# Real Estate Analyzer

> Adaptive multi-agent system for real estate investment analysis — deal screening, underwriting, pro forma modeling, financing strategies, tax optimization, stress testing, syndication structuring, and international deals. Use when user asks to "analyze a property", "run an underwriting model", "pro forma analysis", or mentions cap rate, NOI, cash-on-cash return, DSCR, 1031 exchange, syndication, hotel investment, international real estate, or investment documents.

- Skill: `lauraflorentin/real-estate-analyzer` (Agent Skill)
- Install (CLI): `npx skillmds@latest add lauraflorentin/real-estate-analyzer`
- Raw SKILL.md: https://api.skillmd.com/api/skills/lauraflorentin/real-estate-analyzer/raw
- Safety review: pending
- Works with: Claude Code, Claude.ai, OpenAI Codex
- Category: AI & ML
- Author: lauraflorentin (https://skillmd.com/u/lauraflorentin)
- Updated: 2026-09-17
- Page: https://skillmd.com/skills/lauraflorentin/real-estate-analyzer

---


# Real Estate Investment Analyzer v2.1
## Adaptive Multi-Agent Analysis System

This skill uses an **adaptive orchestrator** that classifies each deal and deploys the right combination of specialist agents. You don't need to pick which skill to use — describe the deal and the orchestrator handles routing.

## Quick Start

**User says anything about a real estate investment → Read the Orchestrator first:**
```
view → ../../agents/orchestrator.md
```

The Orchestrator will tell you which specialist reference files to read based on the deal type.

## Architecture

```
                        ┌─────────────────────┐
                        │    ORCHESTRATOR      │
                        │  (../../agents/orchestrator.md) │
                        │                     │
                        │  1. Classify deal    │
                        │  2. Select agents    │
                        │  3. Sequence work    │
                        │  4. Synthesize output│
                        └──────────┬──────────┘
                                   │
                    ┌──────────────┼──────────────┐
                    │              │              │
              ┌─────▼─────┐ ┌─────▼─────┐ ┌─────▼─────┐
              │  CORE      │ │ EXPANDED   │ │ SYNTHESIS  │
              │  AGENTS    │ │ AGENTS     │ │ AGENTS     │
              │            │ │            │ │            │
              │ A1 Research│ │ A8 Syndic. │ │ A12 Report │
              │ A2 Screen  │ │ A9 Int'l   │ │   Compiler │
              │ A3 Underwr.│ │ A10 Hospit.│ └────────────┘
              │ A4 ProForma│ │ A11 Legal  │
              │ A5 Finance │ └────────────┘
              │ A6 Tax     │
              │ A7 Stress  │
              └────────────┘
```

## Agent → Reference File Map

| Agent | Reference File | Use When |
|-------|---------------|----------|
| A1 Research Scout | *(uses web search tools)* | Always — gather market data first |
| A2 Deal Screener | `../../agents/deal-screener/reference.md` | Quick pass/fail filtering |
| A3 Property Underwriter | `../../agents/property-underwriter/reference.md` | Full financial analysis |
| A4 Pro Forma Builder | `../../agents/pro-forma-builder/reference.md` | Multi-year projections |
| A5 Financing Analyzer | `../../agents/financing-analyzer/reference.md` | Loan comparison & leverage |
| A6 Tax Strategist | `../../agents/tax-strategist/reference.md` | Depreciation, 1031, cost seg |
| A7 Stress Tester | `../../agents/stress-tester/reference.md` | Scenario analysis |
| A8 Syndication Analyzer | `../../agents/syndication-analyzer/reference.md` | SPV, fund, passive deals |
| A9 Int'l Risk Assessor | `../../agents/international-risk-assessor/reference.md` | Cross-border investments |
| A10 Hospitality Underwriter | `../../agents/hospitality-underwriter/reference.md` | Hotels, resorts, STRs |
| A11 Legal Reviewer | `../../agents/legal-reviewer/reference.md` | Document red flags |
| A12 Report Compiler | `../../agents/orchestrator.md` (synthesis section) | Final recommendation |
| — Data Sources | `../../agents/data-sources/reference.md` | API lookups, batch screening, market data |

## Routing Quick Reference

| Deal Type | Route | Agents |
|-----------|-------|--------|
| Domestic rental (SFR/MF) | Route 1 | A1→A2→A3→A5→A6→A7→A12 |
| Commercial property | Route 2 | A1→A2→A3→A4→A5→A7→A12 |
| Fix-and-flip | Route 3 | A1→A2→A3→A5→A12 |
| Domestic syndication | Route 4 | A1→A8→A3→A4→A7→A6→(A11)→A12 |
| International direct | Route 5 | A1→A9→A2→A3→A4→A5→A7→A12 |
| Int'l hospitality syndication | Route 6 | A1→A9→A10→A8→A11→A3→A4→A7→A12 |
| REIT / public market | Route 7 | A1→A8(partial)→A12 |

## Execution Instructions

### Step 1: Read the Orchestrator
Always start by reading `../../agents/orchestrator.md`. It contains the classification logic and routing rules.

### Step 2: Classify the Deal
Use the Orchestrator's classification matrix to determine:
- Property type, strategy, geography, stage, complexity
- Which route (1-7) applies, or create a custom route

### Step 3: Read Required Reference Files
Read ONLY the reference files for agents selected by the Orchestrator. Don't read all files for a simple rental analysis.

### Step 4: Execute Each Agent's Analysis
Follow each reference file's framework. Pass outputs forward where agents depend on prior results (e.g., A10 Hospitality outputs feed into A3 Underwriter).

### Step 5: Compile the Report
Use the Orchestrator's synthesis template to produce the final Investment Analysis Memo.

## Default Assumptions (When User Doesn't Specify)

### Domestic (US) Defaults
| Parameter | Default | Source |
|-----------|---------|--------|
| 30-yr fixed rate | 6.11% | Freddie Mac, Feb 2026 |
| Vacancy (residential) | 7% | National average |
| Vacancy (office) | 18% | National average |
| Expense ratio (residential) | 45% | Industry standard |
| Expense ratio (NNN commercial) | 15% | Industry standard |
| Rent growth | 2.5%/year | Long-term average |
| Expense growth | 2.5%/year | Inflation proxy |
| Exit cap premium | +0.50% over entry | Conservative |
| Closing costs | 3% of purchase | Investment property avg |
| CapEx reserve | $400/unit/year (MF), 8% gross (SFR) | Industry standard |
| Management fee | 8% SFR, 6% small MF, 5% large MF | Market rates |
| Land allocation | 20% (for depreciation) | Standard |
| Conforming limit | $832,750 | 2026 FHFA |
| Depreciation | 27.5yr residential, 39yr commercial | IRS |
| Bonus depreciation | 100% (OBBBA, July 2025) | Current law |

### International / Hospitality Defaults
| Parameter | Default | Notes |
|-----------|---------|-------|
| OTA commission | 20% | Booking.com/Expedia average |
| Hospitality management fee | 3-5% base + 10-15% incentive | Standard; >20% of net rev is high |
| Hospitality OpEx ratio | 50-60% of revenue | Luxury resort |
| Ramp-up Year 1 | 55% of stabilized RevPAR | New property |
| Ramp-up Year 2 | 75% of stabilized RevPAR | Building reputation |
| Ramp-up Year 3 | 90% of stabilized RevPAR | Approaching stabilization |
| FF&E reserve | 4% of revenue | Hospitality standard |
| Leasehold discount | See int'l risk assessor | Varies by years remaining |
| FX risk premium | +3-5% required return | Emerging market |
| International risk premium | +2-5% required return | Jurisdiction dependent |

### Bali-Specific Defaults
| Parameter | Default | Notes |
|-----------|---------|-------|
| Ownership structure | PT PMA with HGB title | Most secure for foreigners |
| Min. investment plan (PMA) | IDR 10 billion (~$600K) | Per KBLI, BKPM Reg 5/2025 |
| Min. paid-up capital (PMA) | IDR 2.5 billion (~$150K) | New 2025 reduced threshold |
| Market-wide ADR (Bali STR) | $178/night | 2025 average; luxury top 10% = $539+ |
| Occupancy (Bali average) | 66% | Higher in Seminyak/Canggu, lower in emerging |
| WHT on dividends (standard) | 20% | Reducible to 5-15% via DTAA |
| Corporate income tax | 22% | Standard PT PMA rate |
| IDR long-term depreciation | ~3%/year vs EUR/USD | 10-year historical average |
| Active-use deadline (HGB) | 2 years | PP 18/2021; idle land reverts to state |

### Mexico/Tulum-Specific Defaults
| Parameter | Default | Notes |
|-----------|---------|-------|
| Ownership structure | Fideicomiso (bank trust) | Required in Restricted Zone (coastal) |
| Fideicomiso setup cost | $1,500-2,500 USD | One-time |
| Annual trust fee | $500-1,000 USD | Ongoing |
| ISABI (acquisition tax) | ~3.0% | Municipality-dependent |
| Lodging tax | 6.0% | Remitted via Airbnb or directly |
| ISR (non-resident income tax) | 25% gross or 35% net | 35% net preferred with legal rep |
| Capital gains (non-resident) | 25% gross or 35% net | Mexico has primary taxing right |
| Tulum resale discount | 3-15% below asking | 2026 buyer's market |
| Ejido land risk | VERIFY ALWAYS | #1 cause of investment loss in region |

## Benchmark Targets (Quick Reference)

| Metric | Acceptable | Good | Excellent |
|--------|-----------|------|-----------|
| Cash-on-Cash Return | 6–8% | 8–12% | 12%+ |
| Cash Flow per Door | $100/mo | $150–200/mo | $300+/mo |
| DSCR | 1.20x | 1.25–1.35x | 1.50x+ |
| Break-Even Occupancy | <85% | <80% | <75% |
| Equity Multiple (5-yr) | 1.5x | 1.7–2.0x | 2.0x+ |
| IRR (Value-Add) | 12% | 15% | 18%+ |
| GRM | 8–10 | 5–7 | 4–5 |
| GOP Margin (Luxury Hotel) | 35% | 40-45% | 50%+ |
| RevPAR Index | 90 | 100-110 | 120+ |

## Cap Rate Benchmarks (2025-2026)

| Property Type | Average | Range |
|---------------|---------|-------|
| Multifamily | 5.9% | 3.9–7.6% |
| Industrial | 6.4% | 5.2–7.7% |
| Retail | 6.7% | 5.0–9.1% |
| Self-Storage | 6.2% | 5.3–7.6% |
| Office | 7.4% | 4.6–10.5% |

## Output Principles

1. **Show all math** — every number should be traceable to inputs and formulas
2. **Flag issues prominently** — red flags get their own section, not buried in text
3. **Compare to benchmarks** — every metric compared to industry standards
4. **Recommend next steps** — don't just analyze, tell the user what to DO
5. **State assumptions** — every assumption clearly labeled and justified
6. **Provide ranges** — when uncertain, give best/base/worst estimates
7. **Caveat legal content** — always note that legal review is not legal advice
8. **Integrate with tools** — use xlsx skill for calculators, docx for reports, web search for market data
9. **Generate code when asked** — provide Python/JS calculators, batch scripts, or API integration code; reference `../../agents/data-sources/reference.md` for API patterns and `../../agents/stress-tester/reference.md` for Monte Carlo templates
10. **Match output format to need** — narrative for reports, tables for comparisons, code for automation, spreadsheets for interactive analysis

## Integration with Other Skills

- **xlsx skill**: Create downloadable calculator spreadsheets with the analysis
- **docx skill**: Generate formatted investment memos and due diligence reports
- **pptx skill**: Create investor presentation summaries
- **web search**: Research market data, sponsor track records, comparable properties
- **pdf skill**: Extract and analyze uploaded prospectuses and legal documents