Assisted Living Facility in South Louisiana

[Justin Guidry]

I've recently purchased a 15 unit building that was originally built to be an assisted living facility. The previous owner started renting out the units like apartments and that is how it is being ran today. Over the last couple months I've heard Gene Guarino and other guests talk about assisted living on multiple podcast which really got me interested in it. 

The property is a 15 unit, 15- 1 bed 1 bath units. Located in a rural town in South Louisiana. Each unit has it's own kitchen, living room, bedroom and bathroom. The main entrance has an office, multi purpose room, bathroom and coin-op laundry room. All units are interior so you have to walk through halls to get to the units. All units are individually metered.

The goal is not to actually operate the ALF. I would like to lease out to an assisted living operator. Before I actually begin to pursue an operator to lease, I would like to know if the building would be a good fit the way it is now. Being that it was built as an ALF, I will assume it is up to code. 

Main questions I have are what are the day to day duties of the caregiver? Are they there just in case someone needs them or do they actually check on and interact with the tenants multiple times a day? Do the tenants cook for themselves or does the operator have to supply all the meals? Maybe supplying all the meals is a perk to be able to charge more per bed? This building doesn't have a kitchen, but one could be added fairly easily. What is the best way to find ALF's that are actively looking for more space? Any other info on this subject would be greatly appreciated.

Thanks in advance for the help. Sorry if I didn't supply enough details as I'm still trying to educate myself on this. 

[Gene Guarino]

Hello Justin,

A 15 unit apartment is too small for a commercial ALF operator and its not a "home" for the Residential model.  It doesn't sound like a great fit for AL.  IT COULD be a good one for a Golden Girls model.  Senior friendly but not assisted living.  There is a lot to know of course.  I think I have already shared some resources with you so let me know if you would like to get some training before you take that leap into the unknown.

Gene