Case Study Upright Leverages Smart Technology to Take the Hassle out of Real Estate Funding
Upright is a team of entrepreneurial, tech-loving, creative, and solution-focused innovators. We launched in 2014 out of frustration with the status quo of slow, unreliable capital and gate-keeping into investment deals.
First Phase Key Improvements
Reduction in Copy-Paste Errors
Time Saved in Preparing Documents
Documents Generated in Legito
Automated Documents Created Across 7 Templates
Separate Documents Automated and Merged into 1
- Upright is the first and only real estate investment Platform to provide market-leading loans underwritten and originated in-house, easy and comprehensive REI management software, and your next passive investment opportunity.
- Launched in 2014 with over $2 billion in funded deals across 35 states.
- Hybrid workplace with offices in New York, NY, and Cleveland, OH.
Legito enables our teams to prepare documents within a short turn-around time and allows for optimized scalability as our business continues to grow.
- Prior to Legito, preparing legal documents required a great deal of time and effort.
- There were many repetitive tasks, and information needed to be manually entered and verified.
- Bottlenecking developed as volume grew but our drafting process remained the same.
- We needed a way to streamline our process.
Key Factors for Selecting Legito
- Legito can prepare multiple document packages at once by importing a .csv or .xls file.
- We export this data from our Platform directly, automating the majority of our document drafting process.
- Legito’s interface is very intuitive and user-friendly.
- It is possible for someone without a background in coding to create and maintain documents.
- When we have questions or need support, Legito’s Professional Services team is readily available.
Implementation and User Onboarding
- We had direct support from Legito’s Professional Services team in building our loan documents.
- They created a data entry form, imported our existing loan documents into Legito, added conditions linked to our form, and formatting.
- Over 100 pages of interrelated documents were automated.
- By utilizing Legito’s online courses, members of Upright began creating additional documents in Legito, such as our extension agreement and mortgages.
- Our entire Legal team, along with members of our Servicing, Asset Management, and Capital Markets teams, are trained in using Legito.
- We can now prepare legal documents for multiple closings at once by importing data from our Platform, creating a massive efficiency gain.
- Since implementing our loan document package into Legito, we’ve also internally created 5 other templates across departments containing 25 automated documents total and growing.