I would highly recommend that you speak with an attorney that does this on a regular basis to ensure you are protected and to ensure the loan docs are legally binding - the loan docs are of course key to ensure that you have documents you can execute on in the event of a default (mortgage, note, assignment of rents, personal guarantee, etc.). 

I manage the property for her and planned/executed a rehab of 3 out of the 4 units in this building doing most of the work myself (that's just some background info on the building). 

A self funded care plan is challenging to execute and I empathize with you and your family.   

The only way t estimate execution of repairing/refurbishing or remodeling of a structure is to physically perform an estimate.

Fix & Flip or BRRRRs would be great strategies for you to execute rather quickly, if you are in a city for less than 6 months.

Any questions, feel free to reach me, David Page, Executive Director of the REIA, at [email protected]. 

Your biggest risk if you execute the plan will be running out of money in retirement, either due to natural longevity and/or later health issues draining your resources.  

Hello everyone.  I currently lead a family group of real estate entrepreneurs/novice investors who are looking to supplement our current incomes, build wealth and create financial independence for ourselves and future...

Some just make perpetual threatening phone calls.Some start court actions, so they get a money judgment which they can use to at least garnish state income taxes (you can't garnish federal returns).Property owners need to start asking PMCs HOW they will execute their services, so owner expectations can be better met:)

But there are some challenges; notably it's easy to rehab out all your equity and it can be hard to find contractors/vendors sometimes.Also, a small town can be particularly vulnerable if it's reliant on one major company if that company leaves.