Updated over 3 years ago on . Most recent reply
Room share versus assisted living
Hello all. Looking for everyone’s input on comparing 2 business models for my next investment property.
The question per the title; is a room share scenario better or worse business strategy than creating an assisted living scenario? Discuss!
Back story: I have other properties invested in a more passive way, cash flowing well at about 15% (annually) of what was invested several years ago, and inflation has raised property values a few hundred thousand over what purchase price. so I’m in a good position to to expand again.
My goal is to create a more scaleable side business with a splash of philanthropy. Something where the realestate is the foundation of the investment, but the service or effort on top allows dramatically more revenue.
Would love to hear from people in MN especially. Thanks!