All Forum Posts by: Shane H.

Who have you used so we all know who to avoid?  I have been hit and miss on my luck - some are good for a year or two then fall off the bandwagon etc - that's been my experience.

@Tyler Sharrett  Probably needed a water heater anyways so as long as they didnt tear up much else probably not much of a loss.

I'd make nice w the neighbors so they can help keep the crackheads away and install a couple good motion lights outside soon.

Looks like a good deal - care to share the address?  Curious what neighborhood it was in.

Who is your realtor?

It would make ZERO financial or business sense for someone to rent a place that small for residential assisted living.

Contrary to what others post on here RAL is not a get rich quick scheme and the money is made in operations - you'd have a dumb operator if they paid you much over market for rent - all their costs are elsewhere - namely staffing.  Just being real.

@Yuttana Chawengsub  I'll be able to make it to one of these yet.  Leaving that Sunday to go to Arizona with my dad for Royals Spring training for the week - excited for the trip.  Hoping I can make the next one ....  we'll have to make it to Wichita shortly after I get back!

There might be - I wouldnt personally do it - all the work is running the business/taking care of the clients and making sure all the bills are paid.  Really owning the RE is very little skin in the game unless someone was funding operations to get going.  

Just my opinion but you know what that's worth..ha - also very little margin on a house that small - lose one resident and with your labor costs/liab insurance etc - that eats you alive.

I would consider it but only in my operating area - Already have one in Topeka and dont want to open another here at the moment (36 bed capacity) 

Lawrence, Kansas City with Wichita being my first preference - Wichita is the only area I'd open a home plus at for now and it would need to be large enough to fit 12 residents and would need a sprinkler system as that is a state requirement once you get above 6 or 8 residents -- I'd have to double check the regs.  I know of a couple in Wichita that could be bought.

If you're interested in talking message me.  I'd only do deals with someone that vetted me and visited my present facility and where I'd be able to see the investors balance sheet and they'd need to sell me on why I'd want to do a deal with them - second requirement would be somewhere in the neighborhood of a 1-3 year purchase option as I want to own all of my real estate long term and do not want to be a tenant long term. 

@Phil K. my buddy has one in Wichita.

Not sure of the particulars of the murder in the one you are looking at but his circumstances were as follows.

His now wife was common law married to a former BF - they were together sometime and bought a house together - both were on the deed/mortgage -- She left the abusive piece of trash some years ago - her ex continued to live in the house and make mortgage payments...he had no money to buy her out and she never pursued getting her name off the deed/mortgage due to the legal hassle and expense.

Some time goes by - and in 2017 I think (cant remember) the ex strangled his then live in GF to death after a night of partying while there were roommates in the house...he's arrested - and I think he plead guilty or there was a trial.  

My buddy's wife got possession of the house after the police were done - had to do some painting, replace carpet as the ex bf was nasty - don't think there was much remediation needed where the victim died other than new carpet as it wasn't a "messy" death and the corpse didn't sit there long.

Anyways sorry for the gory details - but it was publicized on local media - address wasn't highly publicized however I guarantee every neighbor around knew what happened. 

So after everything shook out my buddy's wife's ex signed the house over to her and due to a lawsuit/lien put on the house by the victims family my buddy/his wife had to keep the house as a rental for a # of years until the victims families lien expires.   

The house was in a highly desirable older neighborhood - it actually caught on fire (electrical fire I think) in the early 00's I think and was completely rebuilt with the ins settlement while my buddy's wife lived with the guy back then) so house was pretty unique having old design but virtually brand new on the inside - 

She rented it in a weekend for a premium  due to how nice the inside was compared to other older homes in the neighborhood and they did tell the renters what happened - so far so good.

Long drawn out story but point is it worked for him - but they had an appealing product at the end as the house was very nice/done up right and in a great neighborhood to boot.

@Laura Abbott are you actually running the homes or renting them out to an operator?  How many residents can each home hold and what specialty are you aiming towards  (memory care, heavier care folks, walkie talkies that dont need much care at all etc)?

@Jonathan R. is it a little more in depth and involved with more folks than the one Jonny/Crissy/Recil run?  I went a few times when Daniel ran it and once or twice after - they had a good thing going then literally killed the group when they tried to charge money for dues on meetup  (It wasnt much about the money $5 - but there was never an explanation given as to why and it seemed as if it was a scam in the way the money request suddenly popped up - just poor execution)- The meetup discussion was super active as well as the email group then when all the members were deleted it went away.  Really a self destructive decision.