REMA™ Operating Questions & Troubleshooting - Recent Threads

Issues loggin into REMA

MooseHead — Wed, 22 Sep 2010 08:21:33 GMT

Hi everyone, I'm having trouble with the software so I'm hoping someone could help. I installed the REMA software that came with my book which only includes the Prop Analyzer. Well after I visited REMA online I saw a 1 Minute Analyzer Software that was a free trial so I figured I would download it. Well I downloaded it and could no long use the property analyzer so I uninstalled all of the REMA software on my computer and re-installed the software via my CD. I am now getting a screen when I attempt to open my REMA portfolio which states something along the lines of:

The license key XXXXX does not correspond to the correct product. Please enter a valid license key.

Anyone know how I can access the correct license key from the software CD?

Cheers,

Chris

Rema on my mac or on windows based laptop

stevestein — Sat, 06 Feb 2010 04:17:34 GMT

I can't decide if i should put Rema on my mac desktop or on my windows based laptop. I only use my lop top for doing JV presentations and such, otherwise I only use my mac.
My main thing is with regards to the rema reminders. Do I have to turn on Rema to get my reminders or can i set it up to send me an email reminder or is there some other way?
I do know how to get rema to work on my mac so that isn't the issue.

Thanks

Steve Stein

Using REMA on Two Computers

GarthChapman — Thu, 30 Apr 2009 09:24:44 GMT

As found in the Help File and User Guide in two sections - 'Getting Started' and 'Operating Tips And How To's'

SINGLE-USER VERSION:
You can install REMA on both of your computers. Be very careful about moving the data file between them. There is lots of potential for error inherent in that as it is a manual process. If you forget once and have made changes to the data file on both computers there is no way to synchronize the files – you will have to choose which to retain and then re-make the changes lost.

MULTI-USER VERSION:

LAPTOP AND DESKTOP:
Place the data file on your laptop and point REMA's data file location on the desktop to that laptop location. Do this by clicking on Toolkit, then View Database Location and follow the on screen instructions. This will mean that you always have access to the data file from either computer as long as your laptop is logged in to your home network. This means you are always working in the same file from wither computer.

The reason to place the data file on the laptop is that when you are out and about and working on REMA you will have the data file with you, and then when you return to your home or office you can also again access the data from the desktop computer.

MULTIPLE DESKTOPS WITHIN A NETWORK:

Place the data file on the PC that is normally always running - ie the one that acts as close to a server as you have on your network. Then point REMA on the other PC's to that network location. Do this by clicking on Toolkit, then View Database Location and follow the on screen instructions. This will mean that you always have access to the data file from either computer as long as your laptop is logged in to your home network. This means you are always working in the same file from all the PC's.

Starting a new file for 2009

GeoRawlins — Mon, 27 Apr 2009 01:07:18 GMT

I would like to start a new year (2009) of data for my houses to record income and expenses without loosing the previous year's data.
How do I do this?
Also, once I have this new year started, can I run a report that includes all the data entered over the history of the property to date (multi years)?
Thanks
Geo

Cash Flow Detail Report shows incorrect income/expenses

DFRYERS — Fri, 24 Apr 2009 08:08:53 GMT

I have a total income of $2825 from the property which I will be taking ownership of in May but the Cash Flow Detail Report shows an income of $3142 in Feb, Mar and April and then it jumps up to $11,842 for the remainder of the year.

I don't even own it during the first three months noted above.

Also it shows an advertising cost of $402 in April and $735 in May. It should be $226.18 in April and nothing in May.

Any ideas what may be happening??

Recent Update

Luke_Frerichs — Mon, 23 Mar 2009 06:30:00 GMT

Hi Greg

I just downloaded the recent update for REMA on the completion of the update it asks me if i want to "terminate REMA" now why would it say somthing like that.. Since im only installing an update.. It asks me to Terminate Rema then my only option to continue is to click "Finished" on the window if i click this my Vista un-installer alert for rema asks me if i would like to proceed.. Instead of clicking finished i closed the window and i checked if i recieved the recent update and all is good... Ive noticed with each update the same thing happens asking me if i want to terminate Rema... The potential to delete REMA by mistake is very high.. and the very word "Terminate" sends chills down my spine...

cheers
Luke

Transferring your data file from one PC to another

GarthChapman — Thu, 29 Jan 2009 12:30:32 GMT

1) Download REMA to your second PC (PC#2) then insert your License Key.

2) On PC#1 open REMA and click on Toolkit, then on View Database Location to determine where your data file is located. Then go to that folder containing the database and find the file called REMA.mdb.
The default location for the REMA.mdb file in Vista location is C:\ProgramData\Rema
The default location for the REMA.mdb file in XP is C:\Documents and Settings\All Users\Application Data\Rema

3) Copy the REMA.mdb file to a network drive folder location or to a portable storage device (ie a USB memory stick).

4) Now go back to PC#2 and locate your data file just as you did on PC#1 in step 2.

5) Then paste the REMA.mdb file you made a copy of from your PC#1 into the folder you located in step 4 on PC#2 (it will over-write the mdb file in PC#2).

Projected gross equity?

JordanRich — Thu, 29 Jan 2009 02:25:09 GMT

Hi there,

1. Can someone please explain what numbers are used to come up with the projected gross equity figure in the financial analysis
proforma section.

2. When calculating the CMHC fees is it best to add the cost to the purchase price of the property so it show's up as a cost on the mortgage?

Thanks,

JR.

one time expense for CMHC

JordanRich — Fri, 16 Jan 2009 02:33:06 GMT

Hi there,

When i imput the one time expense for CMHC and run the pro-forma it does not take of the expense after the first year? what am i doing wrong? also is there a way to add the CMHC fees directly to the mortgage? thanks.

new to rein and interested in rema

dwh442 — Thu, 15 Jan 2009 12:58:11 GMT

Hi I am a new member and currently I do not know a lot about the rema program. Can I purchase it outright and at what cost? If so can I utilize it on more than one of my computers ie home and laptop? If not what are my options and terms/conditions? If someone can help me with these and any other questions I might have it would be greatly appreciated. The software sounds like a great tool for managing all aspects of the business.

Dustin

Income derceases?

JeffSmith — Tue, 06 Jan 2009 12:37:47 GMT

I am trying to analyze a condo that has a monthly rental income higher than market rents. What is the procedure for entering the higher rent for the next 4-6 month period and than have a gradual % increase after the first 12 month period up to 5 yrs.?

Example:

Current Monthly Rent $850. and assumed for up to 4 months.
Drop in monthly rental to $800. after 4 mos. for the balance of the year.
Increase of 2% for next 12 months and 5% increases for the remainder up to 5 years.

Is this possible in REMA.

How to manually zip and email us your data file

GarthChapman — Wed, 24 Dec 2008 06:15:55 GMT

Instructions on how to manually zip and email us your data file.

1) Open REMA to your database, go to Toolkit, then click on View Database location. The bottom one is the path to your data file. Copy or record the path. Now exit/close REMA.

a. In Vista it should be in C:\Program Data folder
b. In XP it should be in C:\Documents and Settings\All Users\Application Data folder

2) Right-click on Start and left-click on Explore and then follow the path to find your data file.

3) Zip the file, which is named 'rema.mdb'. To zip a file right-click on it and left-click 'Send To' and then left-click 'Compressed (zipped ) Folder'. The file will be zipped and placed in the folder that the file is currently in and you will have the opportunity to name it. Give it a name that will ensure we will know whose data file it is.

4) Write the email with your questions and attach the zipped data file to the email and then send it to helpdesk@remacanada.ca

If you find you cannot see the folder that contains your data then that means your system has been set to 'hide' it from view. Often the Application Data folder (XP) & the Program Data folder (Vista) are hidden by default. You can change that setting as follows:

Here is how to make it visible in Vista:
Right click on Start
Left click on Explore
Left click on Organize
Left click on Folder and Search options
Left click on View
Left click on Show hidden files and folders
Uncheck the box beside Hide extensions for known file types
Left click on OK

Here is how to make it visible in XP:
Right click on Start
Left click on Explore
Left click on Tools
Left click on Folder options
Left click on View
Left click on Show hidden files and folders
Uncheck the box beside Hide extensions for known file types
Left click on OK

New Prime Rate of Interest - entering the new rate in REMA

GarthChapman — Sat, 13 Dec 2008 03:49:52 GMT

Now we're down to 3.5% - making happy investors of those with variable rate mortgages!

REMA uses the Prime Rate as set in the program to calculate variable rate mortgages.

To change the Prime Rate in REMA go to 'My Preferences' in REMA and make the entry for the new Prime Rate. Just click on the Prime Rate button on the first screen in Preferences (titled System Preferences) then select the date the rate changed and enter the new rate, then click 'Save Entry' and click 'next' until you are in the last Preferences screen. Click 'Save' on that last screen and you're done.

Historical Prime Rates

September 8, 2004 4.00%

October 19, 2004 4.25%

September 7, 2005 4.50%

October 18, 2005 4.75%

December 5, 2005 5.00%

January 24, 2006 5.25%

March 7, 2006 5.50%

April 25, 2006 5.75%

May 24, 2006 6.00%

July 11, 2007 6.25%

December 4, 2007 6.00%

January 22, 2008 5.75%

March 5, 2008 5.25%

April 23, 2008 4.75%

October 9, 2008 4.50%

October 14, 2008 4.35%

October 21, 2008 4.00%

December 10, 2008 3.50%

assumed revenue increase

JordanRich — Thu, 20 Nov 2008 02:42:45 GMT

Hi there, under the assumption section in the analyzer is the assumed revenue increase the same as saying the assumed rental increase? Just trying to figure out what drives the cash flow in the program. I know it's income minus all expenses but i'm a little confused. Thanks.

Yield

JordanRich — Mon, 17 Nov 2008 23:51:18 GMT

Hi There, what does the Yield and projected yield mean in the financial analysis page, thanks.

Want to set REMA to automatically start when you boot up your computer?

GarthChapman — Tue, 14 Oct 2008 04:42:38 GMT

Click on your 'Start' button, and find the folder called 'Startup'. In Vista, this 'Startup' folder will be under 'All Programs', and in XP the 'Startup' folder will be under 'Programs'.

Once you have found the 'Startup' folder, just right-click on it, and select the 'Open' option.

Next, a window will open. You then manually copy the REMA shortcut into this folder, and you're done.

To copy the REMA shortcut, you can find the REMA icon on your desktop, then RIGHT click the icon and while holding the RIGHT mouse button, drag it into the 'Startup' folder. Once you're in the 'Startup' folder, just let the mouse button go, and choose the 'Copy' option.

Prevailing Cap Rate Option

JoeRagona — Wed, 10 Sep 2008 10:22:57 GMT

Hi Garth,

I was jumping back and forth between the sample database and my own. In looking at the sample analyzer, in the assumptions and notes, there is a value for prevailing cap rate.

When I switch back to my database, this value is not there.

What am I missing? And is this a pertinent value that will help increase my cap rates?

Using VTB 2nd Mortgage

JoeRagona — Mon, 18 Aug 2008 11:51:17 GMT

I'm trying to utilize a 2nd mortgage to see how the number work.

I put this in the financing tab with a set rate and it works fine. Since this is really a VTB, and I'm only paying interest on it, I want to be able to add the payout amount on sell. Where would I put that mortgage amount? Expenses/One Time? Or on Future Value costs?

Great new error message repair tool now in REMA

GarthChapman — Mon, 18 Aug 2008 02:14:29 GMT

There are only a very few error messages that can occur in REMA now, and most if not all occur when your data file is not updated to accomodate new data fields in the current version of REMA. We have created a simple fix-it file now included in REMA that does the update to your data file - it is called 'fixmdb.exe'.

There are two ways to run the fixmdb file:

Open REMA, then go to Toolkit and click on 'Update Database to new Fields (fixmdb)'. You will then see a permission pop-up message that you should click 'Yes' to, and then the message 'Data Update Successful' will pop up to confirm that your data file was updated.

or:

Go to www.remacanada.ca then login and download the Update for your operating system, and then watch to see the pop-up message 'Data Update Successful' confirm that your data file was updated to complete the installation.

Un archiving a property

Ian — Thu, 31 Jul 2008 05:55:48 GMT

Hi Garth
I seemed to have archived a property and now want to un-archive it. The help section referred to a 'summary page' that has an 'un-archive' button. I am unable to locate it!
Thanks.

Ian

How to use the new JV Presentation Package Report in REMA

GarthChapman — Tue, 29 Jul 2008 00:36:57 GMT

This new report package is designed to allow you to present an analyzed property as an investment opportunity to JV Partner prospects, or to present the property to a Lender or Mortgage Broker to apply for financing.

Use this feature from within an Analyzed property (in the Analyzer section). The access button is located on the subject property's 'home' screen, titled 'Set Presentation Defaults'.

1) Click on the yellow 'Set Presentation Defaults' button. Then select the items you want to include in the Presentation Package Report. The reports (b. to f.) you will be selecting from are the reports on the subject property in the Analyzer.

a. Title Page (details to follow below on this new item)

b. Financial Analysis & Proforma Report

c. Cash Flow Summary

d. Goldmine Scorecard

e. Due Diligence Checklist

f. Cash Flow Detail Report

g. Suppress Address Line 1 (this is the street address of the property).

h. Suppress Address Line 2 (this is the City and Province of the property)

Note- Use the 'Suppress Address' feature when you want to hide elements of the property's address on the Reports. The suppression will be employed on the Title Page and on all the reports where the address would normally be displayed.

2) Title Page - When you select the Title Page to be included you will then also select its contents under the heading 'Title Page Parameters':

a. Path to Logo: If you want to include your logo set the path to its location on your computer here. We are still working on some sizing issues regarding the logo file. Play around with different graphics files until you find one that works and then get back to us with the size you had success with. We tried a .jpg file up to 550 x 210 with success.

b. Headline Text: Type what you want the Headline for this property to read

c. Title Page Text: Type your description of the property and anything else you want your reader to see on the investment opportunity you are offering.

d. Contacts Headline: Type the description for the contact(s) that will appear on the bottom of the Title Page. These will normally be used for your contact info so the reader can know how to reach you. For larger organizations' use we have supplied room for up to 3 contacts here.

e. Contacts: Enter your Contact info here. These can also be reached via 'Maintain Tables' under 'Presentation Contacts' (just below 'Vendors') so you can set them for each property by selecting them from a pull-down menu.

f. Now click 'OK' and move on to view the Title Page. You can edit it by going back to 'Title Page Parameters'.

Note- Some of these settings will later be moved to your 'Preferences' so you will have to set them only once.

3) Click on the yellow 'View Presentation Package' button.

a. This will open the, in sequence, the Title Page and then all the Reports you have selected to be included.

b. Each report opens in the report viewer, from which you can elect to print them or save them as a PDF file.

c. We suggest you save each report as a PDF file on your computer, named consistently for the property.

d. Once that is complete you can then print and assemble them into a Presentation Portfolio for presentation to your JV Partner prospects or Mortgage Broker or Lender. You can also email the reports from their saved locations.

Note- We intend to compile all the reports you selected to be contained in the Presentation Package into one PDF report so you will only have to save it once, and so it will be contained all together in one file for easier printing and/or emailing.

Rent Roll Report

ApexQI — Tue, 17 Jun 2008 04:39:07 GMT

Would it be possible to sort this report by the end date as this would help monitor the upcoming lease renewals. Or is there another report more suitable for this?

Thanks,

Mortgage Anniversary Report

ApexQI — Tue, 17 Jun 2008 04:36:40 GMT

Would it be possible to sort this report by maturity date as this would be helpful for monitoring upcoming refinances.

Thanks,

"Monthly Expenses" column under DCR Report.

maguiarr — Fri, 13 Jun 2008 01:28:24 GMT

Hi Garth/everybody.

I'm having a hard time trying to figure out where the "Monthly Expenses" value is coming from and I was wondering if somebody has ran into this situation as well. In the case of this property, the Rental Income is $1,595.00 and the value I'm getting under that column is $239.25. Coincidence or not, I noticed that value is 15% of the rental income for all of the properties I have.

Well, I believe that is it!

Thanks for whoever has the chance to look into this.

Marcelo Medeiros.

Lease Option Payment

JoeRagona — Mon, 02 Jun 2008 07:43:26 GMT

I am trying to analyze a lease-to-own and have split the income between a regular rental payment and the option credit.

Should I, in the expenses, put the same amount in because it will reflect that as a bonus in the proforma. It really goes back to the tenants once they buy the property so this will give us a better idea of the ROI.

Is that correct?