The Fact Book App is a software application that supports good asset management practices by providing a straightforward tool to track, store and learn from your real estate assets. Designed to give the business user control without heavy IT investment, the underlying software is built on a Quick Base® platform giving it exceptional flexibility, security and reliability.
The Fact Book App can help you quickly solve problems such as:
Different funders have different reporting timelines and requirements. How can they be consolidated across properties so we don’t miss a deadline?
Set-up customized workflows and alerts to remind you when documents are due for specific parties. Save the history along with a copy of the document for easy reference.
An Asset Manager needs a quick list of all loans by state and lender with an expiration date within the next 5 years along with all the Tax Ids.
Easily pull real time loan information by filtering and sorting based on your pre-defined categories.
A Developer is nearing closing on a property and all of the data and documents are spread across multiple people and files.
Use The Fact Book App to assemble all your information during pre-development for easy transition to your management team.
I have a ton of operating data from my Property Management system but no way to make sense of it.
Compare standardized metrics by grouping and filtering based on property characteristics that matter to you, such as property type, owner type, etc.
Solutions by Owner Type
Assemble all your pipeline and pre-development information in one place for easy transition to your management team.
Develop Board Dasboards
Create criteria for watchlist properties
Give access to your development partners to enter data and documents during pre-development and then seamlessly transition into operations
Use mailmerge functionality to send and track investor services information such as K1s, audits and operating reports
Create REO spreadsheets, insurance COPE spreadsheets and other routine time-heavy documents with easy templates
Public Housing Operators
Ease the transition to asset management functions by transitioning new or tax credit properties to The Fact Book to stay in HUD and Investor Compliance
Use The Fact Book to track any non-housing real estate assets such as Community Spaces, Day Care Centers, Commercial, or Common Areas.
Custom and Add-On Solutions
Need help managing resident services grants, commercial spaces, or other real estate and related assets? We can create add-on or custom solutions to build on The Fact Book initially or down the road.
Why is it better than my spreadsheets?
Spreadsheets and files are typically flat – you can learn information about a specific question but not about multiple questions across multiple characteristics. Also, when you update one spreadsheet, someone has to update related spreadsheets or versions get out of sync. With 3-dimensional data, the data is updated once and then is updated across all of your reports simultaneously.
What kind of information does The Fact Book App track?
Although the design and structure can be customized to fit specific needs, the standard application tracks the following attributes by property and portfolio:
- Buildings, Unit Types
- House Programs
- Contracts and Contacts
- Equity Investors and Investments
- Lenders and Mortgages
- Licenses, Registration and Insurance
- Property Taxes
- Operating Metrics
- Workflow Set-up and Email Alerts
What kind of owner is The Fact Book App intended for?
Any organization that develops, owns or manages real estate or related assets can benefit from The Fact Book: non-profit, public or private. The application is scalable to any size organization and can be used organization-wide or for a select group of properties. The fields cover both market rate and affordable housing of all types including low income housing tax credit properties. Fields are also customizable to allow you to track information most important to you.
Does it have reporting?
The Fact Book has reports designed to answer your questions and can be customized to fit your needs at any time without going through your software provider. Examples include:
- How many units do we have by subsidy and population type?
- What are the Tax Ids?
- How have property taxes changed over time?
- How many loans do we have with each lender?
- What reports are due to investors and when?
- When do my government contracts expire?
- When was the last appraisal done and what was the value?
- How many insurance carriers do we work with and how do the deductibles vary?
- Who are the auditors for each property and what is their contact information?
What doesn’t The Fact Book App do?
It doesn’t perform calculations such as waterfall, NOI or other formulas. However, it does store templates for these calculations and the accompanying documents or references.
Although The Fact Book App uses encryption technology to transmit data and individual user logins for security, it cannot be used to store social security numbers, bank account numbers, credit card information or employee information.
Where do I get all the information that The Fact Book App uses?
The information that goes into The Fact Book is usually found in spreadsheets, deal books, paper files, and other standalone sources of information. The Fact Book brings all this information together in a common source and format. All the information can be downloaded into Excel so it can be combined with other sources of operating or financial data.
How do I get all my data and documents into the system?
You can do this in whatever timeframe and method works for you – incrementally, piecemeal or all at once. You can decide to only enter pipeline properties and add existing properties at a later date. You can upload documents from all your closing binders, but put off pulling the data for the fields. Or, we can help you come up with a process to locate all the sources of this information plus guidance on tracking items you may not be tracking now. For more information, see Process and Pricing.
Does The Fact Book App replace my existing systems?
The Fact Book doesn’t replace your property management or accounting software because it doesn’t track transaction or unit level information. For example, it doesn’t track resident demographics for a point in time or the current debt coverage ratio, but it does track the required income levels at a property and the required debt coverage ratio for an individual loan.
Although it is not the source application for operating metrics, it does allow you to enter this information from other systems (manually or via uploaded spreadsheet) and then compare using all the other fields within Quick base. For example, you could upload vacancy information and then sort it by criteria you’ve set up in The Fact Book such as by state and program type.
How do new users get set-up?
Each organization dedicates one person as the Administrator for the application. This person manages creating and maintaining user ids, system customizations (for example, naming custom fields as available) and is the contact for system support or questions.
Do I need to install software?
The Fact Book App is built on a database platform developed and maintained by Quick Base®. Essentially, Quick Base® produces the raw material needed to build the house and then we build the house that you need.
Monthly access to the Quick Base® platform is purchased separately through Quick Base® and is governed by their Terms of Service. The service is internet accessible and cloud-based, so there is no software to install. Quick Base® also handles commercial grade back-ups, security and software upgrades.
More information about Quick Base® is available at www.quickbase.com.