Jake HellerMay 5, 2026
Build Development model using shortcut ai
Build Development model using shortcut ai
Jake Heller
Watch as Shortcut, an AI Excel super agent, builds a comprehensive, institutional-grade multifamily real estate development underwriting model from scratch in under 20 minutes. See how it generates 13 interconnected worksheets, including assumptions, costs, financing, rent roll, and executive summary, with professional formatting.
Build Development model using shortcut ai
Jake Heller
Watch as Shortcut, an AI Excel super agent, builds a comprehensive, institutional-grade multifamily real estate development underwriting model from scratch in under 20 minutes. See how it generates 13 interconnected worksheets, including assumptions, costs, financing, rent roll, and executive summary, with professional formatting.
Chapters
00:00
Introduction
Introduction to using Shortcut to build a real estate development model.
00:36
Defining the Prompt
01:33
Model Generation Process
02:50
Assumptions and Inputs
03:16
Development and Construction
04:39
Rent Roll and Operations
05:44
Executive Summary
06:43
Model Review and Feedback
Transcript
00:00
All right.
00:00
We're using Shortcut to build an institutional, multifamily real estate development model from scratch.
00:08
As you can see, we got a blank workbook here.
00:12
Nothing.
00:12
we already got Shortcut pulled up.
00:14
For those of you that don't know, Shortcut is an Excel super agent native to Excel.
00:19
It is a monster.
00:21
You could do anything.
00:22
You could build models.
00:23
You could use existing models.
00:25
You could search the web, you could search files.
00:27
Think of a chatgpt that lives within your Excel file to.
00:32
Helps you with underwriting.
00:33
That helps you with underwriting.
00:35
Excuse me.
00:36
so, I already used my AI girlfriend Claude to build a prompt, and I'm going to go ahead and put that into Shortcut.
00:47
It is a beast of a prompt.
00:48
Okay.
00:49
I'm essentially asking it to build a comprehensive institutional grade multifamily real estate development underwriting model in Excel.
00:57
I don't need to say that.
00:58
It already knows that.
00:59
With the following specifications.
01:02
And then we dig deep into.
01:04
This should have 12 tabs.
01:06
It should do everything.
01:07
Wow.
01:07
Yeah, it's a beast of a prompt.
01:09
And at the end, you can see.
01:09
Make this model comprehensive enough that it could be used to secure 50 plus million in institutional financing.
01:14
Include every detail a credit committee would want to see.
01:17
Blah, blah, blah.
01:17
This should be indistinguishable from models used by Blackstone, Brookfield, and Graystar.
01:22
Let's hit launch.
01:23
I'm pretty fired up about this.
01:25
As you can see, this is very, very detailed.
01:28
Not sure how long it's going to take, but I'm excited.
01:30
I'm assuming it's going to come up with a to do list, as it always does.
01:33
Yeah.
01:34
Look at that.
01:34
15 tasks.
01:36
Hard word to say tasks.
01:38
Yep.
01:39
Now watch it go to work.
01:40
It has 15 tasks.
01:42
Look at this.
01:42
Wow.
01:43
More, more, more, more, more.
01:46
Look at that.
01:47
That is so crazy.
01:48
it's awesome.
01:48
So it's going to get to work.
01:50
We'll have instructions, executive summary.
01:52
Let's just see.
01:53
It looks like it's already made some modifications to our assumptions tab.
01:57
So that appears to be where it is going to start.
02:00
So you can see that full to do list here.
02:02
Build assumptions and input sheet with comprehensive development assumptions.
02:04
You know, makes.
02:05
Blah, blah, blah.
02:05
Okay, so we're going to let it work.
02:07
it's definitely going to take some time because we're trying to build a monster.
02:11
Look how quick like, it does all that.
02:13
it's just beautiful.
02:15
It's art is what it is.
02:16
It really is art.
02:17
not sure what this power button Does.
02:19
We'll save it for another time.
02:20
But what's great about shortcut guys, if you haven't seen my videos already, they have a prompt gallery here.
02:26
So this is one of those prompts that I would probably save in the prompt gallery.
02:30
So then that way we don't have to use it again.
02:33
Look at this.
02:33
Look at that beautiful prompt.
02:35
We're going to save the prompt and then it's as simple as just hitting use prompt.
02:40
So we're going to build a bunch of different prompts for a bunch of different scenarios for shortcut.
02:46
so definitely going to take some time.
02:47
We'll come back, check in shortly.
02:50
All right, cool.
02:51
So we are officially done with the assumptions and inputs tab.
02:57
Look how beefy this is.
02:58
Look how clean the formatting is.
03:00
It's all so beautiful.
03:02
Active scenario, base case.
03:04
Interesting.
03:04
Okay.
03:05
that is all fine.
03:06
Terminal growth rate.
03:08
Wow.
03:08
Don't even know what that means.
03:10
All good.
03:11
let's see.
03:12
That shouldn't be a percentage.
03:13
And there's some stuff we'll want to clean up on here.
03:16
now it's building site and acquisition costs and it appears to be.
03:23
Yeah.
03:23
So it's pulling from the assumptions tab.
03:26
This is just a tab for our site and acquisition costs.
03:30
Now it's building the development sheet.
03:31
So let's take a look at this, see what it does here.
03:34
This is interesting.
03:36
Whoa.
03:37
Works so fast.
03:39
And look at these Excel functions.
03:42
It's crazy formatted.
03:44
About to wrap it up.
03:45
Boom.
03:46
Again, pulling a lot from the assumptions tab.
03:50
Sources and uses.
03:52
Beautiful.
03:53
Done with that.
03:53
Now let's jump into the construction draw schedule.
03:56
Look at this construction draw schedule I put together and how quickly it did that.
03:59
my God.
04:00
Wow.
04:00
Can you imagine?
04:02
I just want to test something.
04:03
Okay.
04:03
I'm going to change the construction duration.
04:06
So let's find where that is.
04:09
Here.
04:10
Let's Change it to 24.
04:12
And I'm assuming this all changed.
04:15
It.
04:15
So it did.
04:17
What we're going to need to do is.
04:19
And we could task it right.
04:21
But anytime that changes, look, it looks like the, the rows didn't get added.
04:26
It's probably a simple F.
04:28
Let's just say this is let's say this is January 15th, 2028.
04:36
Cool.
04:36
Wow.
04:36
We're flying through this financing structure.
04:39
Already done.
04:39
Rent roll.
04:40
Done ripping.
04:41
We're about halfway done.
04:43
Here's our rent roll.
04:44
So what I would like to do is if I could add.
04:48
Because if I just add another row Here, let's say it's four bedrooms.
04:52
I'm going to have trouble configuring all this.
04:54
So maybe there's a way to add like a plus sign and then everything updates automatically.
04:58
I don't know.
04:59
Gotta figure that out.
05:00
So, yeah, this is a two month stabilization.
05:03
Gotta figure that out.
05:05
That looks like an error.
05:06
But, let's see, I'm assuming at the end apply institutional formatting, color coding and final quality control checks.
05:14
So I'm sure it'll rip through a lot of the stuff at the end.
05:17
We'll just double check that.
05:19
So it's working on the operating profile at the moment.
05:21
Watch this.
05:23
So cool.
05:25
little update.
05:26
Got our exit analysis and terminal value completed here.
05:31
We got some interesting numbers.
05:33
We're in the billions.
05:35
We are in the billions.
05:38
now it's building its sensitivity and scenario analysis.
05:44
Cool.
05:44
Now it looks like we're going over to our executive summary dashboard with key metrics, returns and visual presentation.
05:52
Just moving a lot quicker than I thought.
05:55
Look at this beautiful magic here.
05:58
So it's going to wrap up this executive summary, then it's going to create the instructions sheet and then it's going to apply all the formatting, color coding and final quality control checks, which are going to be beautiful.
06:11
beautiful.
06:11
How nice is that?
06:12
Look at it.
06:13
So cool.
06:14
So it's done with the executive summary dashboard and now it's going to create the instructions.
06:19
It's.
06:25
It's.
06:30
It's.
06:33
It's.
06:34
It's.
06:43
Wow.
06:43
All right, so it looks like we're done.
06:44
It looks like we are done.
06:46
Let's, let's minimize this.
06:49
cool.
06:50
So model complete.
06:50
13 interconnected worksheets.
06:52
It's a big project, sample project included.
06:56
Let's see, we got our instructions on how exactly to use the model.
06:59
Very thorough, very detailed.
07:00
Looks wonderful.
07:02
Executive summary, assumptions and inputs.
07:05
this is all a beautiful, beautiful thing.
07:10
as a first pass, brilliant.
07:13
I would think that there are some things once we start using this that may need to be updated.
07:19
That's okay.
07:20
The fact that it built this caliber of a model in less than 20 minutes is brilliant.
07:31
so, you know, one of the things just immediately out the gate, right?
07:35
You have the construction duration of 18 months.
07:38
We did this earlier, but if you Change that to 24 months and you go to your construction draw, there's not enough rows for 24 months.
07:46
So I think the numbers, don't, work.
07:50
In that case, so we just need to fix that.
07:51
You could easily prompt it to make that fix, right?
07:54
Hey, if we change the construction duration, then the whole model should be able to change.
07:59
And I think that prompt, we could use it for make it a little bit more general.
08:06
In other words.
08:07
I, I would think that there's other instances just like that one where maybe the model doesn't doesn't change to support it.
08:15
So we just maybe want to prompt it and say something like it's critical that the model is dynamic.
08:23
So if we change things like and then we find a couple construction duration from 18 to 24, everything else being interconnected, it works properly.
08:32
And then if we change the stabilization month or if we change the lease up, start month, or you know, just random stuff from here that everything gets updated.
08:42
So we could say, you know, run full diagnostics, let's figure out every like dependent cell and, and just make sure that the model changes in the event we change that.
08:54
So but really, really great first pass.
08:57
Really excited to see what just happened here.
09:01
It's, it's, it's brilliant.
09:03
So shortcut winner.
09:07
and again what we're looking at here is probably the worst version of this, right?
09:11
In a week it's going to get better.
09:12
In two weeks it'll get better.
09:13
A month from now, two months from now, this thing is going to be sick.
09:18
So really excited for what's to come.