All Forum Posts by: Shane H.

@Thomas Cottrell   yes I have 6 and manage 2 for a couple others.  Stopped buying anything the past 2 years to focus on our business in Topeka but by the end of this summer/start of fall I have a goal to start acquiring more in Wichita.

Go find someone in the biz and talk to them - if you know nothing about the industry dont be greedy and think due to providing the land that you'd deserve a huge chunk of the profit - all the work/profit is in the operations/management of people.  

Find local senior care organizations, do enough googling or networking and you'll likely find networking groups where you can connect with folks in the biz then you can track down ownership or operators from there.  

Read your state regs, - involve your area authorities (fire marshall, building inspectors and anyone at the state level of whichever arm of state govt manages Assisted Living/Nursing homes early and often in the design/build process - they have to be kept in the loop and part of the process to keep happy and so that your facility can be auth'd and up and running)

Best of luck

@Paul Sandhu  Awesome - I lived in Holcomb for a couple years mid 00's for my first "Adult Job" and took to bird hunting in HS - upland hunting followed by Mule deer is my passion - if I could I'd be out bird hunting 2-3 days a week from Nov to Jan and then hunt out of state in Feb for a couple weeks in the southern states that stay open.

@Thomas Cottrell welcome and if you presently live in Wichita have you ruled out investing there?

@Keith C. - Yes Keith - it's that way in small town KS and some of the other flyover states - but you'd have to visit to get a feel for the area - if you are from/live in NYC you'd possibly die from culture shock -- I think small town KS is cool and appreciate it - but these areas are in different solar system compared to large metropolises.  I'm taking a wild guess but I'm guessing @Paul Sandhu   can buy stuff for or has $5k up to $50k without having been to Coffeyville in forever.  

Unfortunately our rural towns have been dying since the 50s/60s - which is sad as there are lots of cool and fascinating places - but it all happens slowly - first a large employer leaves, or maybe there's a farming crisis, tax revenue decreases, then folks with younger kids move away or the younger kids grow up then they immediately leave then never come back, then the schools start to die, then the schools close, then no one wants to live there, then the local hospitals or clinics lose fed or state funds then they close, their workers leave etc.  It's like a blackhole - once it's starts it's nearly impossible for these places to reverse the trends - a few places in KS have gotten better - Dodge City, Garden City, Hays - they hang on and are relatively "progressive" (I use that term loosely) compared to their other rural neighboring cities) and have found a way to survive and somewhat thrive in today's society.  

I think Coffeyville can hang on.  Some of the houses built by the titans of these local towns back in their heyday are AMAZING - some places in KS these houses are just rotting and it's SAD -- I can think of a few I've seen in Kinsley KS on some of my hunting trips -- in the right place in Wichita or KC or a larger metroplex you'd have people lining up to buy and rehab them.    My hope is we may someday soon have a reverse trend of folks wanting to live in large cities and wanting to go rural again with the progression of technology (however it will likely take just as long for the re-population of rural America to happen again as it did for it to die - but we need more companies to embrace remote workers as we have the technology in a lot of positions within companies for many things to be done remotely, 2ndly we need driverless cars legal and working, 3rdly we'd need to rebuild some of the infrastructure or figure out a way (likely tax incentives) to get people to move back to these places so things like schools/banks/hospitals etc can reopen or be revived.  

This post cracked me up - If I ever make it down in your corner of the state I'll have to look you up and see if I can get a tour of an open STR -- if you're ever up my way in Topeka look me up.

@Austin T Bradford -- I'd start by going to some of the local RE Meetups - there are 2 or 3 I'm aware of in Wichita - find someone who is actively flipping and see if you can offer your services to them in exchange for some education - Figure out what you have to offer and offer it in exchange for some real world experience.  Once you start looking you can find the movers/shakers and see if you can work with them for a while.

@Jacob G. I did an SBA loan with one of the major banks for our assisted living facility.  A lot of paperwork I filled out was bank specific as far as I could tell.  Just be prepared for loads and loads of paperwork

Some things I remember that weren't bank specific were a projected pro-forma for the business, your resume and anyone else applying's resumes, bank statements, plenty of statements for your funding source for the down-payment, mortgage balances on property you own etc.

I have one tip that worked in my favor purely by accident -- but a quick question and I can guide you and provide you the infromation - do you own your own residence or have any investment property? If you have any investment property how is the investment property titled (in your name only, in a 1065 partnership LLC etc etc)....last question - what is the size of the SBA loan you are attempting to get and what type of business/property are you trying to buy?

@Ron S.  you give off Attorney vibes.  Hypothesizing law is where your formal training resides?

@Maurice W. Evans what is the address - we can solve a lot of your questions with that.  If you'd like PM it to me.