Chatgpt vs purpose built ai for cre underwriting: which one can finish the job?
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I keep seeing people recommend chatgpt for financial modeling and I need to push back because I spent a month testing it for multifamily underwriting and the results were not close to usable. Pasting rent rolls, T12s, operating statements and asking it to build models, you get fragments. A few formulas, a cash flow table, maybe a cap rate calculation. Nothing ties together into a workbook you could hand to an investment committee. Fifteen rounds of prompting later and you've spent the same ti...
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