Frequently Asked Questions
Getting Started
What is ModelDrop?
ModelDrop is an AI-powered real estate underwriting platform that turns an offering memorandum (OM) into an institutional-grade Excel financial model in minutes. You upload a deal's OM or listing link, choose an investment strategy and asset type, review the AI-extracted assumptions, and download a fully editable .xlsm model, with no manual data entry and no starting from a blank spreadsheet.
How do I get started with ModelDrop?
Getting started takes a few minutes: create an account with your email (or continue with Google), upload your first offering memorandum, pick a template, review the AI-extracted assumptions, and download your completed Excel model. If ModelDrop is in invite-only early access, you can join the waitlist and we'll let you know when your account is ready.
Do I need an account to use ModelDrop?
Yes. A free ModelDrop account gives you a dashboard with your saved projects and model history. You can sign up with an email and password or continue with Google. Generating models with the AI Smart Intake wizard requires a Pro subscription.
Is there a free trial or demo of ModelDrop?
There's no self-serve free trial, but you can request a personalized demo and we'll walk you through ModelDrop on your kind of deals. A free account lets you explore the platform, and a Pro subscription unlocks AI extraction and unlimited model generation. You can cancel anytime.
What do I need to use ModelDrop?
All you need is a web browser, a ModelDrop account, and a deal to underwrite, usually a PDF offering memorandum or a property listing link. Your finished models open in desktop Microsoft Excel; no ARGUS, plugins, or special software required.
How ModelDrop Works
How does ModelDrop's AI data extraction work?
ModelDrop reads your offering memorandum with an AI engine trained on a proprietary catalog of real estate underwriting terms. It identifies the deal-driving inputs (rents, unit mix, operating expenses, purchase price, financing assumptions and more) and maps them into the correct cells of a structured Excel model. You review and refine every value before downloading.
What can I upload to ModelDrop?
You can upload a PDF offering memorandum, paste a property listing link, or enter inputs manually. ModelDrop extracts the financial data from whatever you provide and pre-fills your selected template, so you start from a working model instead of a blank spreadsheet.
How long does it take to build a financial model?
Most models are ready in minutes. After you upload a deal and select a template, ModelDrop extracts the inputs, you review the assumptions, and you download a finished Excel model. That work traditionally takes hours of reading the OM and typing numbers by hand.
What is the Smart Intake wizard?
Smart Intake is ModelDrop's guided four-step workflow: Upload, Template, Validation, Download. You upload a deal, choose your model, review the AI-extracted assumptions alongside their sources, then download a completed, editable Excel model. It's how ModelDrop turns an unstructured offering memorandum into a structured financial model.
Can I see where each extracted number came from?
Yes. ModelDrop's validation step, with Explain Mode, shows the source of each extracted value: where in the document it appears and the supporting text behind it. Every assumption is traceable and auditable, so the model is never a black box.
What makes ModelDrop's extraction better than just using other AI platforms?
ModelDrop uses a purpose-built extraction engine, not a generic chatbot. It's guided by a proprietary definitions catalog of hundreds of real estate underwriting terms (with industry aliases, context rules, and formatting), so it knows that "NOI," "Net Operating Income," and "Operating Profit" mean the same thing and how each value should be formatted for the model. For large templates it splits the work into focused, category-based chunks processed in parallel, which keeps extraction fast, cost-effective, and accurate. And for every field it can pull a value three ways: Direct Match (stated in the document), Inferred (reasoned from context), or Calculated (computed from other figures), so you get complete models even when the OM leaves things out.
Templates & Deal Coverage
What types of real estate deals does ModelDrop support?
ModelDrop supports Acquisition, Value-Add, and Development strategies across For-Sale, Commercial, and Multifamily asset types. With 30+ institutional-grade templates spanning these combinations, you can model anything from a quick back-of-the-envelope screen to a full, decision-grade underwriting.
What levels of model depth are available?
Every strategy and asset type comes in multiple depth levels: Back-of-the-Envelope for fast deal screening, plus Simple and Advanced models for full underwriting. You choose the level of analysis that fits the stage of the deal, whether quick triage or investment-committee-ready.
Does ModelDrop handle portfolio models or updating a model with actuals?
Yes. Beyond single-asset models, ModelDrop supports portfolio models and "living" models: upload updated budgets and rent rolls to refresh an existing model with actuals instead of rebuilding it from scratch.
Can I download blank templates without running the AI?
Yes. From your profile you can download blank copies of the models you use most, so you always have a clean institutional-grade Excel template on hand even when you don't need AI extraction.
Can I change the level of analysis (Back-of-the-Envelope, Simple, or Advanced)?
Yes. You choose the level of analysis when you select your template: Back-of-the-Envelope for a fast screen, or Simple and Advanced for fuller underwriting. If a deal needs a deeper look, you can step back, switch to a different depth or template, and re-run the extraction.
Is the model library valuable on its own, even before the AI?
Yes. ModelDrop's library of 30+ institutional-grade Excel models is a serious asset in itself: professionally built, fully dynamic underwriting templates spanning acquisition, value-add, and development across multifamily, commercial, and for-sale deals. You can download blank copies of any model from your profile and use them like any other expert-built Excel financial model.
Your Models (Output & Editing)
What format are the financial models delivered in?
Every model is delivered as a standard macro-enabled Excel file (.xlsm). You can open, edit, and extend it in desktop Microsoft Excel. There's no proprietary viewer and no vendor lock-in. The model is fully dynamic, so your edits flow through the formulas. Open it in desktop Excel rather than Excel on the web or your phone, which can't run the macros that set the model up; if you see a "macros blocked" banner after downloading, see "I downloaded my model but Excel says macros are blocked."
Can I edit or customize the model after it's generated?
Absolutely. ModelDrop gives you a real Excel model, not a locked report. Every assumption, formula, and output is editable, so you can change inputs, add scenarios, or extend the analysis exactly as you would with a model you built yourself.
Do I need ARGUS or special software to open the models?
No. ModelDrop models are native Excel files that open in desktop Microsoft Excel, with no ARGUS, add-ins, or special software required.
Where are my generated models saved?
Your generated models are saved to your ModelDrop account and listed in your profile under your Smart Intake runs, where you can search, filter, re-download, or delete them. You also download standalone .xlsm files, so you keep your own copies too.
Are the models professionally built, and can I treat them like a normal Excel model?
Yes. ModelDrop's models are expert-built, fully dynamic financial models. Every formula is live, so you can treat a finished model exactly like any institutional Excel model you'd build yourself. Edit assumptions, add tabs, run scenarios, and share it with your team or lenders. There's no proprietary format and no lock-in: it's a standard .xlsm file that's yours to keep.
I downloaded my model but Excel says macros are blocked. How do I enable them?
Every ModelDrop model is a macro-enabled Excel file (.xlsm), and those macros do the work of setting the model up the moment it opens. Because the file was downloaded from the internet, Microsoft Excel blocks its macros by default. This is a security measure called "Mark of the Web." Since 2022 this has been a hard block, which is why you see a red "macros blocked" banner with no Enable button. The quickest one-time fix on Windows: find the downloaded file, right-click it → Properties → tick the "Unblock" checkbox near the bottom → click OK, then open the file and click "Enable Content." Do this before opening the file, on the downloaded copy itself. To avoid doing this on every model, see "How do I make every ModelDrop model open with macros enabled automatically?" below.
How do I make every ModelDrop model open with macros enabled automatically?
On any personal PC (you don't need a work machine or IT), add ModelDrop as a trusted source so future downloads open ready to go: open Internet Options → Security tab → Trusted sites → Add, and add modeldrop.io. From then on, every model you download opens with macros enabled. Files already saved on your disk still need the one-time Unblock step. Power users can instead save models into an Excel Trusted Location folder (File → Options → Trust Center → Trust Center Settings → Trusted Locations), so anything opened from that folder runs automatically. On a managed work laptop where these settings are locked, ask your IT team to trust modeldrop.io or push the setting by policy.
Do the macros work on a Mac, or in Excel on my phone or the web?
On a Mac there's no "Unblock" checkbox; macOS uses a "quarantine" flag instead, and the Trust Center lives under Excel → Preferences → Security, where you can allow macros. Excel on phones, tablets, and Excel for the web can't run macros at all, so always open your model in desktop Excel (Windows or Mac) to get the full, working model.
Accuracy & Trust
How accurate is the AI extraction, and can I trust the numbers?
You stay in control of every number. ModelDrop pre-fills assumptions from your documents, then a validation step lets you review and refine each value before downloading. With Explain Mode you can see exactly where each value came from (the source location and the supporting text), so you verify the model rather than trust a black box.
What if the AI extracts a value incorrectly?
You catch and fix it during validation, before the model is finalized. ModelDrop shows each extracted assumption next to its source so you can confirm or override it. The AI accelerates the first draft; you make the final call on every input.
Who builds ModelDrop's models, and are they credible?
ModelDrop is built in partnership with Adventures in CRE (A.CRE), whose underwriting frameworks are trusted across commercial real estate. The templates use the same methodologies applied in live acquisitions, combining proven modeling expertise with modern AI.
How do I review the AI's work for each input?
Every extracted field has its own detail view. Click into an input and a floating panel shows how the value was produced (Direct Match, Inferred, or Calculated) along with its source location in the document (for example, "p. 12") and the plain-English reasoning behind it. A full Extraction Details view lets you see every field at once, filter by method, and quickly spot anything worth a second look, so validating a model is fast and completely transparent.
Account & Profile
How do I create a ModelDrop account?
You can sign up with an email address, username, and a password of at least 8 characters, or choose "Continue with Google." Email signups receive a verification link to confirm their address; Google accounts are verified automatically.
I didn't get my verification email. What should I do?
Verification links are valid for 24 hours. Check your spam folder first; if the link expired or didn't arrive, you can request a new one from the sign-in screen. You'll need a verified email before using certain features.
How do I reset my password?
Click "Forgot your password?" on the sign-in screen and we'll email you a reset link that's valid for one hour. For your security, changing your password signs you out on all devices.
How do I change my email address or username?
Open your profile and edit your account information. Changing your email sends a verification link to the new address, and your email updates only after you confirm it. Username changes take effect right away.
What can I do from my profile?
Your profile is your underwriting dashboard: view and edit your account info, manage your subscription and billing, browse and search every past Smart Intake run, re-download or delete models, track your activity streak and models generated, grab blank copies of your most-used templates, and request custom solutions or leave feedback.
Can I sign in with Google?
Yes. Choose "Continue with Google" to sign in with your Google account. Google sign-ins are verified automatically, and if you already have an email/password account with the same address, Google can be linked to it.
How do I delete my account?
You can delete your account yourself at any time from your Profile page. You choose to delete right away and permanently, or to schedule deletion 30 days out and cancel any time during that window. Deleting your account cancels your paid subscription right away, removes your personal details and your saved models, and keeps your past usage records with your name removed. If you would rather we do it for you, reach out through the Contact page.
Pricing, Plans & Billing
How much does ModelDrop cost?
ModelDrop is one simple plan with everything included: no tiers and no feature gates. During the current beta it's $247/month, or $222/month billed annually ($2,664/year), down from a $500/month list price. The plan covers all templates, AI extraction, actuals integration, portfolio models, and unlimited model generation.
What's included in the subscription?
Everything. A Pro subscription unlocks the full Smart Intake AI wizard, the entire library of 30+ institutional-grade Excel templates, actuals integration (budgets and rent rolls), portfolio models, and unlimited model generation, with no per-model fees and no feature gates.
Is there a free plan?
Yes. A free ModelDrop account lets you sign in and explore the platform, but AI extraction and model generation through the Smart Intake wizard require a Pro subscription.
Can I cancel anytime?
Yes. You can cancel anytime from the billing portal via "Manage Billing" in your profile. You keep full access through the end of your current billing period, after which your account returns to the free tier.
What happens to my models if I cancel?
You keep every model you've already downloaded; they're standard .xlsm Excel files with no vendor lock-in. You retain access until the end of your billing period; once it ends, you lose the ability to run the AI wizard or download new templates, but your downloaded files remain yours.
How do I manage my billing or update my payment method?
Click "Manage Billing" in your profile to open the secure Stripe customer portal, where you can update your payment method, switch between monthly and annual billing, view invoices, or cancel.
What's the difference between monthly and annual billing?
Both give you the same full access. Monthly is $247/month; annual works out to $222/month (billed as $2,664/year), saving about 10%.
What payment methods do you accept, and is payment secure?
Payments are processed securely through Stripe, which accepts major credit and debit cards. Your card details are handled entirely by Stripe and are never stored on ModelDrop's servers.
Data, Security & Privacy
Is my deal data secure and confidential?
Yes. ModelDrop protects your account with encrypted connections (HTTPS/HSTS), secure server-side sessions, and bcrypt-hashed passwords, and it enforces access control on the server for every sensitive action. Your data is tied to your account and never shared with other users.
Do you store the offering memorandums and documents I upload?
No. The documents you upload are processed in memory only. ModelDrop reads the file to extract the inputs for your model, and the original file is never written to disk, saved to storage, or kept in a database. Once your model is built, the source document is discarded. Only the extracted data and your generated Excel model are saved to your account.
Where are my generated models stored?
Your generated models are kept in secure cloud object storage, scoped to your account so only you (or an authorized admin) can download them. File access is checked against ownership on every request, and you can re-download or delete your models anytime from your profile.
How does ModelDrop protect against security threats?
ModelDrop uses parameterized database queries to prevent SQL injection, CSRF protection on state-changing requests, rate limiting on sensitive endpoints, secure HttpOnly cookies, and a security-headers policy. Passwords are stored only as bcrypt hashes, never in plain text.
Does ModelDrop store my credit card details?
No. All payments are handled by Stripe, a PCI-compliant payment processor, so ModelDrop never stores your full card details.
About & Support
How is ModelDrop different from building models by hand or using off-the-shelf templates?
Traditional templates, even excellent ones, still require you to read the OM and type in every assumption. ModelDrop automates that step: it extracts the inputs and populates the model, turning hours of manual data entry into minutes of review, while still giving you a standard, fully editable Excel file you own.
How is ModelDrop different from ARGUS or other underwriting software?
ModelDrop focuses on getting you a complete, editable Excel model fast, starting straight from an offering memorandum. Instead of working inside proprietary software, you get a native spreadsheet you fully own, with AI handling the tedious extraction and data entry.
Can I get a custom or bespoke model built?
Yes. Alongside the standard library, ModelDrop offers custom solutions for teams that need bespoke models, new model types, or portfolio analysis, built on the same institutional methodologies. Request one through Custom Solutions in your profile, or schedule a call.
How do I contact ModelDrop or get support?
Reach the ModelDrop team through the Contact page for questions, support, demos, or custom modeling requests. You can also leave feedback or request custom solutions directly from your profile.
Will ModelDrop add more features over time?
Yes, definitely. ModelDrop is under active development, and we're continually adding new templates, capabilities, and improvements to the extraction and modeling experience. New features are included with your subscription as they roll out.
Can I use my own model or template inside ModelDrop?
Bringing your own model into ModelDrop is coming soon. In the meantime, if there's a specific model or framework you need supported, our Custom Solutions team can build it for you. Reach out through Custom Solutions to get started.
