All Forum Posts by: Matt Mahowald

@deodat, you have to be a veteran or active duty military to assume the loan. 

Hi all!

I have a 2 family in Malden MA. Financed on a VA residential 30 fixed at 2.75. About 580k left on the loan.

Anybody who is eligible to assume a VA loan interested? Obviously it would be cash down plus loan assumption, but I'd hate to see the loan rate disappear in a standard sale.

Hi all,

TL:DR, looking for a professional who can help set up the necessary Opportunity zone fund and company to facilitate selling a Malden 2 family and reinvesting into (and rehabbing) a 4 unit (or greater) property in the North Shore. 

Services and/or professionals we may be looking for:

- Representation in selling the Malden 2 family.  

- Representation in buying a 4 or more unit property.

       - Ideally this person would straddle commercial and residential real estate. 

- Entity to guide and do the legal work necessary to form a Qualified Opportunity Zone Fund and set that fund up to buy Opportunity zone Property in Salem, Chelsea, Boston, Beverly, Etc. (basically the city and north).

- Wholesaler, commercial broker etc. with properties fitting the buy box (4 unit up to 2.3 mil, north shore, good foot traffic location). 

- Financing, weather that be commercial or residential. I'm happy to move into one of the units to make it residential. 

This will be my first time not doing the standard house hack (have done that 4 times now), so I am seasoned but breaking new ground here.

+1 on the weatherization/insulation improvements, MassSave will insulate a multi-family and cover 100 percent of the cost, complete no-brainer there, I'm happy with the results. 

@Darryl, are you living in the 4 unit or renting out all units? I ask because I am considering solar on a duplex I own and can't figure out the tax code for tax rebate if any. I'm looking at the section 48 ITC business credits. Wondering if you're in the same boat there. It appears if we use American made solar products, the tax credit is a whopping 40 percent, but I can't get confirmation. Best reference I have found so far.

Tax Reduction Letter - New Law Improves Energy Tax Benefits for Biz Owners and Landlords (bradfordtaxinstitute.com)

I used Great Sky Solar and thought they we're good enough I would use them again. Tesla was cheaper but was sourcing (IMO) inferior tech. 

Hi Joshua,

I worked with Bob Hagerty at Leader Bank a while ago for a closing on a 2 family in Malden. He was great and know how to get the project approved through the VA

@Yuzi His bread and butter is foundation, drainage, lolly column's etc. Mainly structural, however, I am quite happy with a bathroom he did. I think there is a great carpenter in the family as well and he did a fair amount of that work. Happy to connect you two if you'd like. 

@Joe, thanks I think you could be right. I tried that a few years ago but without any app support and may have been too targeted. I was just looking a masslandrecords.com for people who had owned forever. 

Hi all,

I have a contractor friend I really like who, ironically,is getting his rent raised significantly so he is looking to buy a 2 family in Malden, Medford, Revere, or Everett. The unique thing here is that he is looking to rehab a place for him and his brothers family to live in. To be clear I am not wholesaling or looking for commission, this is just me taking care of a partner who has helped me out in the past.

Just wondering if there are some marketplaces I can point him to with those rehab sort of criteria beyond facebook, MLS, craigslist etc