Category Archives: 2025

Not All Deals Are Created Equal: Why an Independent Underwrite Review Can Save You Time and Money “I don’t have time to become an underwriting expert, but I still want to invest wisely.” I have heard that sentence from many investors more times than I can count – and I get it. In a market […]

[If you missed my last pop up live event, you can catch the replay HERE.] Not all Debt Service Coverage (DSC) covenants are created equal. Ignore that truth, and you might find yourself in default without even realizing it. After working on countless deals across asset classes and markets, I have seen how even seasoned […]

[If you missed the last live event on rent comps, you can catch the replay here.] “You can get the cap rate right… and still kill your deal if you miss the rent comps.” That’s the hard truth I have learned – and seen investors learn the hard way – over and over. After years […]

[If you missed the replay of my pop up live on exit cap rates, you can access it HERE.] If there is one thing that separates a stable multifamily deal from a ticking time bomb, it is reserves. Yet, they are often the least talked-about component during underwriting. Operating Reserves: Your First Line of Defense […]

One question that often comes up is which metric is more meaningful when measuring total return – Internal Rate of Return (IRR) or Equity Multiple (EM)? The short answer is: both matter. But each tells a different part of the story. Equity Multiple (EM) is a straightforward measure: how much total cash you received relative […]

Not all multifamily properties are created equal. From luxury high-rises to buildings in need of rescue, knowing the difference between Class A, B, C, and D assets is essential to building a sound investment strategy. 🏢 Class A: The Luxury Lane (Core) Class A properties are the top tier of multifamily real estate. Built within […]

Underwriting multifamily deals can feel overwhelming at first, but breaking it down into a step-by-step process makes it manageable. Whether you’re new to underwriting or refining your skills, here’s a 5-step checklist to get you started: 1. Define Your Focus: Market, Asset Type, and Class One of the biggest mistakes new underwriters make is trying […]

When analyzing a real estate deal, most investors focus on cash flow, cap rates, and appreciation potential. But there’s one crucial metric that often gets overlooked—one that could mean the difference between a profitable investment and a financial headache. That metric? Break-Even Occupancy. Why Break-Even Occupancy Matters Break-Even Occupancy tells you the point at which […]

Part 2: The Final 5 Factors That Make a Market Strong In Part 1, I covered five key factors for evaluating a market. Here are five more that matter just as much: Get these 10 factors right, and your deals will perform better from day one. Want to take the next step? 📩 Download your […]

Part 1: Why Market Selection Matters More Than the Deal I’m often asked: What’s the first step in underwriting deals? The answer isn’t the numbers! It’s the market—because market conditions determine your inputs (aka assumptions) for the financial analysis and cash flow projections that are ultimately used to derive the investment valuation and profitability. A […]