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[Cashflow and Rent Roll Comparator](https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/nF5spFVQhqCGA3flYxyGwQ.md) (Video) --- # VIDEO: InvestAssist - Multifamily Acquisition Suite ## METADATA - id: a99drPw6mHaaMUc3gQJwbA - type: video - source: Clik.ai - content_url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA - collection_url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q ## TRANSCRIPT - time: 00:00 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=0 text: In this video, we will demonstrate how InvestAssist streamlines the complex process of analyzing and managing real estate - time: 00:06 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=6 text: investments. - time: 00:07 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=7 text: With just a few clicks, you can access comprehensive data insights, helping you make informed decisions faster and with - time: 00:13 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=13 text: greater accuracy. - time: 00:17 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=17 text: This is the Morgans Landing apartment deal that we will be structuring within our syndicator model. - time: 00:23 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=23 text: The property is a 350-unit apartment complex located in La Porte, Texas. - time: 00:29 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=29 text: Built in twenty twenty one, the sponsor acquired the project directly from the developer for seventy three point two five - time: 00:35 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=35 text: million dollars with an earnest, money deposit of approximately one point five million dollars. - time: 00:40 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=40 text: Financing was secured at sixty seven percent loan to cost LTC resulting in a loan amount of roughly forty nine - time: 00:46 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=46 text: million dollars. This loan features a fixed interest rate of four point eight percent over a ten year term and includes a - time: 00:52 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=52 text: thirty year amortization schedule. - time: 00:55 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=55 text: The closing date was set for December twenty twenty two. To cover the remaining purchase price, the sponsor raised - time: 01:01 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=61 text: about eighty percent of the equity from investors and contributed the remaining amount themselves. - time: 01:06 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=66 text: The partnership was structured with an eighty percent share for the limited partners and a twenty percent share for the general - time: 01:12 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=72 text: partners. - time: 01:16 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=76 text: The agreement terms included a six percent preferred return component. Investors are entitled to one hundred percent of the cash flows until - time: 01:20 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=80 text: a - time: 01:24 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=84 text: percent internal rate of return IRR is achieved. - time: 01:27 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=87 text: Subsequently, until reaching an eighteen percent IRR, the profit sharing ratio is approximately seventy percent and - time: 01:33 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=93 text: thirty percent. - time: 01:34 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=94 text: Once the eighteen percent IRR is reach profits are split evenly with both the LP and GP each receiving - time: 01:40 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=100 text: fifty percent. A two percent fee on revenues is charged for asset management. - time: 01:46 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=106 text: We will now use this information to underwrite the deal and assess the returns investors are receiving from the property and the - time: 01:51 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=111 text: profit they are making. We will utilize the rent roll and trailing 12 statement documents to underwrite this deal on the - time: 01:57 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=117 text: InvestAssist platform. - time: 02:00 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=120 text: After logging in, you'll notice the default list view. - time: 02:04 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=124 text: To add a deal, simply click the add deal button located in the top right corner. You can search for a property by - time: 02:10 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=130 text: entering either its name or its address. - time: 02:13 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=133 text: Following that, we simply need to provide some details about the property, such as the fact that it has three hundred and fifty - time: 02:19 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=139 text: units, the purchase price was seventy three point two five million dollars, and the building was constructed in twenty twenty - time: 02:25 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=145 text: one. - time: 02:26 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=146 text: Upon saving, the deal will be created, and our next step is to upload and validate the data from the documents. - time: 02:33 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=153 text: We will now upload the rent roll and trailing 12 documents by clicking and browsing the respective buttons provided in the - time: 02:39 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=159 text: app. - time: 02:41 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=161 text: Since the documents take only to process, we can begin validating the data as soon as the status changes to processed. - time: 02:50 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=170 text: We can do that by clicking the review and validate. - time: 02:54 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=174 text: The rent roll data has been successfully extracted on the platform. - time: 02:58 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=178 text: All columns, including start date and date and unit information, - time: 03:02 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=182 text: are now in a standardized - time: 03:04 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=184 text: format. - time: 03:05 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=185 text: When comparing this to the original document, you'll notice that charge codes were initially spread across rows, making - time: 03:11 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=191 text: manual processing difficult. - time: 03:13 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=193 text: Our platform has reorganized these charge codes into columns. Clearly separating tenant charges for each code such - time: 03:19 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=199 text: as rent, garage, and pet rent. Now we only need to verify that the totals match the original documents. - time: 03:26 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=206 text: To do this, we first complete the configurations starting with the charge codes. - time: 03:31 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=211 text: Here, you can verify that the charge codes from the original document are correctly mapped to their respective categories. - time: 03:39 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=219 text: If any adjustments are needed, they can be made from the top down menu. - time: 03:43 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=223 text: After saving these settings, we move on to the occupancy code, which also appears correctly mapped. Next, we - time: 03:49 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=229 text: address the floor plan. - time: 03:54 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=234 text: In this document, unit types were not specified and information was organized by floor plan lacking bed and - time: 04:00 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=240 text: bath details. - time: 04:01 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=241 text: If the user knows this information, it can be added via the top down menu as it is mandatory on the platform. - time: 04:07 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=247 text: For now, I'm assuming bed and bath details based on square footage. - time: 04:12 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=252 text: After renaming the floor plan and saving it, we can generate a summary of charge codes and floor plans by clicking the - time: 04:18 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=258 text: summary button. This allows us to match totals with the original document, ensuring everything aligns. - time: 04:24 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=264 text: The summary also provides details on the number of units, including vacant and occupied ones, and the average square - time: 04:30 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=270 text: footage per floor plan. - time: 04:34 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=274 text: Once all data is verified and matches the original document, we can mark it as validated. - time: 04:41 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=281 text: Subsequently, - time: 04:41 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=281 text: it will generate a unit mix summary organized by floor plan, unit type, bed, and bath configuration, - time: 04:47 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=287 text: and unit size. Average is over thirty, sixty, and ninety days will assist users in better comprehending the data - time: 04:53 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=293 text: in the document. - time: 04:55 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=295 text: Let's review the trailing twelve statement now. - time: 05:00 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=300 text: Now moving on to the trailing twelve statement, the statement is processed on the platform. - time: 05:05 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=305 text: As you can see, the data has been extracted. - time: 05:09 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=309 text: The first column appears to be unnecessary as it was hidden in the original document so we can delete it. The line - time: 05:15 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=315 text: items have been categorized with income items highlighted in blue. - time: 05:19 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=319 text: Expenses in light red and capital expenses in yellow. We need to verify that the totals match to check if the - time: 05:25 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=325 text: categorization - time: 05:26 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=326 text: done is correct. - time: 05:27 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=327 text: I noticed that the NOI was mistakenly categorized under replacement reserves, so I am marking it as net cash flow since it is the - time: 05:34 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=334 text: NOI. - time: 05:35 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=335 text: Additionally, net operating income was incorrectly categorized as repair and maintenance, so I am correcting it to NOI. - time: 05:43 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=343 text: After these adjustments, the NCF calculated matches our platform's calculations. - time: 05:49 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=349 text: The total from the document matches the calculated total indicated by a green highlight. - time: 05:54 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=354 text: You can also check the NOI total by switching to the NOI view, which shows the matching total of c seventy three. - time: 06:02 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=362 text: A statement has been accurately extracted on the platform. - time: 06:06 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=366 text: You can review the summary for total income, expenses, and capital expenses, as well as the n I and NCF - time: 06:12 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=372 text: amounts. After this review, I am marking it as validated. - time: 06:16 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=376 text: A cash flow summary will be created after marking it as validated. - time: 06:23 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=383 text: Some analysis and charts can be checked here. - time: 06:26 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=386 text: Both documents have been validated. - time: 06:29 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=389 text: We are now transitioning to the assumptions section, which will be updated based on our initial underwriting notes. You also - time: 06:35 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=395 text: have the option to create multiple sets of assumptions for various scenarios, allowing you to modify and reuse them as needed in - time: 06:41 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=401 text: the future. - time: 06:44 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=404 text: This approach is a significant time saver. - time: 06:49 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=409 text: After assumptions, all we need to do is generate the model, which will take five to ten seconds to create after the files are - time: 06:55 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=415 text: selected and generate model button is clicked. Once downloaded, you can open up the model in your - time: 07:01 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=421 text: system. - time: 07:02 url: https://knowledgecenter.clik.ai/j2L50dQjvYRU1342fF706Q/a99drPw6mHaaMUc3gQJwbA?start_time=422 text: It will open in an Excel with all the data populated in the right place. Thank you for watching. ## SUMMARY # How InvestAssist Streamlines Real Estate Investment Analysis In this video, we will demonstrate how InvestAssist simplifies the complex process of analyzing and managing real estate investments. With just a few clicks, you can access comprehensive data insights, helping you make informed decisions faster and with greater accuracy. ## Case Study: Morgans Landing Apartment Deal This is the Morgans Landing apartment deal that we will be structuring within our syndicator model. The property is a 350-unit apartment complex located in La Porte, Texas. Built in 2021, the sponsor acquired the project directly from the developer for $73.25 million with an earnest money deposit of approximately $1.5 million. ### Financing Details - Loan-to-Cost (LTC): 67% - Loan Amount: Approximately $49 million - Interest Rate: Fixed at 4.8% over a 10-year term - Amortization Schedule: 30 years - Closing Date: December 2022 ### Equity and Partnership Structure - 80% of the equity raised from investors - Remaining amount contributed by the sponsor - Partnership: 80% share for limited partners (LP) and 20% share for general partners (GP) - Preferred Return: 6% - Profit Sharing: - 100% of cash flows to investors until a 6% IRR is achieved - 70% to LP and 30% to GP until an 18% IRR is reached - 50% to LP and 50% to GP after an 18% IRR is reached - Asset Management Fee: 2% on revenues ## Underwriting the Deal We will now use this information to underwrite the deal and assess the returns investors are receiving from the property and the profit they are making. We will utilize the rent roll and trailing 12 statement documents to underwrite this deal on the InvestAssist platform. ### Steps to Underwrite the Deal 1. Log in to the InvestAssist platform. 2. Click the "Add Deal" button located in the top right corner. 3. Search for a property by entering its name or address. 4. Provide details about the property: - 350 units - Purchase price: $73.25 million - Year built: 2021 5. Save the deal to create it. 6. Upload and validate the data from the rent roll and trailing 12 documents by clicking and browsing the respective buttons provided in the app. ### Validating Rent Roll Data Once the documents are processed, we can begin validating the data: 1. Click "Review and Validate". 2. Verify that the rent roll data has been successfully extracted and standardized. 3. Compare the extracted data with the original document to ensure accuracy. 4. Complete configurations, starting with charge codes and occupancy codes. 5. Address floor plan details, including bed and bath information. 6. Generate a summary of charge codes and floor plans to match totals with the original document. 7. Mark the data as validated once all information is verified. ### Validating Trailing 12 Statement Data Next, we move on to the trailing 12 statement: 1. Process the statement on the platform. 2. Delete unnecessary columns. 3. Verify categorization of line items (income, expenses, capital expenses). 4. Correct any miscategorized items (e.g., NOI and NCF). 5. Ensure the totals match the original document. 6. Mark the data as validated once all information is verified. ## Generating the Model After validating both documents, we transition to the assumptions section: 1. Update assumptions based on underwriting notes. 2. Create multiple sets of assumptions for various scenarios. 3. Generate the model by selecting the files and clicking the "Generate Model" button. 4. Download and open the model in Excel, where all data will be populated in the right place. Thank you for watching.