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Underwriting that carries into the deal
Underwriting isn't a calculator you run once and close out. It's the set of numbers the rest of the deal has to answer to. You underwrite on the actual property record, so the price, the capital stack, the rehab budget, and the exit you sign off on are the ones that follow the deal through close and into the portfolio.
Underwriting in context
Funding & capital stack
For Investors Underwriting
Underwriting
Model each acquisition before you commit capital.
Model on the real property
Comps, ARV, the rehab scope, holding and exit assumptions all sit on the record. Change an assumption and the metrics move with it. When the deal closes the record is already built, so nothing gets keyed in twice.
Build the stack from your funding sources
The capital stack is built from your funding sources, so the debt and equity tranches, the waterfall, and the partner splits reflect how you actually finance a deal. Your partners see the same splits you modeled.
Scope the rehab against a real budget
The rehab scope you underwrite becomes the budget the project runs on, checked line by line against real spend. When a job comes in over, you see it against the number you signed off on.
Freeze the package before it goes out
When you're ready to make the offer or take it to a lender, you freeze the deal package, which locks the assumptions, comps, capital stack, and rehab together. If any of them change after that, ThisProp flags it so you re-freeze before you send.
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