1031 Investment Ideas: Golden Girls, Asheville-Style...
AND NOW... a special focus on aging-in-place, or (as we refer to it) Aging in P A L A C E. That’s because aging in place is the preferred lifestyle among a majority of boomers—71% of adults ages 50 to 64, according to AARP data earlier this year.
Taking this information, 1031 investors in Asheville may find a lucrative placement of their money in “Golden Girls” type housing opportunities.
Could a 4,000 sq. ft. residential property zoned multi-family be a good 1031 investment?
Consider the idea of investments made in buildings zoned multi-family. One couple we know decided to purchase a B&B with the idea of turning it into and aging-in-P A L A C E property as part of their creative (un)retirement plan. Not only could these Asheville 1031 investors facilitate the well-known desires of older adults, but they could enable successful aging in place – an attractive personal option.
GOING ONE STEP FURTHER: 1031 investors also might organize a connection with Roommates4Boomers (link is below). This online outreach program has relationships with several aging in place organizations and a national network to share information- a creative way to work for occupancy by connecting compatible roommates for shared living options.
LIVING IN COMMUNITY: A plan for living in community makes sense for investors. Supporting the ability to age in place by coordinating access to affordable and volunteer-provided services for older adults is important. Access to transportation, health and wellness programs, as well as social and educational activities can help to make a multi-family 1031 investment property profitable.
1031 Investment Ideas: Golden Girls & Asheville-Style