All Forum Posts by: Shilpa Patel
Shilpa Patel has started 0 posts and replied 10 times.
Post: Austin Market Report - February 2023
- Austin, TX
- Posts 10
- Votes 5
Love these posts. Thank you!
Post: In Search of a Property Manager
- Austin, TX
- Posts 10
- Votes 5
@Cierra Butler
J R Grace Realty https://g.co/kgs/z9Zuna
Talk with Patrick, he's the owner.
Post: Bank of America announces zero down payment loans
- Austin, TX
- Posts 10
- Votes 5
@Sagar Patel
Right. I'm sure these loans will have PMI of some sort attached to them so they get paid either way.
Post: What would you do in my position
- Austin, TX
- Posts 10
- Votes 5
That's a great question and I don't have an answer for you. I would be curious to know if you could sublet the unit. I'm sure someone more experienced will chime in.
Post: What would you do in my position
- Austin, TX
- Posts 10
- Votes 5
Quote from @Kevin Lechuga:
Question I am 22 years old I have 40k willing to invest I want to get into multifamily 2-4 units buy and hold . My question is what route would you take? my living area in Texas is pretty expensive and doing 20% down would eat up my cash and I’m unsure about househacking at the moment . What would you do with your knowledge and experience any feed back is very much appreciated Thankyou !.
Hi Kevin,
You may qualify for an FHA loan with a down payment of 3.5% for properties that have 2 to 4 units. You'll have PMI but you could refinance out of that later down the line.
Post: A "Pinch Me" moment - I bought a 1,000 unit apartment complex
- Austin, TX
- Posts 10
- Votes 5
Wow. Talk about inspiring! Can't wait to make my first purchase. 🙌🏼🙌🏼🙌🏼
Post: High Maintenance Tenant - Looking for your input
- Austin, TX
- Posts 10
- Votes 5
@JD Martin Agree. Some people mistake kindness for weakness. Get firm and get him out.
Post: QOTW: How long did it take you to purchase your first investment?
- Austin, TX
- Posts 10
- Votes 5
@Cade Olof Great story!
Post: Assisted Housing for the Disabled
- Austin, TX
- Posts 10
- Votes 5
Hi William,
I work in private pay senior living which includes independent living, assisted living and memory care in Texas and Utah. I have ran four communities myself (in Texas) and learned a lot. I do know California has the most stringent regulations. Here's a couple of links to get you started if your focus is the elderly.
https://caassistedliving.org/p...
https://www.cdss.ca.gov/infore...
Oftentimes, people get skilled nursing confused with senior living including the state auditors/surveyors. Knowing the difference is key as an owner/operator to better guide your business decisions. Senior living also falls under "long term care" but most of these buildings are private pay. The business itself is very complex - think apartment building with a restaurant, activities, 24/7 care staff, maintenance and housekeeping. I typical 80-unit building can have up to 50 team members under 7 departments. Margins during covid were slim due to labor/staffing issues and inflation.
As far as housing for pregnant women, I am not educated on that topic.
Let me know if you have any questions.
Shilpa
Post: Any Experts/owners on ALF assisted living 50-80 units.
- Austin, TX
- Posts 10
- Votes 5
Hi Chris,
Happy to help. I work in senior living and oversee multiple communities which includes IL, AL and MC. What questions do you have?
Shilpa