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12 March 2024 | 1 reply
It doesn't seem to be available anymore - I followed the link and downloaded the files only to open empty/broken files.
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12 March 2024 | 1 reply
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 a 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 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 for 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.
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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 | 22 replies
My concern is what he will do when he gets released, if the scenario plays as is being painted.The illegal occupier believes the system is broken, that he has rights over the land as a human being and told me he is willing to die for these rights.The police said they will have backup as they are concerned with the situation.
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13 March 2024 | 11 replies
Some of the work we did ourselves, but most of it we contracted out.Fast forward to today, We spent about 70k on all new bathrooms, flooring, minor upgrades, and a badass kitchen.
12 March 2024 | 19 replies
I invest in Birmingham and there are neighborhoods that would do well for cash flow on paper but then the neighborhoods are rough, which means my cost of maintenance is going to be higher (broken windows, stolen HVAC units, etc).
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12 March 2024 | 41 replies
Funny part is if I do all this upgrading - the house will be nicer than it ever has......only when me and my family are leaving it lolol.Some good points on the ROI and the 875k number.
14 March 2024 | 60 replies
That update includes 3 possible action plans.Continue with things as is for the next two weeks.Lower the price by X amount.Perform X amount of premium upgrades or improvements to the property.From there we follow up in a similar fashion every two weeks.
12 March 2024 | 18 replies
Funny how tenants want you to spend time and money making upgrades and they reward you by not taking care of the property.
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11 March 2024 | 7 replies
Multiple times I was called over to fix doors that had been pulled off the hinges, Outlet covers that had been pulled off and broken, towel rods and toilet paper holders pulled off of walls, stuff put down the drains causing back ups.