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13 March 2024 | 25 replies
2020 update: the AHS paid for itself again, right now I'm about -$250 with the premiums I've paid vs. the coverage they've provided.
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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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11 March 2024 | 1 reply
We BRRRR 8-10 per year and the flips supplement the money left in the BRRRRs.
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12 March 2024 | 12 replies
We BRRRR 8-10 per year and the flips supplement the money left in the BRRRRs.
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11 March 2024 | 2 replies
I've been quoted by a few however some declined coverage for being a log cabin semi close to the lake and a 2nd home or did not cover loss-of-rent.anything works!
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12 March 2024 | 22 replies
This order could potentially grant you access to the property for inspection, considering the insurance requirement.If the current insurance policy is unfeasible due to access issues, explore other insurance options that can provide coverage under these circumstances.Keep a detailed record of all your attempts to conduct the inspection and any communication with the tenant, the insurance company, and legal entities.
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11 March 2024 | 32 replies
Title insurance doesn't cover future matters unless you purchase affirmative coverage for same either through enhanced title insurance or endorsement.
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10 March 2024 | 2 replies
Ensure that the commercial rental insurance policy includes coverage for the company's stay in the property.Include Legal Language: The lease amendment should clearly state the terms and conditions of the arrangement, including responsibilities for maintenance, utilities, and any other pertinent details.Seek Legal Advice: Consider consulting with a local attorney specializing in real estate to ensure compliance with Arkansas rental laws and to draft the lease amendment accurately.Document Everything: Keep thorough records of all communications, amendments, and agreements between you, the company, and Avail for future reference.Good luck!!
11 March 2024 | 4 replies
When considering conventional financing after the initial purchase, lenders will assess your debt service coverage ratio (DSCR) and having a strong track record of successful real estate investments can enhance your appeal.
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11 March 2024 | 14 replies
Not worried about it, and the FDIC is there if something goes bad. in actually a little worried for you, if you have millions in rent collection per month, so you have sufficient FDIC coverage?