• The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success
  1. The forum software will be upgraded on Sunday May 26th and may not look normal during the transition. Some functionality may be offline. This is TEMPORARY and is expected to last up to 8 hours.
  2. Join 50,000+ entrepreneurs
    who are kicking butt and
    winning their dream life.

    Unscripted™ Entrepreneurship:
    A Business That Pays More Than Money, It Pays Time.

    "Fastlane" is an entrepreneur discussion forum based on The Unscripted Entrepreneurial Framework (TUNEF) outlined in the two best-selling books by MJ DeMarco (The Millionaire Fastlane and UNSCRIPTED™). From multimillionaires to digital nomads, the forum features real entrepreneurs creating real businesses.

    Download (Unscripted) Download (Millionaire Fastlane)  Register
    Registering for the forum removes this block!

Real Estate A.D.A. compatible housing?

Discussion in 'Real Estate Investing' started by rcardin, Jan 28, 2008.

  1. rcardin
    Offline

    rcardin Contributor

    Messages:
    512
    Likes Received:
    46
    Joined:
    Oct 30, 2007
    Location:
    Arlington, TX
    Rep Bank:
    $81
    My wife and I have found a property that is partially wheelchair accesible. Has anybody ever thought of using section 8 with A.D.A. (Americans with Disibilities Act) modifications to find tenants or using it as a rental point going through government agencies?
    Just a brainstorm we had. Seems like it coud be a niche market. The idea is to hopefully have a waiting list for tenants needing that kind of housing.
     
    kurtyordy likes this.
  2. Runum
    Offline

    Runum Platinum Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass Summit Attendee

    Messages:
    5,968
    Likes Received:
    4,273
    Joined:
    Aug 8, 2007
    Location:
    DFW
    Rep Bank:
    $12,839
    Hey RC. Good to see you're still going at it. Last fall I bought a property and asked some rehab questions around here. Diane Kennedy said something about having the feds helping out with 50% of construction costs to make a structure ADA compliant. I didn't follow through with it. You may want to contact her about making yours compliant. Good luck, sounds like you may have a great idea.:thumbsup:

    Greg
     
  3. andviv
    Offline

    andviv Gold Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass Summit Attendee

    Messages:
    5,411
    Likes Received:
    2,172
    Joined:
    Jul 27, 2007
    Gender:
    Male
    Location:
    Washington DC
    Rep Bank:
    $3,421
    I had a contract in a house that was just like that. It was used as a nursing home and by that they were pulling thousands in positive cashflow. But this was a business, and I was not interested in running that business, so I let that one go. I did find that very interesting.
     
  4. kurtyordy
    Offline

    kurtyordy Bronze Contributor

    Messages:
    2,376
    Likes Received:
    276
    Joined:
    Aug 28, 2007
    Location:
    PA
    Rep Bank:
    $240
    The question would be, do ADA people go Section 8. If so, I think that is a genious move.

    Rep+ for that one
     
  5. rcardin
    Offline

    rcardin Contributor

    Messages:
    512
    Likes Received:
    46
    Joined:
    Oct 30, 2007
    Location:
    Arlington, TX
    Rep Bank:
    $81
    Section 8, social security benefits, your neighborhood blue collar worker with a kid with a disability. What are theie choices for housing?
    This is a brainstorm that I think may have a long term benefit to society as well as investors.

    BTW my wife teaches Special Ed kids and has a passion for it.
     
  6. kurtyordy
    Offline

    kurtyordy Bronze Contributor

    Messages:
    2,376
    Likes Received:
    276
    Joined:
    Aug 28, 2007
    Location:
    PA
    Rep Bank:
    $240
    I thought sec 8 housing was low income, where as ADA folks can get disability (s.s.)checks from the government which is unrelated to the sec. 8
     
  7. rcardin
    Offline

    rcardin Contributor

    Messages:
    512
    Likes Received:
    46
    Joined:
    Oct 30, 2007
    Location:
    Arlington, TX
    Rep Bank:
    $81
    The question is....

    How many people on social security qualify for sec 8 based on income?
     
  8. rcardin
    Offline

    rcardin Contributor

    Messages:
    512
    Likes Received:
    46
    Joined:
    Oct 30, 2007
    Location:
    Arlington, TX
    Rep Bank:
    $81
    Quick update...

    Went to look at the house. 3br 2 ba 2car garage Needs at least 10k in foundation and total make over. Repo asking 44.9k ARV based on comps from the neighborhood are around 77k. Average time on market 88 days in that area.

    Emailed Dallas Housing Authority to find out if there is a need for this type of housing
     
  9. Runum
    Offline

    Runum Platinum Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass Summit Attendee

    Messages:
    5,968
    Likes Received:
    4,273
    Joined:
    Aug 8, 2007
    Location:
    DFW
    Rep Bank:
    $12,839
    Hey RC what was the answer from Dallas Housing Authority?
     
  10. rcardin
    Offline

    rcardin Contributor

    Messages:
    512
    Likes Received:
    46
    Joined:
    Oct 30, 2007
    Location:
    Arlington, TX
    Rep Bank:
    $81
    13 more working days then I will have time. Sucks to work for a living! I still think there is a market though
     
  11. Runum
    Offline

    Runum Platinum Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass Summit Attendee

    Messages:
    5,968
    Likes Received:
    4,273
    Joined:
    Aug 8, 2007
    Location:
    DFW
    Rep Bank:
    $12,839
    OK, you know I understand. I am burning all of my personal days I can before leaving. I have 8 more working days.
     
  12. andviv
    Offline

    andviv Gold Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass Summit Attendee

    Messages:
    5,411
    Likes Received:
    2,172
    Joined:
    Jul 27, 2007
    Gender:
    Male
    Location:
    Washington DC
    Rep Bank:
    $3,421
    7, and counting!!!!
     

Join 1000s of entrepreneurs who are rewriting life's script and winning financial freedom.

---- ----

You must be a member to join the conversation.

Create Account

Join the community fast and easy!

REGISTER

Log In

Already have an account? Login here.

LOG IN

Share This Page