Multi-Family Acquisitions Excel Test
Does anyone have an example of what an excel test for a multi-family investment shop (ex. Equity, GID, Avalon) would be like? Or an example would be helpful
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Took a test recently. The gave me the rent roll and all the various trending assumptions. For the debt they gave the rate, amortization, and DSCR limit on the debt and asked me to size the loan. Make sure you set up your inputs nicely and make the pro forma dynamic. When we test candidates I hate it when they burry the assumptions as hard coded values.
You also need to be comfortable with calculating the remaining principal on the loan for exit analysis. Every test I have taken only ask for one holding period scenario, but bonus points if you know how to make it dynamic.
They then gave a discount rate and asked me to come up with the value of the property. (Debt plus sum of PV of CFADS)
They then gave me another bid price and asked what the IRR would be on that. A good way to check these two answers is your IRR should equal the discount rate if you use the value you came up with as the purchase price in that calculation.
Good luck.