Dad Takes on Role of Landlord to Provide Home for Son

By Dennis Fogelman

I had no idea of the medicines involved or the possibility of income provided by Social Security. My first concern was to find a place for him to live. When he had been at home his habits made it difficult for all of us to live together as a happy family. I told him that I was going to set up some sort of living situation for him in St. Louis, and when he came back home we would get him some help. The first priority was to find him a place to live; living at home was no longer an option. I inquired about housing with The Independence Center and other similar organizations.  Each of these had a one-year or more waiting list which made these options unworkable. I knew that my son would need some type of housing assistance for a long time and that paying rent was not going to help stabilize the situation much. I decided to purchase a four family building, put my son into one unit, and use the rent from the other three units to pay the mortgage and maintenance expenses. My wife and I found a building that was in our price range, on a nice street and it was in OK condition for an old building.  We bought the building, moved our son into the vacant unit, and became apartment owners. The building was in need of updating and renovation. I decided to pay for the renovation out of my salary and savings, but the rental income would pay for the mortgage and maintenance expenses. To date we have renovated three of the four units, replaced some of the furnaces, and upgraded the electrical and plumbing entrances for all of the units. I have spent many weekends and evenings working on the building, and I can see many more nights and weekends already committed before we get the building into a shape where it will be “maintenance free” for my son’s lifetime.  This project has not been without certain problems. There are  the normal tenant issues and there is still a considerable amount of time and money needed to “complete the project.” However, I have been able to get my son a nice place to live, and increase the property value without taking out a loan, other than the initial mortgage. Everything has cost more and taken more time than expected. If I had it to do over again, I would time the roof repair differently. We repaired the roof in the fall, then got hit with the worst ice storm I’d ever seen. The roof leaked and caused substantial damage to three of the units. However, I think that the overall project is pretty much on target. Yes, I would do it again.  I see this project as a possible model for other families to consider especially if they are able to work together to provide housing for several people who are in desperate need of a home.  This plan is not for everyone. People who are wealthier than I can set up a trust and let the have a child who probably will not be able to hold a steady job.  The outcome so far has been good. Our son considers his apartment as his home and is reluctant to spend the night somewhere else. He has not left town except for some family trips since he got a home of his own. He feels stable enough to remain on his medications and to almost be able to get by on what he receives from Social Security. The building has increased in value and has become an asset to the neighborhood. My son
is integrated into the community and enjoys life again.