I am looking to invest in a care home or nursing home, pretty much as a buy to let venture. i.e. I have no interest in actually running the home, and just want to put a manager in place (or preferably keep an existing one if already employed by the home).

I have heard of people doing very well in this area in the past, although it is obviously a little more involved than simply buying residential property.

Does anyone here have any experience of the above, and be able to offfer any advice? Anything appreciated at this stage.

Thanks for your help

This is definitely not an area to get involved with, unless you really know what you are letting yourself in for and have some experience of this type of business. Nursing homes can be lucrative ventures and have certainly provided good returns in the past, but they are the subject of extremely complex regulations, a high volume of safety laws and they are very expensive to run. Staffing costs alone can outweigh income, particularly if you find yourself resorting to agency staff for periods at a time. Insurance is another factor - and a major one! Indemnity insurance is costly and new start-ups have difficulty obtaining it, but without it, you cannot operate.

Nursing homes are also the subject of local authority scrutiny and operators require to be licensed. Another cost - and local authorities invariably make any license the subject of additional conditions, either building/repair/fire safety work - or other 'staffing' and 'management' prerequisites.

Even ex-nurses or retired nurses I know have moved into this field are struggling to survive. Either running the business becomes a millstone or the stress of the type of input required eventually causes stress and anxiety. Those without a nursing or aligned career background will probably find this business all-consuming and extremely difficult.