The BetterLife Podcast How to Invest in Assisted Living Homes | The Secret Behind Getting the MOST Cash Flow in Real Estate
Oct 25, 2024
Dr. Alex Schloe, a physician and investor in residential assisted living homes, shares unique insights on this lucrative real estate niche. He discusses the urgent demand for quality living spaces as the baby boomer population ages, highlighting a critical shortage of beds. The chat explores innovative investment strategies, including seller financing, and emphasizes the importance of community-oriented living. Dr. Schloe also addresses challenges in the field, such as finding reliable operators and the need for robust liability coverage.
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Early Nursing Home Experience
- Dr. Alex Schloe's first job was in a nursing home, exposing him to the realities of elder care.
- This experience sparked his interest in residential assisted living as an investment.
Demand and Shortcomings of Traditional Care
- The demand for assisted living is high, with a current shortage and projections of increasing need.
- Traditional nursing homes often lack personalized care, highlighting the appeal of smaller residential settings.
Ideal Assisted Living Home Features
- Prioritize single-story homes for accessibility or ensure two-story homes have elevators or stair chairs.
- Aim for approximately 300 square feet per resident, along with ample bedrooms and bathrooms.