Poll: What's your go-to method for underwriting multifamily?
What tool/program/method do you use most often to underwrite or analyze a potential multifamily investment property? I don't care what industry role you're in (analyst, investor, lender, etc).

[View Poll](https://www.reddit.com/poll/m7y0gk)
[{"id": "gregl4f", "text": "We have to use Argus so we can roll up portfolios. Argus multifamily is trash.  Everyone just tries to recreate Excel models in Argus and ignores all of their ridiculous bells and whistles", "replies": [{"id": "grhe5cc", "text": "You know, I thought to add Argus as an option in this poll, but then I was like \"Nah, nobody uses Argus for Multifamily.\"  \n\n\nI stand corrected.", "replies": [], "depth": 2}], "depth": 1}, {"id": "greif5t", "text": "Custom excel models", "replies": [], "depth": 1}, {"id": "gremb22", "text": "Excel. Never worked on a transaction that didn\u2019t use this as a base, circular references and iterative calcs included.", "replies": [], "depth": 1}, {"id": "grftj6d", "text": "Custom Excel models from [Too Shelf Models](http://www.tsmfinancialmodels.com)", "replies": [], "depth": 1}, {"id": "grlddy8", "text": "When you\u2019re using other people\u2019s money and have a fiduciary responsibility you need to have a thorough model and document everything. If you don\u2019t know what you\u2019re doing and you\u2019re a full-time dentist buying 4 cap apartments on your own with incorrect assumptions this \u201cthoroughness\u201d is a liability.\n\nThe reality is that the math isn\u2019t that difficult for underwriting, and simple excel models are totally fine. \n\nA lot of $100 Millionaires out there that don\u2019t even model their deals. If you set the deal up right to cash flow from the beginning you can just use a cap rate spread.", "replies": [], "depth": 1}, {"id": "hjakz6o", "text": "Just seeing this post, and had a follow-up question. For the 148 Excel users, what's the most painful part of underwriting a multi deal? Thank you!", "replies": [], "depth": 1}]