Commercial building assisted living

7 Replies

I have the opportunity to purchase an assisted living facility in North Georgia just out side of chattanooga Tennessee. I have zero experience in the commercial and assisted living side of investing (single family only up to now). Without having any experience in this class where would you start if you were me? Anyone familiar with Georgia regulations willing to talk with me ?

The secret is out of the bag about assisted living facilities. With that being said it is a major undertaking. That’s why there’s not more people doing it even though it is being promoted by a handful of gurus that are trying to make side money in addition to their three or four assisted living facilities. There is a reason why the people that owned the assisted-living facilities are selling or offering to sell. It is an active business...

@Joe S.

Have you ever had an RAL ? Do you think most people that open shop previously worked in assisted living as an employee and thats how they get the experience needed to gain financing?

Originally posted by @Joseph Bass :

@Joe S.

Have you ever had an RAL ? Do you think most people that open shop previously worked in assisted living as an employee and thats how they get the experience needed to gain financing?

 I have not personally, but I have a good friend that did as well as another personal contract that  currently works in one. Best to you hope you knock it out of the park.   I was simply trying to point out is it is an active hands on business IMO, but I’m sure you already know that.

Regards 

Updated about 1 month ago

Good question. I’m not sure if most people that open one previously worked in one or not. My good friend that is opening one had never worked in one prior, He basically shut down his real estate business and focused hud RAL exclusively for a couple of years. He also sold a number of his personal investment properties to help with the endeavor. It appeared he also had some Private investors that loaned a little as well. If you have your mind set on opening one or buying one I’m sure with perseverance you’ll be able to crack the code. :-)

Hey Joseph- I am looking to buy that home as well lol give me a call! I have a plan that could be a win win for you! or we can discuss my 3 plans i have been considering!

770.778.0715!! I own 4 assisted living homes in north ga and i am selling 2 of them but to be 100% honest i was going to turn around and sell this one to an investor friend for $60k more than his asking price! (He is willing to do the $50k-100k rehab that it needs to be full and way more profitable!

I own/manage a few care homes in the blairsville, ellijay, jasper, trenton, and other areas. Let's connect! I have a plan to almost double that facilities profits! I'll send you my Proforma i worked up if you send me your email!