How are people avoiding deal merge? I am the primary underwriter for my shop for new deals, and I am also starting to work through the LIHTC application on 2 separate deals. While I take good notes, when people ask me questions and I don't have my model in front of me, I have no idea what is happening. What do people typically do to get around this?
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Based on the most helpful WSO content, here are some strategies to avoid deal merge and stay organized:
Detailed Note-Taking: Continue taking comprehensive notes, but ensure they are structured and easily accessible. Use a consistent format for all deals to make it easier to find information quickly.
Centralized Documentation: Store all your notes, models, and key documents in a centralized, easily accessible location. This could be a shared drive, cloud storage, or a dedicated project management tool.
Deal Summaries: Create a one-page summary for each deal that includes key metrics, timelines, and critical information. This can serve as a quick reference when you don't have your full model in front of you.
Regular Updates: Schedule regular updates and reviews of your deals. This can help keep the information fresh in your mind and ensure you are up-to-date with the latest developments.
Delegation: If possible, delegate some of the tasks to team members. This can help distribute the workload and allow you to focus on the most critical aspects of each deal.
Use of Technology: Utilize technology tools such as CRM systems, project management software, or specialized real estate software to track and manage deals efficiently.
Communication: Maintain clear and open communication with your team. Regular check-ins and updates can help ensure everyone is on the same page and reduce the risk of confusion.
By implementing these strategies, you can better manage multiple deals simultaneously and reduce the risk of deal merge.
Sources: https://www.wallstreetoasis.com/forum/real-estate/how-is-anyone-getting-deals-done?customgpt=1, Multifamily Deals are Starting to Fall Out, What's happening during live deals?, Q&A: Affordable Housing Acquisitions, Multifamily Deals are Starting to Fall Out
Everyone gets deal merge, but if you "have no idea what is happening" then it sounds like you aren't fully engaging and taking ownership of your underwriting. It's acceptable to have the general story but get deal merge on a metric or two, but to be completely lost isn't
Deal merge is inevitable friend. If you have time, try making summaries of each deal and revisit them during your downtime.
The key is for the market to go to shit so you only have 1-2 deals going at one time instead of 4-5. Super effective at keeping things straight that way.
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