Free forever

Stop Underwriting in Spreadsheets

The underwriting platform built for CRE pros. Full cash flow projections, JV waterfall modeling, and institutional-grade returns analysis — without the Excel headaches.

Free forever · No credit card required · Built by CRE Professionals · Bank-level encryption

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App Screenshot

The Problem with Excel

We've been there too. Here's why we built something better.

Broken formulas & circular refs

One mislinked cell cascades errors across your entire model. You spend more time debugging than analyzing.

Copy-paste template hell

Every new deal starts with "Save As" on last quarter's model. No templates, no consistency, no reusability.

v12_FINAL_FINAL.xlsx

Your inbox is full of competing spreadsheets. Nobody knows which version is current. Real-time collaboration doesn't exist.

Hours building, not analyzing

You're a deal person, not a spreadsheet engineer. Yet you spend 80% of your time formatting cells instead of evaluating investments.

Everything You Need to Underwrite

Built for CRE developers, operators, and capital partners who demand precision. Currently live for multifamily — more asset types coming soon.

Full Cash Flow Engine

Monthly projections that actually work.

  • Monthly projections with lease-up absorption
  • Custom year-by-year rent escalations — not just flat rates
  • Vacancy, concessions, and loss-to-lease modeling
  • Change one assumption, see the impact everywhere instantly
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Cash Flow Projections

Development Budget & Sources/Uses

From land to stabilization, fully tracked.

  • Detailed construction cost budgeting with templates
  • Draw schedule tied to construction timeline
  • Sources & uses with multiple capital tranches
  • Reusable budget templates for future deals
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Development Budget

JV Waterfall Structures

No more black-box Excel waterfalls.

  • Multi-tier promote with IRR hurdles
  • LP/GP splits with catch-up and lookback provisions
  • See exactly what each partner earns at every exit scenario
  • Transparent calculations you can trace step by step
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JV Waterfall

Institutional Metrics Dashboard

Everything an IC memo needs, in one place.

  • IRR, equity multiple, yield on cost, cash-on-cash, DSCR
  • KPI strip updates instantly as you model
  • Sensitivity analysis across key variables
  • Export-ready for investment committee packages
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Metrics Dashboard

Multi-Asset Support

One platform for your entire portfolio.

  • Multifamily, BTR, condo/for-sale, self storage, office, retail, industrial
  • Hospitality, mixed-use, and land entitlement
  • Tailored inputs and logic for each asset type
  • Consistent analysis framework across your portfolio
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Asset Types

Collaboration & Sharing

Kill the email chain.

  • Share with other users — accept revisions or add as alternate scenario (Team+)
  • Share deals with partners, lenders, and brokers (Team+)
  • Role-based permissions: admin, editor, viewer (Team+)
  • Change logging with full audit trail (Team+)
  • Export to PDF and Excel
  • Bank-level encryption & SOC 2-aligned security
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Sharing & Collaboration

Why Not Excel?

Side-by-side, it's not even close.

Capability
Excel
CRE Build
Real-time metric updates
Waterfall modeling
Team collaboration
Reusable templates
Multi-asset support
Version control
Mobile access
Change tracking

What's Coming Next

We're just getting started. Here's what's on the roadmap.

Team

Pipeline Tracking

Track your deal pipeline with Kanban boards, milestones, and funnel reporting

Team

Tethered Models

Linked alternate proformas that update automatically when base case changes

Team

Change Logging

Full audit trail of who changed what, with one-click reversion

Enterprise

Asset Management

Track actual performance vs. underwriting and reforecast returns

Enterprise

Package Builder

Auto-generate IC memos, equity packages, and pitch decks

Enterprise

Working Excel Export

Export fully editable .xlsx models with live formulas

Simple, Transparent Pricing

Start free. Upgrade when you're ready.

Standard

Free
$0/forever
  • Unlimited deals
  • All 9 asset types
  • Full cash flow engine
  • JV waterfall modeling
  • Development budget & sources/uses
  • Sensitivity & scenario analysis
  • Deal notes & commentary
  • Dashboard metrics & charts
  • PDF & CSV export
Get Started Free

Team

Coming Soon
$49/user/mo
  • Everything in Standard
  • Pipeline management (Kanban, milestones, deal assignment)
  • Advanced scenario analysis with shareable scenarios
  • Change logging & version reversion
  • Tethered alternate proformas (change base case → updates all)
  • Multi-proforma projects (phased developments, multiple uses)
  • Advanced waterfall & financing structures
  • Admin account & white-labeling
  • Export to formatted .xlsx & PDF
  • Share view-only access with external users

Enterprise

Coming Soon
$99/user/mo
  • Everything in Team
  • Asset management & reforecasting
  • Full working .xlsx export (editable formulas)
  • Package builder (equity packs, IC memos, pitch decks with photos & maps)
  • SSO & advanced security
  • Dedicated onboarding

AI Agent

Add-on
Coming Soon
  • AI-assisted underwriting (type or speak deal parameters)
  • AI deal analysis & risk assessment
  • Comp research & market analysis
  • Permit database research
  • Intelligent assumptions from deal context
  • Works with any tier

Ready to ditch the spreadsheet?

Start underwriting smarter today. Free forever.

Get Started Free

No credit card required