🏘️ Real Estate · Deal Analysis

Underwrite a rental property in one pass

Income, expense reality, financing, and downside cases producing a defensible go/no-go.

intermediate~40 minAgentsInvestorsProperty Managers

Steps

1Verify income with leases + market rents, not seller pro-forma
2Budget expenses honestly: taxes, insurance, capex reserves, vacancy allowance
3Model financing at TODAY's rates plus 100bps stress
4Compute cash-flow after ALL costs; ignore appreciation in year-1 math
5Run downside case: vacancy doubles, major capex hits — survivable?
6Write investment thesis memo; if you can't defend it, pass

Common Pitfalls

▲Seller pro-formas accepted as underwriting
▲Capex 'surprises' that any roof/HVAC inspection predicted

Commands

Install with skills CLI

$ npx skills add aniruddhaadak80/skills --skill deal-analysis-property-underwriting-checklist

Install globally

$ npx skills add aniruddhaadak80/skills --skill deal-analysis-property-underwriting-checklist -g

Tags

#underwriting#rentals#analysis#real-estate#deal-analysis

Install this skill

$ npx skills add aniruddhaadak80/skills --skill deal-analysis-property-underwriting-checklist -a opencode

SKILL.md

# Underwrite a rental property in one pass

> Income, expense reality, financing, and downside cases producing a defensible go/no-go.

## When to Use This Skill

Income, expense reality, financing, and downside cases producing a defensible go/no-go.

## Steps

1. Verify income with leases + market rents, not seller pro-forma
2. Budget expenses honestly: taxes, insurance, capex reserves, vacancy allowance
3. Model financing at TODAY's rates plus 100bps stress
4. Compute cash-flow after ALL costs; ignore appreciation in year-1 math
5. Run downside case: vacancy doubles, major capex hits — survivable?
6. Write investment thesis memo; if you can't defend it, pass

## Common Pitfalls

- Seller pro-formas accepted as underwriting
- Capex 'surprises' that any roof/HVAC inspection predicted

View source on GitHub ↗

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