The Benefits Of Investing In Senior Living with Megan Young

In this episode, Megan Young shares her journey into real estate investing, starting with a Fourplex and eventually transitioning into assisted living facilities. She explains the benefits of investing in assisted living, including higher returns and a growing demand due to the aging population. Megan emphasizes the importance of vetting sponsors and choosing those with experience and a strong track record. She also discusses the strategy behind investing in assisted living, which involves improving operations and marketing to increase profits.

Listen To The Podcast Here 

Watch The Episode Here 

What’s Covered In This Episode

• In this episode we’ll cover:
  • Assisted living facilities offer higher returns and a growing demand due to the aging population.
  • Vetting sponsors and choosing those with experience and a strong track record is crucial for successful investments.
  • The strategy in assisted living involves improving operations and marketing to increase profits.
  • Investing in assisted living provides stability and potential for appreciation.
  • Investors should diversify their portfolios and consider other asset classes, such as private equity, for higher returns.

Connect with Megan: 

https://www.linkedin.com/in/meganyoungceo

Resources 

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Read The Transcript Here

Trevor Oldham (00:02.221)
Hey everyone, welcome back to the REI Marketing Secrets podcast. Today on the show we have Megan Young and Megan for our audience out there who’s learning about yourself for the very first time. Do you mind just going over a little bit about your real estate background and how you got started?

Megan Young (00:16.782)
Yeah, absolutely. So I got started pretty much how I think a lot of people start, which is kind of not wanting to do my typical nine to five job anymore. I was in sales and I was doing business to business sales. I was selling eyewear to doctors and I knew I just didn’t want to necessarily have a boss forever. So I started to kind of, I don’t know, ask around and somehow I don’t even remember who referred me, but.

I somehow read the book, Rich Dead Poor Dad, which I think so many investors have started out that way, so it’s very cliche. But nonetheless, that did change my mindset and it just totally changed my life as far as I knew that I wanted to be an investor. I knew I wanted to get out of the employee box and get into the investor box. So from there, I started listening to Bigger Pockets that was like,

pretty much my Bible for the next year that I listened to as I drove for five hours a day doing outside sales. And I kind of learned everything about as much as I could. And then from there, I luckily decided to make a move. And so the first purchase that I made was a Fourplex in Cleveland. And I chose that market because it was a low -barrett entry. I was able to buy a Fourplex for 140 ,000. So it wasn’t gonna break the bank.

I was able to finance it for a really good loan amount. And I actually still have that four flex to this day. It is cash flowing like absolutely crazy. I have like a $600 mortgage and I make $3 ,000 on it. So it was a really awesome first investment, which also made me want to invest more. So from there, I continued to do small multifamily. And after that, I just decided I really wanted to scale even bigger. So I started Googling.

how to buy larger apartments. And from there, I got into real estate syndication, which started in multifamily apartments. So I went to a conference and from there, I learned a lot about that. At the end of the conference, just like most of these real estate conferences, they sell you their mastermind. I, of course, purchased it. Even though I was very under qualified to purchase it, I did. And so I invested $25 ,000.

Megan Young (02:33.419)
which was steep at the time, to basically have three weeks with these other top investors that luckily were huge syndicators, owned thousands of units. And so I was able to really learn the most I could possibly learn in that year and really build really strong relationships with very cool, awesome, experienced operators. And after that, I of course invested passively because I wanted to know what it was to…

be an LP and go through that process. So I chose my favorite sponsor and I invested in one of their deals in Tennessee, which I’m still currently in. And after that, I decided, okay, I’m ready to be part of the team and join a co -GP. And right after that happened, it was kind of when the interest rates like started to double like overnight. And unfortunately, a lot of multifamily deals didn’t.

quite pencil out as well. So the returns weren’t as great and they’re a bit harder to, I don’t want to say sell, but present to investors where it really was like appealing for them to put their money in for five years. So through that, I just started to really pivot and try to look for other asset classes in real estate that would provide better returns. And I came across assisted living facilities for seniors.

And I was introduced to an awesome group through another investor that I really liked and admired. And so I joined that team and I started to help them find investors. And I also invested in that as well because I always invest along with my investors. And I just have been sold ever since because the returns are amazing. It’s such a safe, awesome asset class. And so now I’m…

I mean, I’m definitely a fan and I’ll continue to invest in that asset class and I’m starting to learn about some more as well, but assisted living is definitely one that I favor right now.

Trevor Oldham (04:37.581)
Yeah, I like that story really started from from the beginning in that four plaques and then gradually making your way up through and then obviously the assisted living right now. Are you doing anything in the multifamily space or is it more just looking at that assisted living space just given everything’s sort of gone on in the multifamily space where if you’re if it’s the same amount of work to go and get these assisted living facilities, but you’re making more bang for your buck, you know, does it more make more sense for you to go in that direction? Just curious what you know, whether you’re just focusing on the assisted living or if you’re.

Megan Young (05:02.888)
Yeah.

Trevor Oldham (05:05.933)
you know, still dabbling a little bit into the multifamily space.

Megan Young (05:08.679)
Yeah, so for my day job, I am a commercial real estate agent. So I see a lot of deals. So I do have different partners that we still will buy multifamily, but they’re definitely a niche and we do them as joint ventures. So they’re a bit smaller deals and they just really make sense for us. And so we do some stuff with like affordable housing, LITECH, Section 8. So it depends.

But from a limited partner standpoint, as far as if I were a passive investor, I would never have my passive investor invest in most multifamily deals with the returns that most of them give at the moment. Just like because ALF assisted living facilities provide such a higher return and they also provide the cash on cash right up front.

So the most unique thing about assisted living facilities is that they’re a business and real estate. So you’re not just investing into the real estate, you are still getting all of the benefits that real estate provides as far as your bonus depreciation that you’re getting for your tax benefits, the forced depreciation of the asset when you sell it, but you’re also buying a business. So when we acquire these, we acquire them pretty much stabilized. So we’re able to give investors their cash on cash preferred return.

between a 7 and 8 % quarter one after we close. And that’s like pretty unheard of. So as a cash investor, which I am, this was huge for me because I want that cash flow upfront. I don’t want to wait five years to get my money back for them to double my money in five years because I want that cash on cash throughout the entire investment period because then I can take that money and I can go invest in other things like an oil and gas fund or private equity fund. That’s a shorter term, right?

So I think the goal is really like diversification and I like to really work with investors and figure out kind of what their goals are, how much money they have to invest with. And then I sort of help them place their money in different asset classes that like makes sense, that can just give them the most yield in the amount of time that makes sense for them.

Trevor Oldham (07:23.789)
And like where you mentioned getting that 78 % Q1 after you invest, I know I’ve been in a multifamily deal for like, gosh, almost two years now. I’m just getting the 5 % monthly and it’s like, it’s fine. I mean, I’m happy I’m getting something where the distributions haven’t been paused and there hasn’t been a capital call, but I’m like, I’d much rather be getting 78 %

Megan Young (07:39.94)
Right. Which is actually pretty lucky these days because I have like so many friends that, you know, when it was great, it was great and everyone was investing in it. But then obviously, you know, the operators that got in trouble for doing a little bit too high LTV and basing all their projections on these crazy rent increases. And then now they’re bridged that’s coming to fruition and you know, they have to extend the sale or they have to do a capital call and they haven’t got any cash distributions, you know.

Trevor Oldham (07:44.429)
Yeah.

Megan Young (08:09.411)
and they’ll be lucky if they get their money out. So it’s, I mean, it has become like a little bit scarier environment for a limited partner. And I think, you know, it was just all fun and games before that happened. And now I, when I talk to investors, they’re a lot, you know, more inquisitive of, you know, what’s the exit strategy? What if this happens? What if this happens? Because I think before people didn’t ask questions, they were like, everything’s great. Like you can’t lose. You know what I mean?

Trevor Oldham (08:37.293)
Yeah, exactly. I don’t know how much I looked before like, I mean, I look at the numbers, but I don’t know how much I was fixed on like, what the financing was, whether it was a fixed rate, variable rate, we’re now like, you know, I’m definitely checking it out.

Megan Young (08:45.89)
Yeah, yeah. No, you just look at the returns. You just look at the returns as an investor. And you’re like, great, you’re giving me these returns. Perfect. But like, you know, what happens if that doesn’t work out? And I also think it’s important to invest with sponsors that have like a larger portfolio to fall back on, because there’s some syndicators I work with that they got into the same trouble. But because they had a larger portfolio, they were able to start a debt fund, they were able to

to cross -collaterize and still able to give the investors back their money, right? So if you’re investing with someone that like that’s their only deal and that’s what all your money’s in, like a little riskier. So.

Trevor Oldham (09:31.117)
the ads, I would say that as well where investing with someone for the very first time could definitely be, could definitely be a lot of risk. I know for me, I invested in triple net lease fund, which definitely different than multifamily. And I think that only done a handful of deals, but that one’s been good from a communication standpoint where I get to access them right away. But sometimes I’m like, if I was doing a more aggressive, more aggressive play, like a multifamily heavy value ad deal, are they going to know how to manage the property? Are they going to have the right property management team?

Megan Young (09:42.017)
Yeah. Yeah.

Trevor Oldham (09:59.118)
in place for that triple net lease. I mean, then it dates a commercial corporate grade a tenants. I mean, it’s auto zone dollar general, I feel pretty confident that it has the built in rent increases, it’d be pretty hard for me to lose money on the deal. I mean, it would be the tenant leaving and we just never find another tenant. That’s that’s where it’s based.

Megan Young (10:05.888)
Yeah, right.

Megan Young (10:15.584)
Right. I mean, and there’s risk, there is risk in every investment. Let’s be real. There’s risk in the stock market, which everyone has their entire 401k in and that could collapse any second. So it’s like, I think every investor knows there’s going to be an element of risk. It’s just mitigating that risk and diversifying, right? Like don’t be an investor that like, which I know a lot of them, like their entire portfolios and multifamily and they’re all in Texas. I’m like, seriously? Like.

I don’t get it, but that’s just me. Like I would rather like if I’m in multifamily, like I’m going to choose a different, I’m going to choose some different markets and I’m going to choose, you know, different asset classes within real estate. And then I’m also going to choose some private equity stuff because it’s a little bit shorter term, a little bit higher returns, a little bit riskier. But like, if you again, research and do the right operators, then you’re fine. And I feel like with the fact that I am like a huge networker, I go to like 10 conferences a year.

I’m in a lot of masterminds. My goal is to really get to know people on like a personal level. The sponsors that I work with and the teams that I’m on, I know them really well and I know their values and morals and that the most important thing for them is, you know, returning capital investors because that’s how they all stay in business. And so I, you know, feel strongly about the people that I work with and I vet. So I’m comfortable enough to help my investors invest with those sponsors and I also invest with them.

and I invest my family with them. So like if I’m investing myself in my family and I’m like, I’m, you know, I’m all on board with them. So I feel like that’s important too. There’s a million people that raise capital. It’s, it’s kind of insane on LinkedIn. I’m like, my God, like, is this everyone’s like job now? What is going on? It just got like so trendy almost that it’s kind of like hard to choose in a way. So I would just say investors really need to.

you know, like and trust the person that they’re talking to as far as like, you know, the, that’s introducing them to the sponsorship team that they’re a co GP on. but I would also say to like, do your due diligence, look at the track record of the sponsors, make sure that they are investing as well in it. because if they’re not, then they’re not as invested. So why would you invest your money too? You know what I mean? So I just feel like there’s, I’m very strict on how I invest and.

Megan Young (12:40.829)
I give the same standards or I mean, I would expect them to have the same standards for themselves just to like avoid anything. Cause it’s like your reputation too. So if I tell an investor to invest in something and it fails, that’s my reputation, like, which is huge to me. That’s all you have, right?

Trevor Oldham (13:01.965)
Yeah, I can’t agree more with that. And I like where you mentioned the part of just like vetting the sponsor, checking them out, seeing how everything’s going. Because at the end of the day, where can stock market, I could go buy a stock and I could sell tomorrow and get my capital back as long as it didn’t go down to zero or real estate. It’s more of your liquid investment where you’re putting in that 50, 100 K and it could be in there for five to seven years. So if something that the deal goes wrong, you want to make sure that this person can take care of it, that they can do a good job with that. But

with that said, are there any like red flags that you look out for when you’re talking to these different sponsors? Like one for me as an example is like how they communicate. Like if I ask them a question based on their underwriting and they take two weeks to get back to me, well, I’m like, well, I’m not going to invest my money with you if I haven’t even invested cash with you and you’re taking forever to get back to me. Or if I just feel like the IR person is a knowledgeable, even though the person running the company is so that’s the person that they’re presenting out to me. So there’s different red flags that I look for.

Megan Young (13:34.041)
Yeah. yeah. Mm -hmm.

Megan Young (13:40.989)
yeah, yeah no. No. Yeah.

Megan Young (13:50.461)
Yeah. Yeah.

Trevor Oldham (13:56.365)
and sponsors on my, but I’m curious if there’s anything that you’ve picked up over the, over the years where you’re like, eh, maybe I’m not going to have any of my clients or any of my, you know, people investing money with this particular sponsor, just based on, you know, what I’m feeling about them.

Megan Young (14:10.653)
For sure. No, there’s a lot for me because like I said, I’m just like super strict and crazy. So number one, I have to like know them personally. Like I have to like actually have, you know, seen the properties, gone out to the properties, know how they work. They have to communicate really well. And the emails that go out to the investors have to actually be…

like knowledgeable and basically state everything, like no hiding anything. So the team I work with, they’re amazing. They essentially will go through every single thing that went on. Assisted living is a little different than a lot of other investments. So like last month we had 12 people that died. Like that was just what happened. Like super random, very high, doesn’t usually happen, but like 12 people passed away. And that’s like just what happens in assisted living. So they’re like, okay, it’s okay. We have a wait list. So we’re gonna be able to fill these up pretty quickly, but.

Nonetheless, like they need to say the good, the bad, the ugly, not just like everything’s going great. Bye. So I feel like just like detailed analysis, like what were the projections for this month? Where are we at? What was the total NOI? You know, do we have any capex? Like what exactly is going on? Right. Just super detailed. And then for me, I, like I said, I do like the track record. I want them to have some experience. I want them to have a portfolio that they can fall back on. I don’t want them just to own one property and this is their first syndication. Like I’m not.

I don’t want to be there for your mistakes. I’ll just go with people that know what they’re doing. And then people that are just expanding and growing, that they can show that, hey, the last investment we did, these were our projections and we’re way ahead. I would much rather have someone under promise and over deliver all day long than give these crazy projections and then they don’t meet them at all. Then it’s like, then the investor is disappointed from the start and you’re not winning anyone over for the future. So they’ll.

The last assisted living facility that I did with this group, they’re called Arrows Capital, we’re like way ahead of projections and all the investors are so happy. This was a year ago. So we’re scaling and growing because we’re doing so well. So we’re under contract for two more facilities to essentially grow from the first one because they’re 20 minutes apart. And we already have all the operations and management and everything ready to go.

Megan Young (16:29.949)
And so I’m having a lot of repeat investors because they’re like, this is amazing. I invested a hundred thousand dollars and I’m making 800 bucks a month. Like that’s amazing. And that is just the start and they continue to increase. So the cash on cash over the five year term will still be 10 to 14 % on average. So, I mean, those are incredible returns. The investors are very happy. And when investors are happy, they want to not only refer you people, but they want to repeat invest. So it just makes your life easier as well.

and you know, you get a good reputation from it. So that’s who I choose. If I was gonna do multifamily, again, from a standpoint of joining a co -GP, I would probably only choose people that are vertically integrated, meaning they have their own management, they have their own construction team, so they’re still able to get pretty decent returns. And I know a few that still provide a preff equity, which for me, I have to have a preff equity. I want my cash on cash return.

throughout the investment, I’m not waiting five years for me. Now, if I was investing with a self -directed IRA or a 401k, that doesn’t matter because you’re getting the money later anyways. So those type of investors, they don’t necessarily need the preff return, right? But my cash investors do. So that’s another set metric that I would say if someone’s doing out a 401k or IRA, then you’re just looking for essentially the equity multiple in the IRR, right? Because you’re just like, how much upside can I have in five years? So…

and that’s kind of different looking at them too, but I still feel like assisted living facilities have the highest returns during the investment and on the upside. So they still kind of win, but some multifamily, you never know. You can’t say all, all the deals are different. So I would never say I wouldn’t. Every deal’s different, so I’d have to look at it.

Trevor Oldham (18:19.277)
Yeah, more certainly. And curious about like this assisted living, like, what’s the sort of strategy there? I’m thinking like, you know, like multifamily, you come in and just like more of like a value add when it comes to like, assisted living, is it more ground up development? Is it more just taking over operations that maybe they just haven’t been doing a good job? I think of like self storage facility, there’s so many mom and pop owners where they haven’t raised rents where I would imagine they haven’t raised. I don’t know the exact terminology in senior living, but say the room rates, they haven’t increased those but curious like what that strategy is there.

Megan Young (18:43.709)
Yeah, yeah. No, it’s, yeah. Yeah, I mean, it’s kind of similar except for like, think of it more as like, if you were a private equity company, and you were going into an acquire a business, typically, they would acquire it based on their knowing that they can increase operations, marketing, etc, to increase profits. So the same exact thing with assisted living facilities. So we typically will still target the mom and pops. And,

Most of them are struggling because they don’t know how to market properly. They don’t know how to get more private pay people in there which pay more. They don’t know how to get the right referrals from the hospitals and other ways that we work with the insurance pay or public pay. And they also, some of them are still like doing charts on pen and paper. So we would be able to go in and digitize everything and create just more efficiencies throughout the whole facility to increase the NOI.

So there’s a lot of management and operation stuff. Usually it’s not a ton of physical value add because the cool thing about us is that living facilities is like, they don’t want the brand new stuff. They’re a baby boomer generation. They like the old wood. They like the antique stuff. So they actually don’t like the modern stuff. It doesn’t make them feel as comfortable. So I thought that was super interesting when I was touring the facilities. I’m like, we got.

carpet and like this like old wood and like it’s all nice and clean, but it’s old. It’s like super old. And they’re like, no, they like this. They feel, they get anxiety with like too new, too modern. And so we like to keep it how they’re comfortable and how they, you know, grew up. And I’m like, that’s just so interesting, but it made a lot of sense. And it’s also great from an investor standpoint that you’re not having to go in and get granite countertops and upgrade all everything. Like, nope, it just stays. It’s like.

You just keep it classic and that’s what they like.

Trevor Oldham (20:38.445)
Yeah, it’s honestly what I thought in my mind is going in there and upgrading the unit similar to like what you do for a multifamily deal. But I mean, that seems to make sense though, that they would want to go like old school and keep it the way that it is when it does come to like these assisted living facilities. Is there like certain markets you choose? Whether like certain states? How do you go about like finding the you know, or is it more like across the entire US? Just curious like what that sort of strategy looks like.

Megan Young (20:44.381)
Yeah, not at all. It’s funny.

Megan Young (21:04.593)
Yeah, I know. So the team that I work with, we only focus on East Wisconsin area, so like near Green Bay, and all the facilities that we have are within three hours. And that’s all that we’ll be acquiring just so that we can use the same management employees, etc. and just kind of expand. And we’re really growing a brand there so that we can just extend that brand and continue to get more residents based on how awesome the brand is and that people.

know it and they want to send their parents there because they know it’s an A -class facility with five -star reviews. We really put a lot of pride in the nurses and employees that we have. We typically will pay hire to retain them. That’s one of the biggest problems in a lot of these assisted living facilities is the employees and the staff and trying to get qualified, nice people that will stay and treat the residents well. So that’s one thing that…

we really like focus on is having our employees that are really well trained, that want to be there, that are, you know, that they’re happy to be there and they’re being well paid and they have great benefits. And so that part is also very important. And we also self manage. So we’re not dealing with a third party management that’s just like hiring these temps to go in that, you know, do crazy things. So that’s another thing to look for is,

third party management in assisted livings can be, I mean, just like with everything, can be a little sketchy because at the end of the day, that management company, like they’re another number. They don’t kind of care about your property like you would. So that’s why I like the vertically integrated sponsors because it’s like they are managing it. They are overseeing it. So they’re going to have like a lot more care and it’s going to go a lot smoother. So the investment is going to be a lot more stable and safe.

Trevor Oldham (22:58.445)
Is there a certain hold period that you have when you’re going out and buying these properties? Is it like five to seven years? And then with that, is there a certain timeframe where, I don’t know if it’s a refinance or when someone could expect a return on principal or get some sort of return on principal back above and beyond, say, the 8 % that they’re getting in a single month? Is it more at the end of the sale? Is it halfway through? Just curious. Or I imagine it’s probably more deal by deal basis, but what’s the, I guess the sort of average metric.

Megan Young (23:24.621)
Yeah, every deal is different. However, most are going to be structured and projections and performance are going to be done on a five -year term. With assisted living facilities, it’s a little bit different with the debt. So we do a transition bridge loan into a HUD. So the first year, we are paying that higher percent of a bridge loan because it’s short -term and it’s interest only. However, we work with lenders that are very specific into…

transitioning that loan into a HUD product, which is another reason why I love this sector is because we get to go into a HUD at usually like six and a half percent and it’s for like a fixed 30 years or 35 years or something crazy. So then the returns are obviously going to go up. So for the first year is usually going to be that prep return. And then, you know, once we approach year two, year three, those returns are going to continue to go up and.

Like I said, the last one it was 10 to 14 % cash on cash throughout the investment, but that was just very conservatively underwritten. So those numbers can go up. And then obviously upon sale is when the bulk is given with the forced appreciation and everything else from holding it up.

Trevor Oldham (24:39.341)
Yeah, no, it sounds like a really nice investment. But let’s say,

Megan Young (24:42.316)
Yeah, that’s what I mean. Like you can’t beat them. That’s what’s so hard. I mean, unless you’re doing like private equity, which I’m starting to get into too, because private equity, I mean, you can get like 16 to 30 % returns and they’re absolutely incredible. So again, it’s like, I really like to find the best sponsors and people that, you know, own these private equity funds that I trust, that I put my money in first. I test them. I see how they communicate. I, you know, find out their background, their track record, like,

how many companies that they have worked with and flipped and what their fund looks like and their returns. And then after that is when I’ll put it into something that I’ll put my investors into. So I always bet everything first, but I’m definitely getting into the private equity sector, gas and oil is another one that are awesome just to do alongside with these real estate ones because they’re a little bit higher returns, like even more so. But if I’m doing just like strictly real estate, then…

Usually I’ll choose the assisted living. For passive, and I’m talking passive. For active, I’m like, you know, every deal is different. Like every single deal is different. I’ll do any deal if it makes sense, right? But I’m saying for passive investors, I haven’t found a multifamily that can beat my assisted living returns.

Trevor Oldham (25:43.149)
Yeah, like that. Yeah, like you mentioned, like… Yeah.

Trevor Oldham (26:01.549)
Yeah, and I agree with that. Even though even like when I’m investing in like the triple at least like I’m getting like 8 % of the money there, but there’s not a ton of appreciation on the upside. It’s more just it’s pretty similar. There’s not going to be a lot of appreciation on the deal where it’s like the nice cash flow, but where it sounds like the assisted living you’re going to get a better once you go out and sell the property a few years down the line like with my triple and at least probably hypothetically would probably double my money over seven to eight years, which is fine. That’s I know it’s a lot safer of investment. It sounds like the assisted living.

you might get that 2X equity over five or six years, maybe even sooner, depending on how the deal flows out.

Megan Young (26:35.913)
Yeah, maybe sooner, yeah. Like if we get an offer that makes sense year three or four, then we’ll sell and it’ll still most likely be like a 2 .3 equity multiple, like at a minimum.

Trevor Oldham (26:49.357)
Yeah, and that’s, and that’s Ronald, like you mentioned, getting that seven to 8 % in the beginning, you know, in the first couple of months that you’re in the deal. And then obviously you can go up from there over time. I just really liked the asset class. And I think not, it’s almost like, I don’t think too many people have sort of like looked into it as much. It’s almost like everyone’s in multifamily or here. It’s like 90 % of the people I talked to, I feel like are multifamily where it’s like, you have these other almost like gold mines of asset classes outside of multifamily that people haven’t really.

Megan Young (27:07.432)
yeah.

Megan Young (27:14.344)
Yeah.

Trevor Oldham (27:16.909)
I think it’s just people understand I feel like multifamily just from the standpoint it’s apartments where they may not know as much about the assisted living where it presents are like a really good opportunity.

Megan Young (27:21.8)
Yeah.

Megan Young (27:26.632)
For sure. And like, not only that, we didn’t even talk about the demand factor in ALFs, which is like also crazy. There’s actually going to be like a shortage of them. So I have like a couple of stats because I always forget them. But essentially one in four Americans over 65 will be going into an ALF by 2040. So we’re going to be short 1 million units by 2040 for seniors. So there’s like this huge demand for it.

10 ,000 baby boomers will retire daily by 2030. So, I mean, it’s really like the biggest need also for housing. So with that, when there’s obviously, you know, just normal supply and demand, if there’s a higher demand, then guess what happens? The rent goes up because there’s not enough of them. So the industry in senior living, so not just assisted living, but like independent senior living, assisted living, memory care, and also nursing.

that the industry total is $96 .6 billion right now. By 2030, it’s going to be $140 .8 billion. That’s crazy. So those are also the statistics to back up the demand of them. That makes it more stable for me as well. I mean, at multifamily, you definitely have your markets that you’re going to need. It’s always going to be a renter’s market because there’s not affordable housing there. And I totally get it. But there’s still way more.

Trevor Oldham (28:34.221)
wow.

Megan Young (28:55.558)
family, then there is assisted living, and the biggest generation that we’re going to have in the next 10 years is baby boomers. So it’s kind of nice to invest in that, right? Be ahead of it.

Trevor Oldham (29:08.717)
Yeah, exactly. And let’s say someone’s like listening to the show today and they’re like, wow, like, this really sounds good. Like I want to chat with Megan, I want to invest with their company. What does that like communications from a communication standpoint look like after someone has invested with you and just keeping them up to date on all the updates that are going on with their investment?

Megan Young (29:26.085)
Yeah, absolutely. So firstly, like I’m like a very like face to face person. I want to like get to know my investors. I want to have a relationship with them. Like so I typically will set up an investment call, figure out what their goals are, figure out everything they’re looking for. And then at that point, I’ll fit them with the best investment for them. And then after that, you know, I give them my cell phone number, like whatever they need. And then every quarter we have those.

emails that go out that will be very detailed about the investment. But yeah, I keep a very like open door policy, email, text, whatever. I’m like, I’m very personal with my investors and I’ll say I have very good relationships with them.

Trevor Oldham (30:11.501)
Yeah, that’s awesome. And really the last question of the day I have is if someone is interested in working with you and learning more about you and your company, where should they go to?

Megan Young (30:20.964)
I’ll say I’m pretty much on LinkedIn for the most part. So I can give you my link for LinkedIn. But my company is called Nova Sky Capital. I named it after my daughter because I’m definitely like a family oriented person. And I’m very, you know, my goal and reason for doing this is to really have the freedom to be with my family more, to have generational wealth and to help other people have the same. So…

you know, that’s where my values lie and I can be found on there and pretty much everything as far as they can go there and download my free ebook, which is on how to invest in assisted living as a passive investor. And that really gives like a very detailed outline of everything about the industry, the statistics, why to invest in it, how they work, how they make money. So they can go on LinkedIn and download that on the front of my page.

And I can also give you the link for it too, that they can just click and download it.

Trevor Oldham (31:22.509)
That’s perfect. I’ll make sure to include that in the show notes of today’s episode and Megan, thanks so much for coming on to the show today.

Megan Young (31:28.61)
Yeah, thank you so much for having me.