{"id":98902,"title":"Alt-X: AI Agents for Real Estate Underwriting \u0026 Financial Modeling","tagline":"Alt-X is the AI agent that turns a 200-page offering memorandum into a fully built, fully auditable institutional underwriting model in Excel — in seconds.","body":"Hey\n\nWe're [Ryan](https://www.linkedin.com/in/ryan-samadi/) and [Michael](https://www.linkedin.com/in/michael-wachsman-a0912a1ab/), and we're building Alt-X.\n\n**TL;DR**\n\n**Download our Excel plugin from [alt-x.co](http://alt-x.co) or contact us at [ryan@alt-x.co](mailto:ryan@alt-x.co)**\n\n Alt-X is the first AI Excel agent built specifically for real estate underwriting. Drop in an offering memorandum and get a fully built, fully auditable financial model in seconds, directly in Excel.\n\nWe've lived the pain of financial modeling firsthand through years of late night modeling sessions, and built Alt-X to change it.\n\n**Ask:** Our product is live and we’re looking for real estate investors, underwriters, and acquisitions analysts to try it on real deals. \n\n**Download our Excel plugin from [alt-x.co](http://alt-x.co) or contact us at [ryan@alt-x.co](mailto:ryan@alt-x.co)**\n\n\u003chttps://youtu.be/wp3NBnwFs38\u003e\n\n**Why we built it**\n\nRyan spent years in the hedge fund world and institutional finance watching the same thing happen on every deal: a 200-page offering memorandum lands, IC is in 48 hours, and someone is manually pulling numbers cell by cell into Excel building capital stacks, sizing debt, modeling cash flows, building waterfalls from scratch.\n\nThe biggest firms built proprietary infrastructure to solve this. Everyone else is still doing it by hand.\n\n**What Alt-X does**\n\n\u003chttps://youtu.be/OqDnOfKzudk\u003e\n\nAlt-X lives in Excel. Drop in your OM and it automatically builds your full underwriting model: sources and uses, senior debt sized to LTV and DSCR constraints, ten-year operating cash flows, exit cap sensitivity, full GP/LP waterfall with promote tiers.\n\nEvery number is cited back to the exact page and line of the source document. Every change needs your approval before it's applied. Not blind AI. Not manual modeling. Build fast and verify everything.\n\n**Team**\n\nRyan studied CS at Stanford, worked at Citadel and previously was founding engineer of a $XXMM+ commodities startup. Michael published novel ML research at Cornell and built state-of-the-art AI security systems. Together, they've lived the pain of financial modeling and have the technical depth to fix it.\n\n![uploaded image](/media/?type=post\u0026id=98902\u0026key=user_uploads/414472/32a9e60f-be41-46a1-a322-d04923ac4733)\n\n**Ask**\n\nWe'd love warm intros to real estate investment firms, acquisitions teams, and asset managers. If you work in real estate finance or know someone who does, please reach out.\n\nDownload the plugin and try it on your next deal at [alt-x.co](http://alt-x.co) or email us at [ryan@alt-x.co](mailto:ryan@alt-x.co)","slug":"PjC-alt-x-ai-agents-for-real-estate-underwriting-financial-modeling","created_at":"2026-03-18T16:35:29.764Z","updated_at":"2026-05-25T01:49:41.018Z","total_vote_count":62,"url":"https://www.ycombinator.com/launches/PjC-alt-x-ai-agents-for-real-estate-underwriting-financial-modeling","share_image_url":"//bookface-static.ycombinator.com/assets/ycdc/yc-og-image-c440a0ad1dacfb86eeeb343717479cc54d256614449b4ef719977a0a451f8bc8.png","company":{"id":30860,"name":"Alt-X","slug":"alt-x","url":"https://alt-x.co","logo":"https://bookface-images.s3.amazonaws.com/small_logos/949208e95883f37f6c02c5daa9417bb2876ac66f.png","batch":"Winter 2026","industry":"Fintech","tags":[],"search_path":"https://bookface.ycombinator.com/company/30860"}}