Residential Assisted Living: How to Vet Sponsors with Loe Hornbuckle

In this episode, Loe Hornbuckle talks about vetting sponsors in the residential assisted living and memory care space. He shares about how the focus is on providing quality care for the residents and how to find the folks who are taking care of the residents.

[00:01 – 07:26] Defining Residential Assisted Living

• Loe shares his background and how he got into the residential assisted living space 
• Assisted living means someone needs help with activities of daily living 
• Memory care is a mental health component of assisted living 
• Being considered as a boutique assisted living and memory care community

[07:27 – 21:51] A Look at Stewardship Finding and Finding Balance

• Smaller facilities offer advantages such as more personal and intimate experience
• Investors should focus on being a good steward of the residents and families
• Caregivers should put humans above profit 
• A blend of capitalism and socialism is needed to avoid negative outcomes

[21:52 – 31:49]  Ethics and Profit in Assisted Living

•  Balancing the needs of residents, staff, and the business in order to find success
• Assisted living and memory care is a human resource business with a real estate component 
• Investors should look for operators who understand the needs of the staff
• Understanding the human resource side of assisted living is important

[31:50- 36:21] Closing Segment

• Quick break for our sponsors
  • The first step to growing your wealth is tracking your wealth, income spending and everything else about your finances, you can start tracking your wealth for free and get six free months of wealth advisor.  Learn more about Personal Capital at escapingwallstreet.com 
• What is your favourite book?
  • How to Stay Alive in the Woods by Bradford Angier
•  Loe’s indispensable tool  
  • Gallups Strengths Finder Test 
• What are you looking forward to in 2023?
  • Going to Europe

Connect with Loe:

Website: https://www.thesageoakcompanies.com/, https://goodhorncapital.com/

Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/

Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your own terms.

Join our Passive Investor Club for access to passive commercial real estate investment opportunities.

LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes          

Tweetable Quotes:

“So you’re creating a place where people are providing a very valuable service to people.” – Loe Hornbuckle