
The Alternative Investing Advantage
Assisted Living Investing: Why Rod Khleif Made the Switch - Episode 223
Senior housing investing is drawing capital as demographics tighten the supply of beds. Rod Khleif hosts Lifetime Cashflow Through Real Estate Investing, and his coaching students own more than 305,000 multifamily units. He joins Alternative Investing Advantage host Alex Perny to explain why he has moved part of his focus into assisted living and memory care. Key Points: - Roughly 10,000 people a day turn 80 in this country, and Rod says construction is running at about 4 percent of projected need. The gap is the thesis. - Distressed multifamily is trading below replacement cost. Operators who bought in 2021 through 2023 on adjustable or bridge debt now face maturities they cannot refinance or sell into. - Debt service coverage is the constraint lenders care about. With sales down sharply and rates elevated, many owners are caught between refinancing they cannot qualify for and a sale they do not want. - Assisted living underwrites differently than apartments. Payroll, food, and management costs scale with resident count and level of care, which makes the pro forma more complex than a unit-based model. - The operator determines the outcome. Rod does the real estate and partners on care, and he screens for track record, complaint history, systems, and staff culture. Chapters: 00:00 Introduction: senior housing and commercial real estate 01:09 How Rod Khleif got into real estate and what 2008 taught him 04:57 Why multifamily is in distress right now 07:50 Finding distressed deals and raising capital 11:37 Debt service coverage and the lending environment 14:20 The demographic case for assisted living 18:00 Independent living, assisted living, and memory care 22:31 How to evaluate a senior housing property 26:57 Vetting operators and common mistakes 31:19 Where operational failures create opportunity 33:56 How to connect with Rod Khleif Subscribe to our YouTube channel and join our growing community for new videos every week. If you are interested in being a podcast guest speaker or have questions, contact us at Podcast@AdvantaIRA.com. Learn more about our guest, Rod Khleif: https://rodkhleif.com/ Learn more about Advanta IRA: https://www.AdvantaIRA.com/ https://podcasters.spotify.com/pod/show/advanta-ira https://www.linkedin.com/company/Advanta-IRA/ https://twitter.com/AdvantaIRA https://www.facebook.com/AdvantaIRA/ https://www.instagram.com/AdvantaIRA/ #SeniorHousing #CommercialRealEstate #AssistedLiving

