Assisted Living Investing/Development

[Wade Coons]

Does anybody have any experience in development or acquisition of assisted living facilities? My doctor buddy was talking about it the other day but I’ve never heard of anyone doing this so I was curious to see if it’s even a thing?

Thanks in advance!

[Al Boettger]

Yes, I would say it is a thing.  There is the (1) real estate then there is the (2) assisted living business, so you can have investors who (1) own and then rent out the house-perhaps at twice the going market rent, and their renters (2) are the owners of the assisted living facility or residence (these terms are state specific, i.e. Texas they are facilities, in New Jersey residences, and other names in various other states).  BTW my response is that we are speaking of a "residential" (an actual residential home convert to assist seniors with their activities of daily living) assisted living facility/residence correct?