Mods, please don’t close this.
Peeps, R-E-S-P-E-C-T
We finally put my Mom at an assisted living facility and she absolutely loves it. She’s the main attraction over there. If you think I’m the social butterfly you ought to see her. Those of you who’ve met her at a tailgate know what I mean, but boy o boy is it expensive - $6M/month Anyone here have any experience with different options on taking care of an elderly parent?
After my Dad died in December 2020 at age 93 from Covid, —
(family member anti-vaxer, anti/mask, anti-Fauci and anti-anyone telling them what to do) gave it to my parents. She recovered very well. It kicked his ass and killed him (had never been in the hospital before in his life!)
— Mom couldn’t handle the loneliness and wouldn’t eat or take her meds and got to the point where she’d fall and hurt herself. One time causing a serious head injury that required a two week stay in the hospital. That was the last straw. The thing is she physically extremely healthy. She has enough money in the bank to last staying at the facility for about 4 years and if we sell her house, about 10 years. Then what? I’ve been proposing to my brothers to consider using the house as income property so as to keep the house AND the income. They’re somewhat (and understandably) hesitant to deal with maintenance and tenants.
ANYWAY, anyone here have experience with AirBnB or vacation rental property in general? The house is literally 1/2 block from the beach. If so, please reply here or send me a PM.
None of it is cheap anymore. It was until about 2000. Then companies were losing their butts on it and got out.
I wouldn’t buy Genworth. They have financial issues and tried to sell itself to the Chinese. Even they wouldn’t buy it.
I’ve been active in LTC sales for 25 years. Been through it with parents, in-laws and clients. It’s been like gold when people have it and need to use it
Great post JohnnyCougar. First and foremost my deepest condolences for your loss.
Our society in general be here, Europe so called civilized countries does not want to take ownership of our elderly. I am not for taxes in general but what about putting one that really works? There is so much waste that we could indeed find the money. This ought to be a non political issue but a basic humanitarian one. This pandemic has put this issue at the forefront. I would like politicians to finally address it instead of sweeping it under the rug. Thinking of you JohnnyCougar. We might not agree on a couple of things but remember friends we are all humans. We are in 2022 for Christ’s sake.
Johnny,
Sorry to hear about your Dad and your moms new living arrangement. But it sounds
like she is thriving in that environment. Agree 6k/month is expensive and social security at most
only covers 1/6 to 1/3 of that expense I’d imagine. Your plan of converting the house to a rental
sounds like a good idea to me , but I’m not clear on the net of the rentals after taking into account
management fee, upkeep and maintenance, insurance, and taxes. Hopeful the property owner can get at least 30-40% of rental gross, but I have no experience here, just an uneducated guess.
My neighbors have a b&b in Galveston that they originally purchased as a “get away” place for themselves. They decided to post it as a airb&b and now say they can’t “get away” except to clean it to get it ready for the next group of guests. I don’t know any of the particulars, but if the house you’re talking about is 1 block from the beach it should be popular.
I have a two unit rental property by Galveston. I do good with it but I’ve also have been wanting to do Airbnb. VRBO gave me an estimate of 1000/wk but to me those projections are super optimistic. Will try it soon thought within the next 2 weeks or so. My tenant is a very good tenant so rent isn’t hard to get but i can see how it would be at times for other people. Depending on what you already have to fix in the house you’d have to make your projection. If you have experience with those types of numbers I’d make something quick and add 20% to that estimate.
When it comes to assisted living. Just make sure you check on your mom regularly. I know some places claim to be good but aren’t. I hope that M next to that 6 doesn’t mean million. If it does then they should be kissing the floor she walks on even more.
No thank you, thank you to you JohnnyCougar. You opened up your heart to us. Just for that single thread we all here to think about what you are going through. I do not know you from Adam but I can assure you that I am thinking of you. This crazy pandemic did not allow me to visit my parents in two years. Pray knows how my 2020 was and I won’t wish it on anybody. What matters is any help, comfort we can suggest to you. Coogfans has nothing to do with sports…it does you get my point. It is about one another for each other. Thumbs up JohnnyCougar.
Johnny, how old is your mother? I had a similar situation with my great aunt who lived to 102. Just remember, the price may be $6K a month now, but it will increase every year. My aunt died in 1999 and the price she was paying was $3000 a month then. Her rent increased from $2.5K to that in 3 years. That’s something you need to consider.
Biggest competition for space, hence inflating prices, is folks coming from out of state. Especially the northeast.
My mother in law was in Calder Woods in Beaumont which is very nice. I;d say over half the people there were from NY and Pennsylvania because the cost of the Texas facility was 60% of what they pay up north.
Anyone here have any experience with different options on taking care of an elderly parent?
F U cancer and I digress.