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Step 1 — Add a property

Go to your dashboard and click Add Property. Enter the property name, address, type (student housing, multifamily, etc.), and unit count.

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Step 2 — Add investors

Navigate to the Investors tab. Add each LP with their name, entity type, ownership percentage, and equity contribution. Ownership percentages must total 100%.

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Step 3 — Set up debt

Go to the Model Assumptions tab. Add each debt tranche with loan amount, interest rate, amortization period, and term. WaterfallIQ calculates debt service automatically.

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Step 4 — Configure your waterfall

Go to the Waterfall tab. Add tiers in order — typically:
  1. Return of capital
  2. Preferred return (e.g. 8% cumulative)
  3. Catch-up (if applicable)
  4. Promote split (e.g. 70/30)

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Step 5 — Run a scenario

Go to Scenarios and click New Scenario. Choose sale or refi, enter your assumptions, and click Run Waterfall. You’ll see IRR, equity multiple, and per-investor distributions instantly.