Who here owns ALF’s? I’m considering going in on a partnership in purchasing a couple (one of the partners is a licensed Assisted Living manager locally). The cashflow looks phenomenal, and the upside is huge (room for expansion). With the baby boomer generation aging by the day, these look very attractive. Any luck with these?
I can speak only from a financing standpoint, but would tend to agree with you about these property types; they are a growing concern of increasing popularity and cash flow nicely too.
If demographics has anything to say about this property type, these properties will be in demand for the forseeable future and IMHO, those entering now stand to benefit the greatest (before the entire boomer generation reaches retirement).
Assisted living facilties and the use of reverse mortgages (for those that want to retire at home) will continue to grow in popularity and acceptance; early adaptors in this trend stand to profit the most.
i have quite a bit of experience in ALF’s. they can be very lucrative, but very time consuming like any other business. if you have to run them yourself you are essentially “on call” 24/7 as your “business” ie, taking care of people is a 24/7 job. if you get a good business manager for the financials and a licensed nurse w/some business know-how it will be a total cash cow for you.
good luck to you and let me know if you have anymore questions.