All Forum Posts by: Ryan J Wenrich

@Derek Felch I also live in Lawrence. Could you PM me details on your monthly meetup? I would be interested in attending if it's open. Thank you!

@Jacob Sampson I will be in Topeka next Monday morning, Thursday afternoon and Friday morning. PM if you'd like to meet up any of these days.

I'm an investor in topeka as well. Let's talk once you get back in the area.

I am considering purchasing a building to convert to an assisted living community.  The community would be run by a more experience operator.  I would simply hold the building as the landlord.  Purchase price is about $400k.  Additional updating is about $500k.  There are 11-13 bedrooms, a commercial kitchen, and a few other rooms to be used as offices, community spaces, laundry, and possibly a small gym.

What should I charge the operator for rent on this?  Obviously, as an assisted living community, the residents will pay a premium for services, so the operator is comfortable paying me a premium as landlord.  I want to be fair, but I am also concerned about the additional risk due to the fact that this building could not easily be converted to any other use should this operator fail.  

Any thoughts on how to determine a reasonable rent would be welcome.  Thanks BP Community!

@John K. I am an investor in topeka. I would be happy to have a discussion and hopefully point you in the right direction. DM me and we'll set up a call.

@Michael Mason I would recommend you check out the Bridge Real Estate Investing Meetup. You can find it on FB, and lots of members here on BP. You'll find a tremendous about of knowledge and experience and a genuine desire to help investors regardless of your experience level.

Have you considered bringing in partners with better credit?

@Aaron Weiler Are there any areas in particular that you're interested in?  Feel free to message me for an offline discussion.

@Josh Huber I am also looking to invest, find partners and build the right team in the Kansas City area. I have fairly solid knowledge of the area, as I've owned a few businesses in the city, and I live in Lawrence, KS (40 miles from Kansas City). I also own a small property management company in a neighboring city. Even if my company isn't the right fit for what you're looking for, I could probably help find the right managment. DM me if you're interested in discussing some options to get started in the market. I'd love to throw around some ideas.

@Nate Marshall I would love to connect to learn more as well.  I am in a similar position and currently seeking HNW individuals for large multifamily syndication projects returning 15-20% annually.  Thank you for any further information.