Pro-forma pricing.
Pick the underwriting workbook you need, bundle both for the best per-model price, or add ongoing community support and resources.
Choose your workbook(s).
Each workbook is a standalone one-time license. Buy one, or bundle both and save.
New Financing Underwriter
Underwriting workbook for acquisitions financed with new debt, plus the companion guide and free investor guide.
- 17-tab underwriting workbook
- New Financing Edition guide (PDF)
- Free Investor Guide
- Excel + Google Sheets
- Email support
Assumption Loan Underwriter
Underwriting workbook for deals assuming the seller's existing below-market loan.
- 17-tab assumption workbook
- Loan Assumption Edition guide (PDF)
- Free Investor Guide
- Excel + Google Sheets
- Email support
Both workbooks in a single purchase at the best per-model price. Run either financing path on the same deal and pick the cheaper cost of capital.
Add ongoing support.
Start with the bundle, then add community support and resources for the deals you're underwriting.
Both Workbooks + Community Support & Resources
Everything in the bundle, plus exclusive access to the T12 Breakdown Tool and the Vacancy Forecast Tool, plus ongoing community support and resources — a private investor community and a living library of investor documents. The T12 Breakdown Tool and Vacancy Forecast Tool are available exclusively through this tier and are not sold as standalone products.
You can start with either workbook alone and upgrade to the bundle or full access later.
One-time licenses for the workbooks; the Community tier is $489.99, then $99/month, and includes the T12 Breakdown Tool and Vacancy Forecast Tool. Perpetual use of the workbook version you purchase, on unlimited deals.
Every workbook ships in native Excel and as a Google Sheets copy, with identical formulas and no macros or add-ins. Guides are delivered as PDFs.
Email support on the workbook licenses. The Community tier adds mentor access, a peer community, and the investor document library.
Common questions about underwriting and the tools.
The fundamentals behind a defensible underwrite and how the models handle them — from the inputs you need to the returns you defend.
Underwriting is the disciplined process of projecting a property's income, expenses, debt, and returns so you can decide whether a deal is worth your capital. A defensible underwrite is what separates a repeatable investment strategy from speculation — it lets you compare deals on the same terms, defend your numbers to lenders and partners, and avoid overpaying for cash flow that doesn't actually exist.
At minimum you need the rent roll, the trailing twelve-month operating statement (T-12), the current leases, and the property tax history. Strong underwrites also pull market data — population and job growth, the new-supply pipeline, and comparable rents — so your forward assumptions are grounded in the market, not the broker's pro forma.
The workbooks are built specifically for multifamily acquisitions — the income, expense, debt, and return engines are pre-wired so NOI, cap rate, DSCR, cash-on-cash, and IRR calculate correctly the moment you enter inputs. There are no broken formulas to chase, no macros to enable, and the output is formatted for lender and partner review rather than for internal bookkeeping.
The New Financing Underwriter models a purchase where you originate a new loan — sizing debt to DSCR, projecting amortization, and calculating returns from a clean starting balance. The Assumption Underwriter handles deals where you take over the seller's existing loan — carrying its remaining balance, rate, and amortization schedule forward, which changes debt service and equity returns in ways a new-loan model can't capture.
Every workbook ships in native Excel format and works in Google Sheets with identical formulas — no macros or add-ins required. Open it in whichever environment your team prefers; the calculations and formatting carry over.
Input cells are open and clearly labeled so you can model your own market, expense, and debt assumptions. Calculation cells are protected by default to prevent accidental edits, but the protection can be removed so you can extend the model for a specific deal structure.
Pressure-test every input: reconcile the T-12 against the rent roll and bank deposits, underwrite expenses to your own reality rather than the seller's, and confirm rent growth against market data. Then apply downside cases — higher vacancy, lower rent growth, rising expenses — and confirm the deal still clears your minimum return hurdles before capital moves.
Yes. The workbooks produce investor-facing summary output — returns, debt metrics, and a clean sources-and-uses — built for LP distribution packages. The Community Support & Resources tier adds an investor community and a growing document library so you can refine your presentation and your assumptions before you send the model out.