Don’t Say No Too Soon

Most of my posts are about senior care, real estate and business. But I hope you’ll indulge me for this post so that I can share a story that taught me a lesson about life and business. Sometimes the sights you see on vacation are more meaningful than you would expect. That was the case […]

Launching a New Website

It was long overdue. The website looked like a relic of days long ago. It was out of date, it wasn’t user friendly and it just looked tired. It had to go. One of the reasons that it took so long to change was that a new website seemed out of reach. Early estimates from […]

Build an Assisted Living Business, Not Just a Facility

I spoke at a conference recently on the topic of starting an assisted living facility. Some of the questions from the audience indicated that there were some who, in my humble opinion, were not asking the right questions. Questions included things like: “How important is location?” “How long will it take to fill a new […]

Using Quickbooks Online for Your Assisted Living Facility

I started doing the accounting for an assisted living facility owned by my parents back in 1988. Times have certainly changed. Over the years, I’ve only used two accounting programs: Peachtree and Quickbooks. I started using Peachtree in the day of floppy disks.  It was difficult to use, time consuming, and prone to error or […]

Three Steps To Take Before Starting Your Assisted Living Facility

I’m encouraged by the calls and emails I receive from people who want to start their own assisted living facility. There are many people who want to serve older adults and enjoy the benefits of owning their own business. They call me full of enthusiasm and questions.     Sometimes I’m a bit of a […]

SOLD: Former 45 Bed Skilled Nursing Facility in Northeast Wisconsin

  UPDATE:  This property was for sale but has been sold. This property was operated as a 45 bed skilled nursing facility until it recently closed. It is unlicensed today and must be converted to a new use – the property can not be used as a skilled nursing facility again.  But it may be […]

How to Fill Your Assisted Living Facility

There are few assisted living facilities that operate at 100% occupancy. I’ve visited hundreds and managers at nearly every one are looking for ways to fill beds. Someone recently asked me if I had any tips on trying to fill the open units in their small owner-operated assisted living facility. Like many others, this facility […]

In Wisconsin, Are Rental Weatherization Certificates Needed for Assisted Living Facilities?

In Wisconsin, the Department of Safety and Professional Services administers the certification of rental units for energy efficiency.  The certification helps ensure that rental properties meet applicable building codes, and (I suppose) that tenants of rental properties stay warm during the winter. Many real estate purchase agreements include language about rental weatherization.  This often raises […]

Why Invest in Senior Care Real Estate?

There are many reasons why investing in senior care real estate is a good idea.  But one of the best reasons is something nobody can deny.   Demographics and  the Senior Care Boom The world is becoming more crowded.  And older. But do you know how old? And how fast it’s growing? Here are some […]

Valuation of Adult Family Homes

I recently attended the Wisconsin Assisted Living Association’s Spring Conference and a person asked me – how do you determine the value of a 4 bed adult family home?  I began my answer as usual, describing the income approach to value and how to capitalize the net operating income to determine value.  But it quickly […]