Two big announcements for the people today:
If this is your first time hearing about the StackSource browser extension, catch up with the original announcement here:
Certain agency multifamily loan quotes will receive instant sizing and interest rate indications. Specifically Freddie Mac Optigo’s small-balance loan program ($1 — $6 Million loan size) and HUD 223(f) ($3 Million+, great rates for affordable multifamily properties).
Want to share an interesting deal with other investors? You can now share your analysis results by copying and sending a link, even if the recipient doesn’t have the extension installed.
If you’re looking at a property with the idea of adding value and increasing the NOI, you can differentiate between today’s NOI (which a bank or agency loan will use to size the loan), and your pro forma NOI. That way, the loan calculations will key off the current income, but your Cash on Cash Return metric will key off the pro forma.
This version is still not a strong analysis tool for redevelopment or heavy value-add plays, due to the assumption that financing is available based on the constraints of the asset’s Current NOI. In reality, many transitional lenders can and will underwrite a deal to a strong sponsor based on pro forma projections. Look for future releases of the extension to incorporate an LTC-based financing option.
To get started with the StackSource Browser Extension, you can go straight to the Chrome Web Store:
We’re all ears for feedback. Whether you find a bug or want to suggest a feature, feel free to chat with us through the extension’s “Chat with Expert” feature, or just send us a note at Hello@StackSource.com.