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Faith-Based Underwriting Meets Excel Crimes Unit

Broker: 'Pro forma is conservative' Excel: IFERROR(IF(DSCR>=1.25,'we're fine','lol'),'excel crimes unit notified') Lender: please explain $0 TI/LC on a 1984 office Me: it's called faith-based underwriting šŸ™ƒšŸ“Š

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Expectation: 1.30x DSCR | Reality: Excel Says LOL

Expectation: 6% exit cap, 3-yr IO, DSCR 1.30 ā€” lender says easy button Reality: Excel unmerges one cell; DSCR 1.09; taxes jump post-sale; please add $850k TI/LC Client: can we bump rents 18%? Me: sure

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When Your 1.35 DSCR Meets the Lender's Tiny Stress Test

Proforma: DSCR 1.35 and a 6 cap ā€” living the dream Lender after 'small' stress test: taxes + insurance + reserves = 0.99 Client: just 'optimize NOI' and still hit 65% LTV šŸ™‚ Me at 2:12am: doing INDEX/

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