Deals product FAQ

Yes, you can create a dummy sponsor to use across multiple preliminary deals. The best approach is to create one generic sponsor (like "TBD Sponsor") and mark all 50 states during initial setup. This ensures you capture all potential lenders regardless of location. Once a sponsor is attached to deals, you can't edit their location, so setting up all states initially is important. You can then reuse this placeholder sponsor for investment sales deals where the actual borrower hasn't been selected yet. When sending outreach emails, you can edit the message templates to use generic language like "reaching out on behalf of a potential client" or "seeking soft quotes for an unidentified buyer."

When you enter deal information in Lev, it serves multiple purposes. First, it filters our database of lenders to show you the best matches for your specific deal using five key criteria: loan type (permanent, bridge, construction, or land), property location, property type, loan amount, and sponsor location. Second, it helps you organize and track all your deal information in one place. Third, if you choose to use our deal book or memo builder, this information will automatically populate into those documents. The information you enter is primarily for your internal use and won't be shared directly with lenders unless you specifically include it in communications or documents you send to them.

To create a new deal, click the "New Deal" button and enter basic information including deal name, property address, property type, and sponsor details. You can create a deal with just a name if needed - other fields can be completed later. Creating a deal does not make it visible to lenders automatically. The deal setup is primarily for your internal reference and organization. Lenders will only see deal information when you actively share it with them through deal books, data rooms, or direct communications.

Stabilized value refers to the projected value of the property 3-5 years after project completion, once the property has been fully stabilized and any planned improvements or renovations are finished. This represents what you expect the property to be worth after all project costs have been invested and the property is performing at its intended capacity. This could also be considered the exit value if you plan to sell the property at that point.

For mixed-use properties, categorize the asset based on which component generates the most income. First, identify your main income-producing component (restaurant, multifamily, retail, etc.). Then select the asset type that best matches that primary income source. For example, if a restaurant is the main income generator in a mixed-use property, select 'Retail' as the asset type and 'Single tenant net lease' as the subtype. This approach ensures your property is matched with the most relevant lenders for your primary use case.

You can update deal status in several ways: 1) Click on the specific lender conversation, then use the status dropdown to select 'Closing' or 'Closed'. 2) Go to the Pipeline view and either use the status dropdown in list view or drag the deal to the appropriate column in kanban view. 3) From the Financing section, drag and drop the deal to the 'Closed' section. When marking a deal as closed, you'll be asked to select which lender you closed with. This will automatically update the deal status across all views in the platform.

You can create deals using various types of input data without needing to clean or format them first. The AI can work with raw call notes from sponsor conversations, call transcriptions from any transcription software, dense notes about a deal, or even copy-and-paste content from offering memorandums (OMs). Simply paste your unformatted notes or transcripts directly into the system, and it will extract the relevant information to create your deal automatically.

The acquisition pipeline is for deals you're aware of but don't have under contract yet - it allows you to prepare deals and start floating them with lenders before you're officially ready to close. The financing pipeline is for all types of financing needs including refinancing, ground-up construction, and deals you're ready to actively pursue. Once you get an acquisition deal under contract, you can easily move it from the acquisition pipeline to the financing pipeline.

You can start with minimal information - just enter the basics like title, address, units, and asking price. Lev offers both pre-built pipelines (acquisition and financing) and the ability to create custom pipelines with your own statuses and terminology. The acquisition pipeline is perfect for building deal skeletons with minimal information before moving to the financing stage. You can easily transfer deals from the acquisition pipeline to the financing pipeline without recreating them, keeping all your deal information and resources in one place throughout the entire process.

Fund recourse is a type of loan guarantee structure where multiple partners pool their assets into a single fund that acts as the guarantor, rather than using personal guarantees or going non-recourse. Instead of individual personal assets backing the loan, the collective fund with various entities and properties serves as collateral. This structure is much less common than traditional personal guarantees or non-recourse loans.

You can input your financial data directly into the form fields displayed on screen. All numbers shown are placeholder values, so you can simply click on any field like purchase price or project cost and enter your actual deal information. Your cursor will guide you to the correct input areas.

Basic deal information including address, loan amount, loan type, and asset type is required to generate a lender list. This core data helps determine the market and applies hard filters to curate potential lenders. Financial information, while not always mandatory, enhances the process by informing our loan sizing tool, improving lender rankings, and populating deal rooms when you outreach to lenders. You can access basic lender search functionality with minimal data, but comprehensive financial details are needed for the full lender search feature.

A property address is typically required to create deals, as it helps determine the market and generate appropriate lender matches. However, there are workarounds available for non-real estate deals - you can use a business address or any address within the same zip code area. While this isn't the optimal approach, it's possible to create the deal and adjust the address details later in the background as needed.

Yes, you can create deals without a sponsor. Simply leave the sponsor field blank or enter "N/A" as a placeholder - this information won't be shared with lenders. You can also modify your outreach email templates to remove sponsor references by editing phrases like "reaching out on behalf of" to simply "reaching out about this property." If lenders ask about sponsors later, you can address those questions when they come up during your conversations.

Use the deal creation workflow to find available asset subtypes or property subtypes. The lender directory shows high-level information on lenders, but it does not include asset subtypes or property subtypes. You can only see those options from the deal creation workflow.

Lev analyzes your sheet and infers the pipeline and status from context — for example, a lender column signals a financing deal. For the off-the-shelf pipelines it chooses between acquisition and financing, and it won't automatically detect custom pipelines. To get it right, add a column with the exact pipeline name. You can also change the pipeline and status for any deal in the preview before you import.

Lev supports four deal types based on the type of user: finance, investment sales, lending, and equity. The deal type reflects what you do — an investment sales broker works an investment sales deal, a lender works a lending deal, and so on. These are not the same as transaction type, loan type, or asset type. Your deal type controls which fields and sections show; for example, an investment sales deal won't show loan request or loan info sections.

You get a set of default pipelines created based on the role you select when you sign up. For example, lenders get screening, active lending, and lost pipelines; investment sales brokers get sales and originations pipelines; and finance users get finance and acquisition pipelines. All of them are customizable.

Yes — you can edit the statuses on all pipelines except the financing and acquisition pipelines, whose statuses are locked because they map to the financing workflow.

Click New Pipeline to open the template library of suggested pipelines, like a closing pipeline or a pipeline to track closed deals against maturity dates. You can add as many as you want and customize the statuses.

Yes. Each pipeline has configurable columns for property, financial, and deal fields. Investment sales pipelines show fields like asking price instead of loan amount. You can add or remove columns from pipeline settings.

Yes. Pipeline list and Kanban views support inline editing for configured fields, so you can update values without opening each deal.

Kanban uses the same field set as your pipeline configuration. You can show all configured fields or switch to Lev's default field set. You can't assign different field sets per view yet.

Yes. Add a closed date column to your pipeline, edit it inline in list view, and use pipeline reporting to filter and export by close date.

No, Lev doesn't function as a traditional filterable lender database. To get filtered lender results, you need to create a deal and input your specific parameters (location, loan amount, property type, etc.). The system then automatically matches you with appropriate lenders based on these criteria. For specialized loan types like SBA loans, filtering is available through the capital source selection during the lender selection process. While you can't save searches or export results without creating a deal, this approach ensures you get lenders that actually match your specific deal requirements.

Entering deal information serves two main purposes: First, it filters our database of over 7,000 lenders to show you the best matches for your specific deal using five key criteria - loan type, property location, property type, sponsor location, and loan amount. Second, it organizes all your deal information in one place and automatically populates data into deal books or memos if you choose to use those features. The system uses hard filters to narrow down lenders based on your deal parameters, ensuring you only see lenders who actively work in your market, asset class, and loan size range.

When you create a deal, the platform generates a list of matching lenders based on your deal criteria. The system has a default limit of 25 top-ranked lenders to prevent mass distribution, but this doesn't mean other lenders aren't good fits - they're just ranked lower based on various factors. To see additional lenders beyond the top 25, scroll past the checked lenders to find unchecked options you can manually add. You can also use filters to refine your list by lender type, location, or other criteria and update your results accordingly.

Mixed-use properties aren't currently available as a separate property type due to the wide variability in mixed-use configurations. A lender that finances residential-over-retail may have different criteria than one that finances flex warehouse with self-storage, making it difficult to provide accurate lender matching.

For now, choose the asset type based on the primary income driver of your property (whichever component generates higher NOI). In your initial outreach email, delete the automatic inputs and customize the message to explain that it's a mixed-use property, detailing both uses and their functions.

New search capabilities are being developed that will provide more flexibility for complex property types like mixed-use. Even if some suggested lenders aren't a perfect fit, the outreach process helps you build relationships with new lenders for future opportunities.

Lev matches deals to the most appropriate contact at each lender based on several factors: geographic territory coverage, property type specialization, transaction history, and loan size experience. For example, if you're placing a hospitality deal in Illinois, the system will route to a contact who covers the Midwest region and has experience with hospitality properties. Regional banks typically have territory-specific contacts, while larger institutions and debt funds may have specialized contacts for specific property types nationwide.

When you archive a deal, it moves to your archive pipeline but all data is preserved. You can always access archived deals from the left sidebar under your archive pipeline. All placement information, lender communications, and deal details remain intact. If needed, you can unarchive the deal to restore it to your active pipeline with all information preserved. We use archiving instead of deletion to prevent accidental loss of valuable deal history and lender relationships.

Lev uses intelligent contact routing based on your deal parameters, geographic location, property type, and historical data. The system analyzes transaction history, responsiveness rates, and territory coverage to surface the best contact for your specific deal. For example, a lender might have different contacts for different regions or property types - the system will automatically route to the contact who covers your area and asset class. If you have your own contact at a lender, you'll see a dropdown option to choose between your contact and Lev's recommended contact. You can also separate your outreach between existing relationships and new contacts to customize your messaging appropriately.

Yes, Lev includes pipeline management for both acquisition and financing stages. You can create custom pipelines with your own statuses and terminology, or use the built-in acquisition pipeline that tracks deals from initial radar through underwriting, LOI signing, and due diligence. The financing pipeline covers the process from preparing materials through lender outreach, negotiating, and closing. You can easily move deals from the acquisition pipeline to the financing pipeline without recreating the deal, keeping all your resources and deal information in one place throughout the entire process.

You have two options for handling multiple guarantors: 1) Add each individual guarantor as a separate sponsor in the system, or 2) Keep the main entity as the sponsor and include detailed information about individual guarantors in the 'About Me' section, which will appear in the deal book. For document collection from multiple sponsors while maintaining privacy, the system can create separate tasks assigned to different guarantors. When you send them collection links, each person will only see their own requirements and tasks, not those of other guarantors on the deal.

Yes, you can use the platform to search for lenders by market and property type to get a high-level overview of available lenders. This will show you lenders with programs that match your broad criteria (like multifamily properties in New York), but won't provide specific contact information. You can refine your search by market type (primary, secondary, tertiary) to narrow your results. For the most accurate lender matches and contact details, you'll need to create a full deal with specific property information and loan request details. The platform covers most real estate lenders, though we don't currently support equity contacts like family offices, and while there's no specific SBA filter, most banks offer SBA programs.

Unfortunately, deals that are lost due to session timeouts cannot be recovered and will need to be recreated from scratch. To avoid losing work in the future, make sure to save your progress regularly and be aware of session timeout limits when creating new deals.

The directory provides a high-level view of all lenders in our database, with basic filtering by state and asset type. However, detailed filtering and contact information are only available after creating a deal, where our AI matches lenders based on your specific deal parameters and provides a scoring system. We're currently revamping the lender search functionality to include more granular filtering options, including use of proceeds, lender types (balance sheet, SBA, etc.), and other detailed criteria directly in the directory.

Currently, you can only add one sponsor entity per deal. For deals with multiple sponsors, we recommend creating a holding company or LLC name as the main sponsor entity, then listing the individual sponsor names in the 'about me' section. You can also select multiple states to cover all sponsors' geographic footprints. Since you control the final documentation shared with lenders, you can present the sponsor information however works best for your deal structure.

Currently, memos do not automatically update when you change underlying deal data like purchase price or total cost. You'll need to either regenerate the entire memo with the new data or manually update the information in the editor. Automatic updating is planned as a future enhancement that will roll out in 2026, along with better detection of data changes and showing you where each piece of data originates from.

Currently, the lender selection list shows all potentially relevant lenders and doesn't automatically filter out those who have previously rejected similar deals. You'll need to manually avoid selecting lenders you know aren't a good fit each time you create a new deal. However, you don't have to remove them from the list - simply don't click on them when making your lender selections. This functionality may be improved in future updates to better remember lender preferences and automatically refine suggestions.

The recourse field specifically refers to payment guarantees or repayment guarantees, not other types of guarantees like bad boy carve-outs, completion guarantees, or interest carry guarantees.

This field helps with lender matching but isn't directly shown to lenders and doesn't completely determine your lender list. Many brokers start by selecting "non-recourse" as their preference and then use it as a bargaining chip during negotiations, even if the borrower might be open to recourse on a deal-specific basis.

You can provide additional context about acceptable guarantee types (like completion guarantees) in your communications with lenders, and some lenders may be willing to stretch their typical requirements based on how attractive your deal appears.

To archive a deal, click on the three dots (ellipsis) in the top right corner of your deal page and select "Archive Deal." You'll need to provide a brief description (even just a space works). Archiving removes the deal from your active deals page and stops automated follow-ups and marketing status reports. You cannot permanently delete deals once they've been launched, but archiving effectively removes them from your workflow. If needed, you can later unarchive deals or duplicate them using the same three-dot menu.

To generate a lender list, you need to provide five key pieces of information: 1) Property address (determines the market), 2) Asset type and subtype, 3) Sponsor location, 4) Loan amount, and 5) Loan type and transaction type. These parameters serve as the primary filters that determine which lenders will appear in your suggested lender list. Once you complete this basic deal information, the platform will automatically suggest the top-fitting lenders based on these criteria.

Yes, you can archive deals using the archive folder feature. When archiving a deal, you'll be prompted to provide a reason for archiving it. Archived deals can be easily restored if they come back alive for any reason - simply go to your deals section and take the deal out of the archive. This approach preserves all your data including any placement tables you've created, rather than permanently deleting the information.

The loan amount fields refer to each lender's program limits, not your specific loan request. You can view a lender's verified loan ranges by clicking into their profile and selecting the "Programs" section, which shows their minimum and maximum loan amounts along with other parameters like asset types. When you input your loan request amount during deal creation, the platform automatically filters out lenders whose programs don't match - for example, if you need $3 million but a lender only does loans from $5 million and up, they won't be suggested as a match. However, if you have an existing relationship with that lender, you can still manually send them deals outside their typical program parameters.

Yes, all deal data and lender interaction history remains accessible indefinitely. You can reference deals years later to see which lenders you contacted for similar transactions. The platform maintains a complete activity history for each lender, allowing you to track all past interactions and make informed decisions about future outreach based on previous responses and preferences.

There are two ways to add guarantor information: 1) Click the pencil icon on any slide to edit directly and add sponsor details or bio information, or 2) Go to the Network tab, click on Sponsor, then Profile, and select "Add sponsor information." You can either add individual guarantors as separate sponsors or keep the entity sponsor and include guarantor details in the "About Me" section, which will populate in the deal book slides.

The sponsor list pulls from sponsors that your team members have previously added across all deals. When anyone on your team adds a company as a sponsor, it gets added to your overall network and becomes available for future deals. If you don't see the sponsor you're looking for, you can scroll to the bottom of the list and click "Add New Sponsor" to create a new entry.

Automated market research capabilities are currently in development and expected to be released in Q1. The team is working on different layers of research functionality, including company-level and market-level analysis. This feature is not yet available but is actively being developed.

You can enter either the property address or a custom deal name in the deal name field. If you use an address, it will auto-populate from the address database, but there's a separate address field as well. After entering your deal name, make sure to click off to the side of the address dropdown list to avoid accidentally selecting an address. The address information helps determine the county and market for your deal.

You can view deals from other team members by clicking on "Deals" and navigating to the appropriate section (such as "Pre Launch" for deals that haven't been launched yet). If you can't see a colleague's deal, it may be because deal access has been separated for privacy. To add team members to a specific deal, hover over the deal team section and click the pencil icon that appears. You can then add team members and choose their permission level - either full access or view-only access.

The amount of information required depends on which features you want to use. For basic functionality, you only need to enter basic deal information including the address (to determine market), loan request amount, loan type, and asset type. However, to access the lender search feature and get a curated lender list, you'll need to provide financial information as well. This financial data is used for loan sizing calculations, lender matching with hard filters, and populating deal rooms when you outreach to lenders.

You can view options for asset subtypes or property subtypes when creating a deal, but not within the Market tab. The Market tab is better for high-level research across asset and property types, but it doesn't break down subtype data.

Classify covered land plays as Land (not Specialty - Other Specialty). Use Land Banking for long-term holds with no near-term development, Predevelopment for active development plans, Lot Development for residential subdivision work, and Entitled/Unentitled based on current entitlement status. Future use and timeline determine subtype.

Select the post-conversion (end use) asset type (e.g., hotel-to-data-center = Data Center). For conversion deals, use Heavy Bridge. Lenders care about what the property will become; choosing current use leads to mismatched lenders.

Industrial Outdoor Storage (IOS) is most accurate but has a smaller lender pool; Industrial Warehouse is broader. Use IOS for precision and niche IOS lenders; use Industrial Warehouse for wider reach if you're OK filtering in outreach.

Use Specialty > Gas Station (not STNL Retail). This surfaces gas-station-specific lenders.

Best practices: choose the correct (and most specific) asset/sub-asset type; choose the correct loan type (bridge/permanent/construction/land) based on the financing purpose; for conversions choose post-conversion asset type; for land choose the correct land subtype; check lender type filters so you don't exclude key categories; for mixed use choose the dominant income stream; and avoid accidentally narrowing the list with filters or misclassification.

Yes, you can add terms from external sources to track them alongside your other options. First, you'll need to add the lender or broker to your contacts by clicking 'add lenders' and then 'add new contact.' Enter their email to create the contact. Once they're added to your network, go to the placement table and access their conversation while they're in 'new' status. You can then manually add their terms, which will automatically pull into the quote matrix for easy comparison and tracking purposes.

Lev uses a dynamic ranking system based on lender feedback and performance. When lenders decline deals that match their stated programs, they move lower in the ranking rather than being immediately removed. After multiple negative responses, they may eventually be removed from suggestions. The system uses AI to continuously collect transaction data and feedback to build more accurate lender programs and automatically update rankings, making the matching process more precise over time.

The post-LOI tracking feature is currently in development. Once it launches, you'll be able to use the vault feature as a checklist to manage tasks after signing an LOI with a lender. This will allow you to create a dedicated vault specifically for deals you're working on with lenders and track the checklist of items you need to complete during the due diligence and closing process.

To view your quote matrix, navigate to your deal and click on the Outreach tab. Once there, click the Quick Actions button and select View. The quote matrix displays all the terms you've received from different lenders in an organized format, allowing you to compare quotes side by side. You can also manually add terms from lenders outside the Lev platform by adding them to your network first, then pulling them into the deal from the My Network tab.

The Quote Matrix automatically compiles all lender quotes side-by-side as you receive them via email, whether in email body text or PDF term sheets. It extracts key details like loan amounts, interest rates, LTV ratios, and calculates debt service payments for easy comparison. You can export this data to Excel or CSV format.

MSR (Marketing Status Report) generates an AI-built 6-8 page PDF summary of your deal's marketing progress, showing which lenders provided terms, which haven't responded, and which passed. This report is ideal for sharing updates internally with your team or with sponsors who want to track your outreach efforts.

Top matches use a real-time feedback system that continuously improves accuracy based on actual lender responses. When a lender responds positively to a deal, they move up in future rankings. If they pass or indicate the deal is outside their parameters, they move down the list.

The accuracy varies, but the system learns from each interaction across the platform. Your existing relationships also matter - a lender might work differently with you than with other users. Most successful users focus on top matches for better results rather than casting a very wide net, as this typically yields higher response rates and better terms.

Yes, the quote matrix includes filtering capabilities. You can access these options through the display settings to customize how you view and organize your quotes.

You can generate comprehensive deal progress reports using the Marketing Status Report feature. To create one:

1. Click the Quick Actions dropdown
2. Select "Generate New Report"
3. Provide any deal updates when prompted by the AI

This generates an 8-10 page PDF that includes your placement table, lender response status, number of term sheets received, specific terms offered, pass reasons, and overall deal progress. The report is easily shareable with borrowers and provides a complete snapshot of your marketing efforts and results.

You can export your quote matrix at any point by downloading it as a CSV file, which you can then share with your team or clients. The system automatically populates the quote chart as terms are received, reducing manual work.

The quote matrix automatically extracts and displays loan terms from lender responses using AI, whether the quotes come in email body text or PDF term sheets. It pulls in details like loan amounts, LTV ratios, interest rates, and calculates debt service payments for easy comparison. Quotes are displayed chronologically as they're received, but you can manually reorder them using the arrows next to each lender's name. You can also export the quote matrix to Excel or CSV for further analysis. If you receive multiple quotes from the same lender, you'll need to manually group them together as they won't automatically be organized by lender name.

Lev uses a dynamic ranking system that continuously learns from lender feedback and market activity. When you send a deal to a lender who declines (even if they theoretically fit the criteria), they move lower in the ranking for similar future deals. Multiple negative responses can eventually remove them from recommendations entirely. The system also uses AI to scrape transaction data from the web and automatically updates lender programs and capabilities. This creates increasingly accurate lender matches over time, while still allowing flexibility for changing market conditions and lender appetites.

The expiration date you set for your deal typically won't significantly impact your lender list or lender rankings. Whether you set it for end of year or a specific date like mid-February, the system focuses more on deal type and lender capabilities rather than timing. The expiration date is primarily helpful for setting expectations with your team and the borrower about the deal timeline.

Currently, once you sign a term sheet and move into the closing process, you'll continue using your existing workflow outside of Lev. However, a closing management feature is in development and expected to enter beta testing by the end of the month, with full release planned for early in the next quarter.

No. A deal’s type does not have to match a pipeline’s default deal type. You can add any deal to any pipeline.

Yes. A deal can live on more than one pipeline at the same time — it is not limited to a single pipeline.

Yes. Each pipeline can have a default role for you — for example, an investment sales broker's pipeline defaults you into the investment sales broker field, and a lender's pipeline defaults you into the lender field. New deals in that pipeline set your role automatically, and you can set this retroactively on any pipeline.

Yes. Commissions and invoicing now work with any company type on a deal. On an investment sales deal you can record that the seller pays you 5% and generate their invoice; on another deal you can charge the equity provider a fee. Anywhere you used to generate an invoice for a sponsor, you can now do it for any company type.