All Forum Posts by: Trevor Lohman

Hands down the best online forums I've ever come across, real estate or otherwise. 

I try to contribute as much as possible, but often there are much more experienced more qualified people who answer questions before I get there. I think there are just more new people on BP than there are experienced people. Haha which makes sense, they're busy doing deals!

Almost every question I've ever had has been answered kindly and quickly on this site. Love it! Thanks to all of the experienced people here who take the time to share your wisdom/experience. It's very impressive and us newbies are all very grateful. 

@Bhuvanandra S Kumar 

What type of licensing is required for this?

I come across a lot of board and cares out here. I used to do home health full time but am mostly in administration now. 

It seems that these places (out here at least) are typically 4-5 bedroom homes with an unskilled  caregiver or two. I believe licensure requirements for these caregivers are evolving, and there may be a licensure requirement now, but it is still not a high paid position by any means. 

They provide no medical care, only cooking and cleaning. 

All medical care is provided by outside skilled personnel. 

Is this different from what you guys are working on @Christopher Colburn?

One time I came across the owner of one of these places. He shared with me that per bedroom rent was 3200 dollars for a single occupant room, and over 4000 for a double occupant room. 

These are in expensive markets mind you, but it still seems quite rewarding. On top of that you are helping people. Seems like a great model if done right and with some compassion. Best of luck and I look forward to hearing more about your progress!

Wanted to give an update on this thread, 

Slack has been awesome! Thank you for that recommendation @Tony Xu. The ability to create separate channels has been very nice for allowing people with similar interests to group up. 

One thing that I've begun to notice is we have a lot of California people looking for boots on the ground OOS (myself included). We seem to have lots of people looking to invest, but not so many boots on the ground. @Gwen Fyfe has been incredibly helpful as a cleveland local. Ohio in general has been a market being discussed a lot. If you're in columbus or cleveland, or really any market that you think OOS investors would like to learn more about please join our group! I know we have people looking to connect with knowledgeable folks in IN, TN, etc.

I just want to encourage any upstart investors out there in midwest/southeast markets to join. I wish I lived in a market like that because I think you have huge asset just based on your location. There is a great opportunity for you if you live in a promising rental market to form some partnerships and gain access to capital. There are a lot of OOS people who aren't sure about the turnkey model, and would love the opportunity to meet you and form a investment partnership of some kind. 

If anyone would like a link just PM me.

Can you tell me what the property taxes are?

Can you tell me what the property taxes are?

Ryan Tyree sorry if this was already mentioned. The 750 hr rule allows you to deduct depreciation from your personal income if your AGI is above 150k. It's a little more complicated than that, but that's the basic idea. You can deduct depreciation from your rental income no matter what though. However, If you make more than 150k, you have to be a real estate professional (750 hrs per year) to deduct the passive loss from your personal income. Depreciation is still a huge phantom write off even if you can't deduct from personal income, because you can still deduct it from rental income just like any other expense. Hopefully I made sense here

Probably the same thing sorry, I just always thought assisted living required a higher level of credentialing/applications/paperwork. I'm only familiar with the field from a clinicians perspective. But from talking to some of these owners, I know rent is pretty significant

If you're referring to board and cares, a little different than an alf, I think this is an awesome idea!!!

@Alex Hively

Awesome Alex I'll send a link. Milwaukee is an interesting market! We might be picking your brain a bit. 

Exactly Tony Xu This isn't limited to a specific geography. If anything it will be a huge plus having people from markets other than CA. Just living where you do might be an asset to the group. For those people who have chimed in so far, what are your goals, strategies, etc? Talk about yourselves a little.