SummarizeAudio guide
7 min audioGuide audio is available on paid plans.
AI mentor mode
Chat with your AI mentor about this lesson
Ask lesson-specific questions. The mentor explains terms and examples from the guide, generates practice scenarios, and keeps the full lesson in context.
Cash needed is more than the down payment
Most first deals feel affordable until closing costs, reserves, repairs, utility setup, inspection fees, lender reserves, and vacancy buffers show up. Estimate the full cash stack before deciding whether a property fits.
Use ranges instead of false precision early. A realistic cash-needed estimate should show the base case, the stress case, and the point where the deal would make you undercapitalized.
Related tools
Related guides
Move from capital estimate to numbers
Use the first underwriting lesson to test whether the deal still works.
Run first underwriting