Thursday, October 2, 2014

swarm of grandma's

I've been doing a lot of work lately researching business opportunities back in Ohio.  My buddy and I have often talked about doing something together.  He owns a half dozen title companies and is doing quite well for himself but always wanted to get into real estate.  I'm in real estate with my mom but I think she's at the point where she needs to start seeing the returns on her investments and stop putting more in (since she won't see sizeable returns on new investments for 8-15yrs in most cases).  Anyways, he and I have been patiently waiting for opportunities and the timing to be right.

My plan all along has been to buy in the center of town in small cities situated near major rivers or the Great Lakes.  I think these areas will do well as lack of resources stops growth (and in many cases cause mass migration)  I figure all those folks living in the Southwest and in Florida will come streaming back when water (Florida too much, southwest too little) and cheap A/C become problematic. 

So far all of my properties are in Geneva right in town, but I need to branch out a bit as to not pile all my eggs in one basket.  So I've been researching the neighboring towns and counties.  Today I found this article.     It brings another dimension to my planning.  Most of the senior communities (as the article states) are built in the suburbs.  Right now it's the young folks wanting to live in the cities, but soon that might drastically shift.  Having some places downtown with easy access for elderly seems like a good idea. 

I came up with a bit of a to go talk to the City Manager and see if the city likes my idea and will help me out.  When that swarm of old farts starts coming I need to capitalize.  Bring on the grandma's!!