Investing in 55+ properties

3 Replies

Is it profitable to buy senior community (55+) properties to rent out? I am looking to buy my first property and want to decide what sector of real estate to focus on.

I am looking to do investing in South Florida rental properties after the market drops.


Originally posted by @Robert James Heitz :

Is it profitable to buy senior community (55+) properties to rent out? I am looking to buy my first property and want to decide what sector of real estate to focus on.

I am looking to do investing in South Florida rental properties after the market drops. 


I've done that profitably in the Phoenix market. You have to look at the HOA costs and rules. Some 55+ are very restrictive.

 

Hello John!  Senior housing rental properties bare on top of the Kyosaki's list and they know a bit about real estate.  The expenses are kind of high because of the services you need to offer to satisfy the movers.  I also have heard that those places need to be customized with 8 to 12 bedrooms.

I am now living in a senior home that has 7 other patients and those rooms are usually full.  Finding vacancies in Dallas is hard.  It is a converted home in a residential neighborhood in far north Dallas.

Definitely now the local, state, and federal laws that could effect your business.  It's location will matter and the amenities you can provide and others that are close.

I would think that Florida would be a good place to be.with that business.  Another worry might be it's current quarantine and how that could effect you right now.  I see you are kind of waiting off to buy at the right place of the value cycle and what it is in.

The more you offer, the easier it will be to do that.  Above average rent payments in regular MF could be good to own and less effected in the economy downfalls. Again, the location, job and population growth, and it's amenities will effect you in that industry as well as having good property management that knows what they are doing.

Good luck to you!