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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <loc>https://www.tacticares.com/blog-feed/vacancy-rates-and-multifamily-supply-pipelines</loc>
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    <lastmod>2026-03-28</lastmod>
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      <image:title>Blog - Vacancy Rates Just Hit Multi-Year Highs in These 25 Metros: The Supply Pipeline Behind It - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Blog - Vacancy Rates Just Hit Multi-Year Highs in These 25 Metros: The Supply Pipeline Behind It - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Blog - Vacancy Rates Just Hit Multi-Year Highs in These 25 Metros: The Supply Pipeline Behind It - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <loc>https://www.tacticares.com/blog-feed/americas-labor-force-migration-trends</loc>
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    <lastmod>2026-03-27</lastmod>
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      <image:title>Blog - America's Labor Force Is Reshuffling: The Metros Winning and Losing Workers in 2026 - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Blog - America's Labor Force Is Reshuffling: The Metros Winning and Losing Workers in 2026 - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Blog - America's Labor Force Is Reshuffling: The Metros Winning and Losing Workers in 2026 - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Blog - America's Labor Force Is Reshuffling: The Metros Winning and Losing Workers in 2026 - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <loc>https://www.tacticares.com/blog-feed/analyzing-us-metros-with-multifamily-rent-decline</loc>
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    <lastmod>2026-03-28</lastmod>
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      <image:title>Blog - The 25 U.S. Metros Where Rents Are Still Falling: What It Means for Multifamily Investors - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Blog - The 25 U.S. Metros Where Rents Are Still Falling: What It Means for Multifamily Investors - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <loc>https://www.tacticares.com/blog-feed/a-cre-analysts-opinion-on-claude-in-excel-building-a-proforma-model</loc>
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    <lastmod>2026-02-05</lastmod>
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      <image:title>Blog - A CRE Analyst’s Opinion on Claude in Excel: Building a Proforma Model - Make it stand out</image:title>
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      <image:title>Blog - A CRE Analyst’s Opinion on Claude in Excel: Building a Proforma Model - Make it stand out</image:title>
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      <image:title>Blog - A CRE Analyst’s Opinion on Claude in Excel: Building a Proforma Model - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Blog - A CRE Analyst’s Opinion on Claude in Excel: Building a Proforma Model - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <loc>https://www.tacticares.com/blog-feed/modeling-inclusionary-zoning-units-in-market-rate-multifamily-development</loc>
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    <lastmod>2025-11-18</lastmod>
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      <image:title>Blog - Modeling Inclusionary Zoning Units in Multifamily Market-Rate Development - Make it stand out</image:title>
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      <image:title>Blog - Modeling Inclusionary Zoning Units in Multifamily Market-Rate Development - Make it stand out</image:title>
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      <image:title>Blog - Modeling Inclusionary Zoning Units in Multifamily Market-Rate Development - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <loc>https://www.tacticares.com/blog-feed/7-rookie-multifamily-underwriting-mistakes-to-avoid</loc>
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    <lastmod>2024-09-26</lastmod>
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      <image:title>Blog - 8 Rookie Multifamily Underwriting Mistakes to Avoid - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Blog - 8 Rookie Multifamily Underwriting Mistakes to Avoid - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Blog - 8 Rookie Multifamily Underwriting Mistakes to Avoid - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Blog - 8 Rookie Multifamily Underwriting Mistakes to Avoid - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Blog - 8 Rookie Multifamily Underwriting Mistakes to Avoid - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Blog - 8 Rookie Multifamily Underwriting Mistakes to Avoid - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Blog - 8 Rookie Multifamily Underwriting Mistakes to Avoid - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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    <loc>https://www.tacticares.com/blog-feed/real-estate-investing-with-rising-interest-rates</loc>
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    <lastmod>2024-09-26</lastmod>
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      <image:title>Blog - Real Estate Investing with Rising Interest Rates - Make it stand out</image:title>
      <image:caption>Source: fred.stlouisfed.org</image:caption>
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      <image:caption>Source: fred.stlouisfed.org</image:caption>
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    <changefreq>monthly</changefreq>
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    <lastmod>2025-11-14</lastmod>
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      <image:title>Blog - Risks in Using SOFR Forward Curve for Rate Projections - Make it stand out</image:title>
      <image:caption>Source: NewYorkFed.org</image:caption>
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      <image:caption>Source: Pensford, LLC</image:caption>
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      <image:caption>Source: Pensford, LLC</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/8c12a233-ab45-45bb-9864-cbd42c3a1fff/%239.jpg</image:loc>
      <image:title>Blog - IRR For Real Estate Development</image:title>
      <image:caption>Present value of investment appreciation.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/47a3c1a7-2c50-4d60-8bdd-1c88da38f399/%2310.jpg</image:loc>
      <image:title>Blog - IRR For Real Estate Development</image:title>
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      <image:title>Blog - IRR For Real Estate Development</image:title>
      <image:caption>Present value of loan paydown.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/51075ed9-1554-47ae-8507-aad84f4092fa/%2313.jpg</image:loc>
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      <image:title>Blog - IRR For Real Estate Development</image:title>
      <image:caption>Total cash flows.</image:caption>
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      <image:title>Blog - IRR For Real Estate Development</image:title>
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  <url>
    <loc>https://www.tacticares.com/blog-feed/back-of-the-envelope-apartment-analysis-template</loc>
    <changefreq>monthly</changefreq>
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    <lastmod>2024-09-26</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/202b5ace-36a3-440d-8f21-3ea30ade07ce/Back+of+the+envelope.png</image:loc>
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  <url>
    <loc>https://www.tacticares.com/blog-feed/analyzing-and-underwriting-rent-concessions</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-02-18</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/10bfc4da-8f07-459f-b920-1e0047d820ea/a2%232.jpg</image:loc>
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  </url>
  <url>
    <loc>https://www.tacticares.com/blog-feed/a-real-estate-investors-guide-to-rent-concessions</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-02-18</lastmod>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/99de23b2-b6c6-482e-bf17-9fb5f26d4d61/a1+%231.jpg</image:loc>
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  <url>
    <loc>https://www.tacticares.com/blog-feed/multifamily-real-estate-market-research-template</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2026-03-28</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1608507942354-YS9XHG5BF6QN5NSV4R99/Laptop+Market-research-tempalte.png</image:loc>
      <image:title>Blog - Multifamily Real Estate Market Research Template</image:title>
    </image:image>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/66732839-6aa6-4f27-a2ef-7df0e6ecfef6/%231.JPG</image:loc>
      <image:title>Blog - Multifamily Real Estate Market Research Template</image:title>
      <image:caption>Labor statistics summary free template.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/dd3d11d7-f522-4436-81b7-c184cfa7c2d3/%232.JPG</image:loc>
      <image:title>Blog - Multifamily Real Estate Market Research Template</image:title>
      <image:caption>Multifamily fundamentals section free template.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/a99295cd-d827-414b-834f-d4499e9ef4f4/Dashboard+Link.png</image:loc>
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  </url>
  <url>
    <loc>https://www.tacticares.com/blog-feed/optimizing-multifamily-operating-expense-underwriting</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-02-18</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1593023573996-S5D4IDWGVJMQMEGOLPAE/%231.JPG</image:loc>
      <image:title>Blog - Optimizing Multifamily Operating Expense Underwriting</image:title>
      <image:caption>Summary of property attributes for property ABC</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1593023623300-MPZD8M5JR3XT5LU6IB4Y/%232.JPG</image:loc>
      <image:title>Blog - Optimizing Multifamily Operating Expense Underwriting</image:title>
      <image:caption>Excel formula bar with a reference to the source underwriting workbook</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1593024104257-LKTE9H418QGJ7136VDU0/%233.JPG</image:loc>
      <image:title>Blog - Optimizing Multifamily Operating Expense Underwriting</image:title>
      <image:caption>four properties with their operating expenses summarized by various categories.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1593024126447-TLKI96FV5RJ2896UA6DU/%234.JPG</image:loc>
      <image:title>Blog - Optimizing Multifamily Operating Expense Underwriting</image:title>
      <image:caption>Expense data has been converted into a table.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1593024153288-E49EAKJU13NNV2DYOEX9/%235.1.JPG</image:loc>
      <image:title>Blog - Optimizing Multifamily Operating Expense Underwriting</image:title>
      <image:caption>Table has an additional column summing all the expense categories of each property.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1593024170465-P8D8MKDS9AOY46MLGG2N/%235.JPG</image:loc>
      <image:title>Blog - Optimizing Multifamily Operating Expense Underwriting</image:title>
      <image:caption>Expense table being referenced to create a pivot table.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1593024193212-P7PUU6VFCQBDYXKP34KA/%236.JPG</image:loc>
      <image:title>Blog - Optimizing Multifamily Operating Expense Underwriting</image:title>
      <image:caption>How to create a pivot table and where to place it.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1593024223643-IRDM1TEW20G82U0HMZWR/%237.JPG</image:loc>
      <image:title>Blog - Optimizing Multifamily Operating Expense Underwriting</image:title>
      <image:caption>Pivot Table Fields</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1593024240009-WKOIHP4ZDBRPKE99H67C/%238.JPG</image:loc>
      <image:title>Blog - Optimizing Multifamily Operating Expense Underwriting</image:title>
      <image:caption>Pivot table results: Expenses by property class (A,B,C).</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1593024255179-FYC4DP2KGCZCQ2M7XXPP/%239.JPG</image:loc>
      <image:title>Blog - Optimizing Multifamily Operating Expense Underwriting</image:title>
      <image:caption>Pivot table fields.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1593024270865-XEOY0JQXE67ZFWV4TAWA/%2310.JPG</image:loc>
      <image:title>Blog - Optimizing Multifamily Operating Expense Underwriting</image:title>
      <image:caption>Pivot table results: Monthly insurance expense by property type (A,B,C).</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1593024334299-STFLY75ZXIRJQXYH5P69/%2311.JPG</image:loc>
      <image:title>Blog - Optimizing Multifamily Operating Expense Underwriting</image:title>
      <image:caption>Pivot table fields.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1593024359151-PIHNMW8GLD5DF8NW11RH/%2312.JPG</image:loc>
      <image:title>Blog - Optimizing Multifamily Operating Expense Underwriting</image:title>
      <image:caption>Pivot table results: Utility expense for properties greater than 100 units.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1599868161787-Z40SKUQ69CSFA1UOJ8BI/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Optimizing Multifamily Operating Expense Underwriting</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.tacticares.com/blog-feed/properly-analyzing-the-irr-in-real-estate-investing</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-06-14</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1613335244970-KT2ZNBWYJ8RY8HHTPEUZ/%231.JPG</image:loc>
      <image:title>Blog - Properly Analyzing the IRR in Real Estate Investing</image:title>
      <image:caption>5-year investment hold cash flow.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1613335349798-HG7W4F4TQCHUX5MVM3FC/%232.JPG</image:loc>
      <image:title>Blog - Properly Analyzing the IRR in Real Estate Investing</image:title>
      <image:caption>Present value of initial investment recovery.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1613335606222-VDRZCFJYRD8O3REQZ8A7/%233.JPG</image:loc>
      <image:title>Blog - Properly Analyzing the IRR in Real Estate Investing</image:title>
      <image:caption>Present value of Year 1 cash flow.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1613335745569-8KITCTV3O7NZLR550R1L/%234.JPG</image:loc>
      <image:title>Blog - Properly Analyzing the IRR in Real Estate Investing</image:title>
      <image:caption>Present value of cash flow growth.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1613335788220-XJIEODD7G8TH4WXS4PDH/%235.JPG</image:loc>
      <image:title>Blog - Properly Analyzing the IRR in Real Estate Investing</image:title>
      <image:caption>5-year cash flow.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1613335905306-HUR52E1JGTJEE534NAIQ/%236.JPG</image:loc>
      <image:title>Blog - Properly Analyzing the IRR in Real Estate Investing</image:title>
      <image:caption>Present value of appreciation.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1613336623478-4OV49Z0PUS9XYBTWDQWM/%2314.jpg</image:loc>
      <image:title>Blog - Properly Analyzing the IRR in Real Estate Investing</image:title>
      <image:caption>5-year cash flow with emphasis on loan payoff.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1613336674041-TNC96KUYGAULVNJ5GJUG/%238.JPG</image:loc>
      <image:title>Blog - Properly Analyzing the IRR in Real Estate Investing</image:title>
      <image:caption>Present value of principal paydown.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1613336761732-05NRQZQK1FDPZFO0JVIH/%239.JPG</image:loc>
      <image:title>Blog - Properly Analyzing the IRR in Real Estate Investing</image:title>
      <image:caption>Allocation of IRRs.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1613336881705-3VK1M4PDYB55WC2UYHE9/%2310.JPG</image:loc>
      <image:title>Blog - Properly Analyzing the IRR in Real Estate Investing</image:title>
      <image:caption>Allocation of IRRs in a pie chart.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1613336997099-DZH8YL72RM3CIXI8GYL5/%2311.JPG</image:loc>
      <image:title>Blog - Properly Analyzing the IRR in Real Estate Investing</image:title>
      <image:caption>Different 5-year cash flow also with a 15.29% IRR.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1613337052792-V67N1M3YKLXSR2903AV7/%2312.JPG</image:loc>
      <image:title>Blog - Properly Analyzing the IRR in Real Estate Investing</image:title>
      <image:caption>Allocation of IRRs.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1613338824577-VLM1S8IQJHZGW1I47IMS/%2313.JPG</image:loc>
      <image:title>Blog - Properly Analyzing the IRR in Real Estate Investing</image:title>
      <image:caption>Dual pie charts of allocation of IRRs.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1613337641892-EPZFWHNSLU4Z84MU8MX2/%2315+%281%29.jpg</image:loc>
      <image:title>Blog - Properly Analyzing the IRR in Real Estate Investing</image:title>
      <image:caption>IRR allocations-10-year-hold.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1599871744168-3UFVPAPXUTVZB5HRVCD2/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Properly Analyzing the IRR in Real Estate Investing</image:title>
      <image:caption>Tactica free development Excel template displayed on laptop.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.tacticares.com/blog-feed/yield-on-cost-metric-in-real-estate</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-09-26</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/ad44adc2-14e3-42b1-8359-3afc158a0f99/%231.jpg</image:loc>
      <image:title>Blog - Yield on Cost Metric in Real Estate: A Hidden Gem - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/18415494-77b9-46c2-adf2-2cbb48ddd9cc/%232.jpg</image:loc>
      <image:title>Blog - Yield on Cost Metric in Real Estate: A Hidden Gem - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/59eb9cbb-ba21-4291-8f6f-1044027df901/%233.jpg</image:loc>
      <image:title>Blog - Yield on Cost Metric in Real Estate: A Hidden Gem - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/e3fdd4a6-f01f-4960-9c9e-0ac213ce3281/%234.jpg</image:loc>
      <image:title>Blog - Yield on Cost Metric in Real Estate: A Hidden Gem - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/e0ac044a-f3dd-436a-9b07-9f31fb835a85/%235.jpg</image:loc>
      <image:title>Blog - Yield on Cost Metric in Real Estate: A Hidden Gem - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/a930d659-c126-470a-93cf-b68df753d628/%236.jpg</image:loc>
      <image:title>Blog - Yield on Cost Metric in Real Estate: A Hidden Gem - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/cc8abf52-6e6e-4474-8d2c-c769057a1c7d/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Yield on Cost Metric in Real Estate: A Hidden Gem - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.tacticares.com/blog-feed/budgeting-for-capital-expenditures-in-multifamily-acquisitions</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-06-14</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594689037608-4RQP341HUXZBEQ7RZ17I/%231.JPG</image:loc>
      <image:title>Blog - Budgeting for Capital Expenditures in Multifamily Acquisitions</image:title>
      <image:caption>Sources &amp; Uses Summary</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594689079001-USV3BKV3SQO3FEVQZY0Z/%232.JPG</image:loc>
      <image:title>Blog - Budgeting for Capital Expenditures in Multifamily Acquisitions</image:title>
      <image:caption>5-Year IRR when capital is invested up-front from investors.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594689186653-B1XAV4A9W2FEWESMXEYK/%233.JPG</image:loc>
      <image:title>Blog - Budgeting for Capital Expenditures in Multifamily Acquisitions</image:title>
      <image:caption>Sources &amp; Uses when CAPEX is paid with cash flow.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594689229915-ZL134QLTIH9MSAEPV5UI/%234.JPG</image:loc>
      <image:title>Blog - Budgeting for Capital Expenditures in Multifamily Acquisitions</image:title>
      <image:caption>5-Year IRR when CAPEX is funded by cash flow.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1599870362222-XM4K0HJ7Y8Q5569I1PZD/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Budgeting for Capital Expenditures in Multifamily Acquisitions</image:title>
      <image:caption>Tactica free multifamily Excel template displayed on laptop.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.tacticares.com/blog-feed/do-apartment-developers-have-an-underwriting-blind-spot</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2023-12-28</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/5ebd8c03-5af3-4157-989b-e45dfa8be856/%231.jpg</image:loc>
      <image:title>Blog - Do Apartment Developers Have an Underwriting Blind Spot?</image:title>
      <image:caption>Lease-up summary.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1b20cf40-17d6-4654-9027-2e6c3068d7fe/%232.jpg</image:loc>
      <image:title>Blog - Do Apartment Developers Have an Underwriting Blind Spot?</image:title>
      <image:caption>Projected IRR with no tax adjustment.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1c94897c-d7a5-4f32-b541-92c3bed32542/%233.jpg</image:loc>
      <image:title>Blog - Do Apartment Developers Have an Underwriting Blind Spot?</image:title>
      <image:caption>Stabilized apartment RE tax projection.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/09e20e92-8ee6-427a-b704-bf908130795f/%234.jpg</image:loc>
      <image:title>Blog - Do Apartment Developers Have an Underwriting Blind Spot?</image:title>
      <image:caption>Adjusting NOI to account for property tax exposure.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/632ffbea-883f-45ac-8064-a450b88ff007/%235.jpg</image:loc>
      <image:title>Blog - Do Apartment Developers Have an Underwriting Blind Spot?</image:title>
      <image:caption>Adjusted sale proceeds when factoring real estate tax exposure.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/b51df000-bafc-4d08-8827-d185aa233511/%236.jpg</image:loc>
      <image:title>Blog - Do Apartment Developers Have an Underwriting Blind Spot?</image:title>
      <image:caption>Adjusted IRR and equity multiple with tax-adjusted cap rate.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/22b4dedc-67f8-4380-b12e-6de67175b589/%237.jpg</image:loc>
      <image:title>Blog - Do Apartment Developers Have an Underwriting Blind Spot? - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/4dc58e6b-c714-4b78-86d2-f4d1235a5fd3/%239.jpg</image:loc>
      <image:title>Blog - Do Apartment Developers Have an Underwriting Blind Spot? - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/c73d3409-e6e5-44a6-9900-b71926e1015a/%2310.jpg</image:loc>
      <image:title>Blog - Do Apartment Developers Have an Underwriting Blind Spot? - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/3f172e90-3b69-4013-9538-7e32f1e9b196/%238.jpg</image:loc>
      <image:title>Blog - Do Apartment Developers Have an Underwriting Blind Spot?</image:title>
      <image:caption>Bar chart showing tax-adjusted cap rates by year.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1599871661732-V9PX25Z3AA7TF5TGCXJO/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Do Apartment Developers Have an Underwriting Blind Spot?</image:title>
      <image:caption>Tactica free development Excel template displayed on laptop.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.tacticares.com/blog-feed/distribution-waterfalls-in-multifamily-investment</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-05-15</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594684147505-P9VRL4Q4XGZXUQAE1X3A/%231.JPG</image:loc>
      <image:title>Blog - Distribution Waterfalls in Multifamily Investment</image:title>
      <image:caption>Contributions and IRR hurdles with corresponding profit interests.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594684208317-YIH0V89FZMH4EA9HK5W0/%232.JPG</image:loc>
      <image:title>Blog - Distribution Waterfalls in Multifamily Investment</image:title>
      <image:caption>Project sells for $1,080,000 at the end of Year 1 to produce an 8% IRR.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594684284404-RWGJ9QMTDFRY7VIO7KP3/%233.JPG</image:loc>
      <image:title>Blog - Distribution Waterfalls in Multifamily Investment</image:title>
      <image:caption>Project sells for $1.15 million and achieves 2nd hurdle.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594684345716-7ZA3N5PZJMJ287Q7VLET/%234.JPG</image:loc>
      <image:title>Blog - Distribution Waterfalls in Multifamily Investment</image:title>
      <image:caption>Year 1 ledger.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594684403211-QGAU1H1A8PCQ1XRGPEBE/%235.JPG</image:loc>
      <image:title>Blog - Distribution Waterfalls in Multifamily Investment</image:title>
      <image:caption>Projects sells for $1.25 million at the end of Year 1 and achieves 3rd hurdle.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594684518097-J92Y22T3RCQGOZQAG0EX/%236.JPG</image:loc>
      <image:title>Blog - Distribution Waterfalls in Multifamily Investment</image:title>
      <image:caption>Year 3 ledger.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594684566369-MEV4PR01FQ2YPENVM7S2/%237.JPG</image:loc>
      <image:title>Blog - Distribution Waterfalls in Multifamily Investment</image:title>
      <image:caption>Hurdles 1,2, and 3 for project and LP.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594684671110-953LIWM1EDJDG1LZV6R5/%238.JPG</image:loc>
      <image:title>Blog - Distribution Waterfalls in Multifamily Investment</image:title>
      <image:caption>Profit interests for GP and LP</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594684897609-UQ9OG9KUMPU028P2RW2O/%239.JPG</image:loc>
      <image:title>Blog - Distribution Waterfalls in Multifamily Investment</image:title>
      <image:caption>Differences between a profit interest and promote structure.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594684987210-0UOHKCT96N8CS1HRY2KK/%2310.JPG</image:loc>
      <image:title>Blog - Distribution Waterfalls in Multifamily Investment</image:title>
      <image:caption>Total distributions and returns between GP and LP over a 5-year hold.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594685062090-VWQPN6M9Q8FUQS4LYOL8/%2311.JPG</image:loc>
      <image:title>Blog - Distribution Waterfalls in Multifamily Investment</image:title>
      <image:caption>IRR waterfall ledger breaking down account balance, required return, distributions, and cash flow leftover for each year.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594685162288-EB20ZM2R08EWM88ZZ63T/%2312.JPG</image:loc>
      <image:title>Blog - Distribution Waterfalls in Multifamily Investment</image:title>
      <image:caption>IRR waterfall ledger breaking down account balance, required return, distributions, and cash flow leftover in Year 1.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594685204031-N65X8LDBEYGHKRIXQZRA/%2313.JPG</image:loc>
      <image:title>Blog - Distribution Waterfalls in Multifamily Investment</image:title>
      <image:caption>IRR waterfall ledger breaking down account balance, required return, distributions, and cash flow leftover in Year 4.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594685237801-WPZMLQY8ELRDMTCJ0PLV/%2314.JPG</image:loc>
      <image:title>Blog - Distribution Waterfalls in Multifamily Investment</image:title>
      <image:caption>IRR waterfall ledger breaking down account balance, required return, distributions, and cash flow leftover in Year 5.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594685375470-L17CAHJMJKXP0V0X49LU/%2315.JPG</image:loc>
      <image:title>Blog - Distribution Waterfalls in Multifamily Investment</image:title>
      <image:caption>Excel chart visualizing the IRR hurdles and distributions.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1599870289703-YPVIN1SANFY39QGFFN9B/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Distribution Waterfalls in Multifamily Investment</image:title>
      <image:caption>Tactica free multifamily Excel template displayed on laptop.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.tacticares.com/blog-feed/multifamily-development-4-critical-stress-tests</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-02-24</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594778640823-X40YW5C89NSFJ82ZNGUU/%231.JPG</image:loc>
      <image:title>Blog - Multifamily Development: 4 Critical Stress Tests</image:title>
      <image:caption>DSCR stress test toggling vacancy and projected rent.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594778718064-9OVOKAXQELHD8MM60V06/%232.JPG</image:loc>
      <image:title>Blog - Multifamily Development: 4 Critical Stress Tests</image:title>
      <image:caption>Refinance Proceeds stress test toggling cap rate and stabilized EGI.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594778808323-01O68Y6C1DGSF298M9PZ/%233.JPG</image:loc>
      <image:title>Blog - Multifamily Development: 4 Critical Stress Tests</image:title>
      <image:caption>Lease-Up stress test toggling leases per month and pre-lease percentage.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594778881258-ATDCQ4X5Z4RZYBYSC7B2/%234.JPG</image:loc>
      <image:title>Blog - Multifamily Development: 4 Critical Stress Tests</image:title>
      <image:caption>Return on Cost stress test toggling stabilized NOI and construction cost.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1599870523632-2T7GY8NQKRTQE76EHKQ0/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Multifamily Development: 4 Critical Stress Tests</image:title>
      <image:caption>Tactica free development Excel template displayed on laptop.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.tacticares.com/blog-feed/properly-analyzing-cash-on-cash-returns-in-real-estate-investing</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2023-12-28</lastmod>
    <image:image>
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      <image:title>Blog - Properly Analyzing Cash-on-Cash Returns in Real Estate Investing</image:title>
      <image:caption>Cash on cash return formula with examples of how to classify various income and expense items.</image:caption>
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      <image:title>Blog - Properly Analyzing Cash-on-Cash Returns in Real Estate Investing</image:title>
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    <lastmod>2025-02-18</lastmod>
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      <image:title>Blog - Multifamily (Apartment) Proforma Excel Template</image:title>
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      <image:title>Blog - Multifamily (Apartment) Proforma Excel Template</image:title>
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      <image:title>Blog - Multifamily (Apartment) Proforma Excel Template - Make it stand out</image:title>
      <image:caption>Brown vs. black text cells.</image:caption>
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      <image:title>Blog - Multifamily (Apartment) Proforma Excel Template</image:title>
      <image:caption>Residual assumptions and residual cap rate assumption.</image:caption>
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      <image:title>Blog - Multifamily (Apartment) Proforma Excel Template</image:title>
      <image:caption>Financing assumption when there is a loan assumption.</image:caption>
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      <image:caption>Historical financial trends.</image:caption>
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      <image:caption>Foretasted year 1 underwriting assumptions.</image:caption>
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      <image:caption>Foretasted year 2 underwriting assumptions.</image:caption>
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      <image:caption>Underwriting assumptions Years 3 -10.</image:caption>
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      <image:caption>Net Operating Income (NOI) years 1-10.</image:caption>
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      <image:caption>Returns summary.</image:caption>
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      <image:caption>Tactica free multifamily Excel template displayed on laptop.</image:caption>
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    <loc>https://www.tacticares.com/blog-feed/capitalization-rates-everything-there-is-to-know</loc>
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    <lastmod>2024-09-26</lastmod>
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    <loc>https://www.tacticares.com/blog-feed/real-estate-investment-state-net-migration</loc>
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    <lastmod>2023-12-28</lastmod>
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      <image:caption>State-to-state migration flows.</image:caption>
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      <image:caption>State-to-state population outflows.</image:caption>
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      <image:caption>District of Columbia population outflows.</image:caption>
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      <image:caption>Wisconsin population outflows.</image:caption>
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      <image:caption>Wisconsin losing most residents to Illinois and Minnesota.</image:caption>
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      <image:caption>Ranking the United States from best to worst domestic migration.</image:caption>
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    <lastmod>2024-09-26</lastmod>
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    <lastmod>2025-02-18</lastmod>
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    <lastmod>2024-09-26</lastmod>
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    <lastmod>2024-09-26</lastmod>
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  <url>
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  <url>
    <loc>https://www.tacticares.com/blog-feed/condominium-vs-apartment-development-contrast</loc>
    <changefreq>monthly</changefreq>
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  <url>
    <loc>https://www.tacticares.com/blog-feed/modeling-multifamily-housing-development-grants</loc>
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      <image:title>Blog - Offset Function Excel - Real Estate Underwriting - Make it stand out</image:title>
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      <image:title>Blog - Offset Function Excel - Real Estate Underwriting - Make it stand out</image:title>
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      <image:title>Blog - Offset Function Excel - Real Estate Underwriting - Make it stand out</image:title>
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      <image:title>Blog - Offset Function Excel - Real Estate Underwriting - Make it stand out</image:title>
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      <image:title>Blog - Offset Function Excel - Real Estate Underwriting - Make it stand out</image:title>
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      <image:title>Blog - Offset Function Excel - Real Estate Underwriting - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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  <url>
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    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2023-12-28</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/67bfdf41-94fd-460f-95bf-b149f6fa0e74/%231.JPG</image:loc>
      <image:title>Blog - Multifamily Underwriting: Modest Rent Growth is Not a Given</image:title>
      <image:caption>7-year investment hold with 3% rent growth every year.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/be424d42-2a2b-4f6b-8c8f-d440e48fbbc7/%232.JPG</image:loc>
      <image:title>Blog - Multifamily Underwriting: Modest Rent Growth is Not a Given</image:title>
      <image:caption>7-year investment hold with 0% rent growth in Year 1, with 3% increase thereafter.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/d4947e23-ac15-495c-a6c0-77559b83a61e/%233.JPG</image:loc>
      <image:title>Blog - Multifamily Underwriting: Modest Rent Growth is Not a Given</image:title>
      <image:caption>7-year investment hold with 0% rent growth in Years 1 and 2, with 3% increase thereafter.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/d01c11ed-4fcc-4921-95e0-9df253adecc8/%234.JPG</image:loc>
      <image:title>Blog - Multifamily Underwriting: Modest Rent Growth is Not a Given</image:title>
      <image:caption>7-year investment hold with negative rent growth in Years 1 and 2, with 3% increase thereafter.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594913474432-WMXIN4F3BJPTVW58LFNQ/%233.JPG</image:loc>
      <image:title>Blog - Multifamily Renovation: Planning a Deeper Value-Add</image:title>
      <image:caption>Renovations summary with emphasis on previously renovated units.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594913525710-7L3L6W1U2C5IEMIH0BIX/%234.JPG</image:loc>
      <image:title>Blog - Multifamily Renovation: Planning a Deeper Value-Add</image:title>
      <image:caption>Renovations summary with emphasis on targeted rents.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594913556953-VPEZKTODP1LZNPV1NGOX/%235.JPG</image:loc>
      <image:title>Blog - Multifamily Renovation: Planning a Deeper Value-Add</image:title>
      <image:caption>Renovations summary with emphasis on previously renovated units.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594913658358-M7R1XSKAWOFVZWXU2FUZ/%236.JPG</image:loc>
      <image:title>Blog - Multifamily Renovation: Planning a Deeper Value-Add</image:title>
      <image:caption>Comparing the previously renovated one bedroom unit to its original counterpart.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594913705121-MXZNS0USUVU77WGQCTF2/%237.JPG</image:loc>
      <image:title>Blog - Multifamily Renovation: Planning a Deeper Value-Add</image:title>
      <image:caption>Improving upon previous owner’s renovation strategy.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594913758311-0DHF8C8GC149MC4NMNUJ/%238.JPG</image:loc>
      <image:title>Blog - Multifamily Renovation: Planning a Deeper Value-Add</image:title>
      <image:caption>Renovations summary analyzing an under-rented renovated two bedroom unit.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594913854320-NMUD3632MS7TL6VB63RF/%239.JPG</image:loc>
      <image:title>Blog - Multifamily Renovation: Planning a Deeper Value-Add</image:title>
      <image:caption>Catching up under-rented renovated two bedroom unit to appropriate market rent.</image:caption>
    </image:image>
    <image:image>
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      <image:title>Blog - Multifamily Renovation: Planning a Deeper Value-Add</image:title>
      <image:caption>Annualized renovations proforma.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1599871440900-L5VFUS9E6ZT44N1Y8N74/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Multifamily Renovation: Planning a Deeper Value-Add</image:title>
      <image:caption>Tactica free multifamily Excel template displayed on laptop.</image:caption>
    </image:image>
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  <url>
    <loc>https://www.tacticares.com/blog-feed/a-definitive-guide-to-calculating-returns-on-real-estate-investments</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-05-10</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1628096655707-6Z71XZHY1IPSYI1QF9D5/%233.JPG</image:loc>
      <image:title>Blog - A Definitive Guide to Calculating Returns on Real Estate Investments</image:title>
      <image:caption>chart of investment metrics broken down into yields and total returns.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594857391654-QA868157G3D45TW6S36M/%232.JPG</image:loc>
      <image:title>Blog - A Definitive Guide to Calculating Returns on Real Estate Investments</image:title>
      <image:caption>Cash on cash equation with examples of each variable.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594857433909-8GICXO92DP6CNV7OS82C/%231.JPG</image:loc>
      <image:title>Blog - A Definitive Guide to Calculating Returns on Real Estate Investments</image:title>
      <image:caption>5-year investment cash flows.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594857488942-8I5P5D6ZYHQ11UB0J8W2/%231.JPG</image:loc>
      <image:title>Blog - A Definitive Guide to Calculating Returns on Real Estate Investments</image:title>
      <image:caption>5-year investment cash flows</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594857521425-ZD8D40T12XLAD0EB7O66/%234.JPG</image:loc>
      <image:title>Blog - A Definitive Guide to Calculating Returns on Real Estate Investments</image:title>
      <image:caption>5-year cash flows with lower residual sale proceeds.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1599870861199-EDOFC5LMWXZN6O429LLJ/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - A Definitive Guide to Calculating Returns on Real Estate Investments</image:title>
      <image:caption>Tactica free multifamily Excel template displayed on laptop.</image:caption>
    </image:image>
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  <url>
    <loc>https://www.tacticares.com/blog-feed/why-cap-rates-in-multifamily-investing-are-misleading</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-06-14</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594868381724-0K9VXSAQWHX8T18IBPIW/%231.JPG</image:loc>
      <image:title>Blog - Why Cap Rates in Multifamily Investing Are Misleading</image:title>
      <image:caption>Cap rate summary.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594868429480-AOYUA3Q19RBYH2U0MOSY/%232.JPG</image:loc>
      <image:title>Blog - Why Cap Rates in Multifamily Investing Are Misleading</image:title>
      <image:caption>7-year investment hold with emphasis on residual cap rate and levered IRR.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594868476603-HY63XALQUPJUX322KB5N/%233.JPG</image:loc>
      <image:title>Blog - Why Cap Rates in Multifamily Investing Are Misleading</image:title>
      <image:caption>7-year investment hold with emphasis on residual cap rate and levered IRR.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594868497897-9NIU0P4RI36RDRHF0PC6/%234.JPG</image:loc>
      <image:title>Blog - Why Cap Rates in Multifamily Investing Are Misleading</image:title>
      <image:caption>Financing summary.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594868525884-26NYSIA80565Y9136EKQ/%235.JPG</image:loc>
      <image:title>Blog - Why Cap Rates in Multifamily Investing Are Misleading</image:title>
      <image:caption>7-year investment hold with emphasis on cash-on-cash returns in Years 1-3.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594868600212-R6WX7QHNOIQ54D0HVROU/%236.JPG</image:loc>
      <image:title>Blog - Why Cap Rates in Multifamily Investing Are Misleading</image:title>
      <image:caption>7-year investment hold with emphasis on cash-on-cash returns in Years 1-3.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1599871317380-4MMGM9ZVM0SJGP6TOK73/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Why Cap Rates in Multifamily Investing Are Misleading</image:title>
      <image:caption>Tactica free multifamily Excel template displayed on laptop.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.tacticares.com/blog-feed/underwriting-multifamily-loss-to-lease</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-09-26</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1627405206520-CXYQV5S96H7RTPDHTNQO/%231.JPG</image:loc>
      <image:title>Blog - Underwriting Multifamily Loss-to-Lease - Make it stand out</image:title>
      <image:caption>Loss to lease in historical financials.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1627405247403-X7ZSMKHOZHP10OJ6WT5D/%232.JPG</image:loc>
      <image:title>Blog - Underwriting Multifamily Loss-to-Lease - Make it stand out</image:title>
      <image:caption>Loss to lease eliminated in proforma underwriting.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1627405282828-FQ662RFUE7HBZPC0XAAD/%233.JPG</image:loc>
      <image:title>Blog - Underwriting Multifamily Loss-to-Lease - Make it stand out</image:title>
      <image:caption>Separate line item for concessions</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1627412950903-Z31LPDS8N4B4E9Y1VVFF/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Underwriting Multifamily Loss-to-Lease - Make it stand out</image:title>
      <image:caption>Free proforma Excel templates.</image:caption>
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  <url>
    <loc>https://www.tacticares.com/blog-feed/uncovering-multifamily-property-tax-comps</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-02-18</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1625426604617-SG7IKNY415XTS8PB66FZ/%231.JPG</image:loc>
      <image:title>Blog - Uncovering Multifamily Property Tax Comps - Make it stand out</image:title>
      <image:caption>Subject property on a map.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1625426633380-TTJLLKWKEQEC9PBAAF23/%232.JPG</image:loc>
      <image:title>Blog - Uncovering Multifamily Property Tax Comps - Make it stand out</image:title>
      <image:caption>Tax comps on map.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1625426673926-RLMGAER3U16WY5I0XTCB/%233.JPG</image:loc>
      <image:title>Blog - Uncovering Multifamily Property Tax Comps - Make it stand out</image:title>
      <image:caption>Tax comp assessment and tax payable data.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1625426713770-TOSC4OLHKF90QH1X6GYO/%234.JPG</image:loc>
      <image:title>Blog - Uncovering Multifamily Property Tax Comps - Make it stand out</image:title>
      <image:caption>Applicable tax rate assumption in multifamily development proforma.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1625426795219-UO7T3AXAKFYFKXB6CQTQ/%235.JPG</image:loc>
      <image:title>Blog - Uncovering Multifamily Property Tax Comps - Make it stand out</image:title>
      <image:caption>Backing into stabilized property taxes per unit.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1625426863306-6Y6U2ADFY7CDSWR53VB8/%236.JPG</image:loc>
      <image:title>Blog - Uncovering Multifamily Property Tax Comps - Make it stand out</image:title>
      <image:caption>154% reassessment as percentage of project cost equals $4,672 per unit in taxes.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1625426954010-BJB877BPE1VSJQM0P0Z2/%237.JPG</image:loc>
      <image:title>Blog - Uncovering Multifamily Property Tax Comps - Make it stand out</image:title>
      <image:caption>Real estate taxes fully stabilized by Year 3.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1625528671916-XUL1B3ACQ8T95EMXKNGB/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Uncovering Multifamily Property Tax Comps - Make it stand out</image:title>
      <image:caption>Free proforma Excel template vault.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.tacticares.com/blog-feed/multifamily-development-proforma-template</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-11-18</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/fccbe983-06b5-49cc-b844-63f6406974c2/image.png</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1625066534649-0C4899XU39HN572FE41K/PC+enable+iterative+calculations.JPG</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template - Make it stand out</image:title>
      <image:caption>Enabling iterative calculations for PC.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1625066479992-QGUCYGQPB6LTNRQBD1NH/Brown+vs.+Black+Text+cells.JPG</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template - Make it stand out</image:title>
      <image:caption>Brown text cells and black text cell difference.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/66d0396c-87cc-408a-bd9e-21a2447a5a92/General+Property.png</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template</image:title>
      <image:caption>General property information</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590434866365-LJV1M068YYD0NFRV2KRE/%232.JPG</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template</image:title>
      <image:caption>construction financing assumptions.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590428815786-7BJD9I7QFWFBYAAY8925/%233.JPG</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template</image:title>
      <image:caption>Construction draw summary.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/d675ce71-1223-40e6-970b-e40b6fb87e33/Permanent+Financing.jpg</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template</image:title>
      <image:caption>Permanent financing assumptions.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590428965799-7IFXGBDTF54HAT7RHICQ/%235.JPG</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template</image:title>
      <image:caption>Lease-Up summary and concession assumptions.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590429077111-51F3B9XHQT1IFDVWBR43/%236.JPG</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template</image:title>
      <image:caption>Unit mix and rental summary.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590429153701-EOC8SY8HL2IGOTYF8CLZ/%237.JPG</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template</image:title>
      <image:caption>NOI, cash flow, and DSCR Excel bar chart.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590429191523-2MX5LGS0QPLKNV54L12M/%238.JPG</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template</image:title>
      <image:caption>Residual cap rate assumptions.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/4310c8f6-6e97-4777-b066-937fa59228c4/Project-Level+Returns.png</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template</image:title>
      <image:caption>IRR, equity multiple, and ROI summary.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590429409105-3FVKWDP9UFMS9TBHVOUS/%2310.JPG</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template</image:title>
      <image:caption>Partnership cash flow distributions summary.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/07311075-a187-4c1f-a6e5-4dd16b6f05fb/Dashboard.png</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template</image:title>
      <image:caption>Development summary dashboard.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590429518218-F38PHCWUIUSLH3R0H8TD/image-asset.jpeg</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template</image:title>
      <image:caption>Reboot toggle.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590429538268-TE28P5S5YL1J7J8SP0DN/%2313.JPG</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template</image:title>
      <image:caption>Construction financing summary with errors.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/fabf3227-71df-40ba-90bc-fb4ba91311c7/Fees.jpg</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590429725018-IV9M9ZACBIWAFLKUCAL1/%2314.JPG</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template</image:title>
      <image:caption>Apartment construction budget.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590429769794-2SOZ91PTPA6PFQ3PACS1/%2315.JPG</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template</image:title>
      <image:caption>Construction budget expense methods.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590429805587-6D5WOVA2DAZNCOY9IS54/%2316.JPG</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template</image:title>
      <image:caption>Construction draw schedule.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590429988724-1QBO7IKL75R6DZ51P9ZU/%2317.JPG</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template</image:title>
      <image:caption>Operating shortfall and final construction loan balance.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1625082745320-18NWPP3ATIKKWVLBMY7C/operating+shortfall.JPG</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template - Make it stand out</image:title>
      <image:caption>Operating shortfall of $70,000.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1625082784978-LR93RVLM40PYGO6WZUPI/operating+contingecy+line+item.JPG</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template - Make it stand out</image:title>
      <image:caption>Operating contingency soft cost line-item.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1625082827536-SMY40E33X1IIZ7PC5W8R/operating+surplus+fund.JPG</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template - Make it stand out</image:title>
      <image:caption>Operating contingency surplus.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1625071433040-JKR9X14LZPJC5EDO3EBF/Updated+Unit+Mix.JPG</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template - Make it stand out</image:title>
      <image:caption>Unit mix summary and charts.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/ac51582e-cd87-4720-b517-f65bfb5b725c/Market+Rent+Growth.JPG</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template - Make it stand out</image:title>
      <image:caption>Market rent growth during construction.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590430216437-VJ5TG7ER1JRZ00TLPRU3/%2321.JPG</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template</image:title>
      <image:caption>Stabilized operating revenues and operating expenses.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590430246257-77J07O9IAPDTWMCKR63D/%2322.JPG</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template</image:title>
      <image:caption>Summary of property taxes.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590430319833-X16KS6T8WG7RNGIWEFGC/image-asset.jpeg</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template</image:title>
      <image:caption>Stabilized line-item assumptions.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590430290913-442WL81JM89J39WAYUXR/%2323.JPG</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template</image:title>
      <image:caption>Apartment occupancy by month.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590430403006-FNSNW2NA4ZFYRU6LTE29/%2325.JPG</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template</image:title>
      <image:caption>Remaining construction loan proceeds by month.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/4614efa5-77b1-4722-8c5f-b52de1ca83c9/Returns+Summar.png</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template</image:title>
      <image:caption>Summary of returns over a 10-year investment hold.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/55ba022f-a03a-4c15-a56b-1c2e96c8f225/Refi+Month+Adj..jpg</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Blog - Multifamily Development Proforma Excel Template</image:title>
      <image:caption>Four development stress tests.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/4cef7ffb-8565-4bb9-b44a-c1a7fec4fdf1/Sponsor+Fee+Tracking.jpg</image:loc>
      <image:title>Blog - Multifamily Development Proforma Excel Template - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
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      <image:title>Blog - Multifamily Development Proforma Excel Template</image:title>
    </image:image>
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    <loc>https://www.tacticares.com/blog-feed/how-to-limit-your-competition-on-multifamily-listings</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-09-26</lastmod>
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      <image:title>Blog - How to Find Multifamily Listings With Less Competition - Make it stand out</image:title>
      <image:caption>Free proforma Excel templates.</image:caption>
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  <url>
    <loc>https://www.tacticares.com/blog-feed/hedging-cost-of-lumber-in-real-estate</loc>
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    <priority>0.5</priority>
    <lastmod>2024-09-26</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/a0e42e07-cca4-4135-b0ca-9a24e5124a66/Correlation+chart.JPG</image:loc>
      <image:title>Blog - Hedging the Cost of Lumber in Real Estate - Make it stand out</image:title>
      <image:caption>Lumber futures and TRES-L 1-year stock charts.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1622506589415-M703TOTJOZST66SOK48D/%2317.JPG</image:loc>
      <image:title>Blog - Hedging the Cost of Lumber in Real Estate - Make it stand out</image:title>
      <image:caption>Lumber timeline.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1622047164470-UPQBYTUYLJ2XO04BL5K4/%232.JPG</image:loc>
      <image:title>Blog - Hedging the Cost of Lumber in Real Estate - Make it stand out</image:title>
      <image:caption>Cost of lumber for a housing project.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1622047186862-GULYEEVVWH02PHPP1IAK/%233.JPG</image:loc>
      <image:title>Blog - Hedging the Cost of Lumber in Real Estate - Make it stand out</image:title>
      <image:caption>Max lumber cost builder can absorb.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/9cb48018-89b2-49fc-984c-752248fd20b3/Option+Chain.JPG</image:loc>
      <image:title>Blog - Hedging the Cost of Lumber in Real Estate - Make it stand out</image:title>
      <image:caption>Option chain for TRES-L stock.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/82e889b5-474c-4f45-8e6a-b20415f2e07b/%231.JPG</image:loc>
      <image:title>Blog - Hedging the Cost of Lumber in Real Estate - Make it stand out</image:title>
      <image:caption>TRES-L Call Option inputs.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/54faf566-b379-43df-a6d1-149438f30278/%232.JPG</image:loc>
      <image:title>Blog - Hedging the Cost of Lumber in Real Estate - Make it stand out</image:title>
      <image:caption>TRES-L total call options.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1a3c87cd-d4a7-4028-bb75-cc41eeacca20/%233.JPG</image:loc>
      <image:title>Blog - Hedging the Cost of Lumber in Real Estate - Make it stand out</image:title>
      <image:caption>Total lumber cost increase in July buying 10 call options.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/19997221-5516-4c48-98be-bf1450d4623b/%234.JPG</image:loc>
      <image:title>Blog - Hedging the Cost of Lumber in Real Estate - Make it stand out</image:title>
      <image:caption>Total cost still exceeds maximum lumber increase threshold.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/a934b595-4f5c-4d76-a65c-4bdf3b358e1f/%235.JPG</image:loc>
      <image:title>Blog - Hedging the Cost of Lumber in Real Estate - Make it stand out</image:title>
      <image:caption>Total lumber cost increase in July buying 15 call options.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1622059016394-TYF2NVW3ZLJ11GXO6D04/%239.JPG</image:loc>
      <image:title>Blog - Hedging the Cost of Lumber in Real Estate - Make it stand out</image:title>
      <image:caption>Lumber pricing variability and total increased lumber cost with option hedge.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/09387a34-bcab-4465-be9d-2af3e4132860/%236.JPG</image:loc>
      <image:title>Blog - Hedging the Cost of Lumber in Real Estate - Make it stand out</image:title>
      <image:caption>Hedging lumber costs with 19 call options.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1622059047803-VLKOWKVC55EBDQGIC81Y/%2311.JPG</image:loc>
      <image:title>Blog - Hedging the Cost of Lumber in Real Estate - Make it stand out</image:title>
      <image:caption>Lumber pricing variability and total increased lumber cost with option hedge.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1622047651629-2YR524DZ1K9CTA0ARKC1/%2312.JPG</image:loc>
      <image:title>Blog - Hedging the Cost of Lumber in Real Estate - Make it stand out</image:title>
      <image:caption>Lumber pricing variability and total increased lumber cost with option hedge graphed.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1622059071827-BP4OAGOC13E96QL65W4H/%2313.JPG</image:loc>
      <image:title>Blog - Hedging the Cost of Lumber in Real Estate - Make it stand out</image:title>
      <image:caption>Lumber cost exposure with no hedge.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1622047749453-LCJX5KX4KO1PHN29F18J/%2314.JPG</image:loc>
      <image:title>Blog - Hedging the Cost of Lumber in Real Estate - Make it stand out</image:title>
      <image:caption>Graph comparing cost increase between call option hedging and no hedging.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1622047807785-0SZ8UIBPXWLCKI587U6H/%2315.JPG</image:loc>
      <image:title>Blog - Hedging the Cost of Lumber in Real Estate - Make it stand out</image:title>
      <image:caption>Graph comparing cost increase between call option hedging and no hedging emphasizing the downside of hedging.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1622047881992-8GVGRV3J9W1Q7J61FZJT/%2316.JPG</image:loc>
      <image:title>Blog - Hedging the Cost of Lumber in Real Estate - Make it stand out</image:title>
      <image:caption>Graph comparing cost increase between call option hedging and no hedging emphasizing the upside of hedging.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1622060353562-AE0IDSIEARPBSB6REFRH/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Hedging the Cost of Lumber in Real Estate - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
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  <url>
    <loc>https://www.tacticares.com/blog-feed/underwriting-a-multifamily-refinance</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-09-26</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1621347717262-UAMV7ZFBPHXBGDVC2157/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Underwriting a Multifamily Refinance - Make it stand out</image:title>
      <image:caption>Free proforma Excel templates.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.tacticares.com/blog-feed/multifamily-redevelopment-proforma-excel-template</loc>
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    <priority>0.5</priority>
    <lastmod>2024-09-26</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/b35bfe5b-b818-4e5d-ad9d-8dd24679461a/image.png</image:loc>
      <image:title>Blog - Multifamily Redevelopment Proforma Excel Template - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/9c2297b5-e473-48de-a286-8b0ee656a9c9/PC+enable+iterative+calculations.JPG</image:loc>
      <image:title>Blog - Multifamily Redevelopment Proforma Excel Template - Make it stand out</image:title>
      <image:caption>Enable iterative calculations.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/0c9b8546-fd1f-4bd6-8c9b-91b6a059e040/Brown+vs.+Black+Text+cells.JPG</image:loc>
      <image:title>Blog - Multifamily Redevelopment Proforma Excel Template - Make it stand out</image:title>
      <image:caption>Brown vs. Black text cells.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618773131188-PAZIHGTI204ZPV3N6T5R/%231.JPG</image:loc>
      <image:title>Blog - Multifamily Redevelopment Proforma Excel Template</image:title>
      <image:caption>General property information.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618773157778-74I0N6V53CNI8H15NTY7/%232.JPG</image:loc>
      <image:title>Blog - Multifamily Redevelopment Proforma Excel Template</image:title>
      <image:caption>Unit Mix Summary pie chart.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618773237993-ECICB53BXWY5N88UKHQX/%233.JPG</image:loc>
      <image:title>Blog - Multifamily Redevelopment Proforma Excel Template</image:title>
      <image:caption>Financing Assumptions for bridge loan and refinance loan.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618774483227-UR9TBJNN3HJ150MUEN15/%234.JPG</image:loc>
      <image:title>Blog - Multifamily Redevelopment Proforma Excel Template</image:title>
      <image:caption>Summary of rents, premiums and the overall renovation plan.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618775382860-I6ORL5EK10Q970UW55KL/%235.JPG</image:loc>
      <image:title>Blog - Multifamily Redevelopment Proforma Excel Template</image:title>
      <image:caption>Project-level return metrics.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1640eb9f-53d0-4b79-bf3e-efdeccf18f03/Updated+Refi+Metrics.JPG</image:loc>
      <image:title>Blog - Multifamily Redevelopment Proforma Excel Template</image:title>
      <image:caption>Property refinance metrics.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/54cd6311-6f98-4bee-abed-d527e5956cc2/S-U.png</image:loc>
      <image:title>Blog - Multifamily Redevelopment Proforma Excel Template</image:title>
      <image:caption>Summary of sources and uses.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618777254874-S8RO7SS7OJ7AROB87RAL/%2310.JPG</image:loc>
      <image:title>Blog - Multifamily Redevelopment Proforma Excel Template</image:title>
      <image:caption>Closing cost assumptions.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618777868611-BXDW6PI3PDVHXE7H4P9S/%238.JPG</image:loc>
      <image:title>Blog - Multifamily Redevelopment Proforma Excel Template</image:title>
      <image:caption>Summary of residual assumptions.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618777897160-ORIBVMPFLTD43QTNUF24/%2311.JPG</image:loc>
      <image:title>Blog - Multifamily Redevelopment Proforma Excel Template</image:title>
      <image:caption>Where to input closing costs and residual cap rate.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618777998679-01ENCLL0VE9L4M3RC6LI/%239.JPG</image:loc>
      <image:title>Blog - Multifamily Redevelopment Proforma Excel Template</image:title>
      <image:caption>Partnership returns between the general partner and limited partner.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618778022579-UXDMZD1WLVFUIQR8FBIZ/%2312.JPG</image:loc>
      <image:title>Blog - Multifamily Redevelopment Proforma Excel Template</image:title>
      <image:caption>Investment Summary dashboard.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618779985418-MGHWEG5A3WPKKJDGIWIB/%2313.jfif</image:loc>
      <image:title>Blog - Multifamily Redevelopment Proforma Excel Template</image:title>
      <image:caption>Renovation summary tab.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618790833590-36EGJPNHWXQOXD0TR8DQ/%2314.JPG</image:loc>
      <image:title>Blog - Multifamily Redevelopment Proforma Excel Template</image:title>
      <image:caption>Historical financials: 2017, 2018 and trailing 12-month.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590598887570-M1QNGDZBG2G3ASP73LSI/%2311.JPG</image:loc>
      <image:title>Blog - Multifamily Redevelopment Proforma Excel Template</image:title>
      <image:caption>Multiply factor input-financial tab.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618790891402-YWGB9YWN4XBTX1TKDY2Q/%2316.JPG</image:loc>
      <image:title>Blog - Multifamily Redevelopment Proforma Excel Template</image:title>
      <image:caption>Historical financial trends.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618790928253-T3TQ44QGM8KHEF9RUNK3/%2317.JPG</image:loc>
      <image:title>Blog - Multifamily Redevelopment Proforma Excel Template</image:title>
      <image:caption>Underwriting assumptions Year 1.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618791222032-DT7UHNUY3APM79LZCDNS/%2318.JPG</image:loc>
      <image:title>Blog - Multifamily Redevelopment Proforma Excel Template</image:title>
      <image:caption>Underwriting assumptions Year 2.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618791248726-S89ONOP1DMSVRXVA7KOF/%2319.JPG</image:loc>
      <image:title>Blog - Multifamily Redevelopment Proforma Excel Template</image:title>
      <image:caption>Example of a common assumption input mistake.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/0ec26da8-0ef8-4614-b198-d44ef3f30416/Phase-In.png</image:loc>
      <image:title>Blog - Multifamily Redevelopment Proforma Excel Template - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618791261565-L9GLVSVFIZHFCLU6SOM7/%2320.JPG</image:loc>
      <image:title>Blog - Multifamily Redevelopment Proforma Excel Template</image:title>
      <image:caption>Underwriting assumptions Year 3 through Year 10.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618791283378-FZLZ8BJPFHS1OP9TAD8I/%2321.JPG</image:loc>
      <image:title>Blog - Multifamily Redevelopment Proforma Excel Template</image:title>
      <image:caption>Proforma 10-year above the line cash flow.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1599868967887-9DGBNCUA3EFEXE8IIZU1/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Multifamily Redevelopment Proforma Excel Template</image:title>
      <image:caption>Tactica free multifamily Excel template displayed on laptop.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.tacticares.com/blog-feed/planning-a-100-unit-multifamily-repositioning</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-09-26</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1619308444783-TLYH41CSRJKADX5W92L9/%231.JPG</image:loc>
      <image:title>Blog - Planning a 100+ Unit Multifamily Repositioning</image:title>
      <image:caption>Floorplan inputs</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1619308456699-JRN2YAJOP03GR0F2YA0M/%232.JPG</image:loc>
      <image:title>Blog - Planning a 100+ Unit Multifamily Repositioning</image:title>
      <image:caption>Error check section populated.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1619308482927-UVCH9AKXNHVNLTS712A6/%233.JPG</image:loc>
      <image:title>Blog - Planning a 100+ Unit Multifamily Repositioning</image:title>
      <image:caption>Floorplan inputs and error check.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1619306565803-Z7ZEBCXWPAASGNT857FG/%234.JPG</image:loc>
      <image:title>Blog - Planning a 100+ Unit Multifamily Repositioning</image:title>
      <image:caption>Renovation inputs with emphasis on timing.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1619306605538-1TEKFJ1I69OV14TLNYBN/%235.JPG</image:loc>
      <image:title>Blog - Planning a 100+ Unit Multifamily Repositioning</image:title>
      <image:caption>Renovation inputs with emphasis on occupancy other assumptions.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1619306648135-WKDIUTI5R5V9OF936DBB/%236.JPG</image:loc>
      <image:title>Blog - Planning a 100+ Unit Multifamily Repositioning</image:title>
      <image:caption>Blended unit averages in error check.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1619306704331-1I2PCPPQF607KFSZT513/%237.JPG</image:loc>
      <image:title>Blog - Planning a 100+ Unit Multifamily Repositioning</image:title>
      <image:caption>Drop-down list, select “blended.”</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1619306741521-E01425TLDQIHG86TOIRF/%238.JPG</image:loc>
      <image:title>Blog - Planning a 100+ Unit Multifamily Repositioning</image:title>
      <image:caption>Renovations inputs-entering 50 units per section.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1619306782886-PNJFGQ01YFWBDQUZGG7Q/%239.JPG</image:loc>
      <image:title>Blog - Planning a 100+ Unit Multifamily Repositioning</image:title>
      <image:caption>50 units pasted into all eight sections.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1619307002051-PK1EAQIAPJ5PQ7J9DGDK/%2310.JPG</image:loc>
      <image:title>Blog - Planning a 100+ Unit Multifamily Repositioning</image:title>
      <image:caption>Renovation summary tab.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1619310022453-SETUY3IS8G2XO0SVV4AS/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Planning a 100+ Unit Multifamily Repositioning</image:title>
      <image:caption>Free proforma Excel templates.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.tacticares.com/blog-feed/error-checking-multifamily-renovation-analysis</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-09-26</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618941382645-ALJU4578KQ3L84VKMDKH/%231.JPG</image:loc>
      <image:title>Blog - Checking Your Multifamily Renovation Analysis for Errors</image:title>
      <image:caption>Floorplan input and error check grid.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618941420484-Y1AB0DWOMVJ5ESU6Q9NG/%232.JPG</image:loc>
      <image:title>Blog - Checking Your Multifamily Renovation Analysis for Errors</image:title>
      <image:caption>Unit inputs.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618941448445-Y53K026XY1YQHEBQ00AK/%233.JPG</image:loc>
      <image:title>Blog - Checking Your Multifamily Renovation Analysis for Errors</image:title>
      <image:caption>Error check inputs.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618941474807-B8XXQQN65CY6OJMRIYAX/%234.JPG</image:loc>
      <image:title>Blog - Checking Your Multifamily Renovation Analysis for Errors</image:title>
      <image:caption>Floorplan selection drop-down.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618941513138-5NLUE0AX1LFMGP6AN7U1/%235.JPG</image:loc>
      <image:title>Blog - Checking Your Multifamily Renovation Analysis for Errors</image:title>
      <image:caption>Summary of renovation plan.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618942110201-UUJ8A7RK5K6AOI749A5M/%236.JPG</image:loc>
      <image:title>Blog - Checking Your Multifamily Renovation Analysis for Errors</image:title>
      <image:caption>4th floor renovation plan.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618942180897-XLPEPTMY2XBCI9VCWGGC/%237.JPG</image:loc>
      <image:title>Blog - Checking Your Multifamily Renovation Analysis for Errors</image:title>
      <image:caption>Error check highlighting the errors.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618942233002-9AZO05VGXBPWEXI9WQNP/%238.JPG</image:loc>
      <image:title>Blog - Checking Your Multifamily Renovation Analysis for Errors</image:title>
      <image:caption>2nd floor renovation plan.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618943973350-D5TCK5O2EFNP5OYXZZUI/%239.jfif</image:loc>
      <image:title>Blog - Checking Your Multifamily Renovation Analysis for Errors</image:title>
    </image:image>
    <image:image>
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      <image:title>Blog - Checking Your Multifamily Renovation Analysis for Errors</image:title>
      <image:caption>Free proforma Excel templates.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.tacticares.com/blog-feed/multifamily-value-add-redevelopment-key-differences</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-09-26</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1619374392718-Z0HQBJ1TZ14F9YWWVC74/%231.JPG</image:loc>
      <image:title>Blog - Multifamily Value-Add vs. Redevelopment: Key Differences</image:title>
      <image:caption>Value-Add Model vs. Redevelopment Model comparison.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618245251009-HP1ZLKDQASFDZFZTENLI/%232.JPG</image:loc>
      <image:title>Blog - Multifamily Value-Add vs. Redevelopment: Key Differences</image:title>
      <image:caption>Financing assumptions in year 0.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618245430912-4A9TIPXQ0YMNCIW2LTKX/%233.JPG</image:loc>
      <image:title>Blog - Multifamily Value-Add vs. Redevelopment: Key Differences</image:title>
      <image:caption>Allocating common area capital to the units.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618245464827-9I2OD7VHRAK3ZVQSZUAU/%234.JPG</image:loc>
      <image:title>Blog - Multifamily Value-Add vs. Redevelopment: Key Differences</image:title>
      <image:caption>Allocating common area as “Other Capital.”</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618245552316-Y9HAV34E6ZVYKON0LA5Z/%235.JPG</image:loc>
      <image:title>Blog - Multifamily Value-Add vs. Redevelopment: Key Differences</image:title>
      <image:caption>Common area capital funded by cash flow.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1618245575269-DJP33YYBNJAFD0BXCHY8/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Multifamily Value-Add vs. Redevelopment: Key Differences</image:title>
      <image:caption>Free proforma Excel templates.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.tacticares.com/blog-feed/multifamily-construction-schedule-template</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-09-26</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1617650611184-X8N0FR6LK8KYXOGSQO70/%231.JPG</image:loc>
      <image:title>Blog - Multifamily Construction Schedule Template</image:title>
      <image:caption>Capex construction schedule.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1617650655242-ATICE2D8BK8WW51IL63W/%232.JPG</image:loc>
      <image:title>Blog - Multifamily Construction Schedule Template</image:title>
      <image:caption>Monthly construction budget.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1617650712628-G49LV40R3HMOO4GNQ4EA/%233.JPG</image:loc>
      <image:title>Blog - Multifamily Construction Schedule Template</image:title>
      <image:caption>Interest accrual standard or pre-drawn.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1617650751229-LOJOKGU6NLG6X6A9JXRN/%234.JPG</image:loc>
      <image:title>Blog - Multifamily Construction Schedule Template</image:title>
      <image:caption>Construction funds drawn.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1617650845658-IKHGJACU5C6UB2A6F9LP/%235.JPG</image:loc>
      <image:title>Blog - Multifamily Construction Schedule Template</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1617651008469-VABLTQDID0CMNYAIPOFS/%236.JPG</image:loc>
      <image:title>Blog - Multifamily Construction Schedule Template</image:title>
      <image:caption>Construction interest reserve.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1617651035787-W5N0Z8XKSADZ2KOECHOK/%237.JPG</image:loc>
      <image:title>Blog - Multifamily Construction Schedule Template</image:title>
      <image:caption>Loan draws included in renovation capital.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1617651101204-JUIG0MQRO9QKF7GPZ6GB/%238.JPG</image:loc>
      <image:title>Blog - Multifamily Construction Schedule Template</image:title>
      <image:caption>Loan draws no longer considered renovation capital.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1617651216743-I4ACOPKTIB0IFE8BLSDB/%2310+%281%29.jpg</image:loc>
      <image:title>Blog - Multifamily Construction Schedule Template</image:title>
      <image:caption>Key construction cash flows.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1617651285306-XNMRV3QG1E3SQ2JUDAN8/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Multifamily Construction Schedule Template</image:title>
      <image:caption>Free proforma Excel templates.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.tacticares.com/blog-feed/planning-a-multifamily-repositioning-investment-strategy</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-09-26</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1616953148613-TBZRUYCEF1AIXEOA1GW5/%231.JPG</image:loc>
      <image:title>Blog - Planning a Multifamily Repositioning Investment Strategy</image:title>
      <image:caption>36-unit property rent roll.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1616953188447-PQS9JFH5CONTJDZN8NVS/%232.JPG</image:loc>
      <image:title>Blog - Planning a Multifamily Repositioning Investment Strategy</image:title>
      <image:caption>Property rent roll sorted by lease expirations.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1616953231349-50VNUNFX3OKAWKPUXD0P/%233.JPG</image:loc>
      <image:title>Blog - Planning a Multifamily Repositioning Investment Strategy</image:title>
      <image:caption>Floorplan inputs.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1616953267057-70ATZ2YVIKUNYN0NTPIB/%234.JPG</image:loc>
      <image:title>Blog - Planning a Multifamily Repositioning Investment Strategy</image:title>
      <image:caption>Drop-down list feeding from floorplan inputs.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1616953306755-77LWP2OQAFO4N36YF9Q8/%235.JPG</image:loc>
      <image:title>Blog - Planning a Multifamily Repositioning Investment Strategy</image:title>
      <image:caption>Property rent roll with vacant and month-to-month units highlighted.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1616953350357-S1NTGGNKWOM3KU1QBFS6/%236.JPG</image:loc>
      <image:title>Blog - Planning a Multifamily Repositioning Investment Strategy</image:title>
      <image:caption>Renovation assumptions for MTM and vacant units.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1616954283112-CV283PZHT1K2I4SKDH91/%237.JPG</image:loc>
      <image:title>Blog - Planning a Multifamily Repositioning Investment Strategy</image:title>
      <image:caption>Final inputs of section one.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1616954316262-QQQ1SACR9OLFOWG64RGR/%238.JPG</image:loc>
      <image:title>Blog - Planning a Multifamily Repositioning Investment Strategy</image:title>
      <image:caption>Property rent roll highlighting May lease expirations.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1616954366556-8WVWIJTGIAOCR8KPO9KO/%239.JPG</image:loc>
      <image:title>Blog - Planning a Multifamily Repositioning Investment Strategy</image:title>
      <image:caption>Completed May expirations section.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1616954407586-29BL2D1TK95ZRI34BOLR/%2310.JPG</image:loc>
      <image:title>Blog - Planning a Multifamily Repositioning Investment Strategy</image:title>
      <image:caption>Property rent roll highlighting June lease expirations.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1616954464384-IR0E5AITGG9HXA54AZO2/%2311.JPG</image:loc>
      <image:title>Blog - Planning a Multifamily Repositioning Investment Strategy</image:title>
      <image:caption>June expirations section completed.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1616954493071-RV0J5LZ4075HP70N2FG2/%2312.JPG</image:loc>
      <image:title>Blog - Planning a Multifamily Repositioning Investment Strategy</image:title>
      <image:caption>Property rent roll August and September expirations highlighted.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1616954533348-N05AKO0GZYMT5ORIU023/%2313.JPG</image:loc>
      <image:title>Blog - Planning a Multifamily Repositioning Investment Strategy</image:title>
      <image:caption>July expirations section finalized with cash for keys emphasized.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1616954784444-G46YI3B816TN1N603ESV/%2314.JPG</image:loc>
      <image:title>Blog - Planning a Multifamily Repositioning Investment Strategy</image:title>
      <image:caption>Summary of “Renovation Inputs” tab.</image:caption>
    </image:image>
    <image:image>
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      <image:title>Blog - Planning a Multifamily Repositioning Investment Strategy</image:title>
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      <image:title>Blog - The 4 Worst Job Markets in the U.S. at Coping with COVID</image:title>
      <image:caption>Filtering data set by metropolitan areas.</image:caption>
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      <image:caption>Yearly historical unemployment rates.</image:caption>
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      <image:caption>Selecting Erie County as a filter.</image:caption>
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      <image:caption>Summary of 25-34-year-olds living in Erie County.</image:caption>
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    <changefreq>monthly</changefreq>
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    <lastmod>2025-03-07</lastmod>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1605711533017-26LMNLP6YOHPB39D304U/%231.JPG</image:loc>
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      <image:caption>Filtering data set by metropolitan areas.</image:caption>
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      <image:title>Blog - The 8 Best Job Markets in the US: Measured By Covid Resiliency</image:title>
      <image:caption>Employment growth of all MSAs in alphabetical order.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1605712124496-5L5TP7UNK0O4VHVCAT9G/%233.JPG</image:loc>
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      <image:caption>Employment growth sorted by highest year-over-year growth.</image:caption>
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    <image:image>
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      <image:title>Blog - The 8 Best Job Markets in the US: Measured By Covid Resiliency</image:title>
      <image:caption>Labor Fo</image:caption>
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      <image:title>Blog - The 8 Best Job Markets in the US: Measured By Covid Resiliency</image:title>
      <image:caption>MSA leaders in year-over-year labor force growth.</image:caption>
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      <image:title>Blog - The 8 Best Job Markets in the US: Measured By Covid Resiliency</image:title>
      <image:caption>National unemployment rate in September of 2020.</image:caption>
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      <image:title>Blog - The 8 Best Job Markets in the US: Measured By Covid Resiliency</image:title>
      <image:caption>Filtering regions by MSAs that cracked top job growth and labor force growth.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1605713312606-DHODT1M2QW4XVHPKV027/%238.JPG</image:loc>
      <image:title>Blog - The 8 Best Job Markets in the US: Measured By Covid Resiliency</image:title>
      <image:caption>Unemployment rate button.</image:caption>
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      <image:title>Blog - The 8 Best Job Markets in the US: Measured By Covid Resiliency</image:title>
      <image:caption>2020 average unemployment rate.</image:caption>
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      <image:title>Blog - The 8 Best Job Markets in the US: Measured By Covid Resiliency</image:title>
      <image:caption>Dover, Gulfport, Kennewick, and Monroe September 2020 unemployment rate.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1605714906697-GJS4A9FMUZ731B9FEDEZ/%2311.JPG</image:loc>
      <image:title>Blog - The 8 Best Job Markets in the US: Measured By Covid Resiliency</image:title>
      <image:caption>Minneapolis/St. Paul unemployment rated compared to other MSAs.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1605715100200-1QN1GJPC18NJGOZ87ARO/%2312.JPG</image:loc>
      <image:title>Blog - The 8 Best Job Markets in the US: Measured By Covid Resiliency</image:title>
      <image:caption>Minneapolis/St. Paul job growth compared to other MSAs.</image:caption>
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    <image:image>
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      <image:title>Blog - The 8 Best Job Markets in the US: Measured By Covid Resiliency</image:title>
      <image:caption>Minneapolis/St. Paul labor force growth compared to other MSAs.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1605795548104-51QN9Z66X17CLQVIDGF1/image-asset.jpeg</image:loc>
      <image:title>Blog - The 8 Best Job Markets in the US: Measured By Covid Resiliency</image:title>
      <image:caption>Summary of occupations and wages in Idaho.</image:caption>
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    <image:image>
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      <image:title>Blog - The 8 Best Job Markets in the US: Measured By Covid Resiliency</image:title>
      <image:caption>Summary of employment, occupations, and wages in Twin Falls, Idaho.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1605795942941-77VZXWEU8VQVUZ8Y37YP/%2316.JPG</image:loc>
      <image:title>Blog - The 8 Best Job Markets in the US: Measured By Covid Resiliency</image:title>
      <image:caption>Sorting data by Idaho cities.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1605796019056-0HMAVBZNR9OEI7TXYD9K/%2317.JPG</image:loc>
      <image:title>Blog - The 8 Best Job Markets in the US: Measured By Covid Resiliency</image:title>
      <image:caption>Regional labor force comparison from 2005 to 2020.</image:caption>
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    <image:image>
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      <image:title>Blog - The 8 Best Job Markets in the US: Measured By Covid Resiliency</image:title>
      <image:caption>Regional employment comparison from 2005 to 2020.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1605796137415-AGJRGE90ITLU0ETKZS8B/%2319.JPG</image:loc>
      <image:title>Blog - The 8 Best Job Markets in the US: Measured By Covid Resiliency</image:title>
      <image:caption>Regional unemployment comparison from 2005 to 2020.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1605883373446-UKA35GI9NMLVQH95S57U/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - The 8 Best Job Markets in the US: Measured By Covid Resiliency</image:title>
      <image:caption>Get access to free proforma excel templates.</image:caption>
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    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-03-07</lastmod>
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      <image:title>Blog - Tracking Unemployment Trends</image:title>
      <image:caption>2020 monthly unemployment rate comparison.</image:caption>
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    <image:image>
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      <image:title>Blog - Tracking Unemployment Trends</image:title>
      <image:caption>2020 monthly labor force comparison.</image:caption>
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    <image:image>
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      <image:title>Blog - Tracking Unemployment Trends</image:title>
      <image:caption>September and October unemployment.</image:caption>
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      <image:title>Blog - Tracking Unemployment Trends</image:title>
      <image:caption>2020 monthly employment comparison.</image:caption>
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      <image:title>Blog - Tracking Unemployment Trends</image:title>
      <image:caption>2020 national labor force graph.</image:caption>
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      <image:title>Blog - Tracking Unemployment Trends</image:title>
      <image:caption>10-year national labor force graph.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1605199751526-KS58UW5YPM95IL64GEEX/%236.JPG</image:loc>
      <image:title>Blog - Tracking Unemployment Trends</image:title>
      <image:caption>census.gov quick comparison feature.</image:caption>
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      <image:title>Blog - Tracking Unemployment Trends</image:title>
      <image:caption>Free excel proforma template vault access.</image:caption>
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  <url>
    <loc>https://www.tacticares.com/blog-feed/labor-statistics-in-the-united-states</loc>
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    <priority>0.5</priority>
    <lastmod>2025-03-07</lastmod>
    <image:image>
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      <image:title>Blog - Labor Statistics in the United States</image:title>
      <image:caption>Summary of population data.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1602951766495-DT81TKDEN97RA80NR0NT/%232.JPG</image:loc>
      <image:title>Blog - Labor Statistics in the United States</image:title>
      <image:caption>Summary of gross employment data.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1602951793218-YF2RM1XP0QLJ2BJW6NYI/%233.JPG</image:loc>
      <image:title>Blog - Labor Statistics in the United States</image:title>
      <image:caption>Summary of gross unemployment data.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1603119552916-FUXNO9X99AU4S0KCN8EU/%233.JPG</image:loc>
      <image:title>Blog - Labor Statistics in the United States</image:title>
      <image:caption>Summary of labor force population data.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1602951842617-CIOVVD0VJ2FJ38X0HTHU/%235.JPG</image:loc>
      <image:title>Blog - Labor Statistics in the United States</image:title>
      <image:caption>Summary of employee participation rate data.</image:caption>
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      <image:title>Blog - Labor Statistics in the United States</image:title>
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      <image:title>Blog - Labor Statistics in the United States</image:title>
      <image:caption>Summary of unemployment rate data.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1603115307954-TQ55HWOSKK8YXAK5JVZI/%237.JPG</image:loc>
      <image:title>Blog - Labor Statistics in the United States</image:title>
      <image:caption>Summary of gross median wage data.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1603115347565-XKA1UM4OZLWZ6R7TMGW9/%238.JPG</image:loc>
      <image:title>Blog - Labor Statistics in the United States</image:title>
      <image:caption>Summary of median wages and employees by occupation.</image:caption>
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      <image:title>Blog - Labor Statistics in the United States</image:title>
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  <url>
    <loc>https://www.tacticares.com/blog-feed/underwrite-multifamily-properties-incomplete-financials</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-01-19</lastmod>
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      <image:title>Blog - How to Underwrite Multifamily Properties With Incomplete Financials</image:title>
      <image:caption>T12 financial statement.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1602258952660-P568OKC2G8YBVUFZ38J0/%232.JPG</image:loc>
      <image:title>Blog - How to Underwrite Multifamily Properties With Incomplete Financials</image:title>
      <image:caption>T3/T12 operating data.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1602258990627-0AALZD4WNOQH9V4GHELD/%233.JPG</image:loc>
      <image:title>Blog - How to Underwrite Multifamily Properties With Incomplete Financials</image:title>
      <image:caption>T12 financials not broken down monthly.</image:caption>
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    <image:image>
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      <image:title>Blog - How to Underwrite Multifamily Properties With Incomplete Financials - Make it stand out</image:title>
      <image:caption>T12 historical information is entered into Columns “G” and “H.”</image:caption>
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    <image:image>
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      <image:title>Blog - How to Underwrite Multifamily Properties With Incomplete Financials</image:title>
      <image:caption>T9 financials.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1602261392432-GHOP7DUFRUTTKMX14D45/%235.jpg</image:loc>
      <image:title>Blog - How to Underwrite Multifamily Properties With Incomplete Financials</image:title>
      <image:caption>T9 data inputted into Excel template.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1602259356318-VMK8HV7UHIXQH5TTKH6Z/%236.JPG</image:loc>
      <image:title>Blog - How to Underwrite Multifamily Properties With Incomplete Financials</image:title>
      <image:caption>Formula to annualize T9 data.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1602259392657-XSXUYACQ8V84MGY36DN8/%237.JPG</image:loc>
      <image:title>Blog - How to Underwrite Multifamily Properties With Incomplete Financials</image:title>
      <image:caption>T9 revenue inputted into the financial model.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1602259505607-VWE7BNAPDC4JOH3BA6X6/%238.JPG</image:loc>
      <image:title>Blog - How to Underwrite Multifamily Properties With Incomplete Financials</image:title>
      <image:caption>T9 annualized NOI.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1602259550544-Z2RXSBMOOQDEOU4W2D9N/%239.JPG</image:loc>
      <image:title>Blog - How to Underwrite Multifamily Properties With Incomplete Financials</image:title>
      <image:caption>T4 financials.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1602260069283-M8LS2A9AH3ENJESARGMR/%2310.JPG</image:loc>
      <image:title>Blog - How to Underwrite Multifamily Properties With Incomplete Financials</image:title>
      <image:caption>2018 historical financials.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1602260129122-0NZW4PZCM6E8YL0AD7V0/%2311.JPG</image:loc>
      <image:title>Blog - How to Underwrite Multifamily Properties With Incomplete Financials</image:title>
      <image:caption>2019 financials inputted into the template.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1602260168100-OCMU5TJ58SB74ERUEFL8/%2312.JPG</image:loc>
      <image:title>Blog - How to Underwrite Multifamily Properties With Incomplete Financials</image:title>
      <image:caption>T4 historical financials inputted into the template.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1602260231940-7F383YHY9M4FPZI0BB7S/%2313.JPG</image:loc>
      <image:title>Blog - How to Underwrite Multifamily Properties With Incomplete Financials</image:title>
      <image:caption>T4/2019 financial summary.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1602260296406-L8DR0QPRNHET2J524PD0/%2314.JPG</image:loc>
      <image:title>Blog - How to Underwrite Multifamily Properties With Incomplete Financials</image:title>
      <image:caption>Blank historical financials section of the underwriting template.</image:caption>
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    <image:image>
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      <image:title>Blog - How to Underwrite Multifamily Properties With Incomplete Financials</image:title>
      <image:caption>FY1 financials with operating revenue and operating expense assumptions to the right.</image:caption>
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    <image:image>
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      <image:title>Blog - How to Underwrite Multifamily Properties With Incomplete Financials</image:title>
      <image:caption>Free excel template vault banner.</image:caption>
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  <url>
    <loc>https://www.tacticares.com/blog-feed/multifamily-analysis-t12-financial-statements</loc>
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    <priority>0.5</priority>
    <lastmod>2024-06-14</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1601998431607-K2YL6Y22B5WJ0G9QFCUQ/%231.JPG</image:loc>
      <image:title>Blog - Multifamily Analysis: Why You Should Always Request T12 Financials</image:title>
      <image:caption>Trailing 12-month financials</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1601998493013-Y7WLD2OF3TYNBHORDP5U/%232.JPG</image:loc>
      <image:title>Blog - Multifamily Analysis: Why You Should Always Request T12 Financials</image:title>
      <image:caption>T12 financials highlighting the NOI trend.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1601998529838-LQTIEJMUXPI8U64ZV859/%233.JPG</image:loc>
      <image:title>Blog - Multifamily Analysis: Why You Should Always Request T12 Financials</image:title>
      <image:caption>T3/T12 monthly financials.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1601998563618-7QL6TDKU98ESWMS76BV3/%234.JPG</image:loc>
      <image:title>Blog - Multifamily Analysis: Why You Should Always Request T12 Financials</image:title>
      <image:caption>Comparing T3/12 financials to TTM financials.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1601998602085-QIZZG12M13E4QNBY1PJT/%235.JPG</image:loc>
      <image:title>Blog - Multifamily Analysis: Why You Should Always Request T12 Financials</image:title>
      <image:caption>T12 financials with emphasis on utilities expense.</image:caption>
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    <image:image>
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      <image:title>Blog - Multifamily Analysis: Why You Should Always Request T12 Financials</image:title>
      <image:caption>T12 financials with emphasis on miscellaneous income.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1601998684547-19BAYJQZJXUR9E4F596O/%237.JPG</image:loc>
      <image:title>Blog - Multifamily Analysis: Why You Should Always Request T12 Financials</image:title>
      <image:caption>One-time repair and maintenance expense in December of 2019.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1601998768936-RMKQEFPS9YD2OXLH0PEI/%238.JPG</image:loc>
      <image:title>Blog - Multifamily Analysis: Why You Should Always Request T12 Financials</image:title>
      <image:caption>T12 financials not broken down monthly.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1602004151455-W9GMRDV6C20ZKRLD6HUJ/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Multifamily Analysis: Why You Should Always Request T12 Financials</image:title>
      <image:caption>Get access to the free Excel proforma template vault.</image:caption>
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  <url>
    <loc>https://www.tacticares.com/blog-feed/investing-in-rental-properties-an-analysis-tutorial</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2023-12-29</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600894249565-3K43YT863QYVKZLLBMMP/%231.JPG</image:loc>
      <image:title>Blog - Investing in Rental Properties: An Analysis Tutorial</image:title>
      <image:caption>General property information.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600894289580-WYSXXKFZ1ZDIAT5W85NV/%232.JPG</image:loc>
      <image:title>Blog - Investing in Rental Properties: An Analysis Tutorial</image:title>
      <image:caption>Purchase price and other closing costs.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600966154078-IQXM15Q6IXBSMXVVT7Q2/%233.JPG</image:loc>
      <image:title>Blog - Investing in Rental Properties: An Analysis Tutorial</image:title>
      <image:caption>Summary of financing terms.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600894350238-KW1K2D68VABNSHRU879Z/%234.JPG</image:loc>
      <image:title>Blog - Investing in Rental Properties: An Analysis Tutorial</image:title>
      <image:caption>Rental property sources and uses.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600894380390-N0O8MZUQXFPCPOBR25WW/%235.JPG</image:loc>
      <image:title>Blog - Investing in Rental Properties: An Analysis Tutorial</image:title>
      <image:caption>Summary of residual assumptions.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600894869360-4IFW01EWKZ3MNPNI9IK3/%2315.JPG</image:loc>
      <image:title>Blog - Investing in Rental Properties: An Analysis Tutorial</image:title>
      <image:caption>IRR, equity multiple, and cash on cash return summary.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600894909026-DLJVVJVGSFJ2YN6OR0X4/%2316.JPG</image:loc>
      <image:title>Blog - Investing in Rental Properties: An Analysis Tutorial</image:title>
      <image:caption>Cash needed from real estate investor.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600894957958-01P8ACNC44RLC7THL94U/%2317.JPG</image:loc>
      <image:title>Blog - Investing in Rental Properties: An Analysis Tutorial</image:title>
      <image:caption>Gross rent multiplier comparison.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600895009078-RZBAAEVNV7ALVFSARQ1O/%2318.JPG</image:loc>
      <image:title>Blog - Investing in Rental Properties: An Analysis Tutorial</image:title>
      <image:caption>Summary of NOI, cash flow after debt, and debt coverage.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600895046240-EDWPW43BVZR2WOMD0U5L/%2319.JPG</image:loc>
      <image:title>Blog - Investing in Rental Properties: An Analysis Tutorial</image:title>
      <image:caption>Rental property investment dashboard.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600894404897-5UVWIE1JJ2TR1SIT6VTZ/%236.JPG</image:loc>
      <image:title>Blog - Investing in Rental Properties: An Analysis Tutorial</image:title>
      <image:caption>CAPEX budgeting summary.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600894436664-JK2MOE672RCN0JM7B28O/%237.JPG</image:loc>
      <image:title>Blog - Investing in Rental Properties: An Analysis Tutorial</image:title>
      <image:caption>Pperating revenue assumptions for proforma.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600894479924-QH1FKXXJIKFIJ84I148X/%238.JPG</image:loc>
      <image:title>Blog - Investing in Rental Properties: An Analysis Tutorial</image:title>
      <image:caption>Summary of inherited rental leases and rental rates.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600894523899-YTIPNQH3PFVF3TJ1NT7L/%239.JPG</image:loc>
      <image:title>Blog - Investing in Rental Properties: An Analysis Tutorial</image:title>
      <image:caption>Operating expense assumptions for proforma.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600894569334-011DWGISI9CFAWJ27GU2/%2310.JPG</image:loc>
      <image:title>Blog - Investing in Rental Properties: An Analysis Tutorial</image:title>
      <image:caption>All proforma operating revenue and expense assumptions.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600894633071-LS8V9BAXO6AXS7O46C2T/%2311.JPG</image:loc>
      <image:title>Blog - Investing in Rental Properties: An Analysis Tutorial</image:title>
      <image:caption>Year 1 proforma NOI monthly and annually.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600894694298-2VWBYB3Z1OTRAEW2H2AB/%2312.JPG</image:loc>
      <image:title>Blog - Investing in Rental Properties: An Analysis Tutorial</image:title>
      <image:caption>Summary of NOI spanning ten years.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600894767231-VL6FYOWQH06P33TK2QYR/%2313.JPG</image:loc>
      <image:title>Blog - Investing in Rental Properties: An Analysis Tutorial</image:title>
      <image:caption>Summary of returns with 17.56% IRR highlighted.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600894816078-XE3YBWBD6SOJCYB0FFE5/%2314.JPG</image:loc>
      <image:title>Blog - Investing in Rental Properties: An Analysis Tutorial</image:title>
      <image:caption>Summary of returns with 18.51% IRR highlighted.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600964173292-BMY0WZQ4EFJXLUVZGQGY/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Investing in Rental Properties: An Analysis Tutorial</image:title>
      <image:caption>Free proforma excel template vault banner.</image:caption>
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  <url>
    <loc>https://www.tacticares.com/blog-feed/calculating-interest-reserve-construction-loan</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-06-14</lastmod>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/9ffe6cdf-32a7-4949-bb62-f606d3afcf3b/construction+loan+calculator.jpg</image:loc>
      <image:title>Blog - Calculating the Interest Reserve on a Construction Loan - Make it stand out</image:title>
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      <image:title>Blog - Calculating the Interest Reserve on a Construction Loan</image:title>
      <image:caption>Construction budget with interest reserve highlighted.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600308667242-8WQPZFTOWCDOCRRQH0E6/%232.JPG</image:loc>
      <image:title>Blog - Calculating the Interest Reserve on a Construction Loan</image:title>
      <image:caption>Interest expense each month.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600308696551-IH2NXIYNMPO6JWZSPLRW/%233.JPG</image:loc>
      <image:title>Blog - Calculating the Interest Reserve on a Construction Loan</image:title>
      <image:caption>Operating shortfall of $0.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600308728947-VSFJF7HPMRUEZ4LT7V4I/%234.JPG</image:loc>
      <image:title>Blog - Calculating the Interest Reserve on a Construction Loan</image:title>
      <image:caption>Construction budget with added line item “interest reserve contingency.”</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600308792559-4P801OLK9F9DAOB3X67H/%235.JPG</image:loc>
      <image:title>Blog - Calculating the Interest Reserve on a Construction Loan</image:title>
      <image:caption>Interest reserve contingency funded in month one.</image:caption>
    </image:image>
    <image:image>
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      <image:title>Blog - Calculating the Interest Reserve on a Construction Loan</image:title>
      <image:caption>Free proforma Excel templates.</image:caption>
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  </url>
  <url>
    <loc>https://www.tacticares.com/blog-feed/analyzing-fix-and-flip-deals</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2023-12-29</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600012706538-0FI5LJPB99WVTMZ1X4ZE/%231.JPG</image:loc>
      <image:title>Blog - Analyzing Fix &amp;amp; Flip Deals</image:title>
      <image:caption>Itemized rehab budget.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600012762724-BOTVJMV6IIFGSIU9Y5UX/%232.JPG</image:loc>
      <image:title>Blog - Analyzing Fix &amp;amp; Flip Deals</image:title>
      <image:caption>Monthly rehab budget.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600012806948-PWE596TTK43P67JTGE3S/%233.JPG</image:loc>
      <image:title>Blog - Analyzing Fix &amp;amp; Flip Deals</image:title>
      <image:caption>Summary of interest expense and construction draws.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600012841142-HAG8VF22ZX02CXZ1XNFN/%234.JPG</image:loc>
      <image:title>Blog - Analyzing Fix &amp;amp; Flip Deals</image:title>
      <image:caption>Cash management and equity requirements.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600012874815-NXZIW29WIGVZNP1PYF1S/%235.JPG</image:loc>
      <image:title>Blog - Analyzing Fix &amp;amp; Flip Deals</image:title>
      <image:caption>Holding costs during rehab.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600012905732-RD4VM0J5PZLX5744SY0Z/%236.JPG</image:loc>
      <image:title>Blog - Analyzing Fix &amp;amp; Flip Deals</image:title>
      <image:caption>Purchase price, rehab budget, loans costs, closing costs, and equity requirement.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600012958913-ECWUD0IGHANRBXSLHLSV/%237.JPG</image:loc>
      <image:title>Blog - Analyzing Fix &amp;amp; Flip Deals</image:title>
      <image:caption>Construction loan assumptions.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600013019351-AKTAWVS1QH8N8TPBM7U6/%238.JPG</image:loc>
      <image:title>Blog - Analyzing Fix &amp;amp; Flip Deals</image:title>
      <image:caption>7-month fix and flip proforma analysis.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600975711042-SB5S7Y0RVREQ5YMPDOSB/%2310.JPG</image:loc>
      <image:title>Blog - Analyzing Fix &amp;amp; Flip Deals</image:title>
      <image:caption>Stabilized operations proforma.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600975912964-BY5H9GB0MF6TILZ22POI/%2311.JPG</image:loc>
      <image:title>Blog - Analyzing Fix &amp;amp; Flip Deals</image:title>
      <image:caption>Stabilized operations Year 1</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600975959032-RVBGSLYHAZYQ4SWDHTDY/%2312.JPG</image:loc>
      <image:title>Blog - Analyzing Fix &amp;amp; Flip Deals</image:title>
      <image:caption>10-year operating cash flows.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600975994302-I98H77AQP5SUPWV5I7G5/%2313.JPG</image:loc>
      <image:title>Blog - Analyzing Fix &amp;amp; Flip Deals</image:title>
      <image:caption>Conventional financing assumptions at refinance.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600976025906-OCYF0M4RX5EZ6R349X0O/%2314.JPG</image:loc>
      <image:title>Blog - Analyzing Fix &amp;amp; Flip Deals</image:title>
      <image:caption>Refinance metrics and return metrics.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600976055294-GGI54VFXG2KVHY81E9EE/%2315.JPG</image:loc>
      <image:title>Blog - Analyzing Fix &amp;amp; Flip Deals</image:title>
      <image:caption>Residual sale assumptions.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1601046855307-LPOGB887H75ACMLHKSGY/%2316.jpg</image:loc>
      <image:title>Blog - Analyzing Fix &amp;amp; Flip Deals</image:title>
      <image:caption>Investment dashboard comparing fix and flip vs. hold.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1601047103195-GSFI88Z0AD63AKCBJ1RP/%239.JPG</image:loc>
      <image:title>Blog - Analyzing Fix &amp;amp; Flip Deals</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1601046901122-FNTRF5OEZFBXAGSBRWIA/%2317.jpg</image:loc>
      <image:title>Blog - Analyzing Fix &amp;amp; Flip Deals</image:title>
      <image:caption>Returns summary for a 10-year hold when fixing and holding.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1600024482729-VNS3SUWHWMEKKN2MY09F/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Analyzing Fix &amp;amp; Flip Deals</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.tacticares.com/blog-feed/maximizing-excel-goal-seek-tool-analyzing-real-estate</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2025-02-18</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1597869193331-PVE97GU4IBO7CF96VLPO/%231.JPG</image:loc>
      <image:title>Blog - Maximizing Excel's Goal Seek Tool When Analyzing Real Estate</image:title>
      <image:caption>Project level pricing metrics.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1597869228768-STRTO2CXLD7535SPWGWB/%232.JPG</image:loc>
      <image:title>Blog - Maximizing Excel's Goal Seek Tool When Analyzing Real Estate</image:title>
      <image:caption>Project level pricing metrics with emphasis on cash-on-cash yield.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1597869269639-H52QNPZ26EZMMVQB5ONW/%233.JPG</image:loc>
      <image:title>Blog - Maximizing Excel's Goal Seek Tool When Analyzing Real Estate</image:title>
      <image:caption>Where to find Goal Seek in Microsoft Excel.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1597869305865-BYPNAJFKM1ROG8IUFWBH/%234.JPG</image:loc>
      <image:title>Blog - Maximizing Excel's Goal Seek Tool When Analyzing Real Estate</image:title>
      <image:caption>Goal Seek dialogue box.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1597869345513-U9RRE53SHD4LB5HA0DLP/%235.JPG</image:loc>
      <image:title>Blog - Maximizing Excel's Goal Seek Tool When Analyzing Real Estate</image:title>
      <image:caption>Goal Seek dialog box-Setting cash-on-cash at 8% by changing price.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1597869431370-RD9SXKW9JIIHIZF45EE5/%236.JPG</image:loc>
      <image:title>Blog - Maximizing Excel's Goal Seek Tool When Analyzing Real Estate</image:title>
      <image:caption>Cash-on-cash of 8% requires paying $9.44 million.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1597869472846-EKNJBZ9Y3MGG24MK6PC8/%237.JPG</image:loc>
      <image:title>Blog - Maximizing Excel's Goal Seek Tool When Analyzing Real Estate</image:title>
      <image:caption>Goal Seek dialog box-Setting IRR at 16% by changing loan amount.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1597869514354-HM04F47XYNI12ELWNKAP/%238.JPG</image:loc>
      <image:title>Blog - Maximizing Excel's Goal Seek Tool When Analyzing Real Estate</image:title>
      <image:caption>80% loan-to-value achieves a 16% IRR.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1597869570489-7DLDIKZHICJCAKGEVSPS/%239.JPG</image:loc>
      <image:title>Blog - Maximizing Excel's Goal Seek Tool When Analyzing Real Estate</image:title>
      <image:caption>Goal Seek dialog box-Setting IRR at 16% by changing mortgage interest rate.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1597869616513-47P6NH589SBE95FEK858/%2310.JPG</image:loc>
      <image:title>Blog - Maximizing Excel's Goal Seek Tool When Analyzing Real Estate</image:title>
      <image:caption>Interest rate of 3.10% achieves a 16% IRR.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1597869653240-YVVK7TQG55FZAV3DIIQ6/%2311.JPG</image:loc>
      <image:title>Blog - Maximizing Excel's Goal Seek Tool When Analyzing Real Estate</image:title>
      <image:caption>Goal Seek dialog box-Setting IRR at 16% by changing purchase price.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1597869696740-6Q0KTNIDC0AOSVED8C4G/%2312.JPG</image:loc>
      <image:title>Blog - Maximizing Excel's Goal Seek Tool When Analyzing Real Estate</image:title>
      <image:caption>$12.15 million purchase price achieves a 16% IRR.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1597869738992-FZH6NG643OAIF6PZU9AR/%2313.JPG</image:loc>
      <image:title>Blog - Maximizing Excel's Goal Seek Tool When Analyzing Real Estate</image:title>
      <image:caption>Residual cap rate that determines property appreciation.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1597869768580-Z2ZEDKSUCMZ810FNVZRM/%2314.JPG</image:loc>
      <image:title>Blog - Maximizing Excel's Goal Seek Tool When Analyzing Real Estate</image:title>
      <image:caption>Goal Seek dialog box-Setting IRR to 14% by changing residual cap rate increment.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1597869815171-WI3X8YZR5RUV9QSXCECC/%2315.JPG</image:loc>
      <image:title>Blog - Maximizing Excel's Goal Seek Tool When Analyzing Real Estate</image:title>
      <image:caption>Residual cap rate increment of 0.19% achieves a 14% IRR.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1597869911429-VNU95G2FTFPJQPD8HMDJ/%2317.JPG</image:loc>
      <image:title>Blog - Maximizing Excel's Goal Seek Tool When Analyzing Real Estate</image:title>
      <image:caption>Goal Seek dialog box-Setting GP net profit to $1.5 million by changing preferred return.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1597869959970-HEA7ZSXEQ5QLPEWIN6R5/%2318.JPG</image:loc>
      <image:title>Blog - Maximizing Excel's Goal Seek Tool When Analyzing Real Estate</image:title>
      <image:caption>Preferred return of 4.71% achieves $1.5 million in GP net profit.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1599860649610-CWQ3EJ3MMFO929485RZR/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Maximizing Excel's Goal Seek Tool When Analyzing Real Estate</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.tacticares.com/blog-feed/hard-money-loans-practical-explanation</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2023-12-29</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1596681765523-ZFNJJXI0AKXVAD26OG5R/%231.JPG</image:loc>
      <image:title>Blog - Hard Money Loans: A Practical Real-World Explanation</image:title>
      <image:caption>Renovation budget and construction timeline.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1596681714040-FHY3SKZDOG1KBKMY0L94/%232.JPG</image:loc>
      <image:title>Blog - Hard Money Loans: A Practical Real-World Explanation</image:title>
      <image:caption>Pperating expenses (hold costs).</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1596681789593-Q8UKH3M4X3BMP4XEM2DT/%233.JPG</image:loc>
      <image:title>Blog - Hard Money Loans: A Practical Real-World Explanation</image:title>
      <image:caption>Fix and flip proforma.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1596681993772-PKHSFGLU66CLAYH1M2VZ/%238.JPG</image:loc>
      <image:title>Blog - Hard Money Loans: A Practical Real-World Explanation</image:title>
      <image:caption>Hard money loan summary.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1596682089741-JH1JHWTUHM5O087BGXH7/%234.JPG</image:loc>
      <image:title>Blog - Hard Money Loans: A Practical Real-World Explanation</image:title>
      <image:caption>Fix and flip sources and uses.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1596682140283-OM0KCZI1BNQFTGHRJFOX/%235.JPG</image:loc>
      <image:title>Blog - Hard Money Loans: A Practical Real-World Explanation</image:title>
      <image:caption>Loan draws by month.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/8c957d51-dd2b-48c5-bb19-0cf58a454a01/%2310.JPG</image:loc>
      <image:title>Blog - Hard Money Loans: A Practical Real-World Explanation</image:title>
      <image:caption>Cash management summary.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1596682176298-BS0NMOPT3U1WZW9S3898/%236.JPG</image:loc>
      <image:title>Blog - Hard Money Loans: A Practical Real-World Explanation</image:title>
      <image:caption>Cost of loan draws and interest rate of hard money loan.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/76190620-772d-435c-a54b-7f8ed0e6eb71/%237.JPG</image:loc>
      <image:title>Blog - Hard Money Loans: A Practical Real-World Explanation</image:title>
      <image:caption>Summary of construction budget, loan draws, interest payable, and draw costs.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1596682285823-M6QU956KBNNGPZNHXCIX/%238.JPG</image:loc>
      <image:title>Blog - Hard Money Loans: A Practical Real-World Explanation</image:title>
      <image:caption>Summary of financing terms.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1596682333551-MQE6NVHE8HZEQHRGFERZ/%239.JPG</image:loc>
      <image:title>Blog - Hard Money Loans: A Practical Real-World Explanation</image:title>
      <image:caption>Fix and flip 7-month proforma analysis.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1596732206659-6P1X3634SSFRZP2PT1UX/%2311.JPG</image:loc>
      <image:title>Blog - Hard Money Loans: A Practical Real-World Explanation</image:title>
      <image:caption>Summary of IRR cash flows.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1599861352926-KBO50966262VPB0JZ5E5/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Hard Money Loans: A Practical Real-World Explanation</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.tacticares.com/blog-feed/rental-property-analysis-excel-template</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2023-12-29</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/354a567f-fd3b-4391-9f4b-591044c3c236/Rental-Property-analysis.png</image:loc>
      <image:title>Blog - Rental Property Analysis Excel Template</image:title>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1595428408320-1PTYKVDUEV93CLC6OIS9/%231.JPG</image:loc>
      <image:title>Blog - Rental Property Analysis Excel Template</image:title>
      <image:caption>General property information.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1595428436436-1C7TX41OR8VU2VFJFZ6S/%232.JPG</image:loc>
      <image:title>Blog - Rental Property Analysis Excel Template</image:title>
      <image:caption>Summary of pricing, mortgage terms, and cash needed.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1595428486499-7WM6DVY3MV92KSJW1SX2/%233.JPG</image:loc>
      <image:title>Blog - Rental Property Analysis Excel Template</image:title>
      <image:caption>Capital expenditure budget.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1595428521755-QVGRGBF49X106DX8YYEI/%234.JPG</image:loc>
      <image:title>Blog - Rental Property Analysis Excel Template</image:title>
      <image:caption>Operating revenues, operating expenses, NOI, loan payments, and cash flow summary.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1595428581663-25CPRPOD38I32IJ90C8T/%235.JPG</image:loc>
      <image:title>Blog - Rental Property Analysis Excel Template</image:title>
      <image:caption>Current property taxes and future real estate taxes post-sale.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1595428635690-52TTPHP9US9M0KCES8LN/%236.JPG</image:loc>
      <image:title>Blog - Rental Property Analysis Excel Template</image:title>
      <image:caption>Property return metrics, cost basis, expense ratio, and DSCR.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1599862668023-YNYIFJ1S7Q9U5RJY6JW2/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Rental Property Analysis Excel Template</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.tacticares.com/blog-feed/multifamily-value-add-stressing-apartment-renovation-plan</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2023-12-29</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594847110185-GQKX9WL2F58EZMBYKU4T/%231.JPG</image:loc>
      <image:title>Blog - Multifamily Value-Add: Stressing Apartment Renovation Plan</image:title>
      <image:caption>Renovation Stress Test.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594847151354-KESM9OVNPKK2Q03TCXC9/%232.JPG</image:loc>
      <image:title>Blog - Multifamily Value-Add: Stressing Apartment Renovation Plan</image:title>
      <image:caption>Toggling IRR, equity multiple and average annual return.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594847224179-1WP62ICZ028MP08WHK4N/%233.JPG</image:loc>
      <image:title>Blog - Multifamily Value-Add: Stressing Apartment Renovation Plan</image:title>
      <image:caption>Stress test with emphasis on best-case and worst-case IRR.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594847480359-JXUPX2MT3UCGBFP4ZCIP/%234.JPG</image:loc>
      <image:title>Blog - Multifamily Value-Add: Stressing Apartment Renovation Plan</image:title>
      <image:caption>IRR during a 5-year investment hold.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594847501649-422RECQE81CVAZNTE246/%234.1.JPG</image:loc>
      <image:title>Blog - Multifamily Value-Add: Stressing Apartment Renovation Plan</image:title>
      <image:caption>IRR during a 10-year investment hold.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594847786651-5AJGL94IY87ROSDOIMMR/%235.JPG</image:loc>
      <image:title>Blog - Multifamily Value-Add: Stressing Apartment Renovation Plan</image:title>
      <image:caption>IRRs if rental premium were to go negative.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594847835089-5WIBDWFEQGCET3U793MS/%236.JPG</image:loc>
      <image:title>Blog - Multifamily Value-Add: Stressing Apartment Renovation Plan</image:title>
      <image:caption>Controlling capital spend interval.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594847981026-SIH5QV4N6VDLPS32B0WQ/%237.JPG</image:loc>
      <image:title>Blog - Multifamily Value-Add: Stressing Apartment Renovation Plan</image:title>
      <image:caption>IRRs when renovation is completed in one year.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594848030080-I0OUKO9XYXMEG7BGN18P/%237.1.JPG</image:loc>
      <image:title>Blog - Multifamily Value-Add: Stressing Apartment Renovation Plan</image:title>
      <image:caption>IRRs when renovation takes four years to complete.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1599862751173-UDBD63WV3EDMBGGX5F35/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Multifamily Value-Add: Stressing Apartment Renovation Plan</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.tacticares.com/blog-feed/negative-interest-rates-commercial-mortgages</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-09-19</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/7a768f65-afe3-43ac-9cc1-12eb651e592e/10-year+treasury.jpg</image:loc>
      <image:title>Blog - Exploring Negative Interest Rates &amp;amp; Commercial Mortgages - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594251968456-Z0RVX1QMM30BPWZ2UWH4/%231.JPG</image:loc>
      <image:title>Blog - Exploring Negative Interest Rates &amp;amp; Commercial Mortgages</image:title>
      <image:caption>Year 1 of loan amortization showing negative interest and total payment.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594252024773-P2PIVXNW61ZZ4LIPDIKO/%232.JPG</image:loc>
      <image:title>Blog - Exploring Negative Interest Rates &amp;amp; Commercial Mortgages</image:title>
      <image:caption>Table of payment difference between positive and negative interest rates.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594252073572-XMKKMQ98SNXV03XBQMGW/%233.JPG</image:loc>
      <image:title>Blog - Exploring Negative Interest Rates &amp;amp; Commercial Mortgages</image:title>
      <image:caption>Table showing cost savings for interest rates spanning from positive 3% to negative 3%.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594252142663-BCFA2FOVPF82Q8TRGGLB/%234.JPG</image:loc>
      <image:title>Blog - Exploring Negative Interest Rates &amp;amp; Commercial Mortgages</image:title>
      <image:caption>Table showing annual cash flow and debt service coverage ratios from different interest rates</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594252199492-DOJEQUTPRG9H43YUH5UF/%235.JPG</image:loc>
      <image:title>Blog - Exploring Negative Interest Rates &amp;amp; Commercial Mortgages</image:title>
      <image:caption>Table showing leveraged IRRs for different positive and negative mortgage interest rates</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1599862859237-Z0WI1Y43P1G0H9BQ8N7P/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Exploring Negative Interest Rates &amp;amp; Commercial Mortgages</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://www.tacticares.com/blog-feed/carried-interest-partnership-template-for-active-real-estate-investors</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2023-12-29</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/557cfd6b-087d-4d09-8dd1-c5273dc5fcdc/Carried-Interest+partnership.png</image:loc>
      <image:title>Blog - Carried Interest Partnership Template - For Active Real Estate Investors</image:title>
      <image:caption>Partnership distribution Excel model displayed on mac book screen.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1593720610068-6W9NNZZKCOV221MIM64S/%231.JPG</image:loc>
      <image:title>Blog - Carried Interest Partnership Template - For Active Real Estate Investors</image:title>
      <image:caption>Project cash flows</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1593720628694-ZTT3A7W33EWS8I9FBMHU/%232.JPG</image:loc>
      <image:title>Blog - Carried Interest Partnership Template - For Active Real Estate Investors</image:title>
      <image:caption>Partners all contributing Pari-Passu</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1593721681907-70A96008PTLIDDRNNVNP/%233.JPG</image:loc>
      <image:title>Blog - Carried Interest Partnership Template - For Active Real Estate Investors</image:title>
      <image:caption>Partner A with a 5% carried interest</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1593721699136-S8FWDA90X6EMQOEOMSU2/%234.JPG</image:loc>
      <image:title>Blog - Carried Interest Partnership Template - For Active Real Estate Investors</image:title>
      <image:caption>Partner A with a 5% carried interest and Partner B subsidizing all of it.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1593721717115-JD76KMOL5GR5OFSZGVMM/%235.JPG</image:loc>
      <image:title>Blog - Carried Interest Partnership Template - For Active Real Estate Investors</image:title>
      <image:caption>Cells glow red when there is an error.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1593721733831-HQYJPBSJ5MZGPSGATJOZ/%236.JPG</image:loc>
      <image:title>Blog - Carried Interest Partnership Template - For Active Real Estate Investors</image:title>
      <image:caption>Partner A with a 10% carried interest.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1593721750241-906C8W5IQN8UDGMTZDJK/%237.JPG</image:loc>
      <image:title>Blog - Carried Interest Partnership Template - For Active Real Estate Investors</image:title>
      <image:caption>Partner B subsidizing both Partner A and Partner B’s carried interests.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1593789037065-2FITSRU2OG89WTLJB0T5/%238.JPG</image:loc>
      <image:title>Blog - Carried Interest Partnership Template - For Active Real Estate Investors</image:title>
      <image:caption>Full view of partnership distribution model.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1593721785471-LTUZ3ZZC3XSRGOEVQXTS/%239.JPG</image:loc>
      <image:title>Blog - Carried Interest Partnership Template - For Active Real Estate Investors</image:title>
      <image:caption>Partner D is awarded a 5% carried interest.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1593789055929-BAZBZYQKZURC5DINHB0F/%2310.JPG</image:loc>
      <image:title>Blog - Carried Interest Partnership Template - For Active Real Estate Investors</image:title>
      <image:caption>Full view of partnership distribution model with Partner D included.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1599868056935-BN1VU1C55GR81RDSQH2D/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Carried Interest Partnership Template - For Active Real Estate Investors</image:title>
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    <priority>0.5</priority>
    <lastmod>2023-12-29</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1592090499298-S91FSR6SVLQF8B3ORIQT/%231.JPG</image:loc>
      <image:title>Blog - Real Estate Appreciation &amp;amp; Prudent Multifamily Underwriting</image:title>
      <image:caption>Summary of pricing with emphasis on holding period of 5 years.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1592090511960-PDWT94FHH3KTL3NJPL9I/%232.JPG</image:loc>
      <image:title>Blog - Real Estate Appreciation &amp;amp; Prudent Multifamily Underwriting</image:title>
      <image:caption>Summary of residual assumptions and appreciation.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1592090581843-AO9HMM8I9ZV9XI77MM3I/%233.JPG</image:loc>
      <image:title>Blog - Real Estate Appreciation &amp;amp; Prudent Multifamily Underwriting</image:title>
      <image:caption>Summary of closings costs and residual cap rate.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1592090616753-ZDFL1MY2ZO7W0GBQZVLT/%234.JPG</image:loc>
      <image:title>Blog - Real Estate Appreciation &amp;amp; Prudent Multifamily Underwriting</image:title>
      <image:caption>Pricing summary with emphasis on leveraged IRR and equity multiple.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1592090661890-W1V3C17FK13PUOKP6NQ9/%235.JPG</image:loc>
      <image:title>Blog - Real Estate Appreciation &amp;amp; Prudent Multifamily Underwriting</image:title>
      <image:caption>Goal Seek function solving for 0% appreciation by changing residual cap rate.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1592090959951-JY2WH1U7OS1X7YE4FYQS/%236.JPG</image:loc>
      <image:title>Blog - Real Estate Appreciation &amp;amp; Prudent Multifamily Underwriting</image:title>
      <image:caption>Cap rate increases at 0.28% annually to equal 0% appreciation over investment hold.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1592090979436-0EG3RCYQ5PA925EJU9AZ/%237.JPG</image:loc>
      <image:title>Blog - Real Estate Appreciation &amp;amp; Prudent Multifamily Underwriting</image:title>
      <image:caption>Pricing summary with emphasis on IRR and equity multiple.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1614097099602-EAQT0HCBJO6AUYB422AP/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Real Estate Appreciation &amp;amp; Prudent Multifamily Underwriting</image:title>
      <image:caption>Free proforma excel templates</image:caption>
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  <url>
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    <lastmod>2024-12-05</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590160627477-R2UP6UG5IZMR12TAKESJ/%231.JPG</image:loc>
      <image:title>Blog - Multifamily Development: Modeling Conservatively</image:title>
      <image:caption>Summary of cash inflows and outflows for common JV structure.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590160868889-8O55GQG7QFIC5KA1PH9Y/%232.JPG</image:loc>
      <image:title>Blog - Multifamily Development: Modeling Conservatively</image:title>
      <image:caption>Summary of cash inflows and outflows depicted in the Tactica model.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590162578871-Z2E9EU4Q2AK1Z0SQNLUS/%233.JPG</image:loc>
      <image:title>Blog - Multifamily Development: Modeling Conservatively</image:title>
      <image:caption>Refinance proceeds received at the end of Year 3.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590163432088-FWOLD806ZGEYWVWGSKPV/%234.JPG</image:loc>
      <image:title>Blog - Multifamily Development: Modeling Conservatively</image:title>
      <image:caption>Adjusting refinance month in the Tactica model.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590163622381-34PU99RYHB89Q0JFI2F4/image-asset.jpeg</image:loc>
      <image:title>Blog - Multifamily Development: Modeling Conservatively</image:title>
      <image:caption>Refinance month adjusted to move refinance up to Year 2.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590166379662-HXLCL1WGVDS82K07803A/%236.JPG</image:loc>
      <image:title>Blog - Multifamily Development: Modeling Conservatively</image:title>
      <image:caption>Operating line-item assumptions begin in Year 4.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590166540611-7EDOBM345GAQB2Y5HI13/%237.JPG</image:loc>
      <image:title>Blog - Multifamily Development: Modeling Conservatively</image:title>
      <image:caption>Operating line-item assumptions begin in Year 3.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590167102309-6OQXW0Y3O9JR6B4VBOH6/%238.JPG</image:loc>
      <image:title>Blog - Multifamily Development: Modeling Conservatively</image:title>
      <image:caption>Permanent financing assumptions with emphasis on debt service coverage ratio.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590167141992-NLRNMMDZ9LQEI1AJ7LKN/%239.JPG</image:loc>
      <image:title>Blog - Multifamily Development: Modeling Conservatively</image:title>
      <image:caption>Debt Service Coverage Ratio graph by year.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1599868448508-5G7Q3O82CAQHQEFLYPNK/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Multifamily Development: Modeling Conservatively</image:title>
    </image:image>
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    <loc>https://www.tacticares.com/blog-feed/circular-references-real-estate-development</loc>
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    <lastmod>2024-03-15</lastmod>
    <image:image>
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      <image:title>Blog - Circular References: Real Estate Development</image:title>
      <image:caption>Example of a circular reference.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590189334285-B989596RGSINVWKEAU0I/%232.JPG</image:loc>
      <image:title>Blog - Circular References: Real Estate Development</image:title>
      <image:caption>How to enable iterative calculation in Excel</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1599868645824-QUMYLUXOR20KH0DLYX03/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Circular References: Real Estate Development</image:title>
    </image:image>
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  <url>
    <loc>https://www.tacticares.com/blog-feed/loan-to-cost-ltc-financing-how-to-underwrite-it</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-06-14</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594331032660-X0UQ02IS4FNJNXOBZK44/%231.JPG</image:loc>
      <image:title>Blog - Loan To Cost (LTC) Financing: How to Underwrite It</image:title>
      <image:caption>Financing Summary for Loan 1.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594331069345-C43VIDU74THCPKCWAXS2/%232.JPG</image:loc>
      <image:title>Blog - Loan To Cost (LTC) Financing: How to Underwrite It</image:title>
      <image:caption>Summary of sources and uses.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594331127913-JYAXFYC3OG0DIY7YZUZ2/%234.JPG</image:loc>
      <image:title>Blog - Loan To Cost (LTC) Financing: How to Underwrite It</image:title>
      <image:caption>Data validation in Excel to create a drop-down list to choose LTV or LTC.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594331206698-BXGW4UD89O5LTIX77GGL/%235.JPG</image:loc>
      <image:title>Blog - Loan To Cost (LTC) Financing: How to Underwrite It</image:title>
      <image:caption>LTV or LTC can be selected from the drop-down list.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594331269958-WU55QRK6V4BPS6BZAPQZ/%236.JPG</image:loc>
      <image:title>Blog - Loan To Cost (LTC) Financing: How to Underwrite It</image:title>
      <image:caption>Loan amount will change depending on whether LTC or LTV is selected.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594331329017-W5CDVTFICRXERG5VMYHI/%237.JPG</image:loc>
      <image:title>Blog - Loan To Cost (LTC) Financing: How to Underwrite It</image:title>
      <image:caption>Sources &amp; Uses will adjust accordingly depending LTC or LTV selection.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1599868745849-AOY2X47WCWS7NDAN3JI5/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Loan To Cost (LTC) Financing: How to Underwrite It</image:title>
    </image:image>
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  <url>
    <loc>https://www.tacticares.com/blog-feed/the-ultimate-guide-to-multifamily-value-add-underwriting</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-06-14</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/c9e56ebd-5805-46fc-9f90-1b42a00c0e9c/image.png</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/ec1b3f7c-e2e8-4df4-ba29-d2a001a5920c/Brown+vs.+Black+Text+cells.JPG</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting - Make it stand out</image:title>
      <image:caption>Brown text cells vs. black text cells example.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590599254568-B0EBA7X9UI0BGL5JYROO/%2318.JPG</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting</image:title>
      <image:caption>General Property Information</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590599277213-PMBPRZH66EHX9JQ0IHSD/%2319.JPG</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting</image:title>
      <image:caption>Unit Mix Summary pie chart.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590599303311-71NJNZPXRRCFU5KQI1KK/image-asset.jpeg</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting</image:title>
      <image:caption>Financing Assumptions for Loan 1 and Loan 2.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590599374405-SYZN5CG1LR4EC3D20Y37/%2327.JPG</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting</image:title>
      <image:caption>How to assume a loan with interest-only remaining.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590599405523-K8DIKN6PLROVNQYEQOEZ/%2328.JPG</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting</image:title>
      <image:caption>Where to chose how many loans you will use.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590599436162-TCPVJSLKAD3V0PSBDEWK/%2321.JPG</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting</image:title>
      <image:caption>Summary of rents and premiums.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590599462129-L2H1RBBF6I55DW6K64UG/%2322.JPG</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting</image:title>
      <image:caption>Summary of renovation plan.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590599483542-Z3AHP3PT8EZLFDZG093P/%2323.JPG</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting</image:title>
      <image:caption>Cash flow summary bar chart.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590599513675-SXH338BJDG9ZYDVGGXCK/%2324.JPG</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting</image:title>
      <image:caption>Summary of sources and uses.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590599538542-6AFF57LUF9USDSIQTVPX/%2329.JPG</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting</image:title>
      <image:caption>Where to input closing assumptions.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590599563130-5TH1O4M6XWEFEP1BNF28/%2325.JPG</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting</image:title>
      <image:caption>Project level return metrics</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590599592980-PVX0LSN0ZX1LUIIBRQ5G/%2330.JPG</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting</image:title>
      <image:caption>Summary of residual assumptions.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590599617602-KIOZL7KRLYK04EQUVA81/%2331.JPG</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting</image:title>
      <image:caption>Where to input closing costs and residual cap rate.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590599642307-UQO4WN5TTORIZT5LK7KU/%2326.JPG</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting</image:title>
      <image:caption>Partnership returns between the general partner and limited partner.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590599668062-JH6VQI2J1XJZ179FP84A/%2332.JPG</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting</image:title>
      <image:caption>Investment Summary dashboard.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590598522485-21ICM9NQO2YNMPBGQSUH/%231.JPG</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting</image:title>
      <image:caption>Unit mix summary table with premium and capital spend.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1612207294337-YVIUO0HEP82848LIAUVZ/%232.JPG</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting</image:title>
      <image:caption>Value-Add strategy.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590598660347-VCM3WIUDPE6EENK9Z4YR/%236.JPG</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting</image:title>
      <image:caption>Three-Year renovation plan.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590598687791-1T9NA9UYL5KJWSEHUA6D/%237.JPG</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting</image:title>
      <image:caption>Baseline rent growth assumptions.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590598755697-3WLHGCL8W1LBDTW6A3PR/%239.JPG</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting</image:title>
      <image:caption>Renovation results in annual cash flows.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/8dda40f5-7aa2-428b-9d2c-215c49320866/Historical+Inputs.jpg</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting</image:title>
      <image:caption>Historical financials: 2017, 2018 and trailing 12-month.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1590598887570-M1QNGDZBG2G3ASP73LSI/%2311.JPG</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting</image:title>
      <image:caption>Multiply factor input-financial tab.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/6b3cdcbc-22fe-44a2-9c8d-23bb81dac554/Historical+Trends.jpg</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting</image:title>
      <image:caption>Historical financial trends.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/66b5743a-d4c5-4a6b-bf75-62fc0016e9f8/FY1+Assumptions.jpg</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting</image:title>
      <image:caption>Underwriting assumptions Year 1.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/cba9f4a4-af8d-4ea2-a098-2b0b1d04d8f7/FY2+Assumptions.jpg</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting</image:title>
      <image:caption>Underwriting assumptions Year 2.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/6423770b-2abe-4ff4-b60e-10a81799ebb6/FY2+Assumption+w+3+inputs.jpg</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting</image:title>
      <image:caption>Example of a common assumption input mistake.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/5781c1c4-4e8f-44ad-8732-c2b78e76767f/FY3-FY11+Assumptions.jpg</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting</image:title>
      <image:caption>Underwriting assumptions Year 3 through Year 10.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/d6466442-e4dc-4c5e-b12d-16648a1251b5/FY1-FY11+Cash+Flows.jpg</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting</image:title>
      <image:caption>Proforma 10-year above the line cash flow.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1599868967887-9DGBNCUA3EFEXE8IIZU1/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - The Ultimate Guide to Multifamily Value-Add Underwriting</image:title>
      <image:caption>Tactica free multifamily Excel template displayed on laptop.</image:caption>
    </image:image>
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  <url>
    <loc>https://www.tacticares.com/blog-feed/partnership-distribution-structures-in-multifamily-real-estate</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-04-25</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594574131283-6MBGFEBYNWARLDBF8033/%231.JPG</image:loc>
      <image:title>Blog - Partnership Distribution Structures in Multifamily Real Estate</image:title>
      <image:caption>Pari Passu partnership cash flow distributions.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594574190282-BYG1AZMETB9WESPGXCCW/%232.JPG</image:loc>
      <image:title>Blog - Partnership Distribution Structures in Multifamily Real Estate</image:title>
      <image:caption>Profit Interest partnership cash flow distribution.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594574245109-XI7BH3YI3AB0LTV7OC14/%233.JPG</image:loc>
      <image:title>Blog - Partnership Distribution Structures in Multifamily Real Estate</image:title>
      <image:caption>GP and LP contribution percentages and GP promote percentages at sale.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594574339699-0NQ5HE0YQ2VFM77D098I/%234.JPG</image:loc>
      <image:title>Blog - Partnership Distribution Structures in Multifamily Real Estate</image:title>
      <image:caption>Partnership cash flow distributions for GP and LP using Sale Kicker method.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1599869042293-ROD2AJ3N118ZPREJS7F0/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Partnership Distribution Structures in Multifamily Real Estate</image:title>
      <image:caption>Tactica free multifamily Excel template displayed on laptop.</image:caption>
    </image:image>
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  <url>
    <loc>https://www.tacticares.com/blog-feed/aligning-the-multifamily-proforma-and-property-tax-calendars</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2023-12-29</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594574903422-KVKC5Q8CFA20S9HW4493/%231.JPG</image:loc>
      <image:title>Blog - Aligning the Multifamily Proforma and Property Tax Calendars</image:title>
      <image:caption>Property tax calendar spanning from 2020 to 2022.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594574984713-2CRWRSXRILMS8ENDUPUJ/%232.JPG</image:loc>
      <image:title>Blog - Aligning the Multifamily Proforma and Property Tax Calendars</image:title>
      <image:caption>Property tax calendar merged with the proforma Year 1 and Year 1 property tax payments.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594575037909-IAXYKL8NKD1GGT9Q8SPP/%233.JPG</image:loc>
      <image:title>Blog - Aligning the Multifamily Proforma and Property Tax Calendars</image:title>
      <image:caption>Property tax calendar aligned with the proforma real estate tax payments.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594575090722-E7P62WX1EZU5O5Y0BGEG/%234.JPG</image:loc>
      <image:title>Blog - Aligning the Multifamily Proforma and Property Tax Calendars</image:title>
      <image:caption>Real Estate Tax tab in Tactica underwriting template.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1599869118823-X0W9U82F7E5NEHSVZEG9/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Aligning the Multifamily Proforma and Property Tax Calendars</image:title>
      <image:caption>Tactica free multifamily Excel template displayed on laptop.</image:caption>
    </image:image>
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  <url>
    <loc>https://www.tacticares.com/blog-feed/underwriting-apartment-buildings-during-a-recession</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2023-12-29</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594575473326-AYPFT8YCWRR0BCF3XV1N/%231.JPG</image:loc>
      <image:title>Blog - Underwriting Apartment Buildings During a Recession</image:title>
      <image:caption>Property unit mix matrix.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594575511843-M1WOSRJ3PQO3Y6N4TJ6I/%232.JPG</image:loc>
      <image:title>Blog - Underwriting Apartment Buildings During a Recession</image:title>
      <image:caption>Underwriting assumptions for gross potential rent Year 1 through Year 11.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594575567512-XXTFU7UI4UEFDHQJIMUC/%233.JPG</image:loc>
      <image:title>Blog - Underwriting Apartment Buildings During a Recession</image:title>
      <image:caption>Underwriting assumptions for GPR, concessions, and vacancy loss Year 1 through Year 11.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594575628538-PEN6RFGSA03MB7SGLT8S/%234.JPG</image:loc>
      <image:title>Blog - Underwriting Apartment Buildings During a Recession</image:title>
      <image:caption>Capital contingencies for Year 1.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594575675997-PB92SA1A8THZFZVXALVG/%235.JPG</image:loc>
      <image:title>Blog - Underwriting Apartment Buildings During a Recession</image:title>
      <image:caption>Property return summary for a 5-year investment hold.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594575716098-G4UBKRXRIIOWUGW5ZE6Q/%236.JPG</image:loc>
      <image:title>Blog - Underwriting Apartment Buildings During a Recession</image:title>
      <image:caption>Residual assumptions with emphasis on cap rate and cap rate increment.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594575806957-GOEMB7X76G98NQDTBZB5/%237.JPG</image:loc>
      <image:title>Blog - Underwriting Apartment Buildings During a Recession</image:title>
      <image:caption>Rent growth assumptions by floorplan.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594575870553-QCTXMV6787D5AT31YHN6/%238.JPG</image:loc>
      <image:title>Blog - Underwriting Apartment Buildings During a Recession</image:title>
      <image:caption>Capital spending plan by floorplan.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594575917728-FT05V6UYJ4F0KI697LBO/%239.JPG</image:loc>
      <image:title>Blog - Underwriting Apartment Buildings During a Recession</image:title>
      <image:caption>Sources and Uses for with emphasis on the other capital expenditures of -$50,000.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594576007743-AF9WUFVO4JL51ZGPDLNG/%2310.JPG</image:loc>
      <image:title>Blog - Underwriting Apartment Buildings During a Recession</image:title>
      <image:caption>Property returns summary on a 5-year investment hold period.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1599869179959-EHLJTDX5C8XRNO4XPLZZ/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Underwriting Apartment Buildings During a Recession</image:title>
      <image:caption>Tactica free multifamily Excel template displayed on laptop.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.tacticares.com/blog-feed/a-guide-to-underwriting-multifamily-property-tax</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2023-12-29</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594577047225-FA730113YKRHHKJ5TM1P/%231.JPG</image:loc>
      <image:title>Blog - A Guide to Underwriting Multifamily Property Tax</image:title>
      <image:caption>Assessment Year and Payable Year 2018 and 2019 respectively.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594577088860-CVCVHUSIQG4XVQNMX9AU/%232.JPG</image:loc>
      <image:title>Blog - A Guide to Underwriting Multifamily Property Tax</image:title>
      <image:caption>2019 property tax statement with emphasis on the 2018 assessment.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594577157578-PNLJAODTCFHSNWIHBSTE/%233.JPG</image:loc>
      <image:title>Blog - A Guide to Underwriting Multifamily Property Tax</image:title>
      <image:caption>2019 property tax statement with the total property tax payable amount highlighted.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594577231006-PZOLERGY0MYXZQ6GM0L4/%234.JPG</image:loc>
      <image:title>Blog - A Guide to Underwriting Multifamily Property Tax</image:title>
      <image:caption>2019 taxes payable information inputted into Tactica financial model.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594577286333-PRKA9N1XS7XDODG39ZVZ/%235.JPG</image:loc>
      <image:title>Blog - A Guide to Underwriting Multifamily Property Tax</image:title>
      <image:caption>2020 property tax statement with emphasis on the 2019 assessment.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594577336656-JXWUWXWRXT2QUCCM2YFC/%236.JPG</image:loc>
      <image:title>Blog - A Guide to Underwriting Multifamily Property Tax</image:title>
      <image:caption>2020 tax statement with property tax payable highlighted along with the special assessment charge.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594577401570-M09GGWB0SPCF9FKVE1L4/%237.JPG</image:loc>
      <image:title>Blog - A Guide to Underwriting Multifamily Property Tax</image:title>
      <image:caption>2019 and 2020 property tax information inputted into the Tactica template.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594577509275-ZA5EHRVI5169XDZ0CX0V/%238.JPG</image:loc>
      <image:title>Blog - A Guide to Underwriting Multifamily Property Tax</image:title>
      <image:caption>2020 valuation notice statement for 2021 taxes payable.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594577578035-L1PHPU1XOAZUO954T5FN/%239.JPG</image:loc>
      <image:title>Blog - A Guide to Underwriting Multifamily Property Tax</image:title>
      <image:caption>2019, 2020 and 2021 tax information inputted into the Tactica template.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594577688009-1BAA4MAB6SCJIRJFHKYV/%2311.JPG</image:loc>
      <image:title>Blog - A Guide to Underwriting Multifamily Property Tax</image:title>
      <image:caption>Setting real estate tax assumptions in the Tactica template.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594577738145-C26POO63XY8A91DPCXLT/%2312.JPG</image:loc>
      <image:title>Blog - A Guide to Underwriting Multifamily Property Tax</image:title>
      <image:caption>Real Estate tax tab in Tactica underwriting template with emphasis on setting Year 1 of proforma start.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594577838499-DYXCGEGQT24NRUKHCUPZ/%2313.JPG</image:loc>
      <image:title>Blog - A Guide to Underwriting Multifamily Property Tax</image:title>
      <image:caption>Real estate tax tab in Tactica underwriting template emphasizing where to set the reassessment year.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594577915666-SRMZ610JDNUDKJJALTUW/%2314.JPG</image:loc>
      <image:title>Blog - A Guide to Underwriting Multifamily Property Tax</image:title>
      <image:caption>Stagger option column necessary if tax calendar doesn’t align with the proforma calendar.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1599869304074-76VU8TKOJX8OMDZQBO4D/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - A Guide to Underwriting Multifamily Property Tax</image:title>
      <image:caption>Tactica free multifamily Excel template displayed on laptop.</image:caption>
    </image:image>
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  <url>
    <loc>https://www.tacticares.com/blog-feed/preferred-returns-in-multifamily-investment</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-04-26</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594683105914-SOX13N9O3KE914IN5O4X/%231.JPG</image:loc>
      <image:title>Blog - Preferred Returns in Multifamily Investment</image:title>
      <image:caption>GP and LP contributions and profit splits.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594683147927-0336S1A2RWBR5KPNMM6H/%232.JPG</image:loc>
      <image:title>Blog - Preferred Returns in Multifamily Investment</image:title>
      <image:caption>GP and LP cash flow distributions and return metrics.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594683192593-EM872KT9Y7XMS7BI0I2Y/%233.JPG</image:loc>
      <image:title>Blog - Preferred Returns in Multifamily Investment</image:title>
      <image:caption>GP and LP ledger each year.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594683273389-JRK661GSG7Z2PACRHNDE/%234.JPG</image:loc>
      <image:title>Blog - Preferred Returns in Multifamily Investment</image:title>
      <image:caption>Account balance, required return, distributions and promote in Year 1.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594683398713-4WOAT75PE2V5DEFUJ4P2/%235.JPG</image:loc>
      <image:title>Blog - Preferred Returns in Multifamily Investment</image:title>
      <image:caption>Account balance, required return, distributions and promote in Year 2.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594683426856-EWAOYV46FVYMYLLT7NBN/%236.JPG</image:loc>
      <image:title>Blog - Preferred Returns in Multifamily Investment</image:title>
      <image:caption>Equity contributions and IRR hurdles.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594683458177-F35QBKY8QU8MSAC0MKA8/%237.JPG</image:loc>
      <image:title>Blog - Preferred Returns in Multifamily Investment</image:title>
      <image:caption>Preferred Return distributions 7-year hold.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594683527418-GOFL7W8EMVDA9CCRUXRN/%238.JPG</image:loc>
      <image:title>Blog - Preferred Returns in Multifamily Investment</image:title>
      <image:caption>IRR waterfall 7-year hold.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1599870214220-L3FQPYP3IU42MG6I67MW/Free+model+vault+horizontal.jpg</image:loc>
      <image:title>Blog - Preferred Returns in Multifamily Investment</image:title>
      <image:caption>Tactica free multifamily Excel template displayed on laptop.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://www.tacticares.com/blog-feed/multifamily-development-back-of-napkin-excel-template</loc>
    <changefreq>monthly</changefreq>
    <priority>0.5</priority>
    <lastmod>2024-06-14</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/d76081cf-b2a1-47f1-816f-d8d235810ae8/Multifamily+Back-of-Napkin.png</image:loc>
      <image:title>Blog - Multifamily Development "Back of Napkin" Excel Template</image:title>
      <image:caption>Tactica free development Excel template displayed on laptop.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594690750741-G5OEAOFTFJHMK8H28U8L/%231.JPG</image:loc>
      <image:title>Blog - Multifamily Development "Back of Napkin" Excel Template</image:title>
      <image:caption>General property information.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5cfd998a0dfb9400018e80ca/1594690777773-7W543B70BI82ZTHOOFZ3/%232.JPG</image:loc>
      <image:title>Blog - Multifamily Development "Back of Napkin" Excel Template</image:title>
      <image:caption>Project development costs.</image:caption>
    </image:image>
    <image:image>
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      <image:title>Blog - Multifamily Development "Back of Napkin" Excel Template</image:title>
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