Sourcing off market senior housing and skilled nursing deals
As the title suggests, I am looking to source off market deals, direct to the seller, for senior housing and skilled nursing facilities. Does anyone have any suggestions on how I would go about this?
[{"id": "hb3vufx", "text": "What are you looking to accomplish if you source one? Are you trying to list or are you the buyer? Occupied or vacant?", "replies": [{"id": "hb3w59y", "text": "I would be looking to buy it and would want occupied facilities.", "replies": [{"id": "hb3wbuu", "text": "Have you just looked at everything on the market and can't find anything?", "replies": [], "depth": 3}, {"id": "hb3wheu", "text": "The main issue I\u2019m running into is that everything that is publicly marketed is very overpriced and there is a lot of competition. My understanding is that by sourcing off market deals you can structure better deals overall. (I.e seller financing)", "replies": [{"id": "hb5bpkn", "text": "If sourcing off market deals was easy they\u2019d all effectively be on market deals. You\u2019re looking for price arbitrage which is going to require finding motivated sellers, possibly distressed properties, or deals otherwise considered \u201chairy\u201d for one reason or another. This in turn often requires relationships in the market. There\u2019s no set formula. \nMaybe just start identifying and reaching out to owners in your target market and taking their temperature for selling. Avoid large chains or properties owned by large portfolio owners or chains.", "replies": [{"id": "hb5c2ev", "text": "Right I agree with everything your saying. The question i guess is how to get the contact information of the sellers and to get them to sell.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hb412sj", "text": "Business only ? Or real estate too ? Both ?", "replies": [{"id": "hb45ho6", "text": "Preferably purchase the RE and then would partner on the operations.", "replies": [], "depth": 2}], "depth": 1}]