In-Person Tour Setup: Essential Tips for Assisted Living Investors
Jan 09, 2025
Investing in an assisted living facility is a big decision, and an in-person tour is one of the most important steps in the process. While virtual tours are convenient, physically walking through the property gives you a deeper understanding of the facility's condition, atmosphere, and operations.
An in-person visit lets you observe the little details—like how the staff interacts with residents or whether there are maintenance issues—that can make or break your investment. In this guide, we’ll explore why in-person tours matter, what to look for, and how to set one up effectively.
Check out the video, too:
What Is an In-Person Tour?
An in-person tour is a hands-on walkthrough of a facility where you can:
- Inspect the property’s condition.
- Meet the staff and residents.
- Evaluate the overall atmosphere and operations.
This is your chance to experience the facility firsthand, ensuring it aligns with your investment goals and spotting potential red flags you may miss in photos or virtual tours.
Why Do an In-Person Tour?
Here are the key reasons to visit a facility in person:
- Meet the Team: Observe staff morale and professionalism. Are they friendly, welcoming, and engaged? Or do they seem overwhelmed and distant?
- Assess Resident Culture: Are residents active and engaged in the community, or do they appear withdrawn and unhappy?
- Check Facility Condition: Look for maintenance issues like leaks, HVAC problems, or fire safety concerns.
- Evaluate Location: Are there nearby grocery stores, parks, and hospitals? These amenities are essential for operations and marketing.
- Experience the Layout: See if shared spaces, resident rooms, and accessibility features meet the facility’s needs.
How to Set Up an In-Person Tour
- Work with Brokers or Agents
Coordinating tours for assisted living facilities may take longer than residential visits. Schedule your tour through the listing agent or broker, who can arrange a time convenient for the seller and staff. -
Maintain Confidentiality
Facility sales are often kept quiet to avoid alarming residents or staff. To protect confidentiality, some sellers may ask you to pose as a family member looking for care. Be prepared to adapt to this request. -
Set Aside Time for Questions
After the tour, request a private meeting or lunch with the seller. Use this time to ask about:
- Repair history.
- Current operating costs.
- Upcoming maintenance needs.
Key Areas to Focus On During the Tour
1. Facility Condition
Look for maintenance issues like:
- Leaks or water damage.
- Drafty windows.
- HVAC or plumbing problems.
- Check major appliances, including washers, dryers, and kitchen equipment, and ensure fire suppression systems meet local codes.
2. Staff and Resident Dynamics
Observe interactions between staff and residents. Does the environment feel warm and welcoming? Are residents treated with respect and kindness?
3. Layout and Accessibility
Examine the size and layout of rooms and shared spaces. Ensure the facility meets state accessibility regulations and that the flow of the property is practical for residents and staff.
4. Neighborhood and Surroundings
Take a drive around the neighborhood. Look for:
- Parks and recreational spaces.
- Nearby grocery stores.
- Access to medical facilities.
The facility’s location can be a key selling point for families, so make sure it’s in a convenient and appealing area.
5. Legal and Operational Details
- HOA Rules: Ask if there’s a homeowners’ association and how its rules affect the facility’s operations.
- Included Items: Confirm what furniture, fixtures, and equipment (FF&E) come with the sale.
Questions to Ask During or After the Tour
- What recent repairs or updates have been made?
- Are there any pending maintenance issues?
- What’s the condition of key systems like HVAC or fire safety equipment?
- Are there any HOA restrictions?
- What’s included in the sale (furniture, equipment, etc.)?
Tips for a Successful Tour
- Be Respectful: Remember, this is someone’s home. Interact with care to avoid unsettling residents.
- Take Notes: Write down observations about the property, staff, and location to review later.
- Ask Questions: Don’t hesitate to clarify anything unclear during the tour.
Should You Do Both a Virtual and In-Person Tour?
Yes! Start with a virtual tour for a quick overview. Once you’re serious about the property, schedule an in-person visit for a detailed evaluation. This two-step approach saves time while showing you’re thorough and committed.
Final Thoughts
An in-person tour is a crucial step in the assisted living investment process. It provides an up-close look at the property, helps you evaluate its condition and location, and allows you to observe the atmosphere firsthand. By preparing ahead, asking the right questions, and focusing on key areas during your visit, you’ll gather the insights needed to make a confident, informed decision.
Your journey to a successful assisted living investment starts with understanding the details—and nothing beats seeing them for yourself!
Download our Business Plan Checklist to ensure you have a comprehensive business plan in place for when you've found the perfect property. Additionally, apply to our Assisted Living Investing Mastermind program to learn more about building a business plan, finding the property, securing funding, obtaining a license, and scaling your business.
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