All Forum Posts by: Tyler Rayman

Investment Info:

Other commercial investment investment.

Purchase price: $2,100,000
Cash invested: $450,000

Rock Creek Assisted Living is a business that we bought in conjunction with the two converted single-family homes that it operates out of. In total, we have 20 private beds (rooms) that we offer to both Medicaid-funded, as well as private pay, individuals. The specific niche that we cater to are adult males, 40-65 yrs old, that suffer from varying degrees of cognitive impairment. We have found that this is an under-served demographic, and one that results in very little resident/caregiver turnover.

What made you interested in investing in this type of deal?

The unique ability to offer higher returns to our investors, in addition to helping provide a safe, secure home and care to those that need it most.

How did you find this deal and how did you negotiate it?

Broker relations

How did you finance this deal?

Syndication

How did you add value to the deal?

We brought on a better-equipped management/administrative team that has allowed us to cut expenses, while simultaneously providing more support for staff.

Hi BP Community,

Most of my experience has been with syndicating larger apartment complexes, so I'm relatively new to the senior assisted living asset type. My team and I have identified a portfolio of senior assisted living properties/complexes that we're interested in.

I'm looking for advice specifically on financing this asset type, as opposed to a traditional apartment complex that would take a non-recourse loan. The listing agent thinks that attaining financing through a non-recourse loan might be challenging with senior living. 

Does anyone have any experience dealing with senior living investments that might be able to share their thoughts/story? In an ideal scenario we would be doing a syndication with a non-recourse loan, but I'm not sure if that's possible, or industry standard. Also; given that senior living facilities have a business attached to the property (unlike apartment complexes), do banks view the asset types differently?

Any advise, insight, or shared experience is greatly appreciated!

Cheers

Hi Kamlesh! I got into MF within the last or year so. The majority of my training was with REMentor. We joined their mentorship program as well, and it's worked out very well for us. Great network of people too. Message me if you'd like to know more. Good luck getting started!

Hey

@Tanner Morrill,

Great question! I'd recommend Dave Lindahl's book "Emerging Real Estate Markets"! We're also apart of his MFR course and investing network.. highly recommend

@Kiera Underwood Just saw your comment up there, and sent you a DM! I would love to chat about OKC..