21 May Success Interview with Scott and Jenna Olson
We here at Residential Assisted Living Academy get to meet and interact with some amazing people. One such couple is Scott and Jenna Olson from Texas. We met them in person for the first time at the National Conference where they received their Nat Con award. In less than a year they were able to acquire 4 homes for their RAL portfolio! What is super awesome, is the fact that they did that with the education from just the online home study course and the monthly Q&A calls.
Interviewed by Gene Guarino Feb 2018
Scott and Jenna signed up for the home study course at the end of January and spent one week going through the whole course. They made sure to sign up for the monthly Q&A calls that come with the online course and by early April they had their first home purchased and ready for the remodeling. Their second home was obtained by late April, a third followed in early June, and in September of 2017 they purchased one that was already operational.
Quite often you will hear about challenges that RALA students face getting their first home. The Olsons live just north of Houston and in the process of remodeling the hurricane roared through and caused some delays in the remodels, but they are happy to say that 2 of the homes they purchased and remodeled are now open and opened the third in March giving them licensing for 42 beds.
Scott is a corporate attorney and has big plans to replace his income this year with the earnings from the RALs and retire. Scott and Jenna split the work between them with Jenna handling the operations, activities, menus, and staffing, while Scott handles more of the “backside” of things like finances, legal paperwork, coordinating repairs, and insurance. What is extra amazing is that they have done all this with 2 adult family members with dementia living with them, their children, and a new baby.
One of the big things for them was coming to National Convention. They said they learned so much and were able to apply the information directly to their business. One of the big issues for them was staffing their homes and Jenna is very particular. “Caregivers are your advertising. It might be challenging to find the right caregivers, but not impossible. One of the things I learned at Nat Con was ‘hire the heart, train the skills’,” Jenna said.
They have also decided to keep their beds filled at below their licensure certification. “We notice that the hectic-ness rises and find about 12 residents per home just right for us and our financial numbers,” Scott said.
Other suggestions they wanted RALA students to know are to be sure to shop the homes in your area or visit as a volunteer. That way you see the workings of the good (and bad) places and can apply it to your homes. ALSO, if you haven’t gone to the 3-day live training, GO! They felt that they could have grown faster if they could have attended the live training.
Scott and Jenna are a great example of how many of our RALA students succeed very quickly once they get the right information. Kudos to the Olsons!