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RPP - Senior Living vs. Multifamily with Daniel Morris

RPP - Senior Living vs. Multifamily with Daniel Morris

Dylan Marma and Mike Taravella interview Daniel Morris, Principal of Senior Housing & Healthcare of Plains Commercial, to discuss the niche of Senior Housing.

  • Senior Housing is treated as a business that has real estate
  • Trend for more specialized senior housing
    • More intensive care
    • Less intensive care - active lifestyle/independent living
  • Operators of Senior Housing are generally specialized in 1 to 2 types of care max
  • Payroll is the number one expense in operations of Senior Living
  • Cap rates increase the more care is offered
  • Preferable Markets:
    • Secondary & Tertiary Markets
      • Less Competition for Labor
    • Primary Markets
      • Being close to young families
  • Expert Pro Tip: Partner with a vetted management company to learn systems and best practices

 

Contact Information:

Phone Number: (405) 445-5799

Email: daniel.morris@plainscre.com

 

Attend Multifamily Mastery 3 and use the discount code “RPFAM” for 20% off!

 

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