@Dan Murphy I just got sent a potential property in Wake Forest, NC just outside of Raleigh. It's just been re-zoned to allow for assisted living. It's 24,000 sq ft allowing up to 31 rooms. They want $2m for it which seems high, but it does look like a nice building. Let me know if you'd like to sync on it!

Below is a quick negotiation with an operator I had a week ago. I’m closing on this property 10/25/24. Purchase price: 400k Rehab 10k or so (almost turnkey. There’s a few things we’re doing to help him maximize bed count). $5,500 rent for 5 years. He handles all utilities and maintenance. He’s a great operator and pays his rent on time every month with our other property. So that makes 2 properties with this operator. Total purchase price for these 2 buildings: $685,000 Total rehab: 50k Combined rent: 11,500. All with no vacancy or maintenance. The deals are solid. However, it’s good for you all to see that we are more than a landlord. We make this VERY EASY for the operators. We take on a lot of risk upfront, in hopes they run a good house and we both win long term.

Once word gets out you’re an expert and you buy a lot of property, you hardly need to do the marketing. Agents love selling houses and making money. They know if the deal makes sense I’ll buy it. Finding the house is easy. Finding the operator is what makes the fortune. Below is a screenshot from a text I got an hour ago. Agent met an operator through a friend and explained my service. I’ll be meeting them soon to hopefully set up a deal.

1. Central CT— closes end of October Purchase price—275k Buildout—90k Lease—$5,500 Term—5 years 2. Western MA—closes 10/25/24 Purchase price—400k Buildout— less than 15k Lease $5,500 Term—5 years