Justin Tuminowski sits down with David Moody and Jared Morrison to break down how they acquired a 20-bed assisted living facility in Michigan using a subject-to structure on an SBA loan. They share how a deal originally priced at $660,000 was renegotiated after deeper underwriting revealed the facility was being run almost entirely by the owners, creating major staffing and operational considerations. The conversation covers the tight timeline caused by the seller’s cancer treatment, the $67,000 hard deposit, the refinance strategy with a local credit union, and the lessons they learned about buying a business versus buying real estate. David and Jared also explain how this deal shifted their long-term focus toward building and serving in the assisted living space.
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