Senior living is a topic that’s been covered on the Passion for Real Estate Investments podcasts before, but we’ve never dived into the variety of opportunities within the senior living niche. The senior living niche has evolved from “nursing home” to communities with community chefs and places that look more like Disneyland!
Many people ignore senior living communities because they still assume senior living is “nursing homes” or “facilities” instead of the amazing transformations that have happened in all areas of senior living. Investors who are considering this asset class can get involved in an active or passive level. They have a variety of options for investing in different types of properties (as well as groups of properties). They also have an opportunity to make a powerful lasting impact on a person’s life.
At the same time, work in senior living, like other types of real estate, has its risks and challenges. Like every type of real estate, location matters in real estate for senior living. You also have to worry about stabilizing your cash flow. As a managing director of Tuscan Gardens, Sean has firsthand knowledge of those issues. He shared with Fuquan how his business moved through and how his business managed to capitalize on these problems when other senior living communities were failing.
If you are an investor who has heard about real estate in the senior living space but wanted to know more about what it takes to get involved and maintain a successful, high-quality community (and get tips on other strategies you might want to consider), this episode will have everything you need to get started.
Highlights from the Interview
- Why real estate in the senior living niche?
- The demographic trends that make investing early in the senior market a good opportunity
- How to be an active or passive investor in the senior living space
- What to look for in a good senior living community
- Handling moves and transitions with senior residents the right way
- How senior living has evolved from nursing homes to beautiful communities with amenities
- Risks of investing in the senior living space
- Finding a good location for a senior living investment
- How companies like Tuscan Gardens balance cash flow and vacancies
About Sean Casterline
Sean is a recognized expert by his peers in the field of wealth management and alternative investments. He is Founder and President of Delta Capital Management, LLC, President of Delta Advisory Group, Inc. and Partner of Delta Realty Advisors, Inc. In these positions, Sean specializes in the areas of asset management and alternative real estate investments for clients spanning a wide array of industries. In recent years, he has worked to develop investment and financial alternatives utilizing the broadest range of financing structures to maximize yields and provide maximum flexibility for investors.
Sean began his professional career with the Delta Companies as an asset manager in 1992. Over the next six years he progressed to the position of Senior Portfolio Manager. In 1998 he was offered and accepted an executive position with Wealth Management Financial Group, where he managed client assets in excess of $200 million. Additionally during that time, he co-hosted a syndicated financial radio show that was broadcast nationwide, including in major metropolitan markets such as New York, San Francisco and Dallas.
Sean earned his Bachelor’s degree in Finance and Master’s degree in Business Administration from the University of Florida and he holds the prestigious Chartered Financial Analyst (CFA) designation. Additionally, Sean has previously served as a certified NASD securities arbitrator.
He is an active member of the University of Florida Alumni Association, Young Presidents Organization (YPO), the CFA Institute and has previously served as director of the CFA Orlando Society. He has also been honored to serve with such charitable organizations such as Fellowship of Christian Athletes, Big Brothers Big Sisters and Habitat for Humanity.
Sean and his wife, Amy have two sons.
To learn more about Sean, connect with him via his website.