Rent to retirement

[Praveen Kumar]

Hi everyone,

Me and my wife very new to real estate investment and yet to buy a property. We are seriously considering  rent to retirement properties given the relative passive nature. I have read many positive and some negative reviews. I would like to get your recent experiences with rent to retirement - positives and negatives. 

Also we are scheduling some consultation with lenders. what are the questions to ask the lender and also how to choose a good lender for investment properties moving forward ?

thanks for your time and help

[James Wise]

Quote from @Stuart Udis:

@James Wise "Do normal due diligence like appraisal and inspection and you're risk exposure is fairly low. It's real estate in markets with population growth, it's pretty hard to lose money if you get an inspection and appraisal."....Wishful thinking at best when buying C/D properties. Inspection reports and appraisals are helpful but aren't a cure-all. Mechanicals, roofs etc. can be towards the end of their useful life and pass inspection but then the cap ex can't be absorbed in many of these C/D neighborhoods. Tenant issues are more likely to arise and then you have the owner....many aren't qualified expertise wise or financially to weather the storm. Even competent 3rd party management can only mitigate, not necessarily address many of the issues that arise when owning lower tier properties & population growth alone is not a magic pill.

 Stuart we aren't talking about 100 year old homes in C/D neighborhoods. Rent To Retirement sells new construction houses in growth markets, so your comments don't really apply here. If we're talking about some Section 8 houses in Cleveland or Detroit, sure, I am with ya, I live it every day, but what we're talking about right now is a different world.