Ironclad Underwriting Podcast
The Ironclad Underwriting Podcast—where precision meets performance in commercial real estate. I'm your host, Jason Williams, and every week, we dive deep into the strategies, systems, and stories behind rock-solid underwriting. Whether you're a seasoned analyst, an up-and-coming investor, or a commercial real estate professional looking to sharpen your edge, this show is your front-row seat to expert insights, emerging trends, and real-world underwriting tactics that stand the test of time — and scrutiny. From market assumptions to debt structuring, cap rates to cash flow — we’re cutting through the noise and getting to the numbers that matter. So sharpen your pen...
Underwriting with Integrity: Revenue Assumptions, Expense Ranges, and Pro Forma Truths
📖 Episode Overview
In this episode, Jason and Frank pull back the curtain on the most manipulated areas of underwriting: revenue assumptions and operating expenses.
They explore how pro formas can be engineered to look too good to be true, and how savvy investors can spot the red flags. From market rent games to unrealistic expense ratios, they break down what ethical underwriting really looks like in today’s market.
📌 Topics Covered
✅ Differences between market rent, in-place rent, and effective rent
✅ Revenue assumptions: Loss to Lease, Economic Vacancy, Other Income
✅ Under...
Underwriting Insights & Real Estate Journeys
🔍 Episode Overview:
Welcome to the inaugural episode of Ironclad Underwriting! In this episode, Jason and Frank introduce themselves, share their real estate journeys, and set the stage for what listeners can expect from the podcast.
From underwriting principles to building generational wealth and navigating market risks, this conversation lays the foundation for future deep dives into the world of commercial real estate underwriting.
🗣️ Topics Covered:
✅ The "Get Rich Slow" mindset in real estate
✅ Jason’s background as an R&D engineer turned real estate investor
✅ Transition from single-family to...
