REAL ESTATE A.D.A. compatible housing?

[rcardin]

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.

 

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[Runum]

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.

Greg

 

[andviv]

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.

 

[kurtyordy]

The question would be, do ADA people go Section 8. If so, I think that is a genious move.

Rep+ for that one

 

[rcardin]

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.

 

[kurtyordy]

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

 

[rcardin]

The question is....

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

 

[rcardin]

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

 

[Runum]

Hey RC what was the answer from Dallas Housing Authority?

 

[rcardin]

13 more working days then I will have time. Sucks to work for a living! I still think there is a market though

 

[Runum]

OK, you know I understand. I am burning all of my personal days I can before leaving. I have 8 more working days.

 

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[andviv]

have 8 more working days.

7, and counting!!!!