As the population of elderly persons in this country is ever increasing, so too is the need for housing to accommodate this portion of the population. This is one reason why if I acquired $150,000 cash to be used specifically for a distressed real estate purchase, I would open up an Assisted Living Home. In the state of Arizona an Assisted Living Home is defined as: “a facility that provides resident rooms to ten or fewer residents.”
Upon receiving $150,000 cash, I will strategically go about purchasing a single family home in an up-scale neighborhood, preferably with five bedrooms. Following the closing of the sale transaction, I will proceed with obtaining the proper city zoning and state licensing permits to open and accommodate
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When these companies know of a good care home that provides patients with optimal care, they will continue to refer patients to them. Therefore, if I owned and operated a facility that is well known for great patient care, my home would have a good reputation in the business and have no problems staying full of residents. Good word travels fast! As my major of study in college is healthcare, and being a very sensitive and kind person, I would thrive on providing residents in my care-home with high quality health care; hence anticipate always being full to capacity with patients. This would allow for a great return on my investment by providing a healthy monthly income. In addition, if I ever wanted to cut back on the amount of work that I had to do, I could always choose to reduce the number of patients I accommodate in my home. The number of patients I house at any given time is up to me, the property owner. Not only would owning an adult care home be a very satisfying and rewarding line of work for me, it also provides a variety of investment options.
Investing in an Assisted Living Home offers a few different investment scenarios. The home owner can lease the property out to another individual or corporation who wants to run this type of business, or commonly the homeowner chooses to manage the business themselves. Homeowners can reside in the home as well. No college education is required to