Underwrite from your own model
Bring your rent roll, T12, leases and acquisition model. The platform organizes the deal room and maps the inputs into your workbook, ready for your team to review.
Levered IRR
Equity multiple
Avg cash-on-cash
Unlevered IRR
Going-in cap
Exit cap
Operating pro forma
| $ / year | Yr 1 | Yr 2 | Yr 3 | Yr 4 | Yr 5 |
|---|---|---|---|---|---|
| Gross potential rent | 2,088,000 | 2,150,640 | 2,215,159 | 2,281,614 | 2,350,062 |
| Vacancy and credit loss | (125,280) | (129,038) | (132,910) | (136,897) | (141,004) |
| Effective gross income | 1,962,720 | 2,021,602 | 2,082,250 | 2,144,717 | 2,209,059 |
| Operating expenses | (824,000) | (844,600) | (865,715) | (887,358) | (909,542) |
| Net operating income | 1,138,720 | 1,177,002 | 1,216,535 | 1,257,359 | 1,299,517 |
| Debt service | (695,175) | (695,175) | (695,175) | (695,175) | (695,175) |
| Levered cash flow | 443,545 | 481,827 | 521,360 | 562,184 | 604,342 |
Assumptions
from your model
Property and operating
Financing and exit
Your assumptions, your line items, and the outputs your committee already reads.
Illustrative model surface with synthetic data. Calculations follow your configured workbook; this preview is not interactive.
One process, three chapters
From deal room to investment case
Upload documents in the platform or forward them to Cole when email is easier. Keep the inputs, model and review together in one deal record.
A structured deal, ready to review.
Organize the rent roll, operating statements and leases. Extract the relevant fields, check them against your criteria and flag missing or uncertain inputs.
Your model. Your assumptions.
Map inputs into your acquisition workbook. Review the assumptions and compare occupancy, financing or exit scenarios using your model’s calculation logic.
Reviewed analysis becomes decision material.
Prepare the memo, teaser or investor presentation from the reviewed case. Your team checks the assumptions and evidence before sharing or making a decision.
Drop it in
- Rent roll.xlsx412 KB
- T12 statement.pdf1.1 MB
- Offering memo.pdf8.4 MB
- Leases (14).zip22 MB
Map to your workbook
- Avg in-place rent
Assumptions!B7
- Unit count
Assumptions!B4
- Vacancy
Assumptions!B9
- OpEx by line
OpEx!C4:C19
3 of 4 mapped
Read the output
- First screenPass
- Pro forma5 yr
- IC memoDraft
Every figure links to the page it was read from.
Intake, modelling and investment review in one connected workflow.
Illustrative workflow with synthetic documents. Scope and outputs are configured with your firm.
Why it is auditable
Keep the source beside the number
Extracted fields retain a document and page reference so your team can check the inputs. Missing or uncertain data stays visible before the case is approved.
Source document · page 3
RENT ROLL, as of 30 Jun
| Unit | Type | Rent | Term |
|---|---|---|---|
| A-101 | 2BR / 1BA | 1,395 | 12 mo |
| A-102 | 2BR / 1BA | 1,450 | 12 mo |
| A-103 | 1BR / 1BA | 1,150 | MTM |
| B-201 | 3BR / 2BA | 1,795 | 24 mo |
| B-202 | 2BR / 1BA | 1,425 | 12 mo |
Extracted fields
- Unit count120
read from p.1, header
- Avg in-place rent$1,450
read from p.3, col. D
- Lease term, B-20124 months
read from p.3, row 4
- Vacancy at scan6.0%
read from p.1, summary
Each field, its value, and the page reference it was read from.
Synthetic extraction. Page references are in the real format.
Apply the workflow
How do deal documents become inputs in your underwriting workbook?
NextAutomation’s underwriting workflow connects source documents, analyst review and the acquisition model. Map each proposed input to the cell or schedule it belongs to, keep the source reference and approve changes before using the resulting scenario.
- 01Trace the source
- 02Approve the input
- 03Recalculate the scenario
Keep the path from the original document to the accepted model input visible.
| Input | Mapping decision | Review output |
|---|---|---|
| Rent roll | Match unit or suite identity and reporting date | Reconciled occupancy and rent schedule, with missing rows flagged. |
| Operating statement | Match account categories and the modeled period | Source totals, approved adjustments and unresolved differences. |
| Debt terms | Distinguish indicative assumptions from accepted terms | Financing scenario with a stated basis and version. |
| Investment memo | Use the reviewed model and its accepted assumptions | Recommendation supported by the model, with remaining questions visible. |
For a fictional file, the rent roll is dated September while the T-12 ends in August. Preserve both dates. Reconcile the period difference before treating a change in rent as growth, and keep any provisional explanation outside the accepted input column.
Put the review process through a worked example
After accepting the inputs, run the Excel formula-change exercise to expose hardcoded outputs and verify the expected effect of a changed assumption.
Reproduce the NOI bridge with the T-12 adjustment register exercise and inspect accepted changes separately from the pending tax scenario.
Start with the rent-roll reconciliation practice packet to test period matching, duplicate rows and unsupported explanations.
The underwriting model-builder pack organizes accepted inputs and unresolved assumptions around the model handoff.
Watch the investment committee memo walkthrough for a public example of the downstream document workflow.
Questions about underwriting
Do we have to change our model?
Can we compare scenarios?
What can it read?
How does Cole work over email?
Does it make the investment decision?
Can we start with underwriting only?
See it run on one of your own deals.
Bring a deal room and your acquisition model. Review how the inputs, assumptions and investment case connect.