“We send the client… six valuations from six different banks… sometimes there's like 30% discrepancy… can instantly go and pull out more equity and invest again”
PN
Pat Noll
Equity Mates Investing Podcast ·
Frank Patilano · Ironclad Underwriting Podcast · Two Underwriters, One Deal: Why Real Estate Valuations Differ
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Observed valuation swings from different underwriters
$1-2 million differences on the same deal
“We send the client… six valuations from six different banks… sometimes there's like 30% discrepancy… can instantly go and pull out more equity and invest again”
“I had to switch accountants last year… one accountant… $350,000… another said I owed $40,000… got me back $40,000… $80,000 swing.”
“That's a $175 billion valuation… only two big producers… they have a big partnership with Blue Origin… valuation is super cheap”
“They sell the shrimp for about a dollar a pop to anybody who wants to swing by and pick some up.”
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