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All Forum Posts by: Shilpa Patel

Shilpa Patel has started 0 posts and replied 10 times.

Post: Austin Market Report - February 2023

Shilpa PatelPosted
  • Austin, TX
  • Posts 10
  • Votes 5

Love these posts.  Thank you!

Post: In Search of a Property Manager

Shilpa PatelPosted
  • Austin, TX
  • Posts 10
  • Votes 5

@Cierra Butler

J R Grace Realty https://g.co/kgs/z9Zuna

Talk with Patrick, he's the owner.

@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

Shilpa PatelPosted
  • 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

Shilpa PatelPosted
  • 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.

Wow.  Talk about inspiring!  Can't wait to make my first purchase. πŸ™ŒπŸΌπŸ™ŒπŸΌπŸ™ŒπŸΌ

@JD Martin Agree. Some people mistake kindness for weakness. Get firm and get him out.

@Cade Olof Great story!

Post: Assisted Housing for the Disabled

Shilpa PatelPosted
  • 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

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