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Want to know how real estate analysts underwrite projects? This is the process.

Spencer Correnti (Founder & CEO of Alkaline Advisors) and Jessy Gendelman (Partner) walk through the 5 steps analysts use on engagements, then underwrite a 352-unit value-add multifamily acquisition live in Excel.

What You'll Learn:
✓ 5 steps an analyst walks through
✓ How to scope a deal and set client expectations
✓ How to read an offering memorandum, rent roll and T12
✓ Mark-to-market rents and multifamily operating expenses
✓ Back-of-envelope underwriting: sources & uses, debt, exit
✓ Return metrics: IRR, equity multiple, cash-on-cash and DSCR

Perfect For:

Students exploring finance/real estate careers
Aspiring and junior real estate analysts
Multifamily investors evaluating value-add deals
Anyone preparing for a real estate finance interview

Timestamps:
00:00 Intro
01:22 The 5 Steps to Analysis
13:15 Pitching & Scoping
27:00 Parts of the Analysis
36:49 Multifamily Underwriting
55:55 Sources, Debt & Returns

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