Now that we know how to create a Deal, we’ll learn how to navigate the Deal page. Once you create a Deal, either through manual or intelligent Deal Creation, you will be directed to the Deal page. This article will focus on showing all the functionality that exists there, to find more information on how each modal functions you can find the relevant help article for each tool that Blooma offers. Starting from the top of the page, this is the list of tools and functionalities that live on your Deal Page:
- Deal Score
- Originate Deal
- Deal Details
- Deal Widgets
- Valuations Section
- Property Details
- Add Collaterals/Components
- Unit Mix
- Sales/Rent Comps
- Rent Roll
- Market Data
- Cash Flow/Net Worth/Liquidity
- Stress Test
- Document Upload Center
Blooma’s Deal Score allows an Administrator to set custom parameters with which to rank and score Deals as they are uploaded to Blooma. To select a score profile, or to see score breakdown, history, or comparison, click on the Deal score in the top left corner of the Deal Page.
Once you or your organization has approved a Deal, you can click this button in the top right of your screen to “Originate Deal”. This will move the location of your Deal on the homepage from the Pipeline Deals silo, to Portfolio Deals silo. This action cannot be undone, originating a Deal will let you track loan balance and term, as well as will automatically refresh market details.
Viewing Deal Details also allows you to edit Deal Details. Here you can see all the editable fields which will automatically update your Deal when add information and click “Save”. See Edit Deal Details section for more information.
On the sidebar of each Deal are a collection of useful widgets. In descending order here is some information on each widget:
Select Sub Status
Change Deal Owner
Edit Deal Details
Make relevant comments on a Deal
See Template Help Section
Print a one page document containing all Deal data in the Deal Page
See recent Deal activity
See all documents uploaded to a Deal
Deal Creation Trail
See what Blooma has done since a Deal has been created
The sections below and next to the Deal Details Section are Blooma’s Valuation Sections. Here you can compare valuations and select which valuation to use in Deal calculations like LTV. Click on a bar in the Valuations table on the right to set the Deal valuation model. See Valuations section for more information.
Note: Blooma will create a new Property Income Valuation when you upload P&L data both at Deal Creation and through the Document Upload Center after Deal Creation. You can also create your own custom income valuations by clicking “Property Income Valuations” and selecting “+Add Valuation”.
Below your valuations section you’ll find Property Details containing information about your selected asset. Click on “Learn More” to see all the data associated with the address you’ve inputted into the system. For more information, see our article on Editing Property Details.
Adding Collaterals and Components to a Deal in Blooma is Easy. Just click “Add New Collateral” or “Add Component” and fill out the required fields. For more information, check out some of our articles about Editing a Deal.
Note: Creating a new Collateral requires an address and will allow you to create new valuations broken down by Collateral, whereas creating a Component will create a new tab inside of the Collateral above. New Components will allow you to upload and view Component-specific unit mix, rent roll, and comparables data.
The Blooma system will attempt to fill in the Unit Mix with either market data, or from data uploaded through Intelligent Deal Creation or the Document Upload Center. The Unit Mix requires you to enter a figure for square footage in order to save, and will use the data entered to help pull relevant Comparables in the area.
In this section Blooma populates Sales and Rent Comparables based off of data like Component square footages, location data, and bed/bath count. Check out your list of Sales and Rent Comps here as well as your Valuation created from Sales Comps. Check out our Comparables section for more information.
Upload a Rent Roll at Deal Creation, at any time after creation through the Document Upload Center, or manually key in the information yourself. Although you need to upload documents one at a time, Blooma allows multiple rent rolls to be added and stored in the system. You can compare Rent Rolls against each other, and against your comparables with the button in the top right corner of the Rent Roll section. Also, use your rent roll data to populate things like revenue and vacancy in your valuations!
You can also create a “Smart Rent Roll” for Residential and Commercial assets. Using an actual rent roll, click “Add Rent Roll” and select “Smart Rent Roll”. This will create a new rent roll using actual lease prices for occupied units, while filling in market rates taken from comps for the vacant units. Smart Rent Rolls are a great way to model the potential success of partially unoccupied spaces.
Blooma provides a Commercial Location Score from Moody’s, as well as a plethora of Market Data. From Submarket Overviews to Future Outlooks, check out this section to gather insights into the market that your asset is seated in.
Cash Flow/Net Worth/Liquidity
If there are any Borrowers or Guarantors/Sponsors associated with a Deal, their information will show up in this modal. Toggle between Cash Flow and Net Worth/Liquidity tables. For Deals that have more than one collateral, you can click the blue “Collateral” link in the top left of the table to view the Portfolio Deal Cash Flow table where you can compare cash flows between collaterals.
If you’d like to add, edit, or delete any contacts associated with the Deal you can do so by clicking “Edit Contacts” within the modal, or from the Contacts tab itself. Clicking “Edit Contacts” from this modal will open the following popup.
From this screen users are able to select any existing Company or Individual Contact that have already been entered into the system. This would be the case if you are working with borrowers or guarantors from previous loans. To add a pre-existing contact to a Deal, select the “Add a Contact” icon under the Contact Type you are looking to add. This will open a subsequent screen where you will select either Person or Company. Next, start typing the name of the existing Contact within the name field. This will provide all of the existing Contacts by name, you can select the “Add” icon once you have found the Contact you are looking for.
If you would like to add a Contact to the Deal that does not already exist in the system, you will need to select “Create New Person” or “Create New Company” from this popup. You will then be prompted to enter either personal or company information for the new Contact. Once the new Contact has been created, that Contact will be automatically added to the Deal you are working on. All borrowers and guarantors that have been added to the Deal can be removed from the Deal Contacts page by hovering over their name and selecting the red trash can icon to the right of their name.
Stress testing a Deal is an important part of understanding a property's possible future limits. From here you can select from Low, Medium, High, and Custom amounts of stress to impose on your Deal. Edit Revenue, Expenses, Cap Rate, Vacancy, and Interest Rate to get a better view at how your asset might perform. Click “View Complete Stress Test” to see more details.
Document Upload Center
Located at the bottom of the Deal page and individual Contact page is the Document Upload Center. After a Deal has been created you can upload P&L and Rent Roll data from the Document Upload Center. If there are any Contacts associated with the Deal, upload Contact information here as well including Tax Returns, Personal Financial Statements, and Schedules of Real Estate. Upload files one at a time per file type and Blooma will parse and upload all relevant data contained in the files you upload. You will receive a notification when the data has been uploaded! For more information, visit our section on the Document Upload Center.