Rental Property Investor · Raleigh, NC · Member since 2009 · 90 posts · 52 votes
I am looking to diversify my portfolio of single family homes and have found it challenging to find what I am looking for. I have refined my most sought after terms to the following:
10-12% annual return, paid quarterly
20%+ IRR
4 - 10-year exit
Equity position
$500k - $2M positions
Collateralized
Senior living seems to be a good fit.
Does anyone have other suggestions and contact information for those who may be able to help place an investment or investments?
That sounds like a good criteria and you definately have the right mindset in regards to diversification. However, there is one thing that you need to consider when approaching a senior living property. Most investors tend to overlook the higher propensity for lawsuits when owning special housing assets, especially senior living, for obvious reasons.
Excellent! As far as a good contact goes, not self promoting here, but Marcus and Millichap would be a good contact. Mainly because we specialize, and also our bread and butter is that $1M-$20M space. Specialty assets are a harder niche for investors, it is typically occupied by larger institutions but it's worth a crack at. What area are you looking?
It would be great if I could stay on the east coast but the criteria above are more important to me than geographics. If I feel secure in the investment, I'll go anywhere.