assisted living facilities
for sale in your local area
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Entrepreneurs commonly ask
where are the assisted living facilities for
sale and how much? If this is you
or someone you know then you surely know what I am speaking
Investing in one of
these babies is pure profit if you can get one that has built a
senior living following and
has branded itself amongst the community.
A skilled nursing facility tops
all out of the list of livinged housing.
When looking for an investment like this you
want to make sure it has plenty of activities and the best
You want to provide long-term care and
residential care. Now my life and my schedule is hectic so I
know I couldn't do star rehab or facilitate concierge type
However, if I were to invest in a
communitiesing type business it would be small and remain
independent from the huge networks.
I'm a tech so
computers from Dell would flow through my administration area
and the employees would be a close nit of highly trained LPN's
My brother who resides in Seattle Washington would
have the options of running consumer affairs and
voicing any new concepts for the future of the
So now that I have made that plain, what are some
of the do's and don'ts of buying one?
Well you must remain focused and submit a letter of
intent and go on as if the sale is complete.
Look into everything about the facility and make
sure the occupancy count stays pretty level. Check
with management and relations to make sure
referrals are consistent.
Go into the buying process as if you were the
rightful owner of the health care building.
Like anything dealing with business you must
select a great team of advisors and staff members. Doing this
little step can save you thousands of dollars and very costly
mishaps in development.
or retain legal counsel before completing any transactions
because the AARP and NCBDC are hound dogs.
The lawyer can benefit you when it comes to
purchase agreements, non-complete etc...etc. Most
entrepreneurs make the big mistake in believing that
corporate attorneys can handle this. No...No...No. They
must know M&A's like the back of there hand.
Since we are speaking of an undisclosed
amount of money your CPA will be extremely important too.
You will want to be structured for tax advantages later on.
Definitely if you are going to house paralyzed veterans or
deal with occupational therapy.
Remember the goal here is stable income. With
that in mind don't make any real solid commitments prior to the
closing of the sale.
Some sellers will try to
throw new financing on you that has lockout provisions and
breakage fees. Unless you are paying cash I assume you will be
providing your own financing and will have to pay off this
In that case you want to protect yourself from
not being able to assume a loan that prohibits "lockout
provisions" before a certain month or day. They may allow you
to pay it all off after but those breakage fees will still
I can go on and on about the requirements and
things you need to look out for but I am going to leave
some on the table for you. I would rather write about
how to start an assisted living facility in florida. At
least doing this I can write more freely and misspell words
like faciltyer and assisteder. Just