Analyzing Deals: How Rob Beardsley is Underwriting in Uncertain Times | REM #155

Analyzing deals and underwriting can be extremely daunting. Many people consider underwriting an art, though there is a lot of analysis and numbers involved. This part of the active investing process can take some time to learn, but it’s one of the most critical aspects of sourcing deals. Learning how to underwrite multifamily properties is a challenge in any stage of the market cycle. However, when there is a heightened level of uncertainty, there is even more pressure on an underwriter to ensure they are making defensible assumptions and taking a conservative approach to their projections. Underwriting isn’t impossible, but it can take time to learn. It also helps to learn from an expert, which is exactly why we brought on Rob Beardsley as a guest. Rob Beardsley oversees acquisitions and capital markets for Lone Star Capital and has acquired over $300M of multifamily real estate. He has evaluated thousands of opportunities using proprietary underwriting models and published the number one book on multifamily underwriting, The Definitive Guide to Underwriting Multifamily Acquisitions. In today’s conversation, Rob dives into the fundamentals of underwriting. He discusses how he vets his markets, the best advice for a new investor wanting to learn how to underwrite, and some overall market knowledge that can provide context to an underwriter’s assumptions. He also drops some gems relating to how he stress tests his underwriting, and his views on the current debt market. This episode is packed with knowledge from one of the leading underwriting thought leaders in the multifamily space, so make sure to tune in! Connect with Rob: Website: www.lscre.com Linkedin: http://linkedin.com/in/rob-beardsley/ The Definitive Guide to Underwriting Multifamily Acquisitions Book: https://www.amazon.com/gp/product/B087114QRT/ref=dbs_a_def_rwt_bibl_vppi_i0 If you want to download our FREE 5 Mistakes New Investors Make Playbook, go to www.donisinvestmentgroup.com/playbook. Follow Us: @donisbrothers on Instagram, Twitter, Facebook @Donis Investment Group on Linkedin Website –  www.donisinvestmentgroup.com