Viking Capital
VIKING CAPITAL was founded in 2015 and has become a premiere multifamily investment boutique with agile investment sourcing¸ structuring¸ execution and
asset management capabilities. The company has transacted on over $600M in assets and currently manages over 4800 multifamily housing units.
Challenges
- Viking already has a 2-step Underwriting process handled by separate outsourced analysts, creating delays, communication gaps, and issues relating to roles and responsibilities. To reach its target, Viking needs to streamline its deal flow by optimizing the existing Underwriting Process.
- The current model requires manual entries, leading to a lengthy Underwriting process for each deal.
- Difficulty in scaling operations and managing growth while maintaining quality and consistency in work.
Solution
You can plan to expand your team with RealVal. By having us as your back-office, you can start with a single analyst and gradually expand to a
larger team as you need to meet growing demands and reach your goal.
Step 1: Allocating multiple analysts for their respective needs
As the first step, RealVal assigned 2 specialized analysts, one for quick passes and another for full Underwritings. This allocation helped to improve
communication, eliminate delays and clarify roles and responsibilities, leading to a more streamlined and efficient process. Having dedicated analysts for quick
passes and full Underwritings, helped them with increased efficiency and quality control. This process helps them scale operations with quality control.
Step 2: Streamlining the existing Underwriting Process
We initiated improvements to their existing Underwriting model by introducing automation to reduce manual errors and streamline the process. In 2022, our
team successfully underwrote over 800 deals for Viking, including quick passes and full Underwritings, with clear summaries of the deals' outcomes. This
enabled the Viking to better communicate with brokers and make informed decisions.
Step 3: Optimize Data Management by building a Customized Acquisitions Dashboard
To further streamline the process and maximize efficiency, we developed a custom acquisitions dashboard to provide Viking with valuable insights into their
deal flow which help them focus on the most productive brokers and areas. The dashboard helps them identify bottlenecks by enabling them to easily look at
each deal’s stage, whether it’s under quick pass, full underwriting, LOI, B&F, or closed. By tracking their progress and analyzing the outcomes of their deals,
the client can set targeted goals and measure their progress towards achieving them.
Partnering with us allowed Viking to focus on other important tasks within their acquisitions and asset management processes, such as up-leveling their
broker relationships. All this led to the successful closing of 5 deals, exceeding Viking Capital's initial targets.
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