In Florida, Assisted Living Facilities and a Proposed Tax Change Are Drawing Investor Attention

Written by:

Steve Marcinuk

Date:

15 May 2026

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Florida’s real estate market has long attracted investors from across the country. Still, a combination of potential policy changes, demographic demand, and emerging asset classes is reshaping how experienced operators view opportunities in the state. For Jason Davis, founder and licensed broker at Stoic Estates, the current moment calls for a strategic approach rather than reactive decision-making.

From the Majors to Independent Brokerage

Davis spent the early part of his career at several large firms before concluding that scale and brand recognition don’t always translate to depth of knowledge. That realization led him to open Stoic Estates, a firm built around a philosophy rather than a franchise. The name draws from Stoicism, the ancient school of thought centered on reasoned decision-making under pressure. “It’s a philosophy of thinking without emotions,” Davis explains. “Making intelligent decisions without acting emotionally in high-pressure situations.”

The firm operates across residential, commercial, and property management, including a community association management license covering high-rises, office buildings, and multifamily assets. Rather than specializing narrowly, Davis built a practice that follows clients across the full lifecycle of a real estate investment.

Assisted Living as an Asset Class

One of the more distinctive areas of Stoic Estates’ focus is assisted living facilities – a niche Davis entered by building one himself. Navigating zoning, permitting, state licensing, and operations gave him working knowledge he now applies on behalf of buyers and sellers.

The financial case for assisted living is relatively straightforward, according to Davis. At roughly $100,000 per bed, including the building, a mid-size facility offers transparent cash flow because revenue figures are documented with the state. A 20-bed facility generating $3,000 per bed per month produces $60,000 in monthly gross revenue, with expenses typically running between 55 and 60 percent.

A recent transaction illustrates investor interest in this space. Davis brokered the sale of a 33-bed facility in Hollywood, Florida, for approximately $3.7 million to a New York-based buyer executing a 1031 exchange. The buyer was drawn to the documented cash flow and the scale of the operation.

For investors considering entry, Davis points to financing as a common stumbling block. Many buyers default to SBA loans without fully understanding the restrictions or experience requirements lenders impose. His recommendation is to purchase the building with a conventional commercial loan and buy the business separately, avoiding SBA complexity entirely.

He also cautions that operational readiness matters as much as the numbers. Many mom-and-pop facilities come to market with disorganized financials, inconsistent documentation, and licensing gaps. “Buyers like to see a clean deal,” Davis says, advising sellers to organize their records well before listing.

A Proposed Tax Change

Beyond assisted living, Davis is watching a proposed policy change that he believes could significantly affect residential demand statewide. Governor Ron DeSantis has been advancing a proposal to eliminate property taxes on primary residences – a measure that would require voter approval.

Davis anticipates the policy would drive prices up considerably by reducing the ongoing cost of ownership. The implications extend beyond existing Florida residents. Buyers from high-tax states like New York, New Jersey, and California would have an additional incentive to establish Florida residency, particularly given the 181-day threshold that qualifies someone as a state resident. “You’re going to have many people from different states buying these properties,” he says.

Florida’s ability to absorb the revenue loss stems partly from the state’s fiscal reserves, which Davis estimates at around $64 billion. Whether the measure ultimately reaches the ballot and passes remains uncertain, but the possibility is already influencing how investors and brokers think about near-term demand.

Equity Strategy

Davis also takes a clear position on how property owners should think about equity. Rather than treating a paid-off mortgage as a financial goal, he argues that equity should function as leverage for further acquisition.

“Never, ever pay off your mortgage,” he says. “You’re using the bank’s money to leverage yourself. If you have a lot of equity in a property, go get an equity loan, buy another property, and keep doing that to expand.”

The logic is that real estate appreciation compounds across a portfolio, not just a single asset. In an environment of stock market volatility, Davis sees real estate diversification as one of the more reliable paths to long-term wealth building.

This perspective shapes how Stoic Estates advises clients, particularly those approaching retirement or looking to build generational wealth. The firm is also building out contractor partnerships in anticipation of increased demand for property improvements, on the premise that homeowners freed from property tax obligations may redirect that capital toward expanding or upgrading their assets.

The Human Element in an AI Market

While technology continues to reshape how real estate transactions begin, Davis draws a clear line between automation and professional judgment. Most people would not invest a significant sum in equities based solely on what they found on a website, and Davis applies the same logic to real estate.

“When you’re buying real estate, it’s probably one of the biggest purchases you’re ever going to make in your life,” he says. “You’re not going to get the value of making an educated decision from a bulk website.”

Negotiation, relationship management, and on-the-ground reading of a deal remain areas where professional expertise holds its value. Davis sees AI tools as productivity enhancers rather than replacements, particularly for a business that runs on relationships and knowledge.

With capital partnerships forming ahead of what he expects to be a high-demand period, Stoic Estates is positioning itself to move quickly when conditions accelerate. Whether the proposed tax change reaches voters or assisted living demand continues climbing, the underlying strategy remains consistent: acquire assets, manage them well, and stay ahead of the forces shaping the market rather than reacting to them after the fact.

About the Expert: Jason Davis is the founder and licensed broker at Stoic Estates, a Florida-based firm operating across residential, commercial, and property management, including a community association management license. His practice covers the full lifecycle of real estate investment, with a particular focus on assisted living facilities as an asset class.

This article is based on information provided by the expert source cited above. It is intended for general informational purposes only and does not constitute legal, financial, or real estate advice. Readers should conduct their own research and consult qualified professionals before making any real estate or financial decisions.