Multifamily underwriting models Perfect for new investors seeking real estate success. Dec 8, 2024 · Unlock the secrets to underwriting multifamily properties like a pro. Sep 16, 2024 · Description Value Add Multifamily Acquisition Financial Model/ Proforma ABOUT THIS MODEL This unlocked financial model is a work of art that has the following functionalitues: - Fully dynamic with inputs specified as blue cells. A Preview - This blog post will detail the tool for viewers who need a multifamily May 24, 2025 · The multifamily real estate sector continues to attract investors due to its stability, resilience, and long-term growth potential. If you ever utilize our version to pitch deals to partners or investors, it is paramount that you define the specifics. The direct capitalization approach is the most common method used to value a multifamily property. KRI Multifamily Underwriting Course Learn How To Confidently Invest In Multifamily Real Estate By Mastering The Underwriting Process! Underwrite Like a A Pro, Buy Now > If you want to be a successful real estate investor, then you must learn how to underwrite deals. AI-powered data extraction tool saves hours on multifamily property analysis and due diligence. Per Apartment List In this episode, Wayne talks to Rob Beardsley. Simple Multifamily Underwriting Test (11 video lessons) In this section, we use 11 video lessons to demonstrate how to solve a modeling test and underwrite a potential acquisition of a multifamily property using a real-life OM, a pro forma model, and historical financials. - Allows for Senior Loan, Bridge Financing, Mezz/Pref Equity Financing including I/O period and an option to choose between fixed or variable interest rate. Our multifamily acquisition model builder will customize a financial model that is personalized to fit your needs. Mar 11, 2024 · The key component of successful multifamily investing is the process of underwriting. Learn why I chose to create a custom spreadsheet and how underwriting provides a detailed understanding of investments by examining Looking for a multifamily apartment proforma template in Excel? Need a back of the napkin apartment analysis? You’ve come to the right place. We prepared something sensible and fair for GP and LP with straightforward functionality. DISCOVER FORBURY Streamline your modeling workflows Intuitive software for efficient underwriting and cash flow analysis of multifamily and self-storage assets to enable smarter data-driven decisions throughout the commercial real estate lifecycle. Get 30% off all of our underwriting models with this bundle for the commercial, multifamily, and single-tenant net lease underwriting spreadsheets. Get tips on how to streamline the process and get your loans approved quickly! Automatically extract rent rolls and T12 statements into Excel for faster multifamily real estate underwriting. Multifamily properties represent a commercial business, are comprised of many individual units, and the number of underwriting factors are numerous in comparison to those for underwriting May 31, 2020 · Robert Beardsley of Lone Star Capital has become an expert on the topic of underwriting. First, I wanted the model to be robust – meaning the model had to be able to do everything an institutional-quality multifamily development model can do. Prints a nice report but excel Feb 2, 2022 · Death, taxes, and 3% rental growth from years 1-10 of the proforma. Learn how our proprietary data and tools are transforming the commercial real estate industry. The TSM Multifamily Acquisition Model is built to help you underwrite multifamily acquisition deals and analyze the acquisition of your apartment building on a monthly basis. Explore our advanced Multifamily Acquisition Model, crafted by a seasoned Financial Modeler with 10+ years in Real Estate Underwriting. Unlock the secrets to successful property analysis today! The Minnesota Housing Multifamily Underwriting Standards reflects Minnesota Housing’s general approach to underwriting, but it is not meant to be comprehensive, nor is it meant to address every possible situation. Ideal for small to large acquisitions, streamline your process today. Our Delegated Underwriting and Servicing (DUS ®) platform is the cornerstone of our multifamily financing, driven by a business-first mindset and a relentless focus on innovation. Feb 20, 2024 · Real Estate Multifamily Acquisition Model Introduction In this article, we will walk you through a back-of-the-envelope (“BoE”) Multifamily Acquisition Model that introduces some of the core real estate financial modeling concepts and those tested during the real estate private equity recruiting process. Discover our real estate financial models used by real estate investors and private equity funds to analyze and forecast the financial performance of real estate investments, syndications, and real estate funds. Evaluating the credit quality of multifamily properties is more complex than for single-family properties. Follow these 6 multifamily underwriting essentials to stay on the right track. Jun 4, 2025 · Discover how underwriting in today’s commercial real estate market is a strategic exercise in balancing assumptions, risk, and returns. Sixcap populates your custom Excel model with complete underwriting based on your assumptions. - Allows Once the single-sheet model was complete, we were able to create a one-page multifamily portfolio underwriting spreadsheet in the same workbook which easily drew from any number of the individual property worksheets. This Multifamily Development Proforma provides the perfect mixture of speed and detailed analysis. Leverage our AI driven CRE software to streamline your multifamily deals. In today's episode, we take a deep dive into the world of financial analysis in the context of multifamily property acquisitions. Jul 23, 2025 · Real Estate Financial Modeling, Excel Models, Apartment, Standalone, Acquisition Multifamily (Apartment) Acquisition Model (Updated July 2025) Our library of real estate Excel models has a variety of decent apartment models, including our All-in-One model and our Apartment Development Model – both robust models in their own right. What’s Included With Purchase: The Multifamily Development Model in its blank state so you can begin underwriting your deals. May 25, 2017 · Sixth in a series of walkthrough articles on how to use the All-in-One Real Estate Underwriting model; I underwrite a multifamily acquisition opportunity. He now teaches investors how to build smarter models Learn how to analyze and underwrite a multifamily investment opportunity in a comprehensive step by step walkthrough. Further, Beardsley has been recognized as a I specialize in Multifamily. Free Multifamily Pro Forma Template Our multifamily underwriting model calculates rental property cashflows, phases in rent appreciation for value-add investments, and sizes acquisition and refi loans. This in-depth guide explores the anatomy of multifamily deals, from analyzing historical performance and rent rolls to leveraging market comps and projecting future returns. INSTRUCTIONS FOR COMPLETING THE KHC MULTIFAMILY UNDERWRITING MODEL For 9% LIHTC and Non-Credit Projects If your numbers vary from KHC guidelines, you must explain these variances in the space provided. Additionally, you get the model we use daily to underwrite multifamily properties, which has over 10,000 downloads. Fund Manager Underwriting Toolkit Download our Fund Manager Underwriting Toolkit so you can analyze any investment opportunity and see the projected returns for your investors as well as your fund manager compensation. Click here to download the Excel template. The template was developed in collaboration with a couple friends that are real estate professionals. This process is the meticulous examination of multifamily properties, encompassing financials, market dynamics, and risk factors, all culminating in a comprehensive evaluation that guides investors toward wise choices. We explore the heart of our investment strategy – a spreadsheet meticulously crafted for underwriting multifamily deals. All the inputs will occur in only one tab with the following sections: Project Information and Development Timeline Reversion at Stabilization and after the hold period Construction In this post you will find a template for the acquisition of a fictional 160 unit multifamily property. Users can find models tailored to specific property types such as multifamily, office, industrial, retail, hotel, and mixed-use. Learn to analyze the T12 and rent roll, normalize expenses, and accurately project NOI to find profitable deals. Model debt scenarios Take Action Now Ready to transform your multifamily underwriting process? Get our Multifamily Underwriting Template [Link] See how Cactus cuts underwriting time by 92% (Schedule Demo) Register for "Multifamily Underwriting Mastery" webinar [Link] Remember: In today's competitive market, speed and accuracy determine your Jul 3, 2025 · The most comprehensive MS Excel real estate financial model available on Adventures in CRE for underwriting acquisitions and development deals. Analysis Tools for Real Estate Professionals Explore our simple and sophisticated multifamily underwriting Excel templates. This article explains the seven steps to multifamily real estate underwriting for beginners. Upgrade multifamily deal underwriting with our accurate, comprehensive model. At Fannie Mae Multifamily, we are the trusted leaders in providing reliable mortgage capital for the secondary mortgage market. This process involves analyzing various factors, including the property’s current financial performance, market conditions, and potential future performance. The Multifamily Development Model with a sample property fully underwritten for you to reference. But how to know which deal is perfect? Our Multifamily Property Analyzer spreadsheet walks you through every aspect of the deal, considers income, expenses, acquisition costs, mortgage expenses, and preferred exit strategy, and helps you make the most calculated decision. Every facet of the model is explained and can be easily navigated with the hyperlinked table of contents below. . The MFA Addin for Excel is an invaluable tool for multifamily investors and analysts looking to streamline their multifamily underwriting process and make informed investment decisions. This short guide will help you understand multifamily underwriting more in-depth and empower you to make informed investment decisions. It can be either used as a quick Back-of-Evelope Screening Model or as the foundation for detailed underwriting. CRE Value-Add Apartment Model for analyzing buy, renovate, rent growth, and sell scenarios with detailed returns and renovation tools. He has evaluated thousands of opportunities using proprietary underwriting models and published the number one book on multifamily underwriting, The Definitive Guide to Underwriting Multifamily Acquisitions. The template includes a full partnership waterfall model to accurately project GP and LP returns. We'll use our Value-Add and Redevelopment Models to demonstrate best practices. We handle the tedious steps and make it easier than ever for you to screen out bad properties and capitalize on great deals. Dec 13, 2024 · Read this post to explore the streamlined approach to multifamily property underwriting, focusing on enhancing cash flow and valuation accuracy for CRE professionals. The suite of MFA underwriting models are robust Excel-based multifamily analysis tools used to evaluate value-add apartment acquisitions. Oct 20, 2021 · Rob Beardsley is a Principal at the New York based multifamily real estate investment firm, Lone Star Capital. ai. At the end of this comprehensive course, participants can demonstrate mastery of knowledge, skills, and abilities expected of HUD-approved MAP underwriters. Aug 10, 2022 · A free, best-in-class multifamily underwriting tool explained thoroughly with images and video. The TSM Multifamily Development Model is built to help you underwrite multifamily development deals and analyze the development of your apartment building from the ground up on a monthly basis. View All Products If you’re purchasing multifamily real estate, this spreadsheet is the underwriting tool to ensure you’re making the most informed decision possible. He has evaluated thousands of opportunities using proprietary underwriting models MBA Education's FHA Multifamily Underwriting Training Program is the most extensive and rigorous curriculum of its kind in the Industry. Discover how to navigate the complexities of underwriting and make data-driven investment decisions May 7, 2020 · Rob Beardsley oversees acquisitions and capital markets for Lone Star Capital and has acquired over $300M of multifamily real estate. The guidance is not intended to supersede any specific program requirements, nor any federal, state, or local laws. Pro Formance CRE makes it easy for anyone to go from raw documents to comprehensive underwriting in under 10 minutes. CRE Apartment Development Model As I planned out my ideal apartment development model, there were a few criteria that guided the model’s creation. This component of the multifamily rental toolkit is intended for grantees seeking a sample underwriting template. "By working together with our innovative financing partner, Fannie Mae, we were able to May 25, 2020 · Contents Multifamily Development Equity Contributions Multifamily Development Refinance Timing Multifamily Development Rent Growth Debt Service Coverage Ratio (DSCR) Many times, the intricacies of a financial model can be complicated and hidden deep within formulas and logic. Our models are sensitive to the various expense loads that come with different multifamily architectures: garden style, hi-rise, walk-up, etc. Underwriting multifamily loans is different in many respects from underwriting single-family loans. I want to be fully transparent about how the Tactica tools operate. But now, a new trend is emerging that could put apartment investors in a precarious situation—Red hot rent growth across the U. Find out more here! How much is this property worth?How to underwrite and model your first multifamily property. Explore the benefits of our institutional quality real estate financial models, and how our services can assist you with your project, deal, syndication, or fund. He has evaluated thousands of opportunities using proprietary underwriting models and sold over 10,000 copies of his book, The Definitive Guide to Underwriting Multifamily Acquisitions. Nov 17, 2021 · This is a robust and easy to use multifamily renovation model for underwriting apartment acquisitions with some value add opportunities. Are you interested in multifamily or commercial real estate but don’t know how to run all the numbers? With this underwriting spreadsheet bundle, you’ll quickly be able to determine whether or not a deal makes sense for you as an investment. We're working to build the world's largest library of free Excel financial models (real estate pro formas) for commercial and residential real estate pros. Download for free, or schedule a demo and our team will walk you through it. He shares his unique insight into multifamily underwriting models. It provides a detailed structure for evaluating financial feasibility, including sources and uses, development cash flows, financing, and return metrics. Aug 23, 2022 · I like to think the IRR distribution model we use in Tactica Underwriting Models is “bare-bones” and easy to digest. Underwriting Model Download HorizonTen Properties Flagship Multifamily Underwriting Model Get your copy of HorizonTen Properties’ built-from-scratch multifamily underwriting model. Jun 25, 2025 · A. Financial analysis for commercial real estate investors. valuationIQ allows users to factor in detailed assumptions for a full range of customizable scenarios and guarantees a streamlined multifamily underwriting process for teams of all sizes. Simply input the number of units or square feet, purchase price and closing costs, anticipated rent and increases, your anticipated mortgage costs and Multifamily Value-Add Model vs. A complete cloud-based model for real estate underwriting The first 100% cloud-based underwriting model for real estate, built to replace spreadsheets with a comprehensive tool for analyzing multifamily deals. Multifamily Underwriting in 7 Steps // If you're analyzing a multifamily real estate deal, everything you need to take into account can get REALLY overwhelming. If multiple requirements or restrictions apply to a development Synopsis Real estate can be a rewarding investment if you find the right property at a reasonable price. * As with most of the financial models on this website, the data contained in this workbook is entirely fictional. Post any you have used and what you like/dislike about it. Effective underwriting requires a blend of financial acumen, market insight, and risk management. Apr 11, 2025 · Underwriting in multifamily real estate, with a comprehensive understanding of what it entails and how it impacts investment decisions. What is Multifamily Underwriting? Multifamily underwriting is the comprehensive analysis of a potential real estate investment, typically focusing on multifamily properties trueWhat underwriting models do you use to analyze commercial multifamily deals? Download our free Excel model and video tutorial for analyzing multifamily real estate deals. If you are looking for authentic information on this subject Apr 26, 2021 · The Tactica Multifamily Redevelopment Underwriting Guide serves three purposes: A Tutorial - A collection of blog posts, images, videos, and links for users using the Tactica Redevelopment Mode l. RedIQ - Web and Excel Sync. Our multifamily development model builder will customize a financial model that is personalized to fit your needs. We would like to show you a description here but the site won’t allow us. This model has the following features and more:Advanced debt structure modeling, includingsenior debt, junior debt, and preferred equityloan assumptions for senior debt pieceany combination of interest-only The model comes with four (4) training videos Nsp multifamily rental program underwriting template. Apr 30, 2020 · The Tactica Multifamily Value-Add Underwriting Guide serves three purposes: A Tutorial - A collection of blog posts, images, videos, and links for users using the Tactica Value-Add Model. Revolutionize CRE with Clik. Underwriting Template for Multifamily purchases or even single home purchases to rent??? Hey, would anyone be willing to share a underwriting template or free resource for a template that can incorporate a Multifamily Purchase (Duplex, triplex, quadplex) bought to rent? I am really looking for something to use as a base and build off of. Optimize your investment strategy with comprehensive DCF analysis, joint venture capabilities, and detailed financial projections. Every facet of the Excel spreadsheet is explained and can be easily navigated with the hyperlinked table of contents below. May 11, 2020 · Rob Beardsley oversees acquisitions and capital markets for Lone Star Capital and has acquired over $300M of multifamily real estate. Multifamily Redevelopment Model View this blog post for a more thorough comparison. Refer to the KHC Guidelines for the maximum allowable HOME request. Apr 18, 2025 · Dr. Learn multifamily underwriting. Sep 26, 2025 · Basic Objectives – A. Rob oversees acquisitions and capital markets for Lone Star Capital and has acquired over $350M of multifamily properties. It involves evaluating the financial viability of a property to determine whether it’s worth pursuing and, ultimately, making an informed decision about whether to submit an offer. Access to all future versions of the Model and bug fixes. Many believe that multifamily is the easiest of all asset classes to underwrite. Apr 16, 2025 · Mastering multifamily investment begins with rigorous underwriting. I go through all the inputs, outputs, and returns you can provide The free underwriting checklist ensures that investors cover all the essential aspects of underwriting and helps them avoid common mistakes. Apr 17, 2024 · The model is designed for underwriting multifamily development projects. Analyze financials, model plans, and choose debt wisely. and compressing cap rates across investment asset classes. With a background as a PhD-level chemical engineer, Jason brings a systems-based approach to underwriting, having transitioned from single-family rentals to large-scale multifamily syndications. Dec 2, 2021 · Do you have a multifamily real estate investment opportunity that allows you to add additional units? Learn how to underwrite this scenario in three different Tactica financial models (free and paid). Automate underwriting, analyze deals, and track your deal pipeline - all in one place. Sep 27, 2024 · Understand real estate underwriting for multifamily investments. Models for underwriting NNN, multifamily, office, retail, and industrial real estate investments. This blog post serves as a tutorial for the Tactica development Excel template and links to other free Excel models and resources. Jan 30, 2025 · Learn how to underwrite a multifamily deal with our 10-step guide, maximizing cash flow and minimizing risk for successful investments. The Ultimate Multifamily Underwriting Model Get the sophistication of an institutional-grade Excel model that’s fully connected to dataIQ. So in today's video, we're going to Accelerate commercial real estate underwriting through auto underwriting with Clik. Beardsley’s ability to create a proprietary underwriting model in order to de-risk and analyze potential investments in multifamily real estate properties, has helped him grow Lone Star Capital as fast as he has despite his young age. AI in commercial real estate. Learn about risk assessment, financial analysis, and due diligence in property evaluation. Sep 29, 2025 · I recently had a discussion in the All-in-One support forum about how to model a mortgage loan assumption using my All-in-One Model for Underwriting Acquisitions and Development. ai, the leading commercial real estate software. None of it should be used to Jun 20, 2022 · Learn the basics of multifamily loan underwriting with this easy guide. Additionally, over the last few years, many people have reached out to me asking for the best resources to learn the nuances of underwriting as well as how to build an underwriting model from Whether you need a model template using our Custom Model Builder, or automating your deal flow with our AI-driven platform, every solution is grounded in the same underwriting standards trusted across the industry. Note: this bundle does not include the residential development and construction model. Nov 20, 2024 · Underwriting a multifamily deal is one of the most critical processes in real estate investment. Founded in 2019 and powered by 3E Management, we bring real-world deal experience into every model we build—manual or automated. Learn which levers to pull—and when—for smarter deal modeling. Learn how Archer’s platform powers multifamily professionals by automating CRE. It is designed to set the standard for skills required by multifamily underwriters in the field of FHA lending. Below, we’ll move on to the explanation and tutorials. Aug 14, 2023 · Multifamily underwriting forms the backbone of savvy real estate investments. Jason Williams is the founder and CEO of Ironclad Underwriting, where he helps investors simplify and strengthen multifamily deal analysis. Our Multifamily Underwriting Course (MUC for short) is designed to help […] Rob oversees acquisitions and capital markets for LSCRE and has acquired over $700M of multifamily real estate. However, underwriting multifamily assets—analyzing their I wrote this book because I wish it had existed when I first began learning to underwrite multifamily acquisitions and building my own underwriting model. Jun 11, 2025 · Master multifamily underwriting with this step-by-step guide. S. If you've underwritten multifamily real estate, many investors use a 3% annual rental increase in their DCF model. Aug 27, 2025 · Our multifamily underwriting models include detailed rent rolls and unit mix summaries; either of which can be used as inputs to derive existing net operating income. Aug 16, 2024 · Multifamily underwriting is the process of evaluating the financial viability and potential profitability of a multifamily property. I am liking these web-based solutions but they have a bit to go before we fully transfer from excel models. Jan 28, 2022 · This article discusses when it's appropriate to underwrite multiple multifamily properties as one and when you should avoid it. Discover expert tips and techniques for successful deal analysis. Easy to create, accurate multifamily underwrites in under 15 minutes The FHA Multifamily Underwriting Training Program was developed in consultation with HUD’s Ofice of Multifamily Programs and expert teams of MAP Lenders, engineers, appraisers, and attorneys. Deferred Developer Fee (amount unpaid by Year 10 deducted from basis) SMAL (Small Multifamily Affordable Loan - 11 units or less) 2025 KHC Multifamily Underwriting Model Costs Not Paid During Construction (Must Identify) Total Operating Expenses, less utilities 4) Community Service Facility (CSF) or Commercial Space Uses - only complete if Jun 30, 2021 · Explore a tool that allows you to vet multifamily development opportunities seamlessly and intuitively. 3 days ago · These models span a wide range of commercial real estate scenarios—including acquisition underwriting, ground-up development, value-add strategies, stabilized asset analysis, and partnership-level waterfall structures. Multifamily Acquisition Model – Arcadia Gardens (XLSX) Industrial Development Model – 4216 61 Ave SE (XLSX) What’s the Point of Real Estate Financial Modeling? First, some definitions: we define “real estate” as land and buildings that generate revenue or have the potential to Understand multifamily real estate value & how to analyze them with a 5-step multifamily underwriting process to make informed investment decisions. Our AI-powered platform automates underwriting, deal analysis, loan origination, & document processing. Aug 18, 2022 · Learn how to underwrite a multi-family deal efficiently with expert insights and strategies. AI-Powered Analysis Works with any rent roll format, any T12 format, and any underwriting style. WDTech is Walker & Dunlop's in-house technology team. While this may be true, multifamily properties have their own set of unique challenges. Nice OS and RR uploader Argus - The behemoth, feels outdated but making improvements to cloud software Adventures in CRE - Excel models. kyw zedhzm vvrtsq aufft noluwlz jstsg tpbe kwipdlvn umwfdjy bbma kvfyfl dvbwwo ntxyw icjwy szpa