Real estate underwriting isn’t a commonly used term within the residential world. If you’re used to dealing with single-family homes, duplexes, triplexes, or quadplexes, you’ve probably done real estate underwriting to some degree, but you’ve called it “real estate analysis”. In both scenarios, investors are looking at what they’ll make on a deal, how much they need to invest, and what exit strategies they have.
But, in a hot housing market, like we’re in today, by the time you analyze a deal, a deal may already be gone. You need a way to quickly sort deals into the “pursue” or “dump” piles, and Andrew Cushman, expert multifamily investor, may have just the solution for you. Andrew has been on the BiggerPockets podcast before and manages over 2,600 units, so he definitely knows what he’s talking about!
Today, Andrew showcases the phase one underwriting he uses to decide quickly on deals, as well as the four levers to look at before even getting into underwriting. His system can save you hours, or even days, if you’re a full-time investor, and it helps rookie investors quickly analyze deals so they can get into the game. Now, residential owners can transition into commercial real estate with better scale and bigger profits.
In This Episode We Cover:
How Andrew scaled from zero to 2,600 units in only ten years
The basic screening process that allows you to triage your deals and waste less time
Four levers every investor should look at when analyzing a new deal
The six factors of phase one multifamily underwriting and using it to unlock “home runs”
Developing and nurturing broker relationships so you can get off-market deals before your competition
And So Much More!
Links from the Show
BiggerPockets Forums
BiggerPockets Podcast 169: Using Hustle and Persistence to Build Wealth Through Real Estate with David Greene
BiggerPockets Podcast 170: The Journey From Flipping Houses to Owning 1,470 Units with Andrew Cushman
BiggerPockets Podcast 270: Turning Your Primary Residence Into 40 Units & Financial Independence with Amy Arata
How to Find Overlooked Opportunities in a Hot Market with Andrew Cushman
Hal Elrod's Website
BiggerPockets Calculators
Submit your Question for an upcoming Seeing Greene episode!
CoStar
ESRI
LoopNet
Invest with David Greene
David's Instagram
Check the full show notes here: https://www.biggerpockets.com/show571
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