Understand the deal before you buy it.
Get an experienced second look at the purchase price, financing, cash flow, buyer returns, business quality, and downside before committing more capital or paying for extensive diligence.
$1,950 fixed fee · generally delivered within 3 business days after the required information is received
The base case works, but debt coverage and customer concentration need closer review.
See what an independent deal review adds.
This overview explains the engagement, the underwriting process, and how the finished analysis helps buyers decide whether to proceed, renegotiate, investigate further, or pass.
See the return, the quality, and the risk separately.
A projected IRR can look attractive while customer concentration, owner dependence, weak coverage, deferred maintenance, poor retention, or an aggressive exit assumption remain hidden underneath it.
Financial Score
Does the purchase price, financing structure, cash flow, debt coverage, and expected return make financial sense?
Quality Score
Is this a durable, well-operated business or property with dependable revenue and defensible economics?
Risk Score
How much can go wrong, and how well does the investment remain protected when performance falls below plan?
The analysis changes with the economics of the deal.
Each review uses a standardized structure tailored to the acquisition type, so the score reflects the drivers and risks that actually matter for that business or property.
Small-Business Acquisitions
For buyers evaluating an established owner-operated business, particularly self-funded searchers and SBA buyers.
- Reported and normalized EBITDA or SDE
- Seller add-backs and valuation multiples
- Debt service, breakeven, and buyer returns
- Customer concentration and repeat revenue
- Owner dependence and management depth
- Operational and financial-record risk
Multifamily & Commercial Real Estate
For buyers underwriting an existing property, its financing, operational upside, capital needs, and exit.
- Underwritten NOI and going-in cap rate
- Occupancy, expenses, and revenue quality
- LTV, debt yield, and DSCR
- Renovation and rent-up economics
- Deferred maintenance and capital needs
- Refinance and exit-cap sensitivity
SaaS & Subscription Businesses
For buyers separating durable recurring revenue from growth dependent on weak retention or continued cash burn.
- ARR, MRR, growth, and recurring mix
- Gross and net revenue retention
- Logo churn and customer concentration
- CAC payback, LTV:CAC, and efficiency
- Gross margin, Rule of 40, and cash flow
- Valuation and downside returns
A decision package you can inspect and explain.
The score is not a black-box recommendation. The workbook, assumptions, supporting metrics, and written reasoning show exactly why the deal scored where it did.
Professional Excel Underwriting Workbook
A structured model using the deal information you provide and clearly identified assumptions.
Base and Downside Analysis
A five-year annual projection showing how coverage, returns, and equity value change below plan.
Purchase-Price and Exit Sensitivity
A clear view of how valuation and returns respond to changes in price and exit assumptions.
100-Point Deal Scorecard
Financial, quality, risk, and diligence scoring supported by metrics and experienced judgment.
Strengths, Concerns & Closing Conditions
The positive attributes, material concerns, and issues that should be resolved before proceeding.
Prioritized Diligence List
The documents, explanations, and third-party work most important to validating the underwriting.
Written Findings & Deal Snapshot
A concise summary of the economics, returns, coverage, risks, recommendation, and next steps.
45-Minute Review Call
A one-on-one discussion of the model, assumptions, scorecard, risks, and findings.
One Factual-Correction Pass
One consolidated correction pass if a factual input was misunderstood or entered incorrectly.
Focus your diligence on what can change the decision.
Seller and broker materials present the opportunity favorably. This review provides a separate framework focused on supportable cash flow, downside protection, investment quality, and buyer returns.
Find out what must be true
Identify whether the deal depends on revenue growth, margin expansion, low churn, refinancing, or other assumptions that still need validation.
Identify problems before they become expensive
Surface material questions before spending substantially more on legal work, lender fees, inspections, or quality-of-earnings work.
Negotiate with better information
Evaluate whether purchase price, equity, seller financing, earnouts, reserves, or other transaction terms should change.
Separate projected return from investment quality
See when an attractive IRR is being created by leverage, concentrated revenue, weak operations, or an aggressive exit.
From deal intake to a decision-ready review.
The underwriting period begins once the required information is available. If critical information is missing, you will be told what is needed and whether the review can proceed with limitations.
Submit the deal
Provide the target, purchase price, financing, and your investment objectives.
Provide documents
Upload the available financials, tax returns, operating data, debt terms, and supporting schedules.
Package review
The information is checked for completeness and material gaps before underwriting begins.
Underwriting
The deal is modeled under base and downside assumptions and converted into the scorecard.
Delivery & call
Receive the workbook and findings, followed by a 45-minute discussion of what should happen next.
A $900k car wash acquisition.
See how purchase price, operating assumptions, debt, buyer cash flow, downside protection, and valuation come together in a real acquisition-screening example.
Read the complete analysis →Experienced financial modeling with independent judgment.
Jason Varner is an accounting-trained financial modeling consultant who has spent more than a decade building models for hundreds of business owners, investors, lenders, and entrepreneurs.
What this service is
A screening-level underwriting and decision-support review combining standardized financial analysis with experienced human judgment. The fixed fee does not depend on whether you complete the transaction.
What this service is not
- Not an audit, quality-of-earnings report, appraisal, or fairness opinion
- Not legal, tax, engineering, lending, or investment advice
- Not independent verification of seller-, broker-, or client-supplied information
- Not a guarantee of closing, financing, or future performance
Start your acquisition review.
$1,950
Purchase the review below. Jason will follow up with the engagement agreement, guided intake, and document instructions. The three-business-day delivery target begins after the required information is received.
- Excel underwriting workbook
- Base and downside analysis
- 100-point acquisition scorecard
- Written findings and diligence priorities
- 45-minute review call
- One consolidated factual-correction pass
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Prefer to speak first? Schedule a meeting or email [email protected]. Transactions requiring extensive custom analysis will be identified before work begins.
