The Deals app makes tracking under-agreement and purchased deals easy. Deals will be automatically created if you select Under Contract in the Status field within a Seller Record. Once selected, all pertinent information from the Seller Lead will be added to the new Deal Record.
In order to avoid workflow issues, we recommend that you do not create a Deal manually. Instead, navigate to the Status field in a Seller Lead record and select the Under Contract or Won Deal to create a new deal.
Certain fields from the Seller Lead will be automatically populated in the Deal record once a Deal is created.
Property Address & Deal Type: These fields will be automatically populated from the Seller Record. To change either of these fields, do so in the Seller Record.
Purchase Status: This field will be automatically populated from the Seller Record. However, if you change the status in Deal Record, the Seller Lead record will be updated.
Purchase Price: This field is not pulled from the Seller Record because it is subject to change. The Seller Record is typically an estimate, while the Deal Record will contain actual numbers.
Purchase Closing Date: Enter the actual date of closing here.
Marketing Campaign: This shows the marketing campaign associated with the Deal Record and will be automatically populated from the Seller Record.
Phone Campaign: This shows the phone number associated with the Deal Record and will be automatically populated from the Seller Record.
Buyer Contact: Select a buyer/investor from the dropdown or create a new one by selecting Create new item from the bottom of the list. Once a buyer/investor is selected, this Deal Record will be associated with them. To view Deals related to a specific Buyer/Investor, refer to managing Buyers/Investors.
Sale Type: Select the type of sale. To create additional sale types, refer to modifying templates.
Assignment/Wholesale Checklist: This example checklist provides a step by step guide. To modify these steps, refer to modifying templates.
Sale Status: Select the status of the sale. To add additional statuses, refer to modifying templates.
Sold Price ($): Enter the actual sale price of the property here.
Selling Closing Date: Enter the actual date of closing here.
Record actual costs/profit in the Financial Info section.
Purchase Price ($): This will be pre populated from the Purchase Price field above once the Deal Record has been saved.
Construction Costs ($): Enter the actual construction costs here.
Holding/ Other Costs ($): Enter any purchase, holding and/or selling costs associated with the deal.
Total Invested ($): This will automatically calculate using the sum of the purchase price, construction costs, and holding/other costs fields.
Profit ($): This will automatically calculate based on the sold price minus the total invested amount.
Holding Time: This will automatically calculate based on the number of days from purchase to sale.
Profit per Month ($): This will automatically calculate based on profit divided by the number of months the property was held.
Profit as % of Sold Price: This is a calculation that many investors use to identify their return as a percentage of the resale price.
The Additional Info section may be used to add attorneys info and additional notes.
Each field allows you to select a professional contact from the dropdown or create a new one by selecting Create new item from the bottom of the list. This can be helpful to check back on from time to time. If a particular attorney was challenging, you may want to recommend that the seller/buyer use a different attorney on the next deal.
This section can be modified if you invest in a Title state. To delete the additional attorney fields and change the name of the field, refer to modifying templates.
Provide any Additional Deal Notes in the indicated field. Create tasks related to the Deal. For more information about tasks, refer to Podio support.