What Underwriting templates / softwares do you use?

Question

Hi All,

I am searching for an underwriting template and/or software that helps with underwriting market rate multifamily properties -  Preferably one that gives you a run down of the projected IRR of the deal.

Thank you in advance!

Dan Rowley · Answer

@Jim Ebadi  One of the best I've found is from Lonestar Capital (Rob Beardsley).  Last I knew it's available on their website and he has also written a book about underwriting that references the model.

Brian Lucier · Answer

Howdy @Jim Ebadi

Umm, reading your post I can only think of the story of "The field of diamonds". I did a quick search online before responding to your post. There are some great underwriting products out there that range from $150 to $500 bucks. They seem to be great products and come with tutorials to get you up and running.

In the "field of diamonds" story, the farmer sells his farm to pursue seeking diamonds elsewhere. For years he searches and finds no diamonds. Distraught and broke, he jumps off of a bridge and drowns in the river never finding the diamonds he seeks.

Meanwhile back at his old farm, the new owner sees a shiny rock in a bubbling stream and sets it on the fireplace mantle because it's pretty and shiny. A visiting friend is shocked and astonished to see on the mantle of his friend the largest raw uncut diamond he has ever seen. When asked where he found it, the new farmer replies "In the brook that runs through the property where there are many other stones just like this."

The original owner "sold the farm" to seek his diamonds elsewhere. Never realizing that he was sitting in the middle of his own field of diamonds.

So why the long story about diamonds when you are looking for an apartment building underwriting template? Is it a just a coincidence that you are on BiggerPockets that has some of "THEE BEST" underwriting templates known to investors?

I am going to go out on a limb here and suggest you go pro on biggerpockets. Yes, it is not free, but neither are those other templates you seek. Not only will will get access to unlimited underwriting templates that you can save as part of your profile and model different scenarios for any deal you may be considering. But you also unlock a host of other perks, benefits, networks, and tons of other resources with your BP membership.

You are posting your request literally in the middle of the "field of diamonds" for real estate investors both large and small. Full disclosure here. I am not employed by BP and have no dog in this fight other than to shine a spotlight on the exact website you are posting in to seek your "diamonds" looking for answers. You are standing right in the middle of your answer. Welcome home!