All Forum Posts by: Olivia C.

Mark - learn King County eviction laws and procedures then follow them.

http://www.washingtonlawhelp.org/issues/housing/eviction

Renting property is a business.  Don't make it personal.  Be a careful, thoughtful, kind businessman.

I think the biggest challenge to this great idea is getting permits and work done to have the sewer infrastructure installed to support multiple tiny houses.  You would have to build the sewer system to develop the property.  Figure 3 people per house (the permit people will estimate high - perhaps 4) and what the costs would be. And if the area uses septic, that's an even bigger up-front cost.

Sorry to be the bearer of bad news, but meetings are the best way to go.  

Attend real estate networking groups in your area.  Also try to attend real estate investor group gatherings.

And attend any meetings attended by real estate agents, attorneys, and accountants specializing in real estate.

I worked in a law firms specializing in Elder Law for 20 years.  

Rick H is exactly right.

Thanks, Stephen, for the good advice and warning that people in their 80s may not live in our units as long as we (and they!) hope.  I read that the average age of someone moving into assisted living is 83.  This was info gathered from expensive facilities like Merrill Gardens, etc, so sale of a house would be involved.

But older renters love the "over 55" apartments and move in as soon as they can.  These apartments are much quieter.  And the smart landlords have grab bars in the loo and other helpful things so you can increase the length of tenancy.  

Laundry machines on each floor and elevators are mandatory to attract this crowd.  They usually don't mind fewer rooms and smaller kitchens so you can get more units in a building than from a family-friendly apartment complex.

You can subscribe for free to an industry newsletter.

Just google Senior Housing News and you'll find it.

It arrives daily in my email inbox.

I couldn't find anything specific about over 55 properties but here is the Calif landlord handbook.  Perhaps it contains contact info so you can phone an agency to ask.

http://www.dca.ca.gov/publications/landlordbook/ca...

I know links are discouraged but because this website is a government one, hopefully the mods will let it stay.

Anyone buy a hotel and remodel it for senior living?

Land and construction costs are so expensive here, I am thinking of this approach.

Love reading your assisted living facilities stories!

In my town, you would have to be connected to the water, septic/sewer, and electric lines.  Even for campsites.  Septic won't work on some lots so you had best check with permits and utilities requirements first.

Good luck!

I find that people are happy to discuss finances in general but are guarded about the specifics on their own finances - whether business or personal.  I don't discuss my numbers with anyone except my advisors.