REI ACCELERATOR Figure It Deal Worksheet
The document is an instructional worksheet used in the REI Accelerator program to practice underwriting multifamily real‑estate deals. It presents three separate deal scenarios, each with a defined unit mix, market rent assumptions, asking price, and estimated repair costs. For each deal, the worksheet provides blank calculation tables for: (1) Income – gross potential rent, other income ($200 per unit), vacancy allowance (8%), and resulting gross collected income; (2) Expenses – insurance ($300 per unit), taxes (2% of purchase price), utilities ($750 per unit), maintenance (8% of income), management (8% of income), and other expenses; (3) Net Operating Income (NOI) and valuation – NOI divided by a 6.5% cap rate to obtain a stabilized value, which is then multiplied by a 70% discount of the after‑repair value (ARV) to compute an all‑in price, from which rehab costs are subtracted to yield a maximum allowable offer. Each deal ends with a simple Yes/No decision prompt asking whether the numbers “work” and if the deal should be pursued. The worksheet is a template for learners to fill in the calculations and assess deal feasibility.
Topics
Deal 1: 100‑Unit 1‑Bed/2‑Bed Mixed Property Template
Provides the unit mix (40 one‑bedrooms at $600, 60 two‑bedrooms at $800), asking price of $3,250,000, and repair estimate of $700,000, along with blank income and expense tables for the learner to populate.
Deal 2: 90‑Unit Multi‑Size Property Template
Details a larger, more complex property with 48 one‑bedrooms ($800), 22 two‑bedrooms ($1,000), and 20 three‑bedrooms ($1,200), an asking price of $8,000,000, and $450,000 in repairs, accompanied by the same standardized calculation tables.
Deal 3: 65‑Unit Efficiency and 2‑Bed Mix Template
Shows a property with 30 efficiency units ($450), 10 one‑bedrooms ($550), and 25 two‑bedrooms ($650), asking price $3,000,000, repairs $195,000, and the standard worksheet for financial analysis.
Standard Income Worksheet: Gross Potential Rent and Vacancy Adjustments
A reusable table that guides the user to calculate gross potential rent based on unit counts and market rents, add other income ($200 per unit), subtract an 8% vacancy allowance, and arrive at gross collected income.
Standard Expense Worksheet: Unit‑Based Insurance, Taxes, Utilities, Maintenance, Management
Defines expense line items with per‑unit or percentage assumptions (insurance $300/unit, taxes 2% of purchase price, utilities $750/unit, maintenance 8%, management 8%) and a placeholder for other expenses, culminating in total expenses.
Financial Valuation Steps: NOI, Cap‑Rate Stabilized Value, ARV Discount, Maximum Offer
Outlines the sequence of calculations: NOI = gross collected income – total expenses; Stabilized Value = NOI ÷ 6.5% cap rate; All‑In Price = Stabilized Value × 70% (discount of ARV); Maximum Allowable Offer = All‑In Price – rehab cost. These steps are repeated for each deal.
Decision Prompt: Quick Yes/No Feasibility Check
At the end of each deal template, a binary choice asks the user to indicate whether the numbers work and if the deal should be pursued, reinforcing a simple go/no‑go decision framework.