Podknife - RE #81: Chris Powers - How to Underwrite an Industrial Deal & Create Investment Memos LP’s Love by The FORT with Chris Powers

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RE #81: Chris Powers - How to Underwrite an Industrial Deal & Create Investment Memos LP’s Love

Podcast |: The FORT with Chris Powers
Publisher |: Chris Powers
Media Type |: audio
Podknife tags |: Business,; Interview,; Investing,; Real Estate
Categories Via RSS |: Business,; Business News,; Entrepreneurship,; Investing,; News
Publication Date |: Oct 21, 2020
Episode Duration |: 00:36:45

On this episode, Fort Capital CEO Chris Powers outlines the underwriting process on industrial deals from start to finish making it simple to understand whether you’re green or a seasoned veteran. This episode will provide an outline for how these deals get done and the mistakes that a lot of people make along the way so you can deal smarter in the future. Enjoy! For more on Underwriting, visit the Fort Capital website here. Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers & Fort Capital: www.FortCapitallp.com (01:07) - What is Underwriting? (02:14) - Variables that Contribute to the Value in Underwriting (02:40) - Market, Demographic and their Respective Trends (03:50) - Purchase Price (04:15) - Expenses (05:04) - Modeling Expenses Out in a 5-Year Model (05:21) - Taxes & Insurance (06:15) - Tenants (07:03) - Where Rent is Today vs. the Market Rate (07:59) - Tenant Renewal Probability (09:55) - Current Vacancies (10:42) - Capital Expenditure Requirements (11:44) - Tenant Improvement Costs (12:26) - Underwriting the Capital Structure & Refinance Scenarios (13:49) - What does an exit scenario look like? (15:15) - Things People Miss and Mistakes We’ve Missed Along the Way (18:45) - How Fort Capital Thinks About the Process of Doing a Deal (19:59) - How Long the Underwriting Process Should Take (20:42) - Where We Get Most of Our Data (21:12) - Where does information live when underwriting? How is it communicated to the team & non-team? (22:58) - Final Thoughts on Underwriting (23:58) - Writing an Investment Memo (25:10) - What We Think about Presenting in Our Memos (26:12) - Reasons to Acquire (26:38) - Location Overview (27:09) - The Property Itself (27:35) - Tenant Overview (28:10) - Sources and Uses of Funds (29:02) - Financial Summary & What Investors Can Expect in Return (30:22) - Partnership Terms (31:48) - Models & Return Summary (32:17) - Property Photos & Market Map (33:02) - Conclusion & Free Resources from Fort Capital The FORT with Chris Powers is produced by Straight up Podcasts

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