Doug Ford is wrong: ‘Greedy’ Investors Should Get Into the Nursing Home Business, the Government should get out! – May 28, 2020,
Speaking as a Greedy investor, one of the businesses I stay far away from in Canada is anything to do with old people. I was actually going to invest in a nursing home in 2006, but opted out, because isn’t wasn’t profitable enough. At that time I think Kathleen Wynne was Premier of Ontario, and what turned me off about Nursing homes was the regulations, it was ridiculous I remember wanting to fall asleep as the person pitched me on the idea.
As a greedy invest, what I look for our liabilities, how easy is it for them to sue me, and when I as a greedy investor looked at all the liabilities attached with owning a Nursing home for the small amount of profit I’d get back, I said hell no. Now there were some nursing homes that I did want to invest into, but those were the upper tier nursing homes, an invite-only type of investment, and these investments I think would cost the individual like $6000-$10,000 per month if I remember correctly, but they were attracting rich clientele.
If a nursing home is catering people reliant on some retirement insurance check or some form government welfare check, those nursing homes are horrible investments, it’s unlikely a greedy person with half a brain would invest in one of those, the type of investor investing in those types of businesses are usually rookie investors who can’t read a balance sheet.
Doug Ford in an effort to please Liberals who will never like him is attempting to sound tough on capitalists, but he sounds like an idiot, greedy people don’t like the government, that’s why slum lords and the owners of horribly run Nursing homes get into these businesses because most of the owners of badly run nursing homes often get into the business with good intentions only to realize that their tenants and the family of their tenants will use the poor of the government to make the owners of these nursing homes makes changes those nursing homeowners can’t afford!
It’s important to remember the human element involved in running a nursing home. Once the kids finally kick mom,dad, grandma or grandpa out of the house and shift responsibility onto something external, everything that goes wrong in the nursing home is owners fault!
Most of the time the family members of people in the nursing homes will make managements life a living hell, greedy people like myself, don’t get into businesses like that because complaints lead to legal issues will lead to laws being changed, which lead to additional unforeseen expenses, enforced by the Government and their regulatory authorities!
Greedy people like me understand humans, humans are for the most part assholes, looking for something external to blame. So for someone greedy like me, if I’m investing in a nursing home it’s a nursing home for rich people! and how I’d built it is ridiculously spacious with a management team who has the flexibility to anticipate and cater to the inevitable socialist law changes that the government will impose on my business!
Now, in regards to nursing homes in Canada, people want more than they’re willing to pay for, it’s really that simple, socialists want all the benefits without the price tag to match. I’m sure if these horribly run nursing homes were allowed to raise their prices to a market level, they wouldn’t be horribly run nursing homes, but they can’t which is why greedy people like me would never invest in a Nursing home business for lower, or even middle class people!
I take serious offense to Doug Fords comments, have more respect for us greedy folk!
Doug Ford: ‘Greedy’ Investors Should Get Out Of Nursing Home Business | huffingtonpost.ca
Interesting times ahead!