Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Commercial Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago on . Most recent reply

User Stats

46
Posts
32
Votes
Luke Moore
  • Midwest
32
Votes |
46
Posts

Cedar Falls Iowa Assisted Living

Luke Moore
  • Midwest
Posted

I am going to share my journey  building my 16 bedroom assisted living property in Iowa.  This will be my first time going into assisted living care. It took me a long time to get this deal done approximately 1.5 years. I gave up at times and just let it sit. Things started falling into place, then would fall apart. I have never had so many up and downs in business yet. It was pretty amazing. I finally told myself, It wouldn't fail because of the lack of my effort. I gave it hell, contacted every resource I had and I got it done.  So thankful for many many people.

I took the Residential assisted living academy course and joined their inner circle. I also worked with Rick Miller from Capital success. I can not say enough great things about Rick. My only experience is owning disability care homes. I provide housing for a local company that serves people with disabilities.

I however do not have experience operating.... I have a manager on board and a seasoned friend helping out. I feel the core of our team is great.

Currently, framing has begun. (not updated picture) I was extremely happy to get the slab poured. Weather this fall did not start out to great. It has managed to hang in there and allow us to get the concrete in. There are a few walls up now, should have some major progress this week. It will get closed in and temp heat will be set. This week the weather is in the 40's so we should be good!  

Most Popular Reply

User Stats

117
Posts
125
Votes
Sendhil Krishnan
  • Investor
  • Orange County, CA
125
Votes |
117
Posts
Sendhil Krishnan
  • Investor
  • Orange County, CA
Replied

@Luke Moore

Thank you Luke. I actually have taken Gene’s course which is how I also got started in the space. I’m certainly doing more research into whether a 20 bed facility is worth the effort, or continue with 10 beds and less. 

Will continue to follow your post as you post more. Thank you and cheers to continued success in the new years. 

Loading replies...