This valuation has two parts. Think real estate on one side and the business on the other. You have a home which is the real estate with value. Let's talk about that first. The home is a residential property. It's a residential home in a residential neighborhood. Notice I keep stressing “residential” because as much as you think it's commercial...

           Do I need to have shared and individual rooms? You don't need to but it is a good thing. If you have a 10-bed facility, it would be good to have. For example, the larger room, you might want to make able to accommodate two beds because, for example, you might be able to charge $3,000...

            Are prospect residents and families allowed to visit multiple times before final decision is made? Yes, absolutely. You want the families to do their due diligence. - Tweet this! You want them to feel comfortable and to have all their questions answered, and it gives you an opportunity to feel them out and get an idea as...

Differentiate. Begin the wave, the tsunami; it's unstoppable. What do other investors do? What kind of competition do you have? Do you know anybody who's doing fix and flip wholesale, foreclosures, short sales? Maybe they're doing just rent homes or apartments or storage units or notes. That's exactly what most people do when it comes to real estate investing. Every RIA...

The answer is, "Yes and no." Let me explain. When I first got started, I assumed I'm going to have a big huge van, we're going to take people to the opera, and the ballet, and the senior center, and the library. You know what? Grandma isn't that mobile. She's not going out all that often. If you have a vehicle...

I had to face this question recently; smoking inside a facility. Here's the reality, most people are not going to want to have smoke anywhere near them, whether the state allows it or not, but some residents unbelievably, even they're 85 years old and having health issues, are still going to want to smoke. What I would suggest you do is...

Medication management is one of the biggest needs that seniors have.   They come in to assisted living if they're living at home and forgetting to take their medication, or taking the wrong medication at the wrong time; a very dangerous situation. One of the things that the caregivers will do is medication management. – Tweet this! Now, in different states it's handled...

One of the questions that I get quite often is, can I do this in a home that I already own? The answer is maybe. Just because you can doesn't mean you should. The home itself is one thing, but… The location is really the critical point. Where is that home? – Tweet this! What if the house is an hour outside of...

Dementia. Memory care. Is that part of assisted living? The answer is, it could be. Here's the reality: if somebody has severe dementia, if they've got severe needs when it comes to memory care, one of the main concerns is how are they are secured in the house. Somebody may tend to wander. If the home has a wanderer, the doors...

Who takes care of the residents when it comes to bathing and taking care of their toileting and so on? It's not me. That's not my job, it's not what I'm going to suggest that you do either; that is what the caregivers do. The caregivers are taking care of the residents’ "activities of daily living". That's does not include medical....