Feature · Dealmaker

The Pre-Populated Excel Underwriting Model

Every Dealmaker deal generates a real Excel workbook, already filled in with your normalized numbers. Not a blank template, your deal, ready to flex.

Underwrite a deal free See plans

See inside the model

The Summary tab: five key metrics across all three offer structures, plus the input levers — **The Summary tab.** Five key metrics for the seller's numbers and all three offer structures side by side, quick screens (1% rule, GRM, expense ratio), and the yellow input levers, purchase price, down payment, both LTVs, and rates, that drive the whole workbook.

Income and expenses shown seller-stated next to normalized, with adjusted lines flagged in gold — **Seller-stated vs normalized.** Every income and expense line, as presented and as underwritten. Gold cells flag each adjustment: a market management fee, reassessed property taxes, insurance, and the CapEx reserve the seller left at zero.

The value-add schedule and an NOI bridge from seller NOI to stabilized NOI — **Value-add and the NOI bridge.** What the seller shows, what you underwrite, and what the property stabilizes at, with each value-add initiative priced into dollars of NOI and value created.

A ten-year pro-forma with NOI, debt service, cash flow, property value and DSCR by year — **The 10-year pro-forma.** NOI growth on the value-add schedule, debt service through the refinance, cash flow, property value, and DSCR, year by year from acquisition to exit.

Refinance summary, cap-rate sensitivity, exit, and project IRR and equity multiple — **Refinance, exit, and returns.** A cap-rate sensitivity grid, the refinance that returns investor capital, the exit sale, and project-level IRR, equity multiple, and average annual return.

Your deal, already modeled

Most tools hand you a report. RVP Underwriter also hands you the model behind it: a live Microsoft Excel workbook, pre-populated with the deal's normalized income and expenses, financing, and returns. You open it and everything already ties out. No rebuilding a template from scratch at midnight before an offer is due.

What is inside

Multi-year pro-forma with income, normalized operating expenses, and NOI carried forward.
Sources and uses capturing your down payment, closing costs, and any rehab or reserves.
Two-lien financing levers, down payment, first and second loan LTVs, both rates, and a cost-of-capital row, so a Morby stack or an SBA 504 maps straight onto it.
Returns, projected IRR and equity multiple alongside cash-on-cash and DSCR.

Live, not static

It recomputes as you type. Yellow cells are inputs, override any of them and the whole workbook updates, colors included. Blue cells are linked across tabs; overtype one to decouple it. And the gold rows mark exactly the lines RVP Underwriter normalized, so you can see, and adjust, every judgment call. Type the actual R&M off last year's P&L into a gold cell and watch NOI, the offers, and the returns move.

Model the creative structures

Because the financing is fully levered, the model handles what a fixed template cannot: a zero-down stack, a seller carry in second position, an assumable first lien, closing costs rolled into the note. Set the levers and the returns follow. Learn the structures in making the offer with an LOI, then pressure-test them here.

Questions

Is it a real Excel file or a web table?

A real, downloadable Microsoft Excel workbook with working formulas across multiple tabs, not a static export. You can edit it offline, send it to a partner, or drop it into your own model.

Which cells can I change?

Yellow cells are inputs, type over any of them and the workbook recomputes live. Blue cells are cross-tab links you can overtype to decouple. Gold rows flag the lines RVP Underwriter normalized, so you can audit or adjust each one.

Which plan includes it?

The pre-populated Excel model is part of the Dealmaker plan, alongside the lender memo, investor deck, and negotiation playbook. Every plan can run the full underwriting; Dealmaker adds the document and model suite.

One of several deliverables generated from your confirmed numbers. See all features, or run a deal free.