Best Way to Find A Reliable Cap Rate

What is the best way to, you know, find a reliable cap rate when underwriting specific deals? I'm gonna give you 2 answers. The most reliable version is reaching out to a local lender. They've seen all of the recent appraisals go through. They will have a pulse on what cap rate is being used on appraisal for your deal better than anyone else. The next best is brokers. They're still gonna see a lot of transaction stuff. When you're doing your general underwriting, this is answer to your question part 2. ChatGPT has a ton of data or any other AI you can use. Claude. If you're doing a basic underwriting, you're not submitting an offer yet, you're trying to get a feel for market. Use AI, get a feel. What you're going to put into it is the year it was built, the class that you believe it is, A, B, or C, and the unit count, because you'll see different valuations between those. So I would put in the address, say I'm looking at this property, it is a 40-unit building built in 1960. I believe this is a true Class C multifamily building. What are we seeing for cap rates in this area? That would give you enough to do your initial underwrite and gives you really good baseline data.