All Forum Posts by: Bob Obear

Schedule 80nis only needed under a driveway or travel point.  

Historic Tax credits are a fantastic vehicle that allows the investor to take on projects otherwise unfeasible.  I have completed about 10 deals utilizing state and Fededal tax credits.  I have added about 2.5 million to my net worth doing so.   Yes upkeep may be slightly higher, paint versus vinyl siding, but the value is untouchable.  Happy to discuss further let me know.

Best,

Bob

I  have Vermont Mutual and have about 15 properties with them.  My agent is Webber and Grinnel from Northampton Ma.  My agent is Peter Normand

I have completed 8 Preservation Tax Credit deals to date and have applications pending on a 9th and 10th deal.   In Massachusetts there is a 20% credit for all QRE ( Qualified Rehab Expenses)  and 20% available through a second application on the federal level with the National Park Service.   Properties need to be in a historic district or have stand alone significant importance to be added to the National Register of Historic Places.   The program has specific guidelines and rehab standards that must be followed and a consultant is typically required to prepare the applications and oversee the work.   The credit can be brokered out for sale to investors to help offset the rehab costs of the projects.

@James Pollock we use Buildium to manage approx 47 units. Works great!

I am currently holding appointments on 3 properties in receivership here in MA.  The first was an abandoned property in Holyoke Ma.  I was appointed by the court, took possession, rehabbed it, and am about to foreclose on the property.  All in this is a fantastic way to own properties for the cost of the work you put into them.   

I also hold receiverships on two multi unit buildings, an 8 unit building and another 6 unit building.  These are much larger in depth renovation projects with substantial capital improvements.  I own the construction company doing the work and I bill for my time dealing with anything related to the property.  We charge market rates for the work performed and I end with a quality property completed updated to meet code.

I hold a 1st position lien and will foreclose on these properties for the rehab work performed.

I am also from Montague.......  just signed a developement agreement with the town for 4 buildings and 2 vacant lots for $1, yes that is correct 1 dollar.  So it doesn't alway take upfront money to lev er age a great opportunity.

There was also a tax auction yesterday that sold a house in Turners for 40K and two building lots on wendell rd for 6k and 7k.

Give me a call to talk business.

Bob

Hi Eric, the first step is usually the hardest. Once you start walking though it is easy to find yourself running.  Good luck, and let me know if I can be of assistance.  I have deals, turn key rentals and insight into the markets of western Ma.

Bob

Anyone looking for cash flow multi's in Western Ma? I have several that we rehabbed last year that I am looking to cash out and do the next round.  I have a large development project in Millers Falls, MA I am getting ready to start and am trying to free up some cash.   I have been awarded by the town, for redevelopement, 4 downtown buildings with multiple curb cuts and 2 large commercial building lots with rail access.

I also work as a State approved Receiver and have 2 large multifamily building under control.  A completely gutted 8 unit and a 6 unit on the same block.  I am tasked with bringing them back to the state sanitary code, and taking them to auction.  We currently have a commitment on the construction funds but I will be seeking long term financing for both of these projects once complete by the summer of 2015.

I also have another single family in Holyoke MA, ready to go to the auction block next month.  We have brought it back to code, and are looking to enforce our Lien.  

Bob Obear

I have deals available and rehabbed rental properties available in Western Ma.  I also run a full service construction and property management business and can service your needs.  

Feel free to message me or drop me a line.

Bob