JF3044: Demystifying the Allure of Family Offices ft. Arti Shah
The Best Ever CRE Show
00:00
Senior Housing - The Great Turnaround Story
Senior housing is one of the hardest businesses to get into, he says. What did you do that attributed to most of the turnaround success? First thing was just focusing on the actual financial piece of paper: what are my expenses? What is my revenue? What's controllable? What's not uncontrollable? Right? Every asset has fixed costs and variable costs. I can't change the fixed costs. But what I can do is focus on my variable costs. So that deals with staffing, food costs, and renegotiating my electricity rates, even the dumpster. It's everything to do from the nuts and the bolts.
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