Moving forward, MAXX Properties
will look to Sterling for help with
introductions for venture partnership
developments. John Colardi, CFO, says
that as the firm continues to grow, Ster-
ling has been flexible and quick to react.
In fact, MAXX Properties’ relation-
ship manager at Sterling was integral in
the development of a new property by
initiating an introduction for an oppor-
tunity. Fast-forward a year, and MAXX
Properties, in conjunction with that new
business, is building a 21-unit property.
“I can tell you, none of that would have
happened if it hadn’t been for [our rela-
tionship manager] and his team thinking
we should meet and have further discus-
sions. He knew from both sides there
was mutual interest in joining forces. It
was a really nice union and you don’t see
that with other banks like we have with
Sterling,” Wiener says.
With Sterling on their side, the
management team at MAXX Properties
plans to steer toward protecting core
values while continuing to improve on
business processes. Improving within
the company first, Wiener says, ensures
that the company continues to deliver an
experience that propels them to profit.
Have an eye on expanding your business?
Need help in automating key processes?
Let Sterling help resource your plans.
Call your relationship manager at
855.274.2800 today.
TO RENT OR TO BUY
In high-cost property areas like New York, renting is often preferred
over buying. Though home ownership still remains part of the American
dream, there are many reasons why, in some instances, renting can make
more sense.
Reasons to Rent Reasons to Buy
Î Î
TAXES. The cost of property taxes Î Î
EQUITY. Some people feel that
once a home is bought is an extra
cost incurred in the bottom line—
and they happen annually.
Î Î
MAINTENANCE. When you own your
home, all repairs for broken appli-
ances or poor plumbing fall to you,
the owner. As a renter, all repair costs
tend to fall to the responsibility of the
owner/property manager.
Î Î
FLEXIBILITY. Renting provides
tenants the flexibility to move
without incurring large financial
penalties or having to worry about
selling or renting the property
after they’re gone. It also offers
the opportunity to downsize or
upgrade, depending on life changes
and need.
paying large sums of money in
rent every month is a waste of
resources when they could be
putting the same amount toward
owning a piece of property.
Î Î
VALUE. Purchasing a home when
property values are down, but in
an area of expected growth and
popularity, offers you the opportu-
nity to capitalize on market gains
and value increases, should you
someday decide to sell.
Î Î
LONG-TERM SAVINGS. When you
consider that rent tends to go up
every year in most properties,
buying a home at a fixed mort-
gage rate saves you money in the
long run.
RANKED BY FORBES’ 2017 “AMERICA’S 100 BEST BANKS” // CONNECT STRATEGY SPRING 2017 // SNB.COM | 13