Once your real estate portfolio grows beyond a handful of assets, simple questions like "How much outstanding debt do you have?" and "What's your monthly rental income?" can get complicated. That's where the Schedule of Real Estate Owned (SREO) comes in. This report provides a high-level summary of your entire rental property portfolio in one place.
Where to Find the SREO Report
Your Schedule of Real Estate Owned is available to Pro users on the Reports page. You can read more about Stessa Pro here.
The report is available as a PDF, which you can view on-screen or download. You can also export the SREO as an Excel file for more flexibility.
How to Make Sure Your SREO Is Complete
The SREO pulls key information from many places in your Stessa account. Here's where to find and update each element.
Property Info
Percent Owned: On the Properties page, click the three-dot menu next to the portfolio, select Manage Collaborators, and update the ownership percentage. See How To Configure Less Than 100% Ownership.
Type: Carries over from property setup. To change it, open the property and click Edit on the Property Details card.
Number of Units: Open the property and scroll to the Units section to add or edit units.
Acquisition
Acquisition Date and Price: Open the property from your Properties page and click Edit on the Property Details card to update acquisition details.
Current Financing
If you have multiple loans on a single property, the Lender, Rate, and Maturity shown in the SREO are for the largest loan only, while the Loan Balance and LTV include all loans.
Lender, Rate, and Maturity: On your Properties page, click the relevant Loan Balance, then click the small edit icon on the loan card to update mortgage details.
Market Value: On your Properties page, click the figure under "Market Value" to edit it or change your valuation method.
Loan Balance: On your Properties page, click the relevant Loan Balance, then click the edit icon on the loan card. Connect your lender to avoid updating loan balances manually each month.
LTV: Your loan-to-value ratio is calculated automatically from your Market Value and Loan Balance.
Monthly Pro Forma
The pro forma can be edited on the property dashboard under the Monthly Expenses card.
Income: The sum of all scheduled monthly rents (and other income) for each property, based on your leases. To update it, go to the property’s Leases tab. The SREO figure isn’t affected by actual income on your Transactions page.
Mortgage: The sum of all scheduled monthly mortgage payments for each property. On the property dashboard, click the three-dot icon on the Monthly Expenses card and select Edit Mortgage to update the payment amount. The SREO figure isn’t affected by actual mortgage payments on your Transactions page.
Property Taxes: Pulls from the pro forma on your property dashboard. Click the three-dot icon on the Monthly Expenses card and select Add Property Taxes to update the amount. The SREO figure isn’t affected by actual tax payments on your Transactions page. If you see "Included" instead of a number, your monthly property tax is included in your monthly mortgage amount.
Once the Edit Property Taxes flyout is open, click into the field to edit.
Insurance: Pulls from the pro forma on your property dashboard. Click the three-dot icon on the Monthly Expenses card and select Edit Insurance to update the amount. The SREO figure isn’t affected by actual insurance payments on your Transactions page. If you see "Included" instead of a number, your monthly insurance is included in your monthly mortgage amount.
Other Expenses: Calculated automatically from the pro forma on your property dashboard. It includes all projected expenses other than property taxes, insurance, and mortgage payments. Edit pro forma amounts with the three-dot icon on the Monthly Expenses card. The SREO figure isn’t affected by actual expenses on your Transactions page.
Cash Flow: Calculated automatically by subtracting Mortgage, Property Taxes, Insurance, and Other Expenses from Income. It can’t be edited directly. Update the inputs above instead.
How to Use the SREO Report Effectively
The SREO is popular with lenders and potential equity partners because it gives an easy-to-understand snapshot of your entire holdings. The Stessa version is designed as a cheat sheet for filling out a lender's preferred SREO form, which can save you time when applying for a new acquisition loan or refinance. It’s also useful whenever you want to quickly bring someone up to speed on your portfolio.
By combining current occupancy and valuation data with projected cash flow, the SREO reveals a lot about your risk profile as a borrower or investment partner. Make sure it’s accurate and only shared with people you trust.
Need Help with Your SREO?
If something doesn't look right and you can’t fix it, open a support conversation using the blue circle in the lower-right corner. We'll take a look and get back to you.