1
Choose a property type and enter the deal.
The form adapts to each asset class — multifamily asks for unit mix, hotels for ADR and occupancy, office for a rent roll. Start with the seeded example, then replace it with your numbers. Grey notes under key fields show typical market ranges as a sanity check.
2
Set the financing and return assumptions.
Going-in and exit cap rates, discount rate, leverage, and the equity waterfall live in sections 3–4. The advanced lease terms (expense recoveries, escalations, options) are optional — open them only if your deal needs them.
3
Run the analysis and read the results.
You'll get a full cash-flow projection, returns (IRR, equity multiple, DSCR), a Monte Carlo range, and the GP/LP waterfall. Hover any metric for a plain-language read on what it means and whether it's strong.
4
Compare scenarios, then export.
Compare Scenarios runs downside / base / upside side by side. Export a polished PDF summary or a full Excel model for committee or lender review.
5
Save deals and build a fund.
Save underwritten deals to your library, then roll several into a fund to see blended returns — IRR, TVPI/DPI/RVPI, and a fund-level waterfall across the portfolio.