A $20 Million Project on One Spreadsheet with Eddie Fong

"You can't possibly be modeling a $20 million project with this spreadsheet." That was Eddie Fong's first day in real estate development.

 

Eddie spent almost 30 years at Microsoft, Salesforce and Dropbox, building software for a billion users. A year ago he pivoted and became chief underwriter for a team building multifamily in the Pacific Northwest.

 

He shares why they build to rent but plan more than one exit, why they pick markets that do not lean on tech, and how a forgotten deadline can cost $100,000 in earnest money. He also explains MistryOS, his AI native startup that puts a whole project in one place so the full team can ask it questions.

 

Key topics:

• Going from big tech to building apartments
• Build to rent in secondary Pacific Northwest markets
• The $20 million spreadsheet shock
• Why touching the cabinets beats a billion anonymous users
• One view of a project, from parcel number to actual cash flow
• Why one person using AI is not an AI company

 

About the guest:

Eddie Fong spent almost 30 years in tech at companies like Microsoft, Salesforce and Dropbox. He is chief underwriter for a multifamily developer building 40 to 120 unit projects, and he is building MistryOS, an AI native operating system for real estate development.

 

Connect with Eddie: https://www.mistryos.com

Prefer to watch on YouTube? https://www.youtube.com/@propertyprofitsrealestate

Want to be a guest on the show? https://www.daveinterviewsyou.com