Residential assisted living is one of the hardest small properties to finance. DSCR lenders see an operating business and pass. Commercial desks see a $400,000 house and pass.

There are now 30-year fixed programs with no balloon built for 1-4 unit assisted living homes, with a 10-year interest-only option. Sizes run about $75,000 to $2,000,000, up to 75% LTV on purchases (70% for first-time investors), with no minimum credit score. Experienced operators in major metros can go larger at lower leverage. The home has to be operating already, not mid-conversion.

The full breakdown is on my website, via my profile. Investors can sign up there for new reports by email.

For RAL operators here: how did you finance your first home, and did the lender underwrite the real estate or the business?