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12 March 2024 | 2 replies
Pros:Stable Income: These facilities often sign longer leases, providing landlords with a more stable and predictable income compared to traditional residential rentals.Higher Rent Potential: Because these facilities generate income through the services they provide, landlords might negotiate higher rent than standard residential properties, reflecting the commercial nature of the tenant's business.Lower Tenant Turnover: Residential assisted living facilities tend to have lower turnover rates, reducing the frequency of vacancies and the costs associated with finding new tenants.Social Contribution: By renting to such facilities, landlords contribute to addressing the growing demand for assisted living and support services, positively impacting their community.Property Maintenance: Tenants in this sector often maintain the property well to comply with regulations and ensure a comfortable living environment for their clients, potentially reducing wear and tear.Cons:Regulatory and Compliance Issues: Facilities must adhere to strict regulatory and compliance standards, which can involve the landlord in complex legal and zoning issues.Higher Insurance Costs: The nature of the business might require additional insurance coverage, potentially increasing costs for landlords if they are responsible for carrying this insurance.Modifications and Upgrades: Meeting the specific needs of an assisted living facility may require significant property modifications and upgrades, which can be costly.Market Limitations: Should the lease end or the facility close, the specialized modifications made to the property might limit the market for future tenants, potentially requiring substantial investment to revert the property to standard residential use.Operational Oversight: Landlords might need to monitor the facility's operations more closely to ensure compliance with lease terms and local regulations, requiring more hands-on involvement than traditional rentals.I know tons of investors who are renting out their properties using this strategy here in Fort Worth.
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12 March 2024 | 4 replies
DSCR will likely be very hard on a property like this considering the hotel-type nature (the info mentioned in #2 with the business website, online booking capability, etc.).
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12 March 2024 | 3 replies
Naturally, everybody has their own plan, risk tolerance and strategy, but what is your general attitude towards paying down debt faster and why?
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13 March 2024 | 16 replies
Installing over existing shingles is a smart way to save on labor and disposal costs, plus the lightweight nature of metal roofs makes this feasible.
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12 March 2024 | 29 replies
We’ve recently invested in syndications and are very happy with the hands-off nature of the investment along with returns.
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13 March 2024 | 25 replies
There're some guests also, that are acting more than a home property inspection, it's just the nature of the business I guess LOL.
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11 March 2024 | 3 replies
@John SeitzAirport Appliance Stl 8925 Natural Bridge Rd Saint Louis, MO +1 (314) 801-8677River City Appliances816 Lemay Ferry RdSaint Louis, MO 63125+1 (314) 885-8374St Louis Appliance Outlet2253 Administration DrMaryland Heights MO 63146+1 (314) 932-0123
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11 March 2024 | 36 replies
Remember you will not control mother nature.
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13 March 2024 | 55 replies
In short, what differentiates me from my competition is my adaptability and my compassionate nature.
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11 March 2024 | 9 replies
The property has walking access to local parks with playground as well as nature walks.