Operating a rental geared towards the elderly?

[Andrew Wong]

Real estate guys recently had a podcast that was pretty interesting about targeting the retiring baby boomer demographics: http://www.podtrac.com/pts/redirect.mp3?http://tra...

The long story short, they have homes, and renovate it with things that cater towards elderly people by putting in ramps, outfitting showers with handles and holds, wheelchair lift, etc.

They have like 3-4 bedrooms, and rent them out by room, one to two people per room. And sounds like they also hire a caretaker to make sure things are fine, do laundry, some cooking, etc.

Anybody do anything similar to this? Would love to pick your brain!

[Glenn McCrorey]

@Andrew Wong @Jennifer Beadles  I do exactly what Jennifer does.  I rent to companies that provide services to individuals with physical or developmental disabilities.  I get paid by the company electronically and they manage the people in the house.  It's pretty hands off but I do have to take care of maintenance issues.  Some of the companies actually have a maintenance person on salary which is ideal.  I have 45 of these and spent yesterday afternoon throwing darts in my garage while I listened to podcasts and smoked a cigar, so it's not too labor intensive.... check out BP podcast 110 where I talked about it on the second half of the podcast.