Hey Henry, I'd love to see the underwriting spreadsheet you use and see how I write software to help Miami agents with underwriting and save time (I'm a former Miami agent turned software developer) . But nothing happens when I submit the form from the link in the description, could you take a look?
I enjoy your content Henry, but this underwrite is WAY too aggressive. Missing Vacancy (5%), Management Fees (5%), Structural Reserves ($300/unit), and Payroll. Also RM is way too low at $535/unit. RM+Payroll for 28 units should be at least $50k+.
Funny enough I don’t underwrite using this spreadsheet. I have my own custom one. This lender used a quick method for DSCR loans which doesn’t use any of the items you mentioned. But when I look to buy a property I would never not add vacancy and management. Smaller deals I don’t typically add in payroll. 5% Management is more than enough. Doesn’t need to be double accounted for.
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Hey Henry, I'd love to see the underwriting spreadsheet you use and see how I write software to help Miami agents with underwriting and save time (I'm a former Miami agent turned software developer) . But nothing happens when I submit the form from the link in the description, could you take a look?
Please email me at info@henryeisenstein.com
@@henryeisenstein Sent
Underwriting doc isn’t linked
3rd link in description. If it doesn’t send you the doc, I’ll email you
I enjoy your content Henry, but this underwrite is WAY too aggressive. Missing Vacancy (5%), Management Fees (5%), Structural Reserves ($300/unit), and Payroll. Also RM is way too low at $535/unit. RM+Payroll for 28 units should be at least $50k+.
Funny enough I don’t underwrite using this spreadsheet. I have my own custom one. This lender used a quick method for DSCR loans which doesn’t use any of the items you mentioned. But when I look to buy a property I would never not add vacancy and management. Smaller deals I don’t typically add in payroll. 5% Management is more than enough. Doesn’t need to be double accounted for.