Underwrite a value-add business plan with its renovation budget

For Acquisition & investment teams · also Owner-operators & property managers, Lenders & debt funds

Underwrite this: [address] ([number] units) at [asking price], from the attached T-12 and rent roll, with a renovation budget of [budget] over the first two years and a [number]-year hold. What is the return and is the entry price right once the capex is in?

You give

The address; the T-12; the rent roll; the asking price; renovation budget; the hold period in years

You get

Returns, NOI, cap rate, DSCR, sensitivity and a verdict on the entry price, in the assistant Often also: memo (PDF)