All Forum Posts by: Ted Strzelecki

Anyone have any recos for someone for financing in Massachusetts? I should state that I am a buy and hold investor. Currently have a few already. The problem I am finding is that the majority is looking to fund me for 6 months for flips. Any help is appreciated BPers. Tia.

Rob,

   Great question. Solar panels can be a great investment for the investor providing several factors are in place. You have any kind of incentives where you are investing. If you can find a reasonably priced installer with a great product and warranty. Also, if the house has electric heat and if you install solar you can do an all inclusive price which allows you to receive higher rents although your costs are not any higher. Going forward though, it may be beneficial in the way of attracting younger professionals that are millennials as they are beginning to search for greener residences to call their home with apartments 

Agreed!

Hey Tom,

  In that instance the one who signed the lease is then responsible to pay in full, the agreed upon price when the contract was signed. (Usually buried upon the 20 something pages of the contract) Otherwise the sale of the house can actually be blocked if the UCC is not satisfied. This occurs when the sale price doesn't have enough equity after home sale and note repayment. Otherwise it is subtracted from the sale. Just like a lien. 

So many people have questions on how the process is covered on both the purchase side and the sale side of solar leasing. Luckily for this topic less and less people are doing this process. Ownership is the way to go going forward and will continue to be the case. Having experience with over 1000s of installs across the country the following includes a link and some commentary for those of you RE investors. An avid RE investor myself I thought I would write this to aid you fine folks on the specifics. Enjoy.

When you lease solar panels they put a UCC lien on the equipment, true, to hedge against you defaulting. HOWEVER in the case of a sale it becomes enforced as a lien to ensure the finance company holding the paper on your equipment doesn't get discarded with the new owners. This is the common issue in all 50 states and solar leasing companies do NOT want to transparently address it. Here's a link for you on how residential solar actually works in the event of a sale. https://financere.nrel.gov/finance/content/residen...

In this, notice the line - Financiers can take security interests as per the UCC, which is a set of legal rules for creating and enforcing rights in property subject to sales, leases, loans, and other types of transactions

In other words it's harmless as long as you either live there, don't refi, sell, and payments if any needed are being made. Once any of the detailed signal a flag it's no longer a happy harmless "Just a UCC filing" and as it states can enforce "security interests" as per the UCC rules.

This is why solar leasing is terrible. So much misinformation. When you lease solar panels they put a UCC lien on the equipment true to hedge against you defaulting. HOWEVER in the case of a sale it becomes enforced as a lien to ensure the finance company holding the paper on your equipment doesn't get discarded with the new owners. This is the common issue in all 50 states and solar leasing companies do NOT want to transparently address it. Here's a link for you on how resi solar actually works in the event of a sale.  https://financere.nrel.gov/finance/content/residen...

In this notice the line - Financiers can take security interests as per the UCC, which is a set of legal rules for creating and enforcing rights in property subject to sales, leases, loans, and other types of transactions 

In other words it's harmless as long as you live there and payments if any needed are being made. Once any of the detailed signal a flag it's no longer a happy harmless "Just a UCC filing" 

If solar panels are installed correctly, yes it will lengthen the life of the roof. The key reason a roof degrades is due to the sun dry rotting it. If the sun cannot get to the roof via being blocked by modules then you will not only benefit from the electricity savings, you will greatly lengthen the lifetime of the roof as well. Win win all around

Sounds good. reach out!

You can reach out to me if you would like. I am a REI and have property in Worcester County. Message me and I will send my contact info

So the ROI is about as bad as it gets when it comes to the solar shingles. Current monocrystalline modules if installer right are aesthetically pleasing and are significantly cheaper as well as much much more efficient. If you want to sell a "green" home offer LG320 all black mono modules installed with a Solaredge optimized system. This can also be monitored from a smart phone or a laptop in real time panel by panel