The Best Ever CRE Show JF 3988: $13M Turnarounds, Staff Culture, and 20%+ Margins in Assisted Living ft. Justin Burke
Aug 5, 2025
Justin Burke, Managing Partner at VitaCare Living, shares insights from his remarkable journey transitioning from college football coaching to overseeing a 24-property senior care operation. He discusses the booming demand for assisted living due to the aging baby boomer demographic and the unique economic aspects of this investment class. Justin emphasizes the significance of strong company culture and leadership in attracting talent and achieving profitability, while also addressing the operational challenges of managing assisted living properties.
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Early Deal Turnaround Story
- Justin Burke shared his experience buying two 12-bed converted single-family homes for $1.5 million.
- They faced leadership challenges expanding into new markets, causing financial losses before improving operations and margins.
Culture Is Key to Success
- Build a strong culture by aligning your team behind a clear purpose that everyone can easily repeat.
- Treat your staff well to make your company a great place where great people want to work.
Hire and Measure Character
- Define key character attributes in hiring like ownership, resourcefulness, and humility.
- Grade staff quarterly on these attributes to maintain high culture and remove mediocrity.