Underwriter/Analyst for Commercial Real Estate

Must have at least one year of experience underwriting and analyzing commercial real estate property.

Must have deep understanding of underwriting models (could be an excel sheet, a model that you constructed yourself, or a purchased software).

Must know how to assess if a property is good for investment and investors. This includes familiarity with the following:
o Understand valuation techniques and Cap Rate.
o Be able to quickly analyze rent rolls.
o Analyze financial statements and figures (operating income, operating expenses, and profitability).
o Be capable of casting projections for capital improvements and property upgrades.
o Be able to quickly determine DSCR, CoC Return, IRR, ideal hold time for property, and disposition projections.
o Must understand appreciation and real estate tax benefits.
o Be able to compare subject property to other similar properties (in same zip code).
o Here is an example statement that you should fully understand as an example: "This is a multifamily value-add acquisition with immediate cash flow, projected 15% average cash on cash return, 2.3X multiple at 5 years, bonus depreciation through cost segregation, and high teens IRR."

Must understand real estate syndications and funds, the differences of each, and how each are operated.

Must be resourceful enough to do lite research on the current property owner’s background, and history with a particular property. Also must be resourceful enough to research local tax rates, and other potential economic factors that could impact the profitability of an investment property.

Know what features to look for on a subject property given age, geography, local demographics, population data, and job market.

These are the key skills you need in order to succeed as a commercial real estate underwriter:
o Aptitude for mathematics and financial analysis.
o Able to exercise good judgment.
o Great attention to detail and organization.
o Software skills – extremely familiar with underwriting software and spreadsheets.
o Great communication and interpersonal skills.
o Be able to provide reasons and justification for how a property was analyzed.