All Forum Posts by: Glenn McCrorey

@Joseph Tramonte  Are you talking to a company that provides services or are you just thinking about renting out rooms in a house?

@Christian Paez  question 1...no  question 2-4... I rent to the company not the individuals, the company is on the lease and yes everyone has their own bedroom.  question 6.... you have a discussion with the representative from the company about what if any modifications are needed and who is going to pay for them.  question 7... if you put in a ramp or something it has to meet the city's code.  question 8-9...not commercial just normal residential rental.

@Christian Paez  @Johnny Hastings  Guilty as charged.  The BP one wasn't too good because they made me talk about a bunch of other things but the Kevin B podcast was strictly about special needs housing.  I start with the end customer then find the house.  In your case, reach out to companies that provide Home and Community Bases Services (HCBS).  This is where 3 to 5 individuals live in a house and share expenses while a Medicaid funded company provides these daily living services.  Google that and your area and see what you find.  Glad to help in any way.

@Nicholas Wallraff  Great start.  I try not to sell anything, fyi.

@David Hansen  I start with a tenant that needs that sort of accessibility then find the house to modify.  It doesn't have to be 100% wheel chair accessible.  I rent to companies that get paid to take care of folks with disabilities.  Google "home and community based services" to find companies that provide those services.  They often have housing needs.  They do not move out of these properties because they are too hard to find.

I use AMMT Property Mgmt.  Lucas Burrington is the main guy.

@Denise Webster  I agree with Manolo if you're flipping it.  If you were going to keep it as a rental making it let's just say wheel chair compatible might be a good idea.  I rent to special needs clients through agencies that provide "home and community based services".  Perhaps there are some in your area.  You could contact them and ask if they ever have a need for this kind of housing and I'm sure they will say yes.  Since wheel chair accessibility is tough to find renters tend to stay for a long time.

Julie Freeman runs the Tues. meeting.  I will send you her number. It's $5 each to cover the room and there are no sales pitches which I like.  Get on her email list, she sends reminders and tells you what the topics are going to be.  Tell her I sent you.  Also, her husband John is a CPA and they have rentals so another good person to know.

@Dave Foster  Thanks Dave.  A lot of people don't think that far ahead but you know what they say about death and taxes!  People ask me what my exit strategy is and I just say "to die rich".

@Evan Cochran  Thanks for getting my little heart pitter pattering... I just sold a condo I have had 13 years (I rarely sell anything) but I think depreciation recapture is 25% unless you die while owning it, then it goes away or should I say it starts over at the new market value and your heirs pay if they sell someday based on what they value was established at your death and how much they depreciate it ... at least that's what I believe but welcome comments or corrections.