Anyone here an operator for an assisted-living home or sober living?

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Anyone here an operator for an assisted-living home or sober living?

Joshua Bautista
Specialist · San Diego · Member since 2023 · 98 posts · 20 votes

Does anyone here own any assisted living homes and student housing? I am trying to get more into it

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Charlie CameronBusiness Member
Investor · Niceville, FL · Member since 2017 · 451 posts · 366 votes
9mo

@Joshua Bautista

Hey Joshua! We have five homes we lease to assisted living operators, and are partners on multiple ground up developments with the operators. What questions do you have?

The RAL Room Assisted Living Mastermind
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  • Charlie CameronBusiness Member
    Investor · Niceville, FL · Member since 2017 · 451 posts · 366 votes
    9mo

    @Joshua Bautista

    Hey Joshua! We have five homes we lease to assisted living operators, and are partners on multiple ground up developments with the operators. What questions do you have?

    The RAL Room Assisted Living Mastermind
    WebsiteView Page
    1Reply
  • Stephanie KnightPro Member
    Member since 2024 · 13 posts · 9 votes
    9mo

    I have a current opportunity to rent a house to a company that places elderly and has 24-7 care givers that come into the home. I posted recently some questions, but had no responses.

    @Charlie Cameron  I've done some research on the forum and see a lot of info regarding zoning issues. How have you handled this in your portfolio? Is it as simple as calling the town and discussing if this is an option in a residential area? Interestingly, across the street, the town leases as building to a day care and adjacent to that is an older building that is senior living. So I think this is a real possibility. 

    I'm not sure how to vet the company. I am using rent redi to vet individuals currently. What are your suggestions on this. Also, what type of insurance have you had these companies carry?

    Thanks!

    @Charlie Cameronundefined

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    • Charlie CameronBusiness Member
      Investor · Niceville, FL · Member since 2017 · 451 posts · 366 votes
      9mo
      Quote from @Stephanie Knight:

      I have a current opportunity to rent a house to a company that places elderly and has 24-7 care givers that come into the home. I posted recently some questions, but had no responses.

      @Charlie Cameron  I've done some research on the forum and see a lot of info regarding zoning issues. How have you handled this in your portfolio? Is it as simple as calling the town and discussing if this is an option in a residential area? Interestingly, across the street, the town leases as building to a day care and adjacent to that is an older building that is senior living. So I think this is a real possibility. 

      I'm not sure how to vet the company. I am using rent redi to vet individuals currently. What are your suggestions on this. Also, what type of insurance have you had these companies carry?

      Thanks!

      @Charlie Cameronundefined

      Hey Stephanie! Yes, the best place to start is with the local planning/zoning department to see if your home can be used for that purpose and what permitting may be required and what resident count is allowed. Each state and even locality varies. Then as far as vetting the company, you need to understand their track record, financials, cash on hand, credit, etc. This should be structured as a commercial rather than residential lease but with a personal guarantee. 
      The RAL Room Assisted Living Mastermind
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  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    9mo

    We are looking into doing a sober living project so if you find anyone be interested to connect with them 

    7e investments53 Reviews
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  • Joe S.Pro Member
    Investor · San Antonio · Member since 2020 · 3k+ posts · 3k+ votes
    9mo

    Following….✅

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  • Stephanie KnightPro Member
    Member since 2024 · 13 posts · 9 votes
    9mo

    thanks Charlie!

    1Reply
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