Four worked examples, with the models behind them.
Each one is an illustrative deal built from scratch, with the exhibits the client actually received. Figures are hypothetical.
Rebuilding the Underwriting
The model showed a 15.4% return, but four assumptions that each looked reasonable on their own were all leaning the same direction, and once they were rebuilt the deal came in at 5.1%.
Read the case study →The Ramp Nobody Funded
The plan had the building full in six months with $420,000 set aside to get there, but nothing in that market has filled in under fourteen months, and on a realistic ramp the number was closer to $1.34M.
Read the case study →A Refi That Couldn't Be Sized
Investors were told they'd get almost half their capital back in year three, but the refinance was sized in a way no lender would size it, and the partnership agreement quietly decided who absorbed the difference.
Read the case study →Underwritten Like an Apartment Building
The model ran a 48% expense ratio on a building with a commercial kitchen and a transportation program in it, and once the margin got rebuilt at 58% the 23% return came in at 1.9%.
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