Marketing @ Senior Living

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  • Hi everybody,

    at a quick question to ask for members. I just had to move a relative into A senior living center. Speaking with the administrators, they let me know that there is a long waiting list and that people are desperate to get their loved ones into assisted living. I’m going to begin to market to the residence resident’s of this center as well as approach the administration about solving the real estate problems for these families where they might have a loved one on the waiting list who can’t move in until their house sells and try to provide a solution for unfortunate circumstances. Does anyone have experience marketing to senior living centers in this way? Any ideas or concerns would be much appreciated.
    Many thanks,

    HI Jeff

    When I lived in Texas, I visited assisted living centers and nursing homes. There is always a sales staff there. I’d give my card or a brochure to the sales staff and tell them that if they have a client who needs to sell their house before they can move in, I may be interested in buying the house and I’d pay a $500 referral fee for any houses I buy because of their referral. I bought several homes this way.

    There is a shortage of assisted living in many areas. You might consider opening a residential assisted living home. This is a large house in a residential area that is converted to assisted living. You’d rent each room and get a LOT of rent.


    the referral fee is smart (and obvious!) but I wasn’t thinking about that so I am glad you suggested it.

    I am renovating a property right now that has commercial space in the back and I am definitely thinking about doing the assisted living route with the commercial space in question. I I need to listen better to the seminar that you recorded on the subject. My one concern with doing the assisted living is how do you control the labor costs? I’ve had two friends and multi family tell me that they attempted assisted living but the labor costs were a problem (one was a mobile home park; the other apartments).

    I receive your email the day about the Panama conference, do everything I can to get down there. I worked in Costa Rica and Panama about 15 years ago and fell in love with the place that then. Boquete is one of the most beautiful places I’ve ever been to and I remember thinking then what a great real estate investment area it would be but talked myself out of it since I didn’t have any money (this was long before I’d ever heard of Pete Fortunato, Jack Miller or CFD!).

    Thanks for the reply and the great website. Best bang for the buck in ages.

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