Assisted Living Facilities for Sale
Long Term Care institutions can be bought privately
From small to large, finding an assisted living facility for
sale that is perfect for your budget and goals can be a challenge.
Defining exactly what type of environment you are hoping to create is the first step in purchasing a
pre-existing long term care home. Are you trying to provide care for the elderly? Are you more interested in
long term care for the developmentally disabled teenagers or adults?
Defining your vision will help clarify exactly what types of long term care institutions will fit into your budget,
it will also help define what your realtor should be bringing to your attention.
Going through a realtor is a personal choice. It is possible to purchase a long term care institution through a
private transaction, and naturally you will save money. Quite a bit considering that a purchase of this magnitude
is relatively pricey. However a realtor may be able to shorten your search time and bring you properties that you
are not able to find on your own. Whether you choose to go through a realtor or go about it privately depends on
There are also realtors that deal only in long term care institution sales. It is undetermined whether these
specialty realtors are able to provide better service or bring more quality properties to the table than an average
realtor without serving the specialty. The quality of the realtor will determine whether they can provide the
properties you are interested in or the properties which you can afford to invest in.
Most people approach the purchase of a long term care institution as an investment property. You are probably not
interested in running the establishment you purchase. However, if you are coming in with a good, solid business
plan and accurate basic fundamentals, you may very well want to serve your own interests better by having a hands
on approach throughout the entire process including staffing the establishment.
Don’t just assume that because you purchased a unit that is typically filled to capacity that everything will
remain status quo once the purchase has been finalized. The purchase of a company tends to lead to loss of
personnel. There will be a handful of employees who may make a transition at the time of sale to avoid the typical
hassles which can follow a sale. Regardless of your intentions, it is not uncommon for the sale of an institution
to bring about changes in policy, benefits, and of course personnel. Those who have the option to do so may take
this time to transition away from the institution.
Those who have the most choices available to them also tend to be the employees with the most, experience, skill,
and often the higher ranking positions. Directors and administrators are the most likely to leave and the most
influential on the success or failure of a long term care program. If it is vital to you that everything in
operation remain the same, approaching these individuals and letting them know that radical changes are not to
follow your purchase may lead to better quality staffing at the onset of exchange of ownership.
However, if you are purchasing a long term care residential program that is marginally
successful, you need to get some insider information and evaluate the program’s weaknesses and strengths.
Interview the residents and sit in on staff meeting. Review the activities thoroughly and evaluate the personnel
thoroughly. It is more effective if this can be done discreetly so that basic behaviors are unlikely to change.
Hiring an elderly individual to reside within a long term care institution that you are considering purchasing is
an effective and efficient way to navigate the program’s strengths and weaknesses and receive the most honest
evaluation. Some people consider this method to be sneaky or underhanded when in fact it is a basic business
principle that an evaluator really should be undetectable if the information obtained will have any chance of being
unbiased and uninfluenced. While speaking directly with residents will provide some insight into the daily life
they are living, many of the current residents are not there by choice and may filter their opinions in one way or
The purchase of a long term care institution is a huge commitment with the potential for huge losses or remarkable
gains. Care that is taken should be exceedingly meticulous and while it may be difficult to do so, allowing a
property to be bought out from under you is still a better decision that rushing into a purchase without a full and
The right property for your vision and your goals that fits into your budget will come along eventually. A purchase
such as this one may take quite a bit of time before the perfect property pops up. Patience is a requirement and
jumping the inevitable gun too early has the potential to result in financial disaster. Financial disaster will
affect more than just you.
assisted living facilities for sale in