How TermSheet is Doing the Work of Multiple Tools for Cambio Communities
Based in Michigan, with properties spanning the US
Mobile home communities
What they love about Termsheet
Has allowed them to build a proprietary comps database
Eliminates the need for various additional tools and data sources
Saves them a valuable amount of time & money
Cambio Communities is a property management company in the manufactured housing space that owns and operates mobile home communities across the US, with a majority in the Midwest. Founded in 2020, they are currently operating 40 properties consisting of over 10,000 mobile home sites, with more deals due to close by early 2024 as their portfolio continues to grow.
Before TermSheet, Cambio had been utilizing a different system to manage their pipeline of deals. Barron Cline, Chief Investment Officer at Cambio Communities, tells us they reached a point where they had to step back and figure out how they could improve their efficiency because working between various different tools and data sources was slowing them down. They needed one system where they could do all their work and store all their information.
Cambio came across TermSheet and saw that our platform would provide the centralization they needed to be able to eliminate additional tools and do all their work in one place. But what really sealed the deal in them choosing TermSheet as their software solution, according to Cline, was one additional detail we had to offer.
“The email component was crucial for us. It was something that nobody else had. So anytime we would have correspondence with a broker or seller, we would have to not only reply but then log that information in a separate system. The ability to tag an email and have it automatically added to a particular deal in TermSheet saves us a tremendous amount of time and keeps us organized.”
It was especially important for Cambio to have somewhere they could log any relevant comp information when they come across it, as they say this data is not something that’s always readily available in the manufactured housing sector. Cline says TermSheet has been especially pivotal here, as it has allowed them to actually build their own database of comps that they can access as needed and use to drive more informed decision-making.
“Without TermSheet, we wouldn’t have been able to grow as fast as we have.”
TermSheet has also transformed the way Cambio works, which Cline explains is now a ‘funnel system’ that they’ve formed within our platform and use on a daily basis:
First, their Acquisitions department uses TermSheet to see as many deals as possible, track them all, and monitor all opportunities in Cambio’s purview.
Next, they use a ‘committee approach’ to review the deals that have come in and decide if they are worth pursuing. TermSheet provides crucial visibility among employees, investors, and other key stakeholders.
Then, deals go to the Underwriters to complete the due diligence phase of the process.
The final stage of this TermSheet funnel, before deals close at Cambio, is for them to go to their Executive team to view the model, see the additional information about it that can be found within TermSheet, and make the final decision on it.
This funnel that Cambio has created allows each of their departments to seamlessly complete their roles within the deal pipeline without needing to bounce between systems or search for information. Cline says it also enables them to really see every opportunity and pick the best ones to pursue. “We wouldn’t have been able to do this at all if we didn’t use TermSheet’.”
Another impact TermSheet has had on Cambio is the way it has answered their need for consolidation and provided everything they need within one system. This has already proven to save Cambio money and time that had previously been spent on additional tools and moving information across various sources. Now, their mapping, comps, communications and more are all on TermSheet, and Cline says Cambio has become noticeably more efficient as a result.
To summarize, Cline says what Cambio has gained the most from operating on TermSheet is efficiency, data organization, and partnership. He adds that they have consistently felt heard and valued by our team, and that they appreciate our willingness to always find a solution for them if one may not exist yet.
“Things have only improved, improved, improved since we started using TermSheet. And I’m excited to continue growing together!”, he concludes.
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