Do Assisted Care and/or B & Bs rent facilities??

Question

Hello,

My Brother-In-Law's family may (only may) be able to 1031 exchange into a property that has a century old farm house on 33 acres of land. It is a working citrus and avocado farm. The house is located between LA and Santa Barbara and is an easy drive to either of those "destination" cities. It is also very quiet and peaceful.

I have the creativity of a rock, but even I could write the marketing for a B&B located in the house. My Sister and Brother-In-Law are too old to try and run a B&B or assisted care facility. Do providers of those services rent facilities?

I probably left out a LOT of information, but I don't know what I don't know.

Thanks to all for your time and effort.

Bill

Bill B. · Answer

Hello Mr Exeter.

Thank you for your reply. If this goes through as hoped, we may contact you for any B&B operators that you may know. If this all works out, I'm sure that the family will make sure you are aware of the grand opening!!! You'll love it!!

Thanks again,

Bill

Bill Exeter · Answer

Hi @Bill B.,

Yes, the ownership of the real estate and the operation of B&B's are often separated. Your brother-in-law's family could 1031 Exchange into the property and then lease it to you or any other party that would want to operate the B&B.

Let me know if you do! My wife and I love visiting B&B's.

Do Assisted Care and/or B & Bs rent facilities??

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