The Definitive Guide to Underwriting Multifamily Acquisitions: Develop the skills to confidently analyze and invest in multifamily real estate

by Robert Beardsley

“This is a phenomenal resource for understanding how to underwrite a multifamily deal. Our group, PassiveInvesting.com, has been using a variation of Rob’s underwriting model for a couple of years now and we have acquired over $220mil+ in multifamily assets. I highly recommend you listening to Rob and taking advantage of knowledge within this book." –Dan Handford, Managing Partner with PassiveInvesting.comAre you overwhelmed with multifamily investment opportunities that all seem to have the same business plan and projected returns but don’t know which one actually makes sense? Do you want to be able to cut through the noise and see the real numbers for yourself? The Definitive Guide to Underwriting Multifamily Acquisitions is the only step-by-step book that provides you with all of the tools you need in order to become a numbers ninja, invest smarter, and structure more profitable partnerships. Get inside the mind of a multifamily underwriting expert and learn the crucial skills required to make better investment decisions, which •Collecting and researching the data needed to underwrite a multifamily investment•Walking through a step-by-step guide to building a purchase, cash flow pro forma, and sale analysis•Designing and performing sensitivity analyses and stress tests to uncover hidden insights about risks, financing, and optimal business plans•Structuring and negotiating partnership structures so you know you’re always getting the best deal possible for yourself and/or your investors. "The Definitive Guide to Underwriting Multifamily Acquisitions is a must-read for both passive investors and sponsors looking to take their investments to the next level. Rob delivers lesser-known insights regarding sensitivity analyses, stress tests, and partnership structures in a concise format. Rob provides readers the tools to make confident investments in multifamily partnerships/syndications." –Joe Fairless, Co-Founder of Ashcroft Capital "Rob Beardsley is a true expert at the all-important but often ignored art and science of underwriting. The Definitive guide is a fantastic resource for anyone that needs to learn more about underwriting, and even professional underwriters will find plenty of food for thought in here." –Neal Bawa, CEO, Grocapitus and MultifamilyU"The Definitive Guide to Underwriting Multifamily Acquisitions is a zero-fluff approach to analyzing potential apartment acquisitions. Not only does Rob tell you the exact metrics to focus on prior to moving forward with a purchase, he also gives you dozens of rules of thumb that you can refer back to when underwriting a new opportunity. This alone will save you countless hours while sifting through deals, trying to find the diamond in the rough, and removing those without potential." –Hunter Thompson, author of Raising Capital for Real Estate & Founder of Asym Capital "I've had the pleasure of knowing Rob as a syndicator and investor in the multifamily niche. He's supported reviews on several of our projects. I've always been impressed by Rob's attention to details, ease of explaining more complicated concepts and fresh perspective on deal structuring. I expect you will find this book highly useful as I did." –David Thompson, CEO and Founder, Thompson Investing

Genres: Business

115 pages, Kindle Edition

Published May 11, 2020

Reviews

[Chris · Rating 3 out of 5]

The Skinny: A quick but thorough read that will give you the confidence to start reviewing real estate investment deals.

The Good: The book is a very good introduction to multifamily underwriting and provides both breadth and depth. It is easy to follow and offers a lot of good info and tips. I especially like the focus on stress testing and being diligent in your assumptions, not enough people think about the downside.

The Bad: Low production quality with a good amount of inconsistencies and grammar type errors. Descriptions also oscillate between being too general to very esoteric. I think Rob is going to be writing a lot more books in the future and look forward to reading them all.

[Christopher · Rating 4 out of 5]

Excellent read but a stretch for the beginner. A great reference that challenged me to research a bit more online - certainly worth re-reading. Each time I pick it up, I understand new things as I delve deeper into the industry.

[Derick Mboweni · Rating 5 out of 5]

Underwriting Multifamily

This book deserve a five star rating. It uses practical examples easy to follow. This well written book easy to understand. I recommend this book to any real estate investor.

[Colm McEvilly · Rating 5 out of 5]

brings up good relationship points between returns and several assumptions

Very short
Direct
Worth it

[Don Clark · Rating 5 out of 5]

Detailed guide to how to analyze and properly underwrite multi family deals

[Valerie Huertas · Rating 4 out of 5]

As a struggling analyst at Freddie Mac, this helped! My boss recommended it and I was able to learn new terms and apply some of the tips from this book.