Real Estate Investment Analyzer v2.1

Adaptive Multi-Agent Analysis System

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

Quick Start

User says anything about a real estate investment → Read the Orchestrator first:

view → ../../agents/orchestrator.md

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

Architecture

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

Agent → Reference File Map

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

Routing Quick Reference

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

Execution Instructions

Step 1: Read the Orchestrator

Always start by reading ../../agents/orchestrator.md. It contains the classification logic and routing rules.

Step 2: Classify the Deal

Use the Orchestrator's classification matrix to determine:

Property type, strategy, geography, stage, complexity
Which route (1-7) applies, or create a custom route

Step 3: Read Required Reference Files

Read ONLY the reference files for agents selected by the Orchestrator. Don't read all files for a simple rental analysis.

Step 4: Execute Each Agent's Analysis

Follow each reference file's framework. Pass outputs forward where agents depend on prior results (e.g., A10 Hospitality outputs feed into A3 Underwriter).

Step 5: Compile the Report

Use the Orchestrator's synthesis template to produce the final Investment Analysis Memo.

Default Assumptions (When User Doesn't Specify)

Domestic (US) Defaults

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

International / Hospitality Defaults

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

Bali-Specific Defaults

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

Mexico/Tulum-Specific Defaults

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

Benchmark Targets (Quick Reference)

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

Cap Rate Benchmarks (2025-2026)

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

Output Principles

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

Integration with Other Skills

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