Going Green in Ct

Going Green in Ct

New Haven, CT · Member since 2016 · 17 posts · 3 votes

Good morning BP,

Being that Im in CT and snowed in I figured I'd start up a discussion I've been pondering about lately. 

This is directed specifically to fix n flippers but really I'd like to hear all perspectives on this, money lenders and agents too. This subject is "GOING GREENER" when rehabbing a property. More specifically I'm interested in state programs that give you forgivable loans or tax credits when you focus on making your rehab "GREENER". 

In looking for loans for my first investment I've found a couple subsidies provided by my state to promote developers to build for  longevitey in a more environmentally conscience industry.

Some offered forgiveable loans after 5 years, and tax breaks for using items like; 

Windows, Insulation, Solar Panels, Light sensors, Time restricted irregation systems etc.

I feel like there are plenty of sellers looking to retire and exit the market that will be passing the baton to adults coming into this market who are looking to make a difference. You know those Prius drivers who carpool and collect trash on the weekends as a hobby.

I'm no different, I mean if I get a fix n flip I'd like to make it better to live in but also shrink its carbon foot print, but I don't know what kind of negativitey, if any comes from focusing a fixer upper into a GREEN house.  

My question to you BP, is have any of you used any such loans or subsidies when rehabing and if so what are the pros and cons in focusing your necessary rehab in going GREENER. Or do any of you lenders know of any programs dedicated to this.  

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  • Rental Property Investor · Madison, WI · Member since 2013 · 629 posts · 339 votes
    10y

    I applaud you for doing this!

    We are, too, in Madison, WI. We're doing it for our buy and hold rentals, then we attract green-minded tenants.

    We took advantage of Federal and local incentives. There was a local program called Green Madison for rebates on insulation. We got rebates on our solar from local Focus on Energy, and a federal rebate through a loan program (that expired in 2012),  We use all kinds of reclaimed materials in our rehabs.  I don't know about special programs for that, but many cities have a Habitat for Humanity ReStore. We get a lot of flooring there for a great price. Also Craigslist.

    There are a fair number of green-minded investors here on BP. I've been seeking them out and connecting!

  • New Haven, CT · Member since 2016 · 17 posts · 3 votes
    10y

    Actually the reason I choose to walk this path is because I voluteer at a restore and the owner we call the GREEN NATZI. She annoyingly agressive about her green crusade.

    That being said, It is the right thiing to do and I'd like to find tenants who are looking to do the right thing. Maybe it'll help vet them and attract responsible tenants who will take care of their personal environment better. 

    Plus building a portfolio with longevity in mind is "A Major Key To Succuess" 

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