes wide. We feel that it would be beneficial if you went ahead and checked out …..

]]> By: Flexo http://www.consumerismcommentary.com/2006/11/30/estimating-asset-values-and-asset-depreciation/#comment-72213 Flexo Fri, 01 Dec 2006 18:54:36 +0000 http://www.consumerismcommentary.com/2006/11/30/estimating-asset-values-and-asset-depreciation/#comment-72213 It takes me about ten minutes to review the reports in Quicken to correct any errors, two minutes to export/import them into Excel, another two minutes to fix the formatting, and another minute or so to convert it to a graphic. It's the time spent almost every day entering activity into the software that is the most work. Writing the posts that coincide with my updates, which include my justifications for overspending and other excuses, take longer. It takes me about ten minutes to review the reports in Quicken to correct any errors, two minutes to export/import them into Excel, another two minutes to fix the formatting, and another minute or so to convert it to a graphic. It’s the time spent almost every day entering activity into the software that is the most work.

Writing the posts that coincide with my updates, which include my justifications for overspending and other excuses, take longer.

]]> By: Wacko http://www.consumerismcommentary.com/2006/11/30/estimating-asset-values-and-asset-depreciation/#comment-72194 Wacko Fri, 01 Dec 2006 12:50:42 +0000 http://www.consumerismcommentary.com/2006/11/30/estimating-asset-values-and-asset-depreciation/#comment-72194 Thanks, Flexo. Good idea about the car. I struggle with the home piece for the very reason you mention. Sites like Zillow may not accurately identify the current value of one's home, but you cannot rely on the periodic formal home estimates either. And unfortunately, you cannot necessarily use the same calculation method of comparing a house estimate from year 1 with year 3 because market prices fluctuate. Perhaps this should be done yearly. On another note, how long does it take you to create your income and net worth statements each month? I'm starting to do this, even aided with tools, and it seems it takes a while. Thanks again. Thanks, Flexo.

Good idea about the car.

I struggle with the home piece for the very reason you mention. Sites like Zillow may not accurately identify the current value of one’s home, but you cannot rely on the periodic formal home estimates either. And unfortunately, you cannot necessarily use the same calculation method of comparing a house estimate from year 1 with year 3 because market prices fluctuate. Perhaps this should be done yearly.

On another note, how long does it take you to create your income and net worth statements each month? I’m starting to do this, even aided with tools, and it seems it takes a while.

Thanks again.

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