Has anyone here underwritten a ground-up modular construction deal?

Hi guys,

Currently faced with a situation at work where I have to underwrite a ground up development deal for a workforce housing project in CA. Having trouble coming up with the Hard Costs / Module Costs - Does anyone have any insight they can share on how to come up with assumptions for hard costs?

106 WSO Academy Real Estate Session Reviews: 4.91/5

Class of '29 Sep 2026 Cohort

5.00/5

Real Estate Career Roadmap (optional)

“Nick was extremely informative and gave me a lot of solid and practical advice. He answered all of my questions clearly and thoughtfully. I really appreciated that he gave me an actionable plan for how to approach recruiting and developing my career in general. He was very open about sharing his own experiences. He also gave me helpful perspective on how to differentiate myself during the recruiting process and make my conversations with professionals more meaningful. I feel like I have a clearer understanding of what I should focus on and concrete next steps. This was overall a helpful and valuable conversation. ”

Class of '28 Aug 2026 Cohort

5.00/5

Real Estate Mock Interview

“Nick was fantastic. He didn’t just glance at my resume and give me generic advice—he explained exactly why it wasn’t telling the story I wanted it to tell, then helped me figure out how to fix it. He pushed me to be more intentional about how I talk about my experience and gave me concrete steps to prepare for interviews, from tailoring my resume to practicing financial modeling. I also appreciated how candid he was. When I asked about real estate capital markets versus sales and trading, he gave me his honest opinion while being clear about his own perspective. He shared interview guides, answered all my questions, and offered to do a more detailed mock interview if I move forward with JLL. I left with a lot of work to do, but also a much clearer idea of how to do it. I’d absolutely recommend talking with Nick.”

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Has anyone here underwritten a ground-up modular construction deal?

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Has anyone here underwritten a ground-up modular construction deal?

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