Today we’d like to introduce you to Marc Savatsky.
Marc, let’s start with your story. We’d love to hear how you got started and how the journey has been so far.
I bought my first property in 2010 when I was 25 years old. It was an attached 3-bedroom home in South Boston that shared a party wall with another identical house. I renovated the place back to the studs and scrounged every penny I could by doing things like buying supplies at the Builders Surplus Store (essentially a thrift store for building supplies) and by raiding the post office for home depot coupons that used to come in the moving packets they gave everyone.
Early on, I introduced myself to the owner of the identical unit on the other side of the shared wall and told him if he was ever interested in selling, to call me. As fate would have it, about a year later, he did. I was able to refinance my existing mortgage with a new loan for a larger amount (based on all the improvements I had done) and take the additional cash to put into second home. I used this trick a few more times and soon I had a small stable of strong rental properties.
Once I felt like I had a base below my feet and had gained sufficient experience building, I started developing condominiums. I recently finished a 3-unit new build in East Boston and am 50% complete on “Ninety Cottage” which is a contemporary 7-unit new build on what was previously a gravel parking lot.
Has it been a smooth road? If not, what were some of the struggles along the way?
My wife would say moving. We’ve moved five times in the last eight years. It’s an occupational hazard. Aside from the advantages with regard to mortgage financing and certain tax benefits, you have to try your own cooking, right?
On a more serious note, one truism that my father is quick to remind me of when I lament a costly mistake is that, “you have to pay for your education.” Early in my career, I bought what I believed to be a “two-family” on Cottage Street in East Boston but, when I went to apply for my permits, I found out the property was classified as a “one family and a store” (which really complicated things).
Anyhow, I learned under duress how to navigate some fairly technical permitting issues in the City. To this day I’m grateful to the patient and kind individuals at the building department and in City Hall who helped me figure my way out.
We’d love to hear more about your business.
I’m a builder/developer but, first and foremost, I’m a builder and that’s a responsibility I take very seriously. From soundproofing to heating/cooling concerns to water leaks, there are any number of decisions throughout a project that you must get right the first time.
One of the most important jobs of a builder is to know how much you don’t know, relative to what you need to know. I’m constantly reading, attending conferences, learning from friends and then working to incorporate the best modern building practices into my projects.
I’m also obsessive over a home’s design. It’s important to me that the homes I build have a continuous and cohesive design theme running through them. I think a lot of developers are afraid to take creative risks and as a result, default to generic designs that may have sold well in the past.
Personally, I love bold contemporary homes with oversized windows that are softened using nordic neutrals and warm woods. I think my homes reflect my personal style and I’m very proud of that.
Where do you see your industry going over the next 5-10 years? Any big shifts, changes, trends, etc?
I see a strong trend towards smaller, well-designed spaces which offer enhanced livability. I believe there’s a strong correlation between commuting time and happiness and so, for that reason, I think the trend towards cities is only going to grow.
I think the American Dream has shifted away from “a car in every garage” and I hope we continue to allow our cities to follow smart growth strategies like Boston has been doing.
Pricing:
- Cost/SF for Masonry/Brick: $27/SF
- Cost to Construct a Roofdeck: $40,000
- Renovate a Kitchen: $20,000 – $35,000
- Avg. Cost/Hour For Carpenter: $45/Hour
Contact Info:
- Website: http://chooseboston.com/
- Email: marcsavatsky@gmail.com
- Instagram: https://www.instagram.com/choose_boston/
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