All Forum Posts by: Kevin Lehna

welcome, good luck on your new adventure. I live in North Bend the town next to Coos Bay. You may want to look over here rather than Coos Bay, you don't need a business license for rentals in North Bend but do in Coos Bay. The taxes are cheaper and a better school. I own homes in both towns tho, just a little advice.

ya, so an adult foster home is a assisted living home owned by a "smaller company." They are based out of a residential home, I have found they prefer at least 4 bedrooms. They can house up to 5 elderly people and require 24 hr personnel so they have a live in employee, or the owner depending on the size of the operation. There can be two elderly people in one room if necessary so that's why at least 4 bedroom because the live in will require a seperate room. Also they  prefer at least 1 walkin shower it makes they're job a lot easier. I have found they are amazing tenants and have to keep up the house because they have constant family traffic of the elderly. I am already in talks with my customers about helping them expand and purchasing another large home for them to grow into.

sorry it took me so long, after my research I found that not only is it legal and not commercial but in fact is illegal to discriminate against them... I have now rented to them for over 6 months and couldn't ask for better tenants. There is also a lot of security that they will be there for along time considering how much they cost to set up on they're side.

Thank you for all the great info.

Wow! Thank you very much. I didn't think about those questions. I know they currently have one down the street up and running, but that doesn't mean that its legal. I just assumed they already did the foot work and it was legal because my house had to be inspected by an outside source. I will do more research and seek legal counsel. 

Thanks everyone. I actually heard about the site thru the podcast about 2 weeks ago and I have almost listened to all of them. I currently have a full time job that allows me to listen a lot while I work. The goal with BP is to learn as much as I can to achieve success, and help as many others along the way. The goal is to be financially secure enough to do this full time in 5 years.

Hi everyone I have a question about how to cover myself for natural disasters. I am a new buy and hold investor and live on the Oregon coast that being said tsunamis are an unforeseen event, how can I protect my assets if this was to happen? Obviously flood insurance is ridiculously expensive, is there a way to get my investments covered another way? If not would putting my rentals into a LLC be smart so I wouldn't be personally responsible for all the mortgages?

Hi everyone my name is Kevin. I am just starting my journey as a real estate investor I currently have one buy and hold that I am just starting to rent out. I am hoping to completely replace my income that I make from my current career with buy and hold passive income. with that being said my end game is to hopefully one day get into owning mobile home parks. Thanks for reading and cant wait to get tons of great advice here.

Hey everyone I'm new to the investing seen and just started my first buy and hold. I'm getting ready to rent for the first time to two couples. They're intention is to turn my 5 bedroom 3 bath single level home into an adult foster home.  My questions are, is there a special rental agreement I should do for renting to two families, or do they each fill out separate agreements? should I have any additional contracts that keep me clear from any sort of liability? Thank you and any additional advice about this would be really helpful.