18 Feb Success Interview with Lawrence Co and Josie Co
Success Interview with Lawrence Co and Josie Co
Interviewed by Gene Guarino Feb 2018
Lawrence Co and Josie Co are a brother and sister team in Northern California. They had been researching the industry when they found Residential Assisted Living Academy on the web. They immediately called to have a Discovery Interview and signed up for the December 2016 3-Day Live Assisted Living Business Accelerator so, as Lawrence said, they “didn’t have to figure it out on their own and could succeed faster.”
During the 3-day training Lawrence and Josie were clear that they wanted to keep their momentum going and joined the Platinum and Inner Circle group. They had been looking at several properties before they came to the December live training in Phoenix, but followed the advice RALA gives all students, WAIT until AFTER your training to buy a home. Lawrence expressed how once he had taken the training he knew exactly what to look for and the training made it very easy to pick the right home they wanted from the broker. Within 2 months they made an offer on their first home. They closed in March of 2017 and started operating in April of 2017.
Their 6 bed home of private and semi-private rooms charges a reasonable rate for the area of about $5000 monthly per resident depending on the level of care. Their biggest challenge was getting their name out there. Lawrence recommends getting your website up and a dedicated phone number right away and start networking with hospital social workers and rehab centers within a 5 mile radius (Lawrence is in a highly populated area. You may want to expand your radius depending on your location) as soon as possible. He also contacted fellow RCFE/RAL owners and bigger assisted living facilities just to get them familiar with him and make them aware of the home. Now their home has a waiting list and they are looking to expand with another assisted living home.
Here at RALA we are giving a big SHOUT OUT to Lawrence and Josie’s success! Whoot Whoot!