In this episode, Dylan Vaccaro demonstrates Deal Queue, his AI-powered underwriting platform that transforms the grueling 2-3 hour underwriting process into a streamlined 10-15 minute workflow. Through a live demonstration, Dylan shows how the tool parses rent rolls, T-12s, and offering memorandums from PDFs and Excel files, automatically populating custom financial models while flagging common seller manipulations like miscategorized expenses. Angel emphasizes that underwriting should be treated as a living business plan rather than just an LOI tool, while both discuss the critical importance of human verification—AI assists but never replaces the underwriter's judgment. The conversation covers conservative underwriting assumptions, the difference between T-1, T-3, and T-12 statements, and why calculating cap rates on total invested capital matters more than purchase price alone.

[00:00 - 05:00] Introduction to Deal Queue

• How Deal Queue reduces underwriting from 2-3 hours to 10-15 minutes

• The platform extracts data and populates custom Excel models automatically

• Built-in models available for beginners learning multifamily underwriting

[05:01 - 10:00] Live Platform Demonstration Begins

• Upload process for rent rolls, T-12s, and offering memorandums

• How the system handles both PDF and Excel formats seamlessly

• Pricing structure: $30/month for preset models, $175/month for custom integration

[10:01 - 16:00] The Data Parsing Challenge

• Why manual data entry traditionally consumes hours of underwriting time

• The importance of organizing deal files in a centralized pipeline

• Angel's insight: underwriting is your business plan, not just an LOI tool

[16:01 - 20:00] Verification and Expense Analysis

• How Deal Queue flags suspicious expense categorizations that inflate NOI

• Live example: identifying CapEx items misclassified as below-the-line expenses

• Why plumbing, utilities, and appliance repairs shouldn't be one-time expenses

[20:01 - 24:00] Conservative Underwriting Principles

• Dylan's default assumptions: 5% vacancy and 2-3% annual growth rates

• Understanding T-1 vs. T-3 vs. T-12 financial statements for lending

• Why cap rates should be calculated on total invested capital, not just purchase price

[24:01 - 25:15] The Human Element in AI Underwriting

• Angel's warning: always back-check AI outputs—no tool does everything

• Regional expertise and market knowledge remain irreplaceable

• How increased deal volume (6-7 daily vs. 1-2) improves acquisition probability

Connect with Dylan: https://www.linkedin.com/in/dylan-vaccaro-4450b9140/
Deal Queue Website: dealq.ai

Key Quotes:

"Your underwriting is your business plan. It's just not always looked at that way." - Angel Williams

 

 

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