I was fascinated by an article that published earlier this summer in the Seattle Times, “Aegis Living ramps up projects for a new generation of retires,” that truly validated what we are doing here at Burn$ Funding, especially with regard to our new division, Luxury Group Home
The journalist noted that a Bellevue (WA)-based company, Aegis Living, has “launched a string of new projects” in the northwest. Already with $3 billion in assets, it plans on doubling in size within the next 10 years. I can totally understand why the company’s leadership is so optimistic. I am, too, for the same reasons.
“I don’t think many people understand the kind of tectonic shifts that are happening,” said Aegis Living’s president, Kris Engskov, told the paper. “In 2035, one in 5 people will be in the retirement age. The expectation of how people are going to be taken care of will change dramatically…their expectation is very different. We’ve been designing for really a World War II generation. Now the Boomers have arrived.”
Engskov elaborated on this, adding that the industry is gearing up for a generation of clients that’s more technologically advanced and will expect hyper-personalized care.
The paper went Robert Kramer, founder of the National Investment Center for Housing and Care, who added that the industry is “recession-resistant because it (is) a need-driven product. When it’s a question of Mom needs long term care, that’s not something you could postpone for very long.”
In a 2018 study by the American Association of Retired Persons found that 77% of Americans over the age of 49 would prefer to live in their community for as long as possible, according to the paper. “Clark said the intention of Aegis Living’s complexes is to allow residents to age in a familiar sort of place, if not actually at home.”
While the market for those who can afford to live in a luxury group home are growing, another segment is growing as well – an “underserved, forgotten middle people who have too much in resources to qualify for government support but not enough resources to afford most of the private pay options out there today.”
That’s why we not only have Luxury Group Homes division, where the first mansion in Phoenix is being retrofitted as we speak, but also our more traditional Group Homes division, which is more for that latter segment of the population. Both are in great demand.
And both present tremendous opportunities for investors, who can take advantage of the kind of passive income opportunity that may, ironically, ensure their own in a luxurious setting.