Has any assisted living investor had success finding facilities licensed for over 30+ residents in the area?
The market is saturated with 6 bed facilities. There are many smaller properties available, but nothing on the larger side. Our company is going to be purchasing a new assisted living facility by the end of the year but we have not found many properties for sale. It is normal to be sold off market in order to not disrupt the residents or the staff. We have worked with prominent brokers for assisted living facilities but we have not found any that are available. Has anyone had success prospecting for these 30+ unit RCFE properties and found off market deals?
Depends on where you're looking. In general, it all comes down to having the established relationships with the right folks in the geo area you're looking for such facilities: business owners associations, brokers, insurance agents, attorneys and etc.