How to get started in residential assisted living rental business 

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Yes, there are down sides to every business, including this one! She talked a bit about it during the misconceptions part, but the hardest part in this business and any business is dealing with PEOPLE! Wether it's the seniors families, the caregivers, the neighbors, you name it! The seniors, the real estate, that's the easy part!

Why dont you stop focusing on that and focus on the positives

right especially concerning liability and infection control issues!

@@the_Success_Experiments because I look at all angles to everything if I’m entertaining something to get involved in, I do not just looks at one side, it’s called having an open mind and overcoming challenges before they become an issue puddin pop so how about you stfu and mind your own business

Duh….

congrats

Hope to meet you at RAL NAT CON!!!!

This is why we show people how to navigate it all, definitely not easy, but oh SOOOO worth it! Helping seniors AND cash flowing, it's amazing, if you want us to help you - we're here for ya!

Yes, from what I can tell, Isabelle is the real deal. She's not cheap, but she tells the truth about this industry. 👉Make sure you join our email list so you don't miss any exclusive trainings, events or Questions of the DAY: aw8d9fb.aweb.page/p/6cca7548-b8c4-4a7e-a6b6-9cdc9b706c48

YES! Isn't that so incredible, we are beyond proud of Dean!

You have to make sure you have enough capital set aside BEFORE you start to hold you over until your full and cash flowing! You need 2x your monthly expenses in carrying costs minimum!

Thank you!

Thank you!

P

You can still start off small, see if you like the business and if you do go bigger in the next one. She is providing her recommendations to make 10k… but you can start with what you have.

Consider opening a group home first, build up some cash reserves, then start an assisted living facility. We can collaborate or partner if you wish.

FL is amazing for this! I wouldn't recommend doing a smaller home because the breakeven number is usually 6, so if you can only have 6 residents all with shared bedrooms in your 3/2 then it's probably going to be tough to cashflow. The more residents the better, you may want to reposition that asset and use that capital to start this new business!

Are there other costs for entry that are not discussed. Basically, there are some courses in other business that get you in at an entry level fee and then they tell you that we have another level that will speed up your success but it will cost 5K or 10K etc. That is what I want to know.

Exactly! Thank you! Most of that $10k goes to Caregivers. Age 85+ have the most medical conditions. There must be someone on shift 24/7 But they don't talk about that. I know because I own and am partnered with numerous senior housing beds and we all struggle with providing the Care these seniors need and the lack of Caregivers to work with you at market value. It can be lucrative when you build your team.

@@OptomisticEnergy it seems this may work best if you have minimum 6-7 beds… any less you’re in the negative with paying the mortgage/rent, caregivers, meals and Nurses. That staffing is a beast daily

You'll want to use a larger property for this! Think private bedrooms and bathrooms for each resident, with 6-16 residents in the home, it'll probably be 3000-8000 sq ft. You're going to have a 4 to 1 or 5 to 1 ratio in the home, so yes, when she shared the expenses being around $35k for a 10 person home that includes paying for the staff. The caregivers are typically making $1-2 above min wage, so if that's $12 in your area, they're making $13-14/hr typically.

Let's goooo! Hope to meet you at RAL NAT CON!

Not in our homes, but in the industry at large YES! We really focus our education on showing you the best way to not just hire, but train, onboard and retain the best staff

Let's do it!

We can show you how to do it....?!?

@@RALAcademy we had electricity installed, the contractor cleared and leveled the spot for the manufacture home. Next steps is the water wells and the septic tank, maybe this week or 3 more weeks would be complete. We are approved loan for the manufacture house. Thank you so much for your offer, what are you teaching? Or specialty?

@@trihuynh5840 Our speciality is residential assisted living, what this video is all about! :)

Most definitely

Local governments are cities, usually they are called “municipalities” which encompasses cities, towns, villages, counties, etc.

Thank you

Local oversite usually unannounced visits and quarterly. State yearly visits

Correct! They do, usually untouched and a few times per year. This is a beautiful thing tho, it helps protect the people who are doing it right and expose the ones who are not!

Here to help! Hope to see you in class soon

Totally ranges based on which of the 4 routes you choose to get started and where in the country you are. Could be as low as $300k upwards of $3MM! But we show you how to use OPM so you don't have to use your own money to do this

You're so welcome! We do our best to bring value to all our LIVE Roundup Fam, there's still a coupon code avail to later supporters. Thx again for watching. 👉Make sure you join our email list so you don't miss any exclusive trainings, events or Questions of the DAY: aw8d9fb.aweb.page/p/6cca7548-b8c4-4a7e-a6b6-9cdc9b706c48

@@krishaskins Do you still have a code where it would cost around $900 something that she mentioned in the video?

thank you!!!

Love it! The best part about this is, you're not working or living in the home, so you don't need a medical background, you're going to hire the licensed CNA's to be caregivers in the home.

Get started by taking action on the discounted course so you can learn all the questions you're asking and more!

YAY! Glad you enjoyed

You probably need to call RALNA! The lawyers there can help you fight this battle!

Potentially!

That’s exactly what came to mind when I watched this video. 🤔 Will definitely dig hard into this venture and it really does make better sense than typical renting for sure

Interesting.... did you register for the course?

Love that for you :)

Here's the thing. Just THIS month, I had a lady give me first month rent AND security deposit that rents rooms to the elderly. This really came on time as I was NOT thinking about it, UNTIL I met this lady in my market here in Virginia. She paid 30 days in advance and shared w/ me the opportunity to see a different side of real estate, even though I been in since 2002. I'm happy to maintain a beginner mindset and be willing to try new things. It always works out better when I do.. SO, now that I see how much money is floating around out there regarding this industry, AND the fact that my new tenant is already doing it, renting from me, I'm actually not making it my main thing, but all this came around at the same time. 👉Make sure you join our email list so you don't miss any exclusive trainings, events or Questions of the DAY: aw8d9fb.aweb.page/p/6cca7548-b8c4-4a7e-a6b6-9cdc9b706c48

Yes, we love sharing with investors how to do what we do ourselves and bring attention to the much needed asset class of senior housing in a residential setting!

They gave us a new code for all my supporters that view after the first week, Use code "REROUNDUP"

Coming to live events and meeting someone who will partner with you is a great start - RALAcademy 3 day fast track or RAL NAT CON are some options! Or maybe you have someone in your life you want to partner with in this way. Tell me more about the property? Have you done the demographic research? How many bedrooms/bathrooms? What's the sq ft?

@@RALAcademy I don't know anyone who wants to partner up. Home is 4 bedroom/3 bath and 2600 sq ft. It has a daylight basement with it's own entrance. Home in Newport OR, not sure if there's a need for it here. But majority of my neighbors are in their 60's-90's.

@@lalalalalalalala4264 Can you add an additional 3 bedrooms and 3 bathrooms, and an elevator so the seniors can access the basement? If those things are not possible, it may not be the right fit, maybe you reposition the asset and use the capital to start fresh with a property that's already in the right area with the right layout etc?

I wouldn't recommend

The course is discounted using Kris' special code!! Did you take action and get registered?

We recommend private bedrooms and bathrooms, with a few shared options. So if you're licensed for 10 residents, maybe 8 bedrooms minimum!

No

Nope, it's zoned residential!

Did you register for the training?

Private bedrooms and bathrooms if possible!

Childcare is different than public schooling - but yes you're correct!

RAL is called 22 different "names" across the country, in your market it may be called that!