Assisted living center

[deleted185747]

Has anyone started their own assisted living centers? It sounds like an ideal fit for a physiatrist who wants to make money on the side. I would rather send my folks there than some random person who does not have any medical knowledge. I am in the process of doing more research on this and would appreciate any input.

---

Members don't see this ad.

 

[RUOkie]

Most docs I know are not willing to put their entire carrer on the line for a real estate deal. If you are the developer, you have to own the entire loan. A center like that would have a construction cost of a few million dollars. Do you have 20% of that available in cash? I'm in practice for 15 yrs and I don't. I own 1% of a hospital, 5% of an MRI. Those were high risk enough that the hospital gave me an ulcer.

 

[PMR 4 MSK]

If you do it, set it up for the rich old folks. Make it luxury.

No one wants to put up their own cash to take care of mom or dad, they want the government to do it.

 

[shantster]

If you do it, set it up for the rich old folks. Make it luxury.

No one wants to put up their own cash to take care of mom or dad, they want the government to do it.

I don't understand how society has gone in that direction. In our family, the mother always has moved in with the children after the father died (since that's the order it occurred). I grew up with my grandmother in the house. My mom grew up with hers in the house. When my grandparents built their house, they built it with a bedroom and separate half bath in a different part of the house for her mother, which is now my grandma's room. Besides helping the parent out, she was able to help out with child care.

How has it changed that much that we don't continue to take care of our own family members?

 

[PMR 4 MSK]

I don't understand how society has gone in that direction. In our family, the mother always has moved in with the children after the father died (since that's the order it occurred). I grew up with my grandmother in the house. My mom grew up with hers in the house. When my grandparents built their house, they built it with a bedroom and separate half bath in a different part of the house for her mother, which is now my grandma's room. Besides helping the parent out, she was able to help out with child care.

How has it changed that much that we don't continue to take care of our own family members?

Entitlementiasis.

We've convinced the majority of the population that the government exists to take care of them and protect them from all the "bad" people out there - terrorists, rich people, etc. Don't save for retirement, we've got you covered. Don't worry about your healthcare, we've got you covered. Don't worry about taking out a 100% mortgage on an overpriced home, we've got you covered.

We now expect someone else to do everything for us.

Our current middle-aged (probably myself included) generation grew up under the construct that out careers define us. We now have a society dependent on two incomes to meet household expenses, but only because we want a large screen TV in every room and and annual vacation in the Bahamas.

If people were willing to sacrifice their wants for their parent's needs, we would see far lessor need for assisted living facilities.

 

[deleted185747]

Here's my guess:

husband and wife are working, have a few kids in grade school
husband's dad has a stroke, ends up needing min-assist / supervision.
what to do now?

You could send him to an assisted living or take him into your house and care for him yourself. If you don't make much money that would make sense. If you are making real money you would pay for something like a nice assisted living center.

What are you going to do when you get old? Eventually you will need some assistance or develop dementia? What is your plan and what do you think it will cost?

 

[MedicineMan99]

Let's say you are a physician who knows the owner of several assisted living facilities... how can doctors make money off of assisted living facilities? All of the residents have their own personal physicians.