Boston owner occupied properties are on the rise. Part of the reason is that Boston owner occupied properties do very well as rentals. Another reason is how easy it is to finance Boston owners occupied properties, as well as the tax benefits they offer.
Boston Owner Occupied Properties As Rentals
Boston owner occupied properties usually fall into two categories. The first is a multifamily rental property, where the owner lives on the premises. This allows property owners to keep a close watch on tenants, make sure everything is in working order, and ensure rent is paid on time. The other type of owner occupied property in Boston, MA is in the private sector. We regularly see storefronts and restaurants with apartments above or below. Many of these properties are also owner occupied, with the attached business space rented out to someone else. The great advantage to owner occupied properties is that the rent helps to pay off the mortgage while still providing a tidy profit.
The Tax Benefits Of Boston Owner Occupied Properties
The big reason local commercial real estate investors are drawn to Boston owner occupied properties is that they offer tax benefits. When improvements are made to a property, they not only increase the value, but many of them can be deducted when filing taxes. When repairs have to be made to a unit, right down to changing locks and replacing light bulbs, those items are also deductible. Property owners just need to save all receipts to back up the deductibles claimed on the tax forms. While owners cannot charge for the labor they put into repair projects themselves, the parts can be itemized, which can add up to sizable savings every year.
Financing For Boston Owner Occupied Properties
There are multiple financing solutions available for Boston owner occupied properties. Depending on the size, commercial real estate investors might want to seek out a preferred lender for SBA loans. For larger properties, such as apartment complexes, a combination of mezzanine financing and bridge loans might fit the bill. That is just the tip of the ice berg. Commercial financing solutions for owner occupied properties in Boston, MA can be arranged quickly, and tailored much more than traditional lending institutions.
At Clipper Commercial Capital, we specialize in helping Boston, MA CRE investors get the owner occupied properties they want, so they can start generating revenue, while reaping the additional benefits of their investments.