Investor · Baton Rouge, LA · Member since 2018 · 18 posts · 7 votes
To all passive investors
Demand for senior housing is growing fast as baby boomers age, and there aren’t enough quality care homes to meet it. We’re focused on buying residential assisted living homes through acquisition, and eventually renovation.
We’re looking for 10 to 16 bed memory care homes in the Southeast or Midwest in high income sub markets. Our team has the network and systems to run and grow these homes, and our goal is to scale to 10 to 30 properties. One home can cash flow around 10 to 15k a month.
We’re open to partnering with long-term equity investors who want to grow with us. We’re also open to mentoring individuals who want to learn about this asset class while helping us on the acquisition side.
I’ve been in commercial real estate for 8 years and have done deals in multifamily, mobile home parks, retail, and medical. Nothing compares to the returns we’re seeing in assisted living.
If this sounds interesting or you just want to connect, reach out.
Demand for senior housing is growing fast as baby boomers age, and there aren’t enough quality care homes to meet it. We’re focused on buying residential assisted living homes through acquisition, and eventually renovation.
We’re looking for 10 to 16 bed memory care homes in the Southeast or Midwest in high income sub markets. Our team has the network and systems to run and grow these homes, and our goal is to scale to 10 to 30 properties. One home can cash flow around 10 to 15k a month.
We’re open to partnering with long-term equity investors who want to grow with us. We’re also open to mentoring individuals who want to learn about this asset class while helping us on the acquisition side.
I’ve been in commercial real estate for 8 years and have done deals in multifamily, mobile home parks, retail, and medical. Nothing compares to the returns we’re seeing in assisted living.
If this sounds interesting or you just want to connect, reach out.
Are you concerned at all that this asset class will become saturated? If it's not already. Also, when the baby boomers pass, who is going to fill their spot? There isn't another generation with even close to this number of older folks to fill all these beds. I'm genuinely asking these questions because I'm not sure there's a good answer.
Realtor · NJ · Member since 2023 · 215 posts · 99 votes
1y
Hey Joshua, this has been and still is a long time goal to get into ALFs. I am a long term care pharmacist and I love real estate. Assisted Living is the holy matrimony of my passions.
Investor · Baton Rouge, LA · Member since 2018 · 18 posts · 7 votes
1y
That's a really fair question but according to the data, we aren't even close. The numbers show demand is still growing fast. According to CBRE, about 10,000 baby boomers turn 65 every day, and by 2030, one in five Americans will be over 65. That group will keep growing for decades. Until around 2050. We should all hopefully be retired by then!
Most people over 65 will need some kind of long term care (the data says about 70%), and people are living longer than ever. Even in places with a lot of new buildings, like Phoenix, occupancy rates are still strong.
Also, millennials are actually a bigger group than the boomers, so this need won’t go away anytime soon. Experts say we’ll need around a million more senior housing units by 2040.
One day oversaturation is probable as it happens in every asset class, i.e., short term rentals, self storage, etc. Anything that's trendy. We aren't even close to filling the gap in senior housing yet.