Friday, December 11, 2015

East School is close to being sold



The School Board has reached an agreement to sell the vacant East School to a real estate developer who has recently purchased several properties in Springfield, including the Odd Fellows building on Main Street.

Link to full story:
www.rutlandherald.com

Related story:
www.eagletimes.com

More photos here:
truellrealestate.com/property/199-Summer-St

11 comments :

  1. Based only on tangible evidence, is this person a "real estate developer" or is he a "real estate speculator"? I ask because the "develop" thing is not happening - is it?

    ReplyDelete
    Replies
    1. I consider myself as a real estate investor. Never been called nor consider myself a speculator.

      In any event, I think the school district will benefit by turning this liability into a cash asset.

      Delete
    2. Darrell, for the record will you assure myself and the rest of the community your holdings will not become low income or subsidized housing?

      Delete
    3. Most likely be stripped of copper and other readily salable assets, then left to rot exactly like the Parks & Woolson eyesore. Not a thing the town can do about it. Damn, it sucks to have to live here.

      Delete
    4. Darrell, would you be so kind as to answer The Machinist's question posted at 8:15 AM on 12/13/15? As a Springfield resident and Taxpayer, I am concerned about the blight and plight of our town. So I too am curious what will become of these properties you have purchased. The last thing we need is more Low-Income/Section 8 housing.

      Delete
    5. I am not against subsidized housing, however, I have no plans for it in the school. The neighborhood is too upscale for subsidized housing imho. Plus, I prefer less government oversight.

      I haven't been inside since I first inspected it 8-9 months ago but I presume no vandalism. The Woolson property has its own unique problems and a housing agency is trying to acquire it from what I've heard.

      As far as Odd Fellows, I just had the sprinkler system overhauled at a cost of $13k. I'm still baffled how to get the rear wall handled at a reasonable cost. Estimates are way out of line. I'm now considering a new plan. Too soon to release details at the moment. But with winter snows just around the corner, things will have to wait until the spring.

      As a private citizen, what I do with my investments is my business. But I'm pretty sure what I do with the properties will be good for the town as I generally buy properties in horrible shape and renovate them. Normally I buy bank SFH REO's that have problems and cannot be financed so are out of reach for regular homebuyers. Each property I look at individually and I may buy, renovate and hold or renovate then resell depending on what the market conditions are and what I think is best for me.

      In the future, I will not respond to Anonymous posts.

      Delete
  2. Where is the money from the sale of this and the odd fellows building going? Could it go so our taxes don't go up. Just random questions

    ReplyDelete
    Replies
    1. Two different sellers. Odd Fellows proceeds went to the Odd Fellows State organization from what I hear which doesn't go to the state. The proceeds from the school I presume goes to the Springfield school district. So, neither will affect state taxes...

      Delete
  3. Someone is buying an otherwise abandoned property, and people have the nerve to expect the buyer to go on record about his intentions. Laughable. The place was on the market, this guy is buying it - what he does with it is absolutely no ones business. If you do a little googling, it is fairly clear he isn't in the business of harming communities and/or property. And what a stupid question...will our taxes go down as a result of it's sale. Why would it? It's peanuts. Morons around here jeezzzz. I'm glad the guy is buying stuff - at least new life is being breathed into these old properties that most don't even think about. If you have specific plans to go on record with on a property for sale, YOU buy it.

    ReplyDelete
  4. Hi - I would like to point out that original wood windows and doors can be kept safely. Lead Paint is easily handled.

    ReplyDelete
  5. Lead combines with Phos. to make an inert substance! The EPA knows this and treats lead in dirt this way. The Obamas did this in their garden at the white house.

    Please read this article
    To Nullify Lead, Add a Bunch of Fish Bones
    http://www.nytimes.com/2011/07/21/science/earth/21fishbones.html?_r=0

    This company sells stripper that binds with lead in paint and wood:
    http://www.leadoutpaintstripper.com/

    ReplyDelete


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