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The real estate collection / Intermediate
Mastering Multifamily Underwriting and Acquisition
Analyze, underwrite and acquire multifamily deals with confidence.
Watch a free previewBy BBT Blueprint Academy
32
Video lessons
7h 24m
Total learning time
3
Free previews
The opportunity
About this course
A step-by-step program covering market selection, deal sourcing, financial underwriting, due diligence and closing on multifamily acquisitions. Includes 32 video lessons, downloadable templates and a capstone underwriting assignment.
Your learning path
6 sections · 32 lessons01Foundations
4 lessons
- Welcome & how this course worksPreview10m
- Why multifamilyPreview12m
- Asset classes A, B, C, D14m
- Key terms every underwriter uses16m
02Market Selection
4 lessons
- Choosing a target market18m
- Reading population & job data20m
- Submarkets and neighborhoods8m
- Rent comps and sales comps10m
03Deal Sourcing
4 lessons
- Working with brokersPreview12m
- Reading an offering memorandum14m
- Off-market deal flow16m
- Screening deals in 10 minutes18m
04Underwriting
10 lessons
- Building the rent roll20m
- Trailing 12 (T12) analysis8m
- Income assumptions10m
- Expense assumptions12m
- NOI and cap rates14m
- Debt sizing and DSCR16m
- Value-add and renovation budgets18m
- Exit strategy and returns (IRR, CoC, EM)20m
- Sensitivity analysis8m
- Red flags in the numbers10m
05Offers & Due Diligence
5 lessons
- Writing a letter of intent12m
- Purchase and sale agreement14m
- Physical due diligence16m
- Financial due diligence18m
- Renegotiating after diligence20m
06Financing & Closing
5 lessons
- Agency vs bridge debt8m
- Raising capital basics10m
- Closing checklist12m
- Takeover and first 90 days14m
- Capstone: underwrite a real deal16m