I’m starting to get into commercial real estate and want to learn how to underwrite multifamily deals. What are some good free resources to start?
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[{"id": "hokonrh", "text": "\"Are there any other skills you would recommend learning for someone getting into commercial and doing multifamily?\"\n\nGoogle would be a huge skill for you to develop.", "replies": [{"id": "holoegu", "text": "I must have Alzheimer\u2019s bc i don\u2019t remember asking about how to be an asshole. You must get so many deals. Congrats on all your success. \ud83d\ude42", "replies": [{"id": "holurv4", "text": "who said I was a REALTOR champ?", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hokz0lo", "text": "As in free, I don't know, but for a very low price, take a look at breakintocre they have a couple of courses, and a bootcamp where you can learn how to underwrite MF. Great place to start.", "replies": [{"id": "holnzgv", "text": "Thank you so much!", "replies": [], "depth": 2}], "depth": 1}, {"id": "hol2a50", "text": "Make sure you already have a solid foundation in MF asset valuation. If you don't, I would recommend the Fisher/Brueggeman RE Finance textbook to solidify your knowledge (you *might* be able to find a PDF of it on the internet if you look in the right places). The next piece is understanding the credit worthiness of a borrower (the actual underwriting part). I am still relatively new to the industry, but I've found the most effective way to learn underwriting is working with a seasoned underwriter day to day (talk to someone who has seen multiple business cycles). Underwriting takes practice and there are good reasons why it's not *free* to access (time learning a skill is not *free*).", "replies": [{"id": "hol3x70", "text": "I'm pretty new and I was looking up stuff earlier this year too too. Do you know of any resources regarding the brokerage portion?", "replies": [{"id": "holcif5", "text": "For the brokerage side of things, I think being exposed to OMs (Offering Memorandums) would be great. I am not aware of any programs/textbooks that can teach you how to write an OM, and I would guess the best way to learn is to work as a part of a CRE broker's team.", "replies": [], "depth": 3}], "depth": 2}, {"id": "holny7f", "text": "Thank you so much!", "replies": [], "depth": 2}], "depth": 1}, {"id": "hol4n6e", "text": "adventuresincre has some great models and walks you through how to use them.", "replies": [{"id": "holo1hh", "text": "That\u2019s awesome thank you!!", "replies": [], "depth": 2}], "depth": 1}, {"id": "holdo7m", "text": "You can watch courses on Udemy. I watched a bunch of Justin Kivel's courses and they are very good. I reached out to him directly on LinkedIn and he responded that I do the following courses in order to learn how to underwrite multi-family as well as model equity waterfalls. you can really just watch the first and second course to get multi underwriting down pat but after that, you need to practice with OM's from brokers.   \n1. The Real Estate Financial Modeling Bootcamp  \n2. The Complete Guide To Multifamily Real Estate Investing  \n3. The Real Estate Pro Forma Modeling Master Class  \n4. The Real Estate Equity Waterfall Modeling Master Class", "replies": [{"id": "holo2wv", "text": "This is really helpful thank you so much!!", "replies": [], "depth": 2}], "depth": 1}]