Senior Housing

[Account Closed]

Has anyone ventured in the area of senior housing? I've seen a few deals but I noticed the rents are restricted and most of the mortgages are assumable. Has anyone done any of these deals? Anything to look out for?

[Candace Majedi]

@Karen Margrave and @Napoleon De Guzman The first step to licensing is passing the online orientation class (which is Component 1) through the Department of Social Services Community Care Licensing Division (CDSS). It took a lot of research and a phone call (gasp!) to figure that out. It costs $50. Its EXTREMELY helpful, and explains everything needed to start a RCFE facility. I'll send the URL when I get to my home computer. 

[Napoleon De Guzman]

@Candace Majedi Ahh so that is what you were referring to by Component 1. I completed that 2 months ago I think and yes it is very helpful indeed!

[Meena Balaji]

Hi All,

I'm a passive investor . I came across a SFH which is currently leased to the operator of a senior care facility, which operates a four-bed licensed facility in CA.

I'm new to this space and would like to understand my liabilities as an investor

Thanks in advance everyone!

[Candace Majedi]

If my memory serves me right, if it’s a 6 bed facility or less the owner of the property has to be the owner of the business. I just remember there being more involvement, I think at least needing to come by and be available for questions from family/patients every week. Also, I’m sure the person legally responsible for the facility signs and fills out LIC 200. 

[Karen Margrave]

@Candace Majedi @Napoleon De Guzman  @Tina Peters it's been awhile, so I thought I'd check in and see if you moved forward with senior living residence or ? 

In regard to what I have been checking into, Shasta County is considering expanding the zoning use on my property and it would include boarding homes. Hopefully they will be making a decision on that this month. 

[David VanSteenkiste]

@Dan Brewer I would be curious to learn more about investing capital in this space. I’m preparing to sell two industrial buildings and looking to re-invest it.

[Maninder Sanghera]

@Napoleon De Guzman

Hello Napoleon ,

I am looking for operator for my real estate investment as assissted living facility. Are you operating one , I am willing to connect

[Maninder Sanghera]

@Candace Majedi

Hello Candace ,

Are you operating an assisted living facility in California. If you are , would you like to grow your business and manage one more small SFR /assisted living if I provide real estate ? We can connect