How Broome Improves Newcoast's Underwriting and Reporting Processes

Company Overview

Mike co-founded and leads Newcoast, a lean, high-performing self-storage acquisitions team. With a small team handling deal flow, underwriting, and investor relations, every hour spent on admin work is a deal left on the table.

Broome has fundamentally changed how we run our deal review. Deal pipeline is the engine of our growth, and Broome has changed how we manage it. We underwrite more, have sharper 'kill it or move forward' conversations, and communicate more effectively with our capital partners. The work Broome does is what we'd typically hand to a first-year analyst, so it directly reduces the time our team spends on administrative tasks and lets them focus on actual real estate analysis instead.

— Mike, Co-Founder, Newcoast

The Challenge

Newcoast was spending too much time on manual underwriting prep and fragmented reporting.

Underwriting before Broome

Before analysis could even start, Newcoast's Associate had to do heavy prep work:

• Manually extract deal basics (square footage, broker details, unit mix) from OMs into the pipeline
• Convert PDFs to Excel, then spend 30+ minutes cleaning and restructuring data (combining unit types, unmerging cells, aligning columns)
• Run preliminary real estate tax analysis (another ~20 minutes)

Reporting before Broome

Without a centralized system of record, the team spent 2-3 hours each week just getting aligned.

Internal

• Pipeline meetings required flipping through models, files, and notes deal by deal
• Each deal discussion could take 10-15 minutes just to establish context
• The spreadsheet tracked ~25 deal data points that were cumbersome to update manually

External

• Investor pipeline reporting required manually pulling data from spreadsheets
• Every update had to be reformatted deal by deal, creating repetitive work

The Solution

Broome gives Newcoast one operating system for intake, underwriting prep, and reporting.

Underwriting with Broome

Now, when a new deal comes in, Newcoast's Associate uploads it to Broome and continues with higher-value analysis. What used to take an hour now takes about 10 minutes.

• Deals are added to the pipeline from email with no manual data entry
• Rent rolls and financial data are parsed automatically from deal documents
• No manual PDF-to-Excel conversion or column restructuring

Instead of spending an hour on data entry, we upload the deal folder and get right into the analysis. We're underwriting dozens more deals every week because Broome handles the low-leverage prep work.

— Mike, Co-Founder, Newcoast

Reporting with Broome

Notes, files, tasks, and deal points are captured in one place, so everyone stays current.

• Weekly pipeline meetings focus on strategy, not information gathering
• Pipeline status updates are automated
• Newcoast shares a current Broome report covering deal status, key dates, and equity needed