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Tim is the co-founder & CEO of StackSource. He identified the market opportunity for a tech-enabled commercial real estate financing platform, recruited Nathan as a co-founder, and built the company. Prior to StackSource, Tim worked for tech giants Facebook and Google where he helped expand B2B marketplaces in ad tech.
Helpful Links:
https://wefunder.com/StackSource
Episode Highlights:
- Once you set up your profile on Stacksource, multiple banks can give you instant quotes. This saves you days and weeks of shopping around quotes on your own.
- Stacksource partners you with a capital advisor to help you negotiate loan terms to ensure you’re getting the best deal.
- Approximately half of the loan volume on StackSource.com is for multifamily properties. However there is also self-storage, office, industrial, and other property types.
- Most lenders on StackSource are banks or credit unions, which usually take 45 days or longer to close. However, there are also private lenders on StackSource that can close in as little as 2 weeks depending on your deal and experience level.
- Typically on vacant land deals, lenders require you to invest a higher amount of equity (~50% or lower LTV) to mitigate the risk of the lender being stuck with a property that doesn’t generate cash flow.
- When first starting out on your first commercial deal that requires financing, it is highly recommended that you partner with a more experienced real estate investor to increase the likelihood of your lender approving your loan, as well as to negotiate the best terms on both the financing and purchase of the property.
- With StackSource you’ll be able to close on your deals more quickly, allowing you to maximize the number of deals you do.
- Go to https://wefunder.com/StackSource to invest equity directly into StackSource.