Updated almost 9 years ago on . Most recent reply
Rental Property for Assisted Living
Hello there, I hope everyone is doing great. I need some assistance in acquiring a rental property for a 6-bed (4 bedroom house) RCFE/ Assisted Living facility. The requirements set forth by the social services are that it needs to be a single story house. Since my debt to income ratio is very high (student loans), I am unable to purchase a property at a decent rate, and cosigner's option is a risky option (still trying to acquire one though).
If I can find a previously licensed home that owners are not interested in running anymore would be an ideal scenario. Second option would be to rent a house with the owners willing to have an open mind about the idea of running an assisted living (tough ask) from the house.
My family is already running an assisted living, but can't help me with buying a new house due to their low FICO. I have experience in running this business.
Ideal areas would be Riverside, Moreno Valley, Hemet and Perris. Thank you very much.