Does anyone have any experience owning/operating SNFs. Not concerned at all with any of the licensing or regs.
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[{"id": "g7avgkr", "text": "Your abbreviations to actual words ratio is off the charts.", "replies": [{"id": "g7ax6iu", "text": "Totally imcomprehensible post. Thanks for making me feel slightly less stupid.", "replies": [], "depth": 2}, {"id": "g7ax770", "text": "Could someone here translate please?", "replies": [{"id": "g7ayv14", "text": "CCRC = continuing care retirement community\n\nIL = independent living\n\nAL = assisted living\n\nMC = memory care \n\nSNF = skilled nursing facility\n\nUW = underwriting\n\nRR = rent roll", "replies": [{"id": "g7b29gd", "text": "Thank you!", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "g7b3ph5", "text": "Modified. And I\u2019m doing this from my phone.", "replies": [], "depth": 2}], "depth": 1}, {"id": "g7b0kk9", "text": "It\u2019s really annoying to me when people try to talk like this. To me it begs, look I know what I\u2019m talking about because I can abbreviate. This is commercial real estate, we\u2019re not programming algorithms for google", "replies": [], "depth": 1}, {"id": "g7b4h12", "text": "Im working on a property tax appeal for a nursing home at the moment. I\u2019ll dm you some data.  Fwiw, SNF trade at higher caps than AL/IL because the business value that isnt the building or FFE is more risky", "replies": [], "depth": 1}, {"id": "g7ek7md", "text": "I\u2019m not exactly sure for SNFs, but I can give you some rules of thumb for dementia care, which is closest care type. They still operate differently than SNFs so use only for direction. \n\nNOI margins are typically 25% for stabilized with 50-100 beds. You\u2019ll have 1 Admin, 1 Office Manager, 1 Head Nurse, 1 Marketer and 1 facility person. Plus tons of RNs / Caregivers / Med Techs. That varies widely so I can\u2019t give you a number but probably close to 1 for every resident. In a CCRC I would imagine much of the staffing gets shared with other care levels on campus. \n\nIf you\u2019re going to be owner I would find a good manager to work with and they\u2019ll provide you with that information. You want someone who operates CCRCs specifically since they are nuanced assets. Look at some operators reits use to get a list. I think NHI has a lot of them. \n\nAnyway, your biggest question with a CCRC is going to be cash flow and liability risk for sale and repurchase of units. You didn\u2019t mention that so I assume you have that under control, but that\u2019s the most important part of underwriting a CCRC and it\u2019s not found in any other type of senior housing.", "replies": [], "depth": 1}]