The Underwriter

Location-adjusted ARV · pre-1960 rehab budget · max allowable offer

Step 1 · Value

ARV, adjusted for the pocket

Start from your best comps in the same pocket, then check every condition that applies to this exact lot. Percentages are editable — tune them as your resale data comes in.

$
Renovated comps, same pocket, last 90 days
$

Drags on value

Lifts on value

Adjusted ARV ±0.0%   $1,000,000
Step 2 · Zoning & red flags

Overlays, planning review & code enforcement

Pull the parcel in ZIMAS before you underwrite. Every overlay routes your permits through the Planning department and adds months of carry — check what applies and the months go straight into the hold period and financing math.

Permit timeline reality: in an HPOZ, CDO, Specific Plan, or any other Planning overlay, budget extra months just to get permits approved — review boards meet monthly and every revision costs a cycle. HPOZ boards often force wood windows and period details: bump the Windows and Permits lines too. An active code-enforcement case is a walk-away: the city won't issue permits until the case clears — on its own that's about 6 extra months, but stack it with an HPOZ or CDO overlay and the total climbs to 12–15 months before you can pull a permit. If you buy anyway, that hold time gets added on top of the rehab — the verdict turns RED FLAG and the max offer prices in the added hold automatically.
Step 3 · Rehab

Repair budget

Defaults assume a pre-1960 house where the systems are original and due. Pick the layout, scope, finish level, and build complexity — every line stays editable, so overwrite any figure with a real bid.

Layout preset
Scope of work
Build complexity
sf
Finish level
Line itemBudget
Contingency % $0
Total repair budget $0
Sanity check: $0/sf —

Changing preset, scope, finish, complexity, size, or baths refills every line with defaults and discards your edits.

Send this to a hard money lender

CSV opens in Excel/Sheets if you want to edit it first. PDF is a clean, ready-to-send estimate — your browser's print dialog will offer "Save as PDF."

Step 4 · Costs & profit

Carrying, financing, resale

Everything it costs to own the house until it sells, plus the profit you refuse to flip without.

mo
Escrow + rehab + list + resale escrow — 6 mo light · 9 mo medium · 12–15 mo big remodel / slow market
%
%/yr
pts
%/yr
$/mo
Vacant / builder's-risk policy — $5,000–$12,000/yr
$/mo
%
%
%
Escrow, title, seller credits
%
LA City 0.45% + County 0.11%
% ARV
How the max offer is solved: MAO = adjusted ARV − resale costs − repair budget − carrying costs − profit target, with financing cost, purchase closing, and property tax solved against the offer price itself (they scale with what you pay). Rehab defaults are 2026 LA City ballparks at three finish levels; larger presets default to two-story/cut-up complexity because that's what most 4- and 5-bedroom LA housing stock is. Replace defaults with your own contractor bids and lender terms as you calibrate. Repair draws are assumed out of pocket; if your lender funds draws, add those points and interest to the financing fields.

Repair Estimate

ItemDescriptionBudget