129: How to acquire assisted living facility with Prashant Kumar
Prashant is the founder and managing partner of My Realty Gains. Prashant acquired his first senior assisted living facility last year. His goal is to acquire and hold stable, income producing multifamily apartment complexes in emerging US markets with long term capital appreciation through superior asset management. He applies his 25+ years of experience in corporate America to analyzing Income & Expenses, calculating Net Operating Income (NOI) and calculating Purchase Price based on NOI and Market Cap Rate. He also has experience in sourcing multifamily properties, analyzing deals, negotiating, contracts, and closing the deal. He runs meetup in NY and runs online masterminds with couple of groups.
\n(00:01-04:31) Opening Segment
\n- Introduction of the host into the show
\n- Alpesh introduces the guest of the show, PrashantÂ
\n- Prashant shares something interesting about himself and explains what kind of business he does
\n(03:02 - 28:19) How to acquire assisted living facility
\n-Prashant's first real estate investment
\n-Why and how Prashant decided to invest in ALF
\n-Process of acquiring your first ALF
\n-Prashant SBA experience
\n-How Prashant found his first ALF
\n-IS SBA a recourse Loan?
\n-Now that he knows more, How would Prashant change his first acquisition?
\n-Markets that Prashant prefer for ALF
\n-How Prashant makes his deals work
\n-How Prashant structures the partnership
\n-Prashant's due diligence process
\n-Pitfalls to avoid while acquiring ALF
\n-Prashant shares a horror story in the industry
\n-How Prashant fights back against someone bad mouthing him
\n(28:19 - 28:46) Break
\n(28:46 - 28:57) Second Segment
\n- Welcoming listeners and guest back to the show
\n(27:14 - 33:43) Fire Round
\n- Will Prashant change the business strategy after Coronavirus?
\n\u2013 Prashant\u2019s favorite real estate, finance, or other related books
\n\u2013 Tool or website Prashant recommends
\n\u2013 Prashant\u2019s advice to beginner investors
\n\u2013 How does Prashant give back?
\n\u2013 How can Wealth Matters Podcast listeners reach out to Prashant?
\n(33:43 - 34:20) Closing Segment
\nIf you want to learn more about the discussion, you can watch the podcast on Wealth Matter\u2019s YouTube channel and you can reach out to Alpesh using this link
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\nIG: @wealthmatters.ig
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