571: Is This Deal Worth My Time? The 6 Crucial Steps to Vet a Multifamily Deal

<p><strong>Real estate underwriting</strong> isn’t a commonly used term within the residential world. If you’re used to dealing with single-family homes, duplexes, triplexes, or quadplexes, you’ve probably done real estate underwriting to some degree, but you’ve called it “<a href="https://www.biggerpockets.com/blog/real-estate-investment-analysis" rel="noopener noreferrer" target="_blank"><strong>real estate analysis</strong></a>”. In both scenarios, investors are looking at <strong>what they’ll make on a deal</strong>, <strong>how much they need to invest</strong>, and what <a href="https://www.biggerpockets.com/blog/exit-strategies-real-estate" rel="noopener noreferrer" target="_blank"><strong>exit strategies</strong></a> they have.</p><p>But, in a hot housing market, like we’re in today, by the time you analyze a deal, a deal may already be gone.<strong> You need a way to quickly sort deals into the “pursue” or “dump” piles</strong>, and <a href="https://www.biggerpockets.com/users/andrewc58" rel="noopener noreferrer" target="_blank"><strong>Andrew Cushman</strong></a>, expert multifamily investor, may have just the solution for you. Andrew has been on the BiggerPockets podcast before and manages<strong> over 2,600 units</strong>, so he definitely knows what he’s talking about!</p><p>Today, Andrew showcases the phase one underwriting he uses to <strong>decide quickly on deals</strong>, as well as the <strong>four levers to look at before </strong>even getting into underwriting. His system can <strong>save you hours, or even days</strong>, if you’re a full-time investor, and it helps rookie investors quickly analyze deals so they can get into the game. Now, residential owners can transition into <a href="https://www.biggerpockets.com/blog/commercial-real-estate-fundamentals" rel="noopener noreferrer" target="_blank">commercial real estate</a> with better scale and bigger profits.</p><p><strong>In This Episode We Cover:</strong></p><p>How Andrew<strong> scaled from zero to 2,600 units </strong>in only