Looking to consult on multifamily rehab - construction

Lewiston, Maine
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Looking to consult on multifamily rehab - construction

Nico Corrao
Investor · Winchester, MA · Member since 2015 · 5 posts · 2 votes

We are looking for a local SME to work with who has experience with commercial multifamily rehab.

This is a fully-owned, occupied 5+ unit in central Maine. We have allocated for CapEx to reconstruct the building envelope (including windows) and are looking for assistance navigating:

- incentive programs/tax strategies for cladding, windows, insulation, heating/cooling (heat pumps), masonry, weatherproofing.
- finding local contractors for the same

We are at the stage where we have cash and credit available for the project, and architectural renderings. 

Welcome recommendations/questions and please DM if you may be a good fit. 

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  • Ty CouttsBusiness Member
    Lender · Denver, CO · Member since 2022 · 467 posts · 230 votes
    2y

    Hey Nico,

    It sounds like you have a solid foundation for your project in central Maine.

    Navigating Incentive Programs/Tax Strategies:
    State and Local Programs:

    Efficiency Maine: Check out Efficiency Maine for incentives on energy-efficient upgrades like windows, insulation, and heat pumps.
    MaineHousing: Look into programs offered by MaineHousing that might provide financial incentives or assistance for multifamily rehabs.
    Federal Programs:

    Federal Tax Credits: Explore federal tax credits such as the Low-Income Housing Tax Credit (LIHTC) if applicable.
    Energy Efficiency Incentives: Investigate federal incentives for energy-efficient improvements through the U.S. Department of Energy.
    Consult a Tax Professional: Work with a tax professional who specializes in real estate to ensure you are maximizing all available tax benefits and incentives.

    Finding Local Contractors:
    Local Contractor Networks:

    Angi (formerly Angie's List): Use Angi to find reputable contractors in your area. Look for those with experience in multifamily properties and read reviews from other property owners.
    HomeAdvisor: Similar to Angi, HomeAdvisor can connect you with local contractors who specialize in the specific types of work you need.
    Referrals: Ask for referrals from other local property owners or real estate professionals who have undertaken similar projects.

    RFQ/RFP Process: Issue a Request for Qualifications (RFQ) or Request for Proposals (RFP) to gather detailed bids from contractors. This process helps ensure you find qualified professionals who can meet your project requirements.

    I am a loan officer in CO so if you need referrals I could help. Please feel free to DM me if so. 

    [email protected]719-641-5169
    Ty Coutts - Aslan Home Lending 544 Reviews
    WebsiteView Page
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  • Dan WeberBusiness Member
    Realtor · Portland, ME · Member since 2015 · 655 posts · 552 votes
    2y

    @Nico Corrao reach out to @Bethany Turon, she's a very well connected PM in that are that can connect you with some contractors for a lot of that work.

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