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Aging America: How older adults hope to age in place

More and more, older adults favor aging in place, preferring to remain active and independent beyond middle age while still having access to transportation options and healthcare services they can use as their needs change.

About 77% of Americans age 50 and older say they would like to live in their community as long as possible, but just 59% anticipate being able to remain in their current home or a different place in the same community, according to AARP’s 2018 Home and Community Preferences survey. While most adults age 18 and older—63 percent—own their homes, about one-third expect having to make major modifications to accommodate their aging needs, AARP says.

Because of changing attitudes related to affordability, accessibility, and mobility, the survey finds many adults age 50 and older are willing to consider alternatives such as home-sharing (32 percent), building an accessory dwelling unit (31 percent), or residing in communities that provide services to enable aging in place (56 percent).

For example, the Jefferson, a 55-and-older condominium in Arlington, Va., offers older adults a unique option as they age in place: the ability to own their unit plus independent living, skilled nursing, and continuing care. High-end amenities, numerous activities, a maintenance-free lifestyle, and quick access to the cultural highlights of Washington, D.C., add to the community’s appeal.

Residents have the option to purchase their home without any buy-in fees beyond the price of the unit, the only senior community in the area with this distinction, notes Executive Director Juli Swanson.

“All of our competitors are either a continuing-care retirement community or a life-care community. That’s just a very different structure than what we have here with the condo,” explains Swanson, who has worked at the Jefferson for the past eight years. “At all those other places, you don’t get to own your home. Here at the Jefferson, you do. That’s one of the biggest selling points, after location.”

Making itself a community where older adults can live long term is something that the Jefferson has made a priority for its residents, who feel that the frequent socialization is one of the main aspects that allows them to feel at home.

“You never feel lonely here. It’s just so wonderful when you sit down to eat with different people, and they tell you their life story,” says 84-year-old retired nurse Julia Jeffries.

And Therese “Terri” Rae, a 75-year-old retired psychiatric nurse who has lived at the Jefferson for the past two years, perfectly captures what it’s like to live in the community: “We have independence, and if we want company, we’ve got it. And that’s the best thing.”

The post Aging America: How older adults hope to age in place appeared first on Ungated: Community Associations Institute Blog.

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BiggerPockets Podcast 347: Using Multifamily Syndication to Reach 5,000 Units with Mark and Tamiel Kenney

On today’s show, a married couple who scaled to 5,000 units together!

Brandon and David interview Mark and Tamiel Kenney, a husband and wife team who buy large apartment complexes through the power of syndication. This mighty couple shares some great insight into how to find the right partner, how to set expectations with your agent (or team member) in the beginning, and how coming up with strict criteria helped them overcome their fear of getting started.

You’ll love their advice on what they learned in the first 12 months to help them land their first deal, how they split profits with investors, and which are the most important fundamentals for any multifamily investor to learn. You DO NOT want to miss their advice on following up after meeting with brokers or investors. Plus, they reveal the most common trait successful syndicators share.

Mark and Tamiel go on to share how they’ve struggled with—and overcome—the difficulties of balancing a demanding business while still carving out valuable family time.

Don’t miss this episode, and subscribe to the BiggerPockets Real Estate Podcast so you won’t miss the next!

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Be ready: How to prepare your community for a natural disaster

Hurricane Dorian devastated the northwestern Bahamas and has unleashed heavy rain, strong winds, storm surge, and tornadoes as it has tracked along the East Coast. While the Atlantic hurricane season officially runs from June to November, the peak of the season is now—from mid-August to late October.

With September being National Preparedness Month, Americans can take action to promote emergency planning and disaster relief in the event of hurricanes, wildfires, and floods, which have caused an estimated $414.4 billion in damage across the U.S. from 2013 to 2018, according to data from the National Oceanic and Atmospheric Administration. As natural disasters become more frequent and destructive, it’s important that community associations adopt a comprehensive plan to prepare, respond, and recover from these extreme weather events.

Community association residents and leaders also should be aware that the Federal Emergency Management Agency does NOT reimburse community associations that remove debris from private roads. CAI strongly encourages board members and managers to review the guidelines for removing debris.

In addition, here are some guidelines to prepare your community against a natural disaster.

Hurricanes

  • Gather supplies in an emergency kit to last at least three days, including food, water, flashlights, batteries, cash, first aid supplies, and medications. Also gather supplies for pets, if any, and store important documents.
  • Bring inside loose, lightweight objects that could become projectiles in high winds (e.g., patio furniture, garbage cans) and anchor objects that would be unsafe to bring inside (e.g., propane tanks).
  • Take refuge in a designated storm shelter or in a secure room inside your home that is windowless and not at risk of flooding.
  • Cover windows with wooden panels or storm shutters.
  • Document any property damage with photographs. Contact your insurance company for assistance.

Floods

  • Know the types of flood risks in your area by visiting the Federal Emergency Management Agency’s Flood Map Service Center.
  • Purchase or renew a flood insurance policy through the National Flood Insurance Program. Homeowner’s insurance policies do not cover flooding.
  • Keep important documents in a waterproof container. Create password-protected digital copies.
  • Protect your property. Move valuables to higher levels. Declutter drains and gutters. Install check valves and consider a sump pump with a battery.
  • If trapped in your home, go to its highest level. Do not climb into a closed attic, as you may become trapped by rising floodwater. Go on the roof only if necessary and signal for help.

Wildfires

  • Fireproof your home by covering outdoor vents, removing dry leaf and tree debris, mowing and watering lawns regularly, and using fire-resistant materials to make repairs or replacements.
  • Keep fuel sources at least 100 feet away from your home.
  • Keep important documents in a fireproof safe and make digital copies.
  • Designate a room that can be closed off from outside air. Close all doors and windows. Set up a portable air cleaner to keep indoor pollution levels low when smoky conditions exist.
  • Review insurance coverage to make sure it is enough to replace your property. Document damage with photographs.

For tips on how to make an emergency plan fit for your community association and prepare for other types of disasters, visit CAI’s Community Disaster Preparedness & Relief page and Ready.gov.

The post Be ready: How to prepare your community for a natural disaster appeared first on Ungated: Community Associations Institute Blog.

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BiggerPockets Podcast 346: 34 Units & Six-Figure Wholesale Fees (at 20 Years Old!) with Josiah Pott

Attention: this is a must-listen show! Whatever you’re doing, stop and download today’s episode!

Brandon and David sit down with Josiah Pott, a real estate investor/wholesaler who is doing six-figure deals at 20 years old, using nothing but old fashioned cold calling. Josiah shares just how he puts houses under contract and wholesales them for big profits—then converts that money into cash-flowing rental property.

You will love hearing how he found his first mentor (and got paid $20K to do so), why he dropped out of college to invest in real estate, and what his five tools are for finding off-market property owner info. You’ll also love hearing how the power of compound interest changed his life, how he uses a calendar to manage his lead follow-up, and how he handles questions regarding his young age.

Josiah has done several deals where he’s made well over six figures and will tell you exactly how he did so.

Don’t miss out on this game-changing info. Download this show today!

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Digital Marketing: Social Media

The RRC Digital Marketing: Social Media certification is for real estate professionals who want to develop expertise with social media resources and the sites that are an essential part of today’s digital marketing mix, whether you are promoting your business or the properties you represent.
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BiggerPockets Podcast 345: “Vivid Visions” and 90-Day Sprints—Brandon’s Approach to Mobile Home Park Investing (and Life!)

Today, Brandon Turner’s on the other side of the microphone.

J and Carol Scott, co-hosts of the BiggerPockets Business Podcast, recently interviewed him… and the result was so epic we wanted to share it here, too!

In this episode, Brandon reveals why he chose mobile home park investing (hint: NOT necessarily because it’s the “best” investment) and describes the method his team used to get hundreds of pads under contract in just a few months. (It’s an approach YOU can apply using the new BiggerPockets Intention Journal.)

But this show is about much more than real estate. It’s about avoiding that all-too-common pitfall where you set an ambitious goal only to see it buried under an avalanche of more urgent (but less important) responsibilities.

Brandon shares the tools he’s used to break that cycle and how he’s applied them to other challenges—like moving to Hawaii, improving his personal health, and spending more meaningful time with his family.

You’ll hear how Brandon’s first business venture failed, how he got into real estate investing for cash flow, and how he discovered a way to bring BIG value to BiggerPockets as Employee #2, despite not owning a computer the year before! Oh, and you’ll learn the meaning of “M.I.N.S.” and the role they play in moving your business forward (ESPECIALLY when the going gets tough). 

Brandon also shares why writing out a “vivid vision” of your future might be the best thing you can do to move yourself closer to your ideal life; why he asks, “What would be awesome?” and then works backwards; and why he and his wife organize a goal-setting retreat together on the same day every year.

This is an amazing episode that lays out a battle plan for getting WAY more done while setting aside quality time for friends, family, and fun. 

Download this one, and subscribe using your favorite podcast app so you won’t miss any future shows!