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May 31, 2022

Episode 17 - Senior Living - Insights into Enhancing and Optimizing Operations

Episode 17 - Senior Living - Insights into Enhancing and Optimizing Operations

In this episode of Purpose-Driven Wealth, your host Mo Bina is joined with Doug Fullaway to discuss why senior living real estate shouldn't be overlooked. Traditionally, businesses in senior assisted living tend to be on the stripped-down, basic side...

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Season 1
In this episode of Purpose-Driven Wealth, your host Mo Bina is joined with Doug Fullaway to discuss why senior living real estate shouldn't be overlooked. Traditionally, businesses in senior assisted living tend to be on the stripped-down, basic side of operations. And that has contributed to its slow pace. But does "slow pace" also pertain to revenue? Doug shares why few retail investors invest in senior living, why he allots time training managers, why he wrote the book Investing in Senior Living, and why senior living has not failed to grow despite its slow adoption of modernity.

In this episode you will learn:

  • Senior living operations rejected technology for so long
  • Why did Doug write the book, Investing in Senior Living?
  • Investing in multifamily vs. senior living real estate
  • The interesting sub-niches within the niche of senior living
  • In the world of senior living, labor has always been a heavy component
  • and so much more!

About Doug Fullaway:

 

Senior Living operational excellence has been the focus of my work since 2002. I was the COO and then the CEO of Vigilan, a leading supplier of software for assisted living, memory care, and independent living. Our customers included many of the leading companies like Emeritus, Brightview Senior Living, and Capital Senior Living.

 

Vigilan introduced subscription pricing to the senior living market and helped hundreds of senior living communities increase service revenues by $100/resident/month. While working for RealPage after Vigilan was acquired, I pushed for the use of call centers to increase tours by over 40% at Brookdale Senior Living and Holiday Retirement.

 

I also developed a business simulation tool that is still used to teach senior living at leading universities. I have been part of the team that acquired poorly running communities and turned them around. I sit on the Board of the Center for Health Administration and Aging Services Excellence (CHAASE) at the University of Wisconsin Eau Claire and the Board for the Veteran's Centers of Oregon. Senior Living is my passion!

 

Doug's book, Investing in Senior Living, can be found at Amazon.com.

 

Follow Doug Fullaway on:

 

Website:          https://fourteenplus.com/

 

Investing in Senior Living: Earning Superior Returns While Improving the Lives of Seniors, Book by Douglas Fullaway:

https://www.amazon.com/Investing-Senior-Living-Superior-Improving-ebook/dp/B01MSOWY5R

 

Connect with Mo Bina on:

 

Website:          https://www.high-risecapital.com/

Medium:          https://mobina.medium.com/

 

For more information on passive investing in commercial real estate, please check out our free eBook — More Doors, More Profits — by clicking here:
https://www.high-risecapital.com/resources-index