Assisted Living Purchase

[Scott Royer]

I have worked in long-term care for over 20 years now as an Administrator , and now I am running a healthcare consulting business on the side.  Over the last few years, my wife and I have got into real estate investing.  All of these lines of "work" are a passion of mine.  Through the pandemic I helped out quite a few businesses in my area.  

One of the contacts I made during the pandemic told me that he would be willing to sell me his Assisted Living facility (which happens to be right across the street from where I live).  It has been a dream of mine since I got into this industry to own my own healthcare facility.  While my wife and I have a good amount of private capital, I would want to do this deal with someone else's money and my sweat equity.  The facility is underperforming and it should be a good opportunity to buy it while the price is "low" (asking $40 million, with a solar farm that is currently being installed) before the "Silver Tsunami" hits over the next few years.  

Where do I start to talk with someone about investing and what would make sense on paper for me to do this deal?  I have never done commercial investing and I am not sure how many off-market deals like this will come along.  Any help of recommendations would be appreciated.