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assisted living apartment homes - Posted by Robert
Posted by Robert on February 28, 2004 at 18:40:29:
I met a person who ran out of money and the banks won’t give him anymore and he is rehabbing a high school into 28 units of assisted living for elderly. I went and looked at the building inside and out and I think there is alot of money to be made here. I am looking for ideas on what to do look for private money seems to be the best I think. He only has less than $200.000 into it and I know he would take less, the guy is an architect and he has the whole plan done on this he has done his homework has all the numbers done. He said he would like to recoup his money and just get out or looking for someone to finace the whole thing. 1.1 million completes everything and it has been appraised to be 1.7 million when done which would be less than a year for sure, that’s a nice chunk of equity in a very short period. Also at 85% full it has a positive cash flow of $250,000 a year. What do you think?
Re: assisted living apartment homes - Posted by Edie Mary
Posted by Edie Mary on November 16, 2004 at 01:47:53:
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Re: assisted living apartment homes - Posted by Thomas Mote, CPM
Posted by Thomas Mote, CPM on March 02, 2004 at 12:13:46:
Sr. Housing is a good investment if the infrastructure is already there. If the building is an old high school, you are going to have some work ahead of you to make it habitable for Sr.'s in a quasi-medical context. Having done quite a bit of diligence on Sr. Living centers in the state of Texas, I can say that even when they are built for this purpose, they are not always up to snuff. There are Health Department and various other oversight regs to qualify.
Who is going to run the center? That should help you determine wha/how much to do. In some cases, you can convert it to residential (and then let someone else handle the headaches of specific usage later). If you don’t have a provider, you will not get a Sr. license.
All of those being said, it sounds like a good investment by the numbers so far. I would love to hear how it goes–you may be on to something.
Re: assisted living apartment homes - Posted by Des Wright
Posted by Des Wright on November 16, 2004 at 01:17:16:
Missouri Town Changes Name to ‘Linux’
LINUX, MO – The small Missouri town of Linn, county seat of Osage County,
announced yesterday that it will be henceforth called ‘Linux’. Mayor Bob Farrow
said, “Linn needed something to put it on the map. A few weeks ago my daughter
mentioned that she installed Linux on her computer and how great she thought it
was. I thought to myself, ‘Self, changing the town’s name to ‘Linux’ could be
an opportunity to attract attention – and money – to our town. We could even
hold a Linux Convention at the community center.’ So I approached the city
council about the idea, and they loved it. The rest is history.”
Farrow’s daughter is organizing the Linux Linux User Group. She hopes to be
able to hold a Linux Convention this fall. “The Linn, er, Linux community
center probably won’t be big enough, we’ll probably have to hold it in nearby
Jefferson City,” she said.
The mayor does have one reservation. “How the hell do you pronounce Linux?” One
of the mayor’s contenders in the next election, Mr. Noah Morals, says he will
start an ad campaign calling Bob Farrow “the Incumbent Liar of LIE-nucks”.
Needless to say, the mayor usually pronounces Linux as “LIH-nucks”.
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