How to Underwrite Multifamily Real Estate Investments

Description

Welcome to the Multifamily Real Estate Underwriting mastery course. If you are new to real estate investment underwriting and would like to develop working knowledge and skills so that you can quickly begin underwriting properties, then you are in the right place. This course is going to focus on steps of the underwriting process beginning with receiving an offering memorandum, T-12, and rent foll all the way up to the point of deciding whether to send an LOI to a seller. While I will provide you with some useful Excel formulas, the focus of this course is going to be on understanding of both conceptual and applied underwriting for multifamily versus “building Excel models from scratch.”  For those of you more adept with using Microsoft Excel, you can deconstruct the completed model in the final lesson and create your own from scratch using concepts taught in this course.

You will find the format of this course consists of both video and written text lectures that have many downloadable files you can use for practice.

This course is divided into the following lessons:

· Lesson 1: Overview and Valuation Basics

· Lesson 2: Deal Underwriting: Quick Analysis

· Lesson 3: DCF (Income Approach)

· Lesson 4: Real Estate Debt

· Lesson 5: Partnership Cash Flows

What You Will Learn!

• Learn how to perform a quick property analysis to determine whether you should look further
• Build out monthly cash flow model and roll up into annual cash flows
• Understand IRR and its limitations
• Calculate mortgage payments, payoff amounts, interest only payments, and more
• Understand how partnership waterfalls are constructed and differentiate between project and partnership-level returns

Who Should Attend!

• Beginning real estate analysts, underwriters, or investors.

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