All Forum Posts by: Justin Owens

@Larry Hawkins It is a residential assisted living facility. Licensed for 10 beds. It is not a skilled medical center. Caregivers at facilities such as ours are licensed by the state but they are not nurses or doctors.

@Mike Vaupel We hope to open a home licensed for 10 beds by the end of August but it will depend on how quick the state can come out for the inspection. The biggest hurdle had been getting a grasp on the rules and regulations and finding care givers to hire. Preparing to manage employees has also been a bit of a learning curve.

@Navid T. I am no expert and I imagine it would vary widely by location.

@Navid T. I would check with an accountant or CPA but I would say yes. I have had that discussion with my CPA and bookkeeper and I plan on doing exactly that for the care home I am getting started.

@Mike Vaupel That's the jist. We are almost ready to be licensed as the rehab of the home is nearly complete. I think a lot would depend on your local city/county/and state regulations.

@John Park Make sure she adds him/her to the lease. And see if you can up the rent for additional wear and tear. ;-)

@Brandon Hunsaker So house hack as in you will live in it as your primary residence? I wouldn't bother. You will live in it and have a good idea as to what is good and bad with it. So long as you disclose all pertinent facts when you sell you will be fairly free from liability.

@Samuel Greene @Ty Wightman I just added a bathroom with underground slab to a post tension house. It took some searching and calls to the structural engineer of record and a little luck to find a plumber/concrete cutter who wasn't afraid to work in there. Still a lot of myth and rumor about what might happen if one drills or cuts into a post tension slab. It was no big deal.

@Chris I. They didn't ask but I moved my accounts anyway. I like their service and having everything in one place. My HELOC is on my primary so I am not sure if they do them on investment properties.

@Jake Kain We had one at Nuvision Credit Union then switched to Arizona Bank and Trust. So a second for them. Love their service! We use the branches by Chandler Fashion and Gilbert and the 202.