Today's podcast features Michael Osterhoff. He is an attorney by trade and focuses on developing senior housing communities. In total, he has over 20 years of legal experience and significant experience in the healthcare industry. Michael has led investigations of improper competitive practices under healthcare laws and regulations. He successfully brought claims of unfair competition and tortious interference. With his experience in the intellectual property and healthcare fields, Michael works closely with private equity funds, venture capitalists, and startup companies. He assisted them in seeking funding and those involved in mergers and acquisitions.  Right now, he focuses on the development of senior living facilities in the commercial real estate sector. In today's episode, he will discuss building wealth in senior housing.

Michael currently works as the Principal and General Counsel of ‎Meadowview Senior Living. Meadowview Senior Living develops Independent, Assisted Living, and Memory Care communities for seniors. They offer the freedom and flexibility that seniors desire and the amenities they deserve. Meadowview develops spacious, private apartment communities with access to a variety of amenities. These include spas, coffee bars, hair salons, movie theaters, craft areas, ice cream parlors, pools, walking trails, gardening, and so much more. 

(00:01-02:58) Opening Segment

- Introduction of the guest, Michael Osterhoff into the show

- Mike shares how he started working in legal work in developing senior housing.

(02:59-14:42) The Journey to Real Estate Investing and Building Wealth in Senior Housing

- Mike explains why he chose real estate and why he shifted from being a general counsel to real estate?

- Mike shares his first real estate investment on a deal

- How and Why Mike pick senior housing

- Statistics on Silver Tsunami

- Doing research and performing due diligence is important!

- Mike shares his first senior housing deal

- Why Mike chose to develop a new facility than acquiring an existing facility

- The amenities that Meadowview Senior Living offers

- How to choose the market and area where the facility will be developed?

- "Always choose strong neighborhoods."

- Perform early due diligence and full market study

- Tool or website investors can use  in performing senior housing market study

(14:43-25:06) The Gotchas in Senior Housing

- Gotchas to keep in mind while underwriting a new construction senior housing

- The importance of having a solid management team

- How to ook at the cash flow once the construction is done?

- The distribution structure

- What is Michael's marketing plan to attract senior housing residents?

- Best real estate deal

- Worst real estate deal

- "Every deal is different"

(25:07-25:25) BREAK

(25:26-25:37) Second Segment

- Welcoming listeners back and re-introducing podcast guest, Michael

(25:38-35:10) Fire Round

- Will Mike change his business strategy after Coronavirus?

- Favorite real estate finance or and personal development related book?

- Website or tools that Mike recommends

- Mike's advice for beginner investors

- How does Mike give back?

- How can Wealth Matters Podcast listeners reach out to Michael?

(35:11-35:34) Closing Segment

Reach out to Michael via email [email protected] or connect to him on LinkedIn. You may also visit meadowviewseniorliving.com