I underwrite to institutional standard, with assumptions tied to defensible data, so your read reflects confidence and competence, whether you fund or pass.
From $3,500, paid upfront. IC-ready in 5 business days, or your money back.
The model and the IC memo, on a sample deal.
ASSET CLASSES
Multifamily first; condo, office, retail and mixed-use by scope.
WHAT YOU GET
The Model. Comprehensive Memo.
One call with the sponsor, broker or seller, set up through you, if you want me to walk through the deal disconnects.
One free structural revision: if the deal itself changes within 30 days — price, structure, or capital stack — I'll update the model.
The Model: the deal summary exhibit, on a sample deal.
The Memo: underwriting, returns and risks, on a sample deal.
KNOW BEFORE YOU WIRE
One deal. A firm price before you start.
from$3,500
The Underwrite, paid upfront
5
Business days to IC-ready
Refund
In full if it is not IC-ready
Paid upfront, fully refundable if it is not IC-ready. No hourly surprises. Complex deals (heavy value-add, ground-up, condo, intricate capital stacks) scope up from here.
Not sure if the deal warrants a full underwrite? Start here.
START WITH A SCREEN
The Deal Screen
$1,500
2 business days
The $1,500 credits toward a full underwrite if you decide to move forward.
Details
Send the deal package you were handed: the OM, the financials, the rent roll, and any other docs you have. I highlight the red flags and determine whether the headline returns actually hold up. You get a clear read on whether the deal is worth pursuing further, in 2 business days. $1,500, paid upfront, same money-back standard. Already built a model? I pressure-test your assumptions as well.
When the model is the problem.
FIX THE MODEL YOU HAVE
The Model Audit
$1,250
5 business days
The $1,250 credits in full toward The Model of the same deal or template within 30 days.
Details
Send me the underwriting model you already use. I audit it to institutional standard, fix the bugs, and add the enhancements your committee needs. It comes back with a change log you can hand a lender, in 5 business days from the day the model and payment are in. $1,250, paid upfront. If the work is not committee grade, it is on me.
WIRE THE MODEL YOU HAVE
Wire
$2,000
5 business days
The $2,000 credits in full toward The Model within 30 days.
Details
If you would rather have it done: I instrument one of your models so AI reads every assumption by name, audit it, and prove it on one of your live or past deals with the numbers pulled into memo excerpts, every figure traced to the model. Five business days from the day the model and payment are in. Half up front, half on delivery. If I cannot get it to an institutional standard, it is on me.
BUILD THE MODEL YOU NEED
The Model
from$2,500
10 business days
Yours outright, with the export layer built in and ready to connect later.
Details
A new underwriting model, built to institutional standard for your deal type or your firm's template, with the export layer built in so it is ready to connect to your reporting when you want it. You own it outright. In 10 business days from the day the scope is set and payment is in. From $2,500, paid upfront. If the work is not committee grade, it is on me.
WHEN THE QUESTIONS COME
Investors and committees drill into your deals.
Walk me through the rent growth. Why should we believe it?
Can the demographic around this property afford these rents?
What happens to my capital if occupancy slips?
Four ways to get this deal underwritten. One survives your IC.
The sponsor's model
A junior or stretched associate
A fractional marketplace
The Underwrite
Independent from the seller
No
Yes
Yes
Yes
Defensible to your IC
Hopefully
Hopefully
Hopefully
Yes
Data-backed assumptions
No
Maybe
Maybe
Yes
The work is the founder's
-
No
No
Yes
Delivered in 5 business days
-
Varies
Varies
Yes
A firm price before you start
-
No
No
Yes
YOUR RISK: NONE
IC-ready, on time, or your money back.
I deliver the initial underwrite within 5 business days. If it needs work to be ready for your IC, I revise it until it is. If it genuinely cannot be brought to a standard you would put in front of your investment committee, you get a full refund.
Most consultants understand deals but cannot build infrastructure. Most developers build infrastructure but cannot explain a waterfall. Alpha exists to do both in the same conversation: the diagnosis in deal language, the build to institutional standard.
Joshua has spent over 7 years building solutions across commercial real estate, structured finance, and Corporate and Investment Banking, including the data and analytics platforms behind institutional investment teams at NYMT, Barings, and Wells Fargo. That combination, deal judgment and the systems underneath it, is the firm.
150+ deals, $3.5B+ in deal value, underwritten at NYMT. Analytics built at every stop. I know deals and the data behind them.
Previously New York Mortgage Trust · Barings · Wells Fargo
Send me the deal. Get an independent read.
Fifteen minutes to scope it. A firm price before you commit a dollar. IC-ready work or your money back.
The Screen is a fast, senior read of the deal package, delivered in 2 business days. It tells you where the red flags are and whether the deal is worth taking further, for $1,500. The Underwrite is the full, IC-ready independent analysis: the model, the market-backed assumptions, the memo you put in front of your investment committee, and one call with the sponsor or seller, delivered in 5 business days, from $3,500. Most people start with the Screen and move to the Underwrite on the deals that clear it, and the $1,500 Screen fee credits toward the Underwrite of that deal.
You pay in full upfront, and I carry the risk. The initial underwrite is delivered IC-ready, sourced and defensible, within 5 business days of receiving your deal package — the OM, the T12 and the rent roll. If anything falls short of that standard, I revise it at no extra cost until it is right. That revision covers my work, never your sponsor's documents changing. If the work genuinely cannot be brought to a standard you would put in front of your investment committee, you get a full refund. The guarantee covers the quality of the work, not whether the deal turns out to be one you want to do. An honest no is the work doing its job.
That is The Model Audit. Send me the model you already use and I audit it to institutional standard, fix the bugs, and add the enhancements your committee needs. It comes back in 5 business days with a change log you can hand a lender, for $1,250. If it turns out the model is not worth repairing, that $1,250 credits in full toward The Model: a new one built for your deal type or your firm's template, with the export layer built in, delivered in 10 business days, from $2,500.
Yes. An NDA is available on request, and your documents are never shared.
The Underwrite starts at $3,500 for a standard single-asset underwrite, delivered in 5 business days. Heavier lifts (a major value-add or reposition, ground-up development, condo, or an intricate capital stack) scope up from there in both price and timeline, based on the actual work. You get the exact price and turnaround before anything begins, so there are no surprises. Bring the deal to the call and you will leave with a firm number.
Yes. Portfolios are scoped to the work involved, so let's talk it through on the call. You will leave it with a firm number before anything begins.
Your underwrite does not wait on anyone, and it does not stall when the package disagrees with itself. Source documents often conflict, since the OM, the model, and the rent roll get built at different times and do not always tie. I underwrite on the package as delivered, set defensible base assumptions where the inputs conflict, and deliver in 5 business days. The memo says which numbers stand on a document and which stand on an assumption, and anything that cannot be confirmed is flagged as an open diligence item for you to resolve before you commit. If a corrected document lands within two business days of delivery, I fold it into the model and memo at no charge — that is a data refresh, not a revision, so neither the guarantee nor your free structural revision is spent. A document that arrives materially later is a second pass, and I will quote it before doing it.
The Underwrite is an independent third-party underwrite of a single commercial real estate deal, delivered IC-ready in five business days, from $3,500. Alpha CRE Solutions does not raise capital, does not broker, and holds no position in the deal, so the opinion is independent of the outcome.
