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Jason Williams built his underwriting system so a user could import a rent roll and T12, push a button, and have about 90 percent of the work completed. Then the Excel model became so complex that sharing it with other people created a new problem.
Jason explains how that frustration led him to create a web based underwriting app that uses AI to read an OM, rent roll, and T12 and fill in much of the information automatically.
The conversation also goes inside Jason’s own real estate portfolio. He talks openly about being the lead sponsor on two multifamily properties, including one that is doing very well and another that is taking most of his attention.
Dave and Jason also dig into a new manufactured home community Jason is developing near Waco, Texas. The 18 acre project is planned for about 100 homes, but a zoning issue and a pre annexation agreement delayed construction and forced Jason and his partners into negotiations with the city.
Key topics and takeaways:
- Why Jason is currently focused on improving an existing multifamily property instead of buying more
- The zoning issue affecting his planned 100 home manufactured home community
- How his chemical engineering background shaped the way he builds underwriting systems
- How he learned multifamily underwriting after entering apartment syndication in 2017
- Why his Excel model eventually became difficult for clients to use
- How his new web app uses AI to process an OM, rent roll, and T12
- Why Ironclad Underwriting Mastery grew from people asking Jason for help
Guest information:
Jason L. Williams, Ph.D. has been involved in real estate for more than 20 years. He entered multifamily investing in 2017 after meeting his mentor, Joe Fairless.
Jason is involved in multifamily properties, single family homes, smaller residential multifamily properties, and the development of a manufactured home community in Central Texas.
He also hosts the Ironclad Underwriting Podcast with his business partner Frank Patalano.
Website:
ironcladunderwriting.com
Resources mentioned:
- Ironclad Underwriting Podcast
- Ironclad Underwriting newsletter
- Free underwriting resources
- Ironclad underwriting web app
Call to action:
Visit ironcladunderwriting.com to find Jason’s resources, podcast, and newsletter.
Jason said his newsletter is sent twice a month, on the first and the fifteenth.
You can also sign up through the site to become a beta tester for his underwriting web app. At the time of the conversation, the app was in open beta and free to use.
