Sick of the up and down of stock investing or retirement funds losses consider a steady 8% yearly interest payment on a monthly basis and principal back in five years.
The Carriage House ALF is an existing assisted living facility whose owners are selling both the property and business. It has an established business including long term dedicated employees, which eliminates the starting from scratch motif.
The state-regulated property caters to seniors who need ongoing help with personal care and daily activities, yet also fully wish to retain their independence. Since these individuals do not need daily medical care at this point, assisted living can be an appropriate housing option. Carriage House provides as much autonomy as the resident is capable of. The facility offer 24-hour supervision and a variety of support services, with more privacy and space than many nursing homes, and usually at a lower cost. The Carriage House includes assistance with simple domestic tasks, ranging from housekeeping, laundry and meal preparation to assistance with bathing and dressing. Also,the facility provide services like transportation, assistance with medications, exercise and wellness programs, basic health status monitoring, help with locomotion, assistance with toilet use and nursing supervision or monitoring. Other services include temporary nursing care, minor foot care and, less commonly, hospice care and respite care or companion services.
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1. Death of borrower. Although lenders names will be put on home note at closing, the property/business will have to be sold to get total principal returned per will.
2. Natural causes - fire, hurricane, tornado, etc. Property/business will be insured. May result in down time but will rebuild.