Boston Capital Review

Beware!! Total rip off investment company! Prior reviews here are rating the State Capitol Bldg. , that is not this company. They sell long term tax credit investments that you will not be able to mostly utilize. At the sales presentation, they claim in about 15 years you will receive 98-103% of your investment; which is a total lie. They keep your money for 16 years, give you tax credits that mostly can't be use, and then only give you about 20-50% of your investment back, when during the sales presentation they state you will get about 100% of your investment returned upon sale of the properties.
Your money went to purchase properties, and you know damm well those properties have appreciated over the 15-16 years, but they only give you 20-50% back? Complete Rip Off!!!

Kyle and his team managed a few of my properties for me in the Boston area. I have to say that they provide exceptional service and value. When they sold my properties, I did well...

This comment is prompted because there is no longer a tax advantage for my still owning two REITS that were sold by Boston Capital (1991 and 1995). I used to have three of them-- Fund III, series 16,40,48. All were invested in low income or senior housing developments and the fond idea was that, after a period of about 13 years, these developments would be sold. Apparently, they are non-salable or are upside down.

The three REITS (series 15,40,48) I have/had DID generate some tax credits, the sum of which equaled the amount I initially invested. I had been contacted by a private buyer and I sold series 48 (paid a seller's fee and washed my hands of that one).

I think if I had, in the beginning, simply invested those monies in an Index Fund, paid taxes on the gains and dividends, I'd have done better. But that's hind sight.

That being said, the problem now is that the other two REITS (16 and 40) NO LONGER generate tax credits; AND they still generate interest income, which is taxable. I can't sell the 16 or the 40 (no one want them), and I can't move them into a general, e.g. Fidelity Investments managed portfolio (this seems to be disallowed by Boston Capital who is the holder of the Trust) , and even if I could, I'd still be getting a K-1 at the end of the year. And I'd still on the hook for all the undesirable things: the taxable interest, the requirement to submit a 6251, the delay in filing the taxes due to K-1 generation , etc.

So, was my purchase worth it? Probably NOT! Thankfully I only invested $12,500 among the three REITS and that well over 20 years ago and was not a big percentage of my monies. But I still enjoy the burden of the nagging K-1's, and owning something that, at this time and in the likely future, essentially offers me nothing in return.

Why then give a TWO STAR RATE and not a one? The people whom I've contacted at Boston Capital ARE professional acting, are fairly easy to reach, answer questions (even if I don't like the answers)--that merits something! But, would I do again? Nope!