All Forum Posts by: Loretta C.

Oh wait sorry - "closed down ALF"...got it. But still would be interesting to know the back story Thanks Loretta

Do you know the story on the foreclosure? Is it still occupied w elderly residents or is it empty? Do you know when it last had residents? Is it still licensed or did it lose its licensure? Would be interesting to know the numbers. Thanks Loretta

Hi Matthew, welcome to BP. I'm in Maple Glen PA; I'm looking to start investing soon. You are an inspiration! Take care Loretta

Hi there, 

The ALF had found my rental when it was listed, at market rate. When my PM called the guys' references, he found that the ALF manager had left the previous property that they were renting because the owner had tried to increase the rates above market rates. So the ALF packed up and left! Shocking. 

Now, if you actually own the ALF yourself, that is a totally different situation, which is discussed elsewhere. Guarino, for example, has many references and offers a course on how to set up an ALF. So it is up to you... how much do you want to get involved?

My leases are yearly. There is no difference to me besides what I outlined above about having a slightly different insurance provider. The other difference would be that I never get any calls at all except major/expected issues (I might have had to replace the AC unit at some point, for example.)

Best wishes to you!

Loretta

Hi there,

I currently rent one of my properties to an ALF and I concur...they are wonderful tenants. They have been there for 8 years already. It has definitely been a win-win. I had to switch to a commercial insurance policy but the premium was comparable (my renters also have their own commercial policy). 

Best wishes,

Loretta

Hi Charlie, Thank you for bringing attention to the Eden Alternative format. In my years of providing care in nursing homes, geriatric clinics, ALFs and hospice, I had not seen that before. I will review the Eden Alternative format and compare it to the models with which I am more familiar. Thanks for posting! 

Hi, this area is very intriguing to me as well. I have been on the other side of the coin for a long time, as I have been renting my property to an ALF for 8 years now. I probably should have followed my husband's advice and hopped on board a long time ago! 

I think there is a need for the big huge institutions and also the smaller ALFs (that are in single family homes). They provide services for different needs and interests. 

Hi there, Congratulations on your successes! Best wishes to you

Loretta

That's awesome! Congrats!

Yes 3000 includes mortgage, tax and insurance.