Multifamily buyers have long sought the same benefits that office & retail buyers enjoy. The latter groups typically receive an OM and an ARGUS file for every deal that they underwrite. Multifamily buyers, on the other hand, often receive a host of .pdf files, which take time to convert into a format that they can model. There is a general consensus that standardization similar to what exists in the office and retail sectors would help facilitate deal flow and benefit everyone.
ResiModel is a new cloud-based deal management, database, and analytics platform for multifamily transactions. It provides brokers with a means of aggregating and mining the vast troves of data they receive, and enables buyers to evaluate investment opportunities, operate more profitably, and benchmark their performance against other operators.
Our powerful, cutting-edge platform was released in September 2013 and combines the flexibility of the Cloud with one of the most professional, institutional-quality underwriting models in the industry.
ResiModel currently offers two modules:
Our data component enables clients to build a master database of historical operating statements for every property that crosses their desk. Using RM-Data, clients can view and compare historical property-level data in a consistent, customizable format and compare operating metrics across similar properties.
Developed with input from over 300 leading multifamily buyers and brokers, our multifamily valuation component enables clients to generate institutional-quality underwriting at the click of a button. Using RM-Valuation, brokers can share deal information in a standardized, electronic format and obtain real-time intelligence on prospective buyers’ level of interest in the deals that they download.
What the are not.
We ARE NOT appraisers, nor do we provide any guarantees as to the accuracy of our Excel output models. All models generated by ResiModel contain formulas. We simply seek to streamline the process of building cash flow projection models in Excel. It is your responsibility to ensure you are comfortable with the calculations.
Individual deal-level data WILL NOT be accessible by other users unless you explicitly share a particular deal with a specific user or account. However, ResiModel will aggregate your data into the broader data pool, which may then be shared with other ResiModel users at a macro, non-property specific level on an anonymous basis. (Users may elect to opt-out of this data aggregation feature in their Account Settings.)
Highlights of a conversation with Elliot Vermes Founder & CEO ResiModel.
-They want to be the industry standard for multifamily valuation.
-Reduce the time that it takes to analyse a deal. Now close to 50% is wasted.
-Help develop a collaborative ecosystem.
-Harness the power of big data.
-Impressive workflow with this product
-It is strictly for the analytical part of the deal.
-Great vision with an understanding of where the product can be.
-Seasoned team and advisors from finance and commercial real estate focused on the multi-family niche.
-They think that their product is the best in market and can only get better. I like that. Find me a better one!
ResiModel. The New Standard for Managing & Mining Commercial Real Estate Data.