Cash flow deserves more attention than market momentum

A property can attract attention while still producing a weak operating outcome. An investment comparison should make the cash assumptions visible instead of relying on a favourable market narrative.

Build the operating account

List expected income and recurring expenditure separately. Include the costs relevant to the actual property and make clear which figures are documented, estimated or conditional. Distinguish gross rent from the amount left after expenses.

Test less favourable conditions

Consider lower rent, a vacant period, repairs and the time needed to sell. Avoid a calculation that works only under every optimistic assumption at once. The point of a scenario is to reveal a dependency, not to predict a precise future outcome.