158: Massive Cash Flow From Assisted Living Homes with Gene Guarino
Massive Cash Flow From Assisted Living Homes with Gene Guarino
Generate $5,000 to $15,000 monthly cash flow from one single-family home converted into an Assisted Living Home (ALH). The demographic trend is your friend. Every year 1.4 million Americans are turning age 85. To invest in ALHs, begin with the property’s location. We discuss exact numbers on how a Profit & Loss Statement differs from that of residential cash-flowing turnkey property. You optimize income by attracting “Private Pay” residents, not Medicare/Medicaid residents. We discuss how. We discuss how an ALH Manager’s role differs from that of a residential Property Manager. We discuss. Risks and licensing requirements might not be onerous, yet they’re barriers of entry to others. Financing options are quite favorable if you want to begin an ALH. Gene Guarino, Founder of the Residential Assisted Living Academy, is our guest today. As a gift, he offers us a FREE 6-Part Residential Assisted Living Training. Gene has also founded the upcoming Residential Assisted Living National Convention. The inaugural annual event takes place Nov. 10-11 in Scottdale, AZ.
Want more wealth? 1) Grab my free newsletter at: GetRichEducation.com 2) Actionable turnkey real estate investing opportunities: GREturnkey.com 3) Read my new, best-selling book: GetRichEducation.com/Book Listen to this week’s show and learn:
02:56 Scarcity vs. abundance.
06:10 No paycheck can buy yesterday.
07:27 Gene Guarino interview begins.
10:10 Don’t move Mom into a hotel, but rather a small Assisted Living Home (ALH).
16:13 Options: You could own the real estate and lease the ALH business to others, the “Golden Girls” model.
18:36 Retrofitting a home for seniors. What physical amenities are needed?
20:54 Zoning and HOAs.
22:01 Monthly Profit & Loss Statement.
26:52 How to attract the more lucrative “Private Pay” residents.
31:06 What does an ALH Manager do?
32:47 Gene & his wife spend 5-10 hours/week.
34:48 Risks, licensing, documentation.
37:59 Financing options.
41:02 Professional vs. casual approaches to investing.
42:28 Getting the first resident in your ALH.
45:05 ROI = Return On Involvement.
47:44 Gene offers you a gift: FREE 6-Part Residential Assisted Living Training.
48:20 Gene founded the upcoming Residential Assisted Living National Convention in Scottsdale, AZ on November 10th and 11th.
Resources Mentioned >