15d • General discussion
Tip #2
Doing 34+ hours of training straight this week non-stop so dropping 34 tips:Tip #2: Exit Underwriting on Morby Method
When you underwrite an exit, you are not underwriting today’s deal.
You are underwriting a future refinance event under conservative lending terms.
That means three things must be modeled together — not separately:
1. Conservative annual appreciation
2. Realistic refinance LTV
3. Your total future debt stack
Most people only look at #1 and #3.
They completely ignore #2 — and that’s where deals break. Just because you have a lender that will give you 90% LTV right now, does not mean that will exist in the future so you SHOULDN'T BANK ON IT. Underwriting guidelines change all the time and you can't underwrite the deal based on the most aggressive LTV that one lender out of 1,000 is willing to give you in today's market.
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Tip #2
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