All Forum Posts by: Account Closed

@William Kyle Walker , I am in the same boat trying to find out supply and demand for residential assisted living facilities (RALF) in a particular area. I was relying on city-data to gather age demographics and looked at Genworth to find the different markets that has positive trends of ALF care costs. My plan is to figure out if the market is over supplied or under supplied with RALF's and then pick the market that has decent/under supply for RALF's to start our RALF.  

Can you pls provide your suggestions in this regard. 

@Jorge R. Congrats !!. I would suggest to get in touch with the landlord of a similar facility in your city and find if he had any challenges/issues with the institute who leased the property or if any from neighbors and how he handled them. That would help you to address such issues at your end.  

rgds

Kishore 

Olivia,  Did you get a chance to prepare a flyer indicating VPD, population , income statistics and nearby tenants.  If not, I would suggest to start with that first. Later you can either sync up with commercial agents and/or contact the head office of the national tenants and present your property.

Joel Owens is knowledgeable in this regard and can share more info 

Hi,

May I pls know if there's a way to find out the supply/demand trends for residential assisted living facility (RALF) in a particular city or cities in US. I looked at Genworth and figured out the cities where there's a positive trend in the ALF care costs but couldn't figure out what's the supply and demand for ALF in a particular state/city. I tried doing a google but didn't find anything much helpful. 

rgds

Kishore

@Darius Falahkhir Congrats !! . 

I would suggest using 45% of gross income as operating exp in this scenario. I also suggest to take the new property tax (which might incr based on the purchase price) into account while calculating operating exp. If it's 100% occupied then considering 5% vacancy is standard (I usually prefer using 10% as vacancy). If not please use the actual economic vacancy while calculating NOI. Did you get a chance to check what are the prop mgr charges in that area ?. if you haven't, consider using 10% as prop mgr fees.

In order to incr the NOI after purchase, if possible may be you can start with passing back the water expenses to tenants. It will make tenants more responsible both in using water as well as promptly reporting water leakages if any.

Disclaimer: Student of Lance Edward's small apartments course

Hi All, 

I am speaking for myself here. I took Lance Edward's small apartments $2500 course and attended 3 days boot camp too. 

After attending 3 days boot camp, they refund $500 back and if we're able to close a multi family property deal in 90 days after attending boot camp, they 'll refund the $2000 back.  You'll have access to his support team via email who can help analyzing the apartment deals. 

I have some basic knowledge of analyzing apartments so I didn't feel much excited after coming out of the boot camp. His book had very good info which can be helpful for beginners. He also provide home study CD's which are good for getting into multi family apartment investments. 

Cons: 

#1 By paying $2000 (assuming you attended boot camp and got the $500 refund), you get very basic email access to his team. They claim 2 working days to respond but my emails got response in 1 week to 10 days usually. 

#2 Lance other courses with concrete support (via phone, regular 1 to 1 discussions etc) are pretty costly starting with $10K per 6 months support, ~$33K for 1 year support and $65K + etc

#3 They don't provide any money back for the courses mentioned in above #2

rgds

Kishore

How about holding costs like utilities, prop taxes during rehab time?. House staging costs, survey and city permit costs (if any),  interest paid and orig points on the private money loans (if any), attorney fees (if any)

Hi Noah,

There are multiple ways for financing the deal but might depend on how much cash are you looking for. You can pls go for partnership with other investor(s) who can partially fund the deal or ask if seller is willing for seller financing the deal.

Rgds

Kishore 

Thank you all for the suggestions

Hi,

I am looking for an attorney in Texas who is familiar with residential and commercial real estate laws and who charges reasonable monthly (or something similar to monthly charges) like LegalZoom. I would like to take help with general suggestions, reviewing modifications to TAR rental lease agreements, short term rental agreements, sale contract documents etc on ongoing basis (either via phone or email).

May I pls know if anyone can provide recommendations.