Underwriting a commercial real estate multi-family deal involves evaluating the financial feasibility of the investment. This process helps to determine the potential risk and return of the investment and allows the underwriter to make informed decisions about whether to move forward with the deal.

1. Review the property’s financial information: This includes reviewing the property’s income and expenses, as well as its current and potential future cash flow.
2. Determine the property’s value: This involves estimating the market value of the property based on comparable properties in the area and taking into account any unique characteristics of the property.
3. Analyze the market: This involves evaluating the local real estate market, including factors such as the current state of the economy, the demand for rental properties, and the competition from other properties in the area.
4. Evaluate the risk: This involves considering the potential risks associated with the investment, such as the risk of default or vacancy, and determining how these risks can be mitigated.
5. Determine the potential return on investment: This involves calculating the potential return on investment for the property, taking into account the potential income from the property, the costs associated with owning and maintaining the property, and any potential appreciation in value.
6. Prepare a summary report: This involves presenting the findings of the underwriting process in a clear and concise manner, including a recommendation on whether to proceed with the investment.

Underwriting a commercial real estate multi-family deal involves evaluating the financial feasibility of the investment. This process helps to determine the potential risk and return of the investment and allows the underwriter to make informed decisions about whether to move forward with the deal.