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Alt-X

Alt-X builds an AI agent for real estate underwriting. It reads an offering memorandum and returns a full institutional model in Excel.

No reviews yet Los Angeles, United States Small Founded 2025
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About Alt-X

Alt-X is an Excel agent built for real estate underwriting. Give it an offering memorandum, which is usually a couple of hundred pages, and it reads the document, pulls out the terms that matter and builds the model around them: sources and uses, debt sized against LTV and DSCR constraints, ten years of cash flows, exit cap sensitivity and the GP and LP waterfall. The output is a working Excel file rather than a summary, and every figure traces back to the page it came from, which is the part that matters to anyone who has to defend the numbers in an investment committee. The company was founded in 2025 by Ryan Samadi and Michael Wachsman, and went through Y Combinator's Winter 2026 batch. It is based in Los Angeles.

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Frequently asked questions

What does Alt-X do?
It turns a real estate offering memorandum into a full underwriting model in Excel. It reads the document, extracts the terms and builds the sources and uses, the debt sizing, ten-year cash flows, exit cap sensitivity and the GP/LP waterfall.
Who is it for?
Anybody who underwrites property deals for a living: acquisitions teams, debt funds, brokers and the analysts who would otherwise spend a day per deal rebuilding the same model.
Does it work inside Excel?
Yes. It is distributed as an Excel plugin, so the output is a normal spreadsheet you can open, audit and change rather than a report to copy from.
When was Alt-X founded, and where is it based?
Founded in 2025 by Ryan Samadi and Michael Wachsman, based in Los Angeles, and part of Y Combinator's Winter 2026 batch.