Apartment and Assisted Living Trends
For investors who want to appeal to seniors with money, apartments, condos and assisted living facilities may be a good investment.
Many seniors look for second homes. They also will pay cash and be disinterested in remodeling. They will look for good value and comfort and be relatively unimpressed with glitz and glamour. They know they can buy it if they want it and may be willing to do a gut remodel if they can do it fast while they rent something temporary. Get here information about Hard Money Loans With A Foreclosure.
Wealthy seniors from around the world go to locations, often near the beach or the mountains with only one bag, getting off a plane with their medicine and nothing else. They buy everything they need for their stay, everything from clothing to furniture, after they get there. They will pay cash for most things including homes and stay for maybe ten years. When they leave they donate everything to charity.
They do have certain needs and wishes. Here’s a list.
- Hospital and medical care should be nearby. Most seniors need and want this kind of care.
- Restaurants and shopping should be close so they do not have to drive a lot. Some people eat out most of the time.
- Services and home health care should be available for people who need them.
- Things like shopping and housekeeping services are helpful, too.
- Grocery and drug delivery services may be necessary.
- Homes must have accessibility and one level living and/or elevator access.
- Bathrooms must be comfortable for people with handicaps.
- Residents will want things like clubs and activities to keep them as entertained and active as possible.
- Personal security and freedom from crime are essential. Gated neighborhoods and/or building security are important to them.
Most of these people want a comfortable lifestyle and they also want to have fun. Many of them are older, but not ill, some seniors being healthier and more active than many people who are much younger.
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They tend to be well educated, to have many hobbies and interests, and to spend whatever they want on themselves.
They are also thrifty in surprising ways and generally unresponsive to any hint of a hard sell, a detail that has brought many a developer to grief and disaster. People with money are a bit difficult to sell as they tend to RUN away from the old “today and today only” attitude and selling stance. Use it to your own peril.
They love good value in all purchases and will shop around to find what they want, even if it’s a yacht. They will also probably know what the market value of many purchases should be in items they want.
If you can give them what they want for a good price they will buy. The trick is in understanding what they want and expect. One last word about financing your venture. Your best options are to get an SBA loan. If you get turned down by the SBA, you can go the hard money route. This can get expensive but can get you a loan temporarily to clear hurdles such as Hard Money Loans With A Foreclosure. There are many more so don’t give up if you can’t get a conventional commercial loan.
Call Us @ 1-877-655-5625 or 1-828-689-4683 for Hard Money Loans With A Foreclosure.
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