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Forum
-> Household Management
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amother
Red
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Mon, Jan 29 2018, 9:15 pm
dh wants to invest in a nursing and rehab center. It is very small with very few beds and is far away. Are these centers/nursing homes profitable?? Around how much would he earn if he invests in this with 2 other friends??
Anyone who has experience with this, please reply. Thanks.
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amother
Violet
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Mon, Jan 29 2018, 9:18 pm
Did dh ask you to research profitability for him?
Do you not trust him to make this decision?
Do you keep separate finances or joint?
Who brings in the money?
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amother
Lime
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Mon, Jan 29 2018, 9:19 pm
You should discuss this with an accountant or financial
Planner. You didn’t offer enough info for anyone to offer an educated guess.
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amother
Puce
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Mon, Jan 29 2018, 9:27 pm
It depends on so many factors. Does he have nursing home experience? Will he be involved in the day-to-day operations? Is the facility running well or does it need to be rescued?
My DH owns a share in several nursing homes. Some are lucrative, others not so much. He's involved in the operations and spends a lot of time (and stress) on them. It's not usually easy money.
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amother
Azure
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Mon, Jan 29 2018, 9:37 pm
It's hard to make money from a standalone nursing home especially a small one. They're usually more successful when investors own a few and combine all the administrative offices like AP, AR, HR, payroll.
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Miri7
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Mon, Jan 29 2018, 9:52 pm
You’d need to look at their profit loss reports from the past 3 years or so. If you’re serious about investing they should provide that after you sign a confidential or no disclosure agreement.
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amother
Red
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Mon, Jan 29 2018, 9:57 pm
amother wrote: | It depends on so many factors. Does he have nursing home experience? Will he be involved in the day-to-day operations? Is the facility running well or does it need to be rescued?
My DH owns a share in several nursing homes. Some are lucrative, others not so much. He's involved in the operations and spends a lot of time (and stress) on them. It's not usually easy money. |
He will be overseeing it as a licensed administrator but he wont be there everyday bec it is a few hours away.
I thought it was " easy" money, compared to working many hours and hardly making ends meet. What I mean is even if he works very hard, would he get a nice salary"" "at the end of the day"?
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amother
Puce
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Mon, Jan 29 2018, 10:02 pm
amother wrote: | He will be overseeing it as a licensed administrator but he wont be there everyday bec it is a few hours away.
I thought it was " easy" money, compared to working many hours and hardly making ends meet. What I mean is even if he works very hard, would he get a nice salary"" "at the end of the day"? |
Not necessarily. Most of my DH's nursing homes are out of our state, and he travels a lot - more when they were working on the sale and had just taken over, but he still visits them frequently (probably once a month at least). He gets a salary for managing the facilities as well as payouts when they are profitable. It is definitely NOT easy money. And it takes a lot of mazal, as there are so many issues that can make a nursing home lose money or even shut down in the blink of an eye. Don't get me wrong, the extra money is very nice, but the work is significant and not every facility is profitable.
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amother
Sapphire
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Mon, Jan 29 2018, 10:05 pm
amother wrote: | Did dh ask you to research profitability for him?
Do you not trust him to make this decision?
Do you keep separate finances or joint?
Who brings in the money? |
Goodness. Is a wife not allowed to get involved in big money decisions?
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amother
Taupe
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Mon, Jan 29 2018, 10:25 pm
My husband is in the business and he told me of a scam that was actually targeted to frum men by frum men. They get investors for a nursing home, give a cant refuse offer to buy a nursing home way over market value and take a big cut. The investors lose their money bec of the overvalue.
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amother
Peach
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Tue, Jan 30 2018, 12:45 pm
NO. It's a terribly bankrupt sector.
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mha3484
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Tue, Jan 30 2018, 12:49 pm
It really really depends on what state its located in and how heavily they rely on Medicaid reimbursement.
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amother
Babyblue
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Tue, Jan 30 2018, 12:53 pm
amother wrote: | He will be overseeing it as a licensed administrator but he wont be there everyday bec it is a few hours away.
I thought it was " easy" money, compared to working many hours and hardly making ends meet. What I mean is even if he works very hard, would he get a nice salary"" "at the end of the day"? |
You probably know that there's no such thing as easy money.
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amother
Honeydew
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Tue, Jan 30 2018, 2:28 pm
My work provides a service to nursing homes.
a few questions:
who will be going the purchasing? sometimes the nursing homes hire a company to so their dietary purchasing.
Sometimes they have a PPD setup with a medical supplier.
does the nursing home currently have a PPD in place. How much is it?
If the nursing home is doing their own purchasing: Is the nursing home staff ordering only approved items (not ready made frozen dishes). having a purchasing software will help, but if its only one facility this will be terribly expensive.
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amother
Red
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Wed, Jan 31 2018, 7:07 am
mha3484 wrote: | It really really depends on what state its located in and how heavily they rely on Medicaid reimbursement. |
It is in new york state, like close to albany. Yes they rely heavily on medicaid reimbursement.
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amother
Red
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Wed, Jan 31 2018, 7:07 am
amother wrote: | My work provides a service to nursing homes.
a few questions:
who will be going the purchasing? sometimes the nursing homes hire a company to so their dietary purchasing.
Sometimes they have a PPD setup with a medical supplier.
does the nursing home currently have a PPD in place. How much is it?
If the nursing home is doing their own purchasing: Is the nursing home staff ordering only approved items (not ready made frozen dishes). having a purchasing software will help, but if its only one facility this will be terribly expensive. |
Thanks for this info.
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