All Forum Posts by: JW Franz

Hello, I own and manage 70 SFH in the St Petersburg FL area. I have had similar thoughts as to senior shared housing in Single Family Homes. Renting the rooms and possibly tying in services for a part time aid (visiting angels) and meal delivery services (local grocery or Uber Eats). I would think if it is not an assisted living space and like a college room situation, assisted living licenses would not be required. My question is, I assume the number quoted at $500 a day is for insurance covered housing? What is reasonable to charge? Is it worth the effort vs renting the house for $1700 a month to a single renter? I would love to also hear from someone who is already doing this business model and would love to share ideas on how to make this happen.

Trey, I would be interested in selling 5 of my SFR turnkey properties in a bundle. They are located in South St Petersburg and In the $80K-100K range. Rents are from $900 to $1200 monthly. Taxes and Insurance run approx $125 a month. Over a 10% return. I am a hold investor, contractor, own 64 units, and do my own property management. Looking to sell a few to pay down a long term note. I could offer property management services at a fixed fee. Send me a PM if you are interested. Joe

Jason and others, 

I have posted a few threads to this post this morning as I have experience in the area of veteran housing and homeless housing initiatives in Tampa and St Petersburg. Both were removed for self-promotion, which they were not. I was providing details of the programs I am involved in. If your heart is in this area, as mine is, please call or PM me. Thank you.

Joe

My PM in Tampa has a 30 day out with no cancellation fee. They have a flat fee monthly fee and provide a la carte services for eviction and inspections. http://www.rentfirstrealty.com/ ask for John.

Try the app ScannerPro. It is great for scanning receipts and leases.

Joe

This is a big help. I will look more into the DSTs and how they work. Any other advice on DSTs would be appreciated, minimums? Rates? Thanks a lot.

Actually 12 of them are in a 1 mile square.

John T and Dave, If I am selling 46 homes in a 10 miles square, do you think I can create an uptick in the market? Should I list w an agent ($, MLS) or buy owner. These are middle to lower income housing units, would you recommend contacting the renters for interest? My guy says no, just list them, but they will see the sign?

I am looking to do seller financing and become the Bank for my 46 SFR in the Tampa Area. As prices are rising. I recently discovered, actually yesterday, that under DF, the Seller Finance Rule, would allow me only to Seller finance no more than 3 properties per 12 months to primary users. Does anyone know if this is appealed! It would be a good day and give me something to think about.

Just read Jay's post. Or maybe a new Blackstone Hedge Fund cycle comes along. Good thought.