All Forum Posts by: Tim Milazzo

@Thomas Hickey - I also have a couple of options with higher LTV which you're looking for, but could be more expensive. If it's shorter-term, more value-add play that might be OK for your deal? PM me as well for more info.

Hi BiggerPockets community!

I'm pretty new to the site and the forums here. I grew in Northern NJ and work in New York. My father was a commercial leasing broker in New York for many years, and I interned for a big brokerage and in financial services before starting off my career in technology.

I'm now deeply involved in the real estate tech scene around New York, building out a loan platform called StackSource. I regularly rub shoulders with a lot of other top tech companies for real estate around New York.

I started a basic BiggerPockets blog on commercial financing here: Sourcing the Capital Stack

Let me know if you're in New York (or Northern NJ) and interested in the topics of real estate tech, or commercial financing, and I'd be happy to meet up!

- Tim

Sure there are drawbacks to only using online comps, but the opposite is far worse. Make sure you do your research. Reonomy is another good tool for research and sales comps with an easy-to-navigate UI.

I just booted up my BiggerPocket's blog, which will focus on thoughts and insights into financing commercial real estate. The first entry brings some base-level knowledge to what Fannie Mae and Freddie Mac do in multifamily financing (5+ units). Would love feedback on if these "starter guides" on different types of available financing are helpful!

If you do educate yourself, find that you have a good deal on 5+ units and are considering financing at that point, know that in addition to banks you should always take a look at GSE financing for potential long-term loans. In shorter-term, value-add scenarios, yes a private lender might be in order.

Congrats on the acquisition! Sounds like you are off to an awesome start.

You mentioned talking to a few local banks plus one national bank in Wells Fargo. Did you ever look into whether you'd get a better rate with a Fannie Mae/Freddie Mac loan? Were you aware of programs that can get you a low-rate, government-insured loan? How far out is your new loan's maturity?