Hey guys. So, I wanna talk about hospitals, okay. How do they impact the fundamentals of a property investment? And I have to say, I’ve always loved hospitals and I’ve always loved water, okay? Water most definitely is probably my most favourable thing because it’s very hard to create more water, whether that be in lakes or canals or wherever it is. And that’s one of my favourite fundamentals. But anyway, hospitals, if you talk about hospitals specifically, I love hospitals. Now, how I define a hospital, and interesting I define a hotel around the same way, which is that it is a micro city, okay?
So if you’ve ever been in a hospital, you may be going in to see a sick person or a pregnant person or whatever, or perhaps just had a baby or a whole host of other things obviously, you know, professional services, blah, blah, blah. But what you’ll find is actually, you’re gonna have catering because you’re gonna have food and people. You have to provide people with food. You’ve got the laundry. You’ve got pretty much everything that you would expect in a city in that one area.
Now, yes, they may outsource and do all those sorts of things, but the reality is you have got perhaps for, you know, an average sized hospital, you might have 2,000 employees and then perhaps even another 5,000 employees that link into to run that thing. So that’s quite a few jobs in quite a small area and that creates fantastic fundamentals. And that is why I love investing near hospitals because I know that a lot of those people, in particular doctors and nurses, they will go and rent in that area because they may be doing two years, they may be doing, you know, whatever, on the job training, whatever in that area. And by doing that I can actually get a rental property that rents out pretty well.
Now obviously it will depend on where my rental property is. If it’s super expensive, you may be getting the doctors and the professionals, you know, if it’s cheap, then you may get the nurse, you know, the graduate nurses straight out of nursing school or perhaps in nursing school and doing their on the job training. So you know, fundamentals are always key to property investment and hospitals have some the best fundamentals in and around the area. So if you’re talking in and around the area, you know, it’s commutable, easily commutable to the hospital because that’s what they want. You know, these guys are working night shifts, they’re working, you know, it’s a 24-hour city, okay? And so that means that there’s plenty of people who are finishing at 12:00 at night to 2:00 in the morning or whatever and, you know, those people want to live close by. They don’t want to be driving an hour away. So, you know, anywhere within sort of 15, 20 minutes of a hospital, excellent fundamentals. And obviously the closer you get in the better, all right? So hopefully that gives you a bit of an idea of how hospitals affect fundamentals. It’s a micro city in one little place. Fantastic fundamentals. All right guys have a great day. Live with passion and remember, subscribe and comment and I’ll happily reply.