Best AI Underwriting Software?
Looking into systems to make our UW process more automated (multifamily acquisitions). Looking into Cactus, Primer, RedIQ, AcquiOS. Any experience with any, or other services?
Thanks
Excel
Chiming in - ClaudexExcel is great for MF.
For office, industrial, or retail though, Excel/AI doesn't handle lease/recoveries modelling well. Anyone have tried platforms like Minervian AI or frame cast? How do they compare to Argus?
Claude Excel is great, it’s very smart. We have also tried Minervian AI; super fast. Especially for financing and waterfalls, you can tell it to change to whatever structure/cap stack you want and it updates the whole structure in like 15 seconds.
I’d say Claude Excel is more flexible with any ad hoc analysis, but I’ve never seen any tools that builds financing and waterfalls in seconds like this
Please do not pump your crap software - you can clearly tell based on your new account and history you're trying to gas your own product.
We have very tightly designed excel models and use the Claude excel plugin for the grunt work. Also use Claude for a lot of the grunt work on Argus builds.
Most of the UW platforms are fine at one narrow job and weak at everything else. The real time sink in multifamily UW is not the model itself. It is getting the rent roll and T12 out of messy PDFs and into a format you can actually underwrite.
What has worked for us is using an AI tool to extract the T12 and rent roll into a clean table, then checking every number against the source PDF before it goes anywhere near the model. The extraction is where you save hours. The modelling and the assumptions are still your job, and no tool is going to do the unit level analysis for you.
We learned this the hard way. We stopped letting analysts feed full deal packages straight to the model after a principal caught that the AI had pulled in two months of pro forma revenue as actuals. It looked completely plausible. That is the risk with all of these tools. The output is confident and wrong in ways you will not catch unless you audit it.
Argus and PropertyMetrics
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