There Has Never Been a Better Time to Start

We have been pointing this out for years! Get in now while the demand is high and start learning how to start and replicate your very own residential assisted living business.

The need is high now and expected to keep increasing. The demand is projected to double by 2031.

If you don’t answer the call, no problem.

You keep doing your thing, working for someone else, getting paid whatever they will pay you. And the seniors who desperately need living options will continue to struggle to find quality homes and affordable options.

The time to get into this business has never been better than it is right now.

There is ample opportunity to gain a stable, high cash flow business releasing you from the 9-5.

Founder of Residential Assisted Living Academy, Gene Guarino, explains why senior housing is such a hot topic. The aging baby boomer demographic entering their senior years has created an explosive market.

Currently, there are not enough assisted living beds to accommodate the rising need, making senior housing a huge opportunity.

Guarino says this current crisis can shift into an opportunity for individuals positioning themselves to do good and do well.

THE START-UP PROCESS

Even with the best training, the start-up process is simple, but not easy. There will be challenges. Difficulties can include licensing, location, zoning, and more, but we have the support and resources in place to help individuals succeed.

Newcomers can glean from the mistakes others have made as well as learning from their successes. There is a huge crisis impacting seniors, and this provides a great opportunity for countless
entrepreneurs nationwide to help while also making significant cash flow.

We are all aging, and so are our parents. I always tell people that everyone will get involved in assisted living in one way or another. Either we will own the real estate, operate an assisted living home, or occupy the bed.

Residential assisted living is the combined business component of real estate and assisted living.

The elder-care market is worth an estimated $350 billion. Business owners can take advantage of this opportunity anywhere in the country.

The United States isn’t the first country to experience an accelerated rate of growth in senior living.

Japan and Scandinavia are currently undergoing a senior living crisis as well. Japan is the world’s oldest country, as it relates to the age of its citizens, with more than 25 percent of the population over age 65.

According to Bloomberg, Japanese seniors increased by 600% between 1985 and 2015.

In record numbers, elderly people in Japan are committing petty crimes, to spend their remaining days in prison for beds, healthcare, and meals. Prison faculty are forced to function as caregivers.

Sweden’s senior population is about 20 percent, in comparison to America’s 15 percent.

However, America’s rapidly approaching silver tsunami will swiftly shift causing an unprecedented wave in the senior population.

Guarino says opening new RAL homes across the country is the ideal way to accommodate baby boomers. RAL homes can avert the crisis and create business opportunities.

THE BALLOONING COSTS OF LONG-TERM CARE

By 2030, the current need for long-term care (LTC) will nearly double to 24 million Americans, while the supply of caregivers is rapidly shrinking.

An estimated $849 billion worth of LTC was provided in 2018; this study estimates that in 2030, LTC costs will more than double and may reach as high as $2.5 trillion.

An estimated 14 million people in the United States currently need long-term support services.

As the population ages, the need for care and the cost of providing that care will increase significantly.

More than one-third of seniors will spend time in a nursing home. According to Genworth’s 2019 Cost of Care Survey, the median cost for a private room is now over $100,000 per year.

Data from Altarum show that prices for nursing home care increased an average of 2.4 percent annually from 2012-2019, for a cumulative increase of 20.7 percent.

Given historical cost growth tracked by Genworth and Altarum, the total value of LTC provided in 2030 could reach between $1.3 trillion and $2.5 trillion.

As a result, residential assisted living is answering the call to care for the needs of seniors in need of care and housing.

WHAT DOES THE “DO GOOD AND DO WELL” MOTTO REALLY MEAN?

The motto is simple. The Residential Assisted Living Academy is leaving a legacy of doing good deeds by helping the rapidly growing senior community.

The model offers a higher standard of living and cares for the elderly with upscale housing and better ratios between caregivers to residents.

This model also allows owners to do well financially by earning an additional $5000, $10,000 or even $15,000 net cash flow per month for one single-family home.

Hence, owners are able to do good and do well at the same time.

Compared to the big box senior living facilities, the RAL model is very effective.

Residential assisted living is a neighborhood-based senior housing model that offers an intimate family-like setting.

These homes are in the heart of traditional neighborhoods. Guarino’s model has grown in popularity.

These smaller homes have fewer caregivers with familiar faces that are frequently seen by the residents daily. They provide an actual home-like environment that is caring and nurturing.

RAL homes are community-based.

They are in residential neighborhoods, where seniors can feel included in society, as opposed to isolated in large facilities.

Our model provides proximity and access to community services, stores, and parks – location is critical for RAL homes. This is the hottest topic in assisted living because the concept continues to gain more momentum nationwide.

Unlike the big-box model, our RAL homes are encouraged to have a pre-set fee, which includes everything needed in the assisted living setting.

Single-family houses converted into assisted living homes are typically based on month-to-month payment plans with a small security deposit.

Big box facilities have a higher fall risk due to a lower staff to resident ratio. They also lack the intimate setting of our upscale single-family RAL homes in normal neighborhoods.

The overall concept is beneficial to seniors and is also to the economic advantage of owners and operators.

CAN PEOPLE JUST INVEST AND BE HANDS-OFF?

Investing in residential assisted living with a hands-off approach is what some people are doing. This is an event-driven business.

For example, when dad or mom falls, the doctors will often suggest that someone look after him or her to prevent it from happening again.

When they need help, their children will often seek out an assisted living home. As a result, RAL homes are great low-risk investments. Residential assisted living is combining the business components of real estate and assisted living.

One person can own the real estate while another operates the assisted living component. There are a variety of ways to invest in RAL, and we teach people how to jump in feet first and how to invest hands-off.

LEARN EVERYTHING YOU NEED TO KNOW FROM A-Z ABOUT OWNING A RAL HOME

There’s a silver tsunami on the horizon. About 77 million baby boomers, with 10,000 people turning 65 every day, and 4,000 turning age 85. There are currently about 30,000 assisted living homes in America.

Middle-income seniors will nearly double to 14.4 million by 2029. The average cost to stay in a residential assisted living home is $3,650.

With over half the baby boomers lacking financial resources to afford big box private pay facilities, RAL homes will undeniably be in higher demand.

Guarino says this is the prime time to engage in the assisted living market.

Across the country, professionals have done the research and realize that right now is the best time to engage in the residential assisted living market.

The www.RALAcademy.com 3-day course teaches students how to earn an additional $5000, $10,000, or even $15,000 net cash flow per month for the rest of their lives.

Individuals can increase their income by transforming a single-family home into a senior living residence.

CLICK HERE to get immediate access to the free 7-part course and learn why senior housing is such an incredible opportunity.

Are you ready to increase your monthly net cash flow? Register today.

Ordinary Entrepreneurs Leaving Extraordinary Legacies with Residential Assisted Living

Launching any worthwhile business demands determination, which is why Chris and Michele Taylor make an excellent example for other entrepreneurs.

Together, they’re crossing the finish line of launching a residential assisted living home in Reno, Nevada. 

How can ordinary entrepreneurs make an extraordinary impact while leaving a legacy in the process?

According to Michele Taylor, it starts with knowing your big why. 

“You have to remember your big why,” she said. “Because there will be many speed bumps in the road.”

NO ORDINARY JOURNEY

“We are very ordinary people,” said Michele. “We are not rich; we just want to do good for others, ourselves, and our kids.”

The couple met in 2010 on Match.com; Chris’s username was Caples850, and Michele’s handle was QT911. 

After six months of dating, they set an engagement, and 63 days later, on February 19, 2011, the couple shared matrimonial vows.

Now, they’re using residential assisted living to leave a legacy for their 25-year-old son, Taylor, and 9-year-old son, Cooper.

“I pulled Chris into all of this,” Michele said. “He’s the brains behind the construction and carpentry – we work as a team.”

The Taylor family lives in Reno, Nevada, but Michele commutes 236 miles to work in Fremont, California, where she serves as an emergency medical technician (EMT). 

For 17 years, she’s been in the business of saving lives, with four days on and ten days off. 

During one of her long-distance drives to work, while listening to the Real Estate Guy Podcast featuring Gene Guarino, she heard about the business aspect of residential assisted living.

As a result, she decided to try it. 

“I love property,” Michele said. “I’m not the kind of girl that shops at the mall, but I love to shop for property.”

In 2018, she took the online course at the Residential Assisted Living Academy. Afterward, the couple decided to attend the live 3-day fast track training with Gene Guarino.  

The same year, they leaped into the business, purchasing their first assisted living home. 

CHALLENGES STARTING AN ASSISTED LIVING BUSINESS

“We had to get our feet off the ground,” she explained. “It is hard, and you might feel like giving up.”

The couple encountered unexpected obstacles.

While managing six rental properties and an Airbnb, the couple experienced unexpected challenges starting their assisted living business. 

“Problems are not a sign to not do it,” said Michele. 

Unexpected Problems Encountered 

  1. Instability in the Post-Tension Slab
    A post-tension slab is a section of cured concrete with tensile forces within the slab.
  1. Haunted House
    Strange occurrences of cabinets opening and closing, sound effects of dogs and cats, and reappearing shadows required a priest to bless the home. 
  1. Delays in Renovations 
    We raised approximately $2,000 by selling items left in the home to help offset expenses incurred by the delay. 

They spent $440,000 on the purchase of the home. Afterward, they secured an additional $350,000 renovation loan and waited three years during preparations to earn a return on their investment.

The process was daunting and took some work.  

“Completing the final inspection requires that the entire house be inspected,” The bedrooms are a mixture of pre-owned and new furniture – everything else is brand new.”

Currently, they are scheduled for their final inspection before opening Silver Oaks Care Home and Memory Care.

HARD WORK PAYS OFF

Chris and Michele successfully converted a 2,706 square foot home with 5-bedrooms into a licensed 8-bedroom home set to accommodate 10 elderly residents. 

In the process, her shopping skills saved them $13,000 under budget. 

“I’m an excellent shopper,” she said. “I’m 51 and purchased my first piece of property in New Mexico when I was 21-years-old.”

Her hard-working father strongly influenced her real estate ambitions.

“My dad would save money and buy properties for cash,” she said. 

However, she wants to do more than merely following in her dad’s footsteps. “Our tagline is

‘A place where families come together,’” she said. “I want it to be entertaining and fun.”

MAKING YOUR RESIDENTIAL ASSISTED LIVING HOME UNIQUE

“Every time we go over there, we want to move in ourselves,” she said. I even want our staff to enjoy the experience.

Silver Oaks Care Home and Memory Care plan to employ 12-15 employees with fully operational staff.

Michele’s vision for comfortable living has extended from indoors to outdoors. 

The home has walking paths with flat pavers, park benches, pergolas, rock walls, high ceilings, warm and welcoming. 

“We made it as comfy and cozy as possible,” she said. “My theme is a country-ranch style feeling.”

She says she hopes that vintage items and relics will bring back memories. 

“I believe seniors need to be surrounded by seniors in a sentimental community environment,” Michele explained. “I want our home to be the absolute best for these seniors.” 

Being an EMS worker has afforded Michele many field experiences. 

After responding to calls at countless assisted living homes, she failed to visit one home suitable for someone like her mom. 

Providing quality care to seniors is Michele’s big why

“Sometimes, your why are different reasons pulled,” she explained. “You have to want to do it; it’s not about the profit – it’s about doing good.”

The motto of the Residential Assisted Living Academy is “Do good and do well,” which aligns with her passion. 

“Working with the team at the Residential Assisted Living Academy has been fantastic,” she said. “You may not initially realize just how work is involved, but their support made it worth it.”

She says the team at RALA will always find the right person to help you with whatever you need – this prevents entrepreneurs from reinventing the will. 

Mentorship with Gene Guarino at Residential Assisted Living Academy determines whether some businesses will fail or thrive.  Owning and operating an assisted living home is a journey and a learning experience. 

Michele says this industry is not for everyone. But, most importantly, she told the Residential Assisted Living Academy helped them remember their big why.

Visit www.RALAcademy.com to learn more about the 3-day course that will teach you everything you need to know about owning and operating a business in the industry. 

Register today while seats are still available and learn how to turn ordinary life into an extraordinary legacy. 

IF YOU GO:

Silver Oaks Care Home and Memory Care
www.Silveroakscarehomenevada.com
Attn: Chris and Michele Taylor
(775) 507 – 4125
8255 Opal Ranch Way
Reno, NV 89506

Finding Success with RALA: Talon & Christina

Talon and Christina are a power couple trudging through the details to make housing for seniors available.

As members and students of Residential Assisted Living Academy, Talon and Christina are learning how to navigate the sometimes murky waters of the assisted living industry.

There has never been a more crucial time in America’s history than the present. What makes this season so vital is the need for senior housing.

Baby Boomers are entering their senior years, and desirable housing for them is at a deficit. They do not long to go into traditional nursing homes or big box assisted living facilities. They want to live in a community with full access to everyday life.

Assisted living homes are more to the liking of Baby Boomers. What is an assisted living home?

Residential assisted living homes for seniors are rooted in a top-rated sitcom from the 1980s.

Golden Girls painted a picture of living life as a senior in your way and on your terms. Likewise, the present-day residential assisted living home offers a similar concept with more support.

Assisted homes have in-house medical support to ensure one’s senior years are enjoyable, healthy, and safe.

Do you long to provide seniors with a place to call home?

Do you desire to help seniors live their golden years in peace with complete independence?

Since Talon and Christina are new to the senior living industry, they do not navigate by themselves.

Instead, they rely on the experts who educate and train them at Residential Assisted Living Academy.

As a national organization, RALA is fully equipped to guide investors and owners through various state laws, policies and regulations.

Understanding the legal waters of the senior living industry is essential to success.

What happens when policies, regulations, and laws make building your first assisted living home too challenging?

A COUPLE YOU SHOULD KNOW, TALON AND CHRISTINA

There is no better way to unfold the multiple-layered training benefits of the Residential Assisted Living Academy than hearing from previous students.

Talon and Christina, natives of Southern California, have risen through the ranks as an industry power couple. The source of their power is not a sundance of financial wealth but rather in their joint aim to make a difference.

Talon works professionally as a Healthcare Administrator, and his wife, Christina, works as a Phlebotomist.

Having met on the job, they fell in love, married, and started building their family.

Together, they also desire to leave a legacy, which is what brought Talon and Christina to the Residential Assisted Living Academy.

They understand quite clearly why assisted living homes are essential.

HOW TALON AND CHRISTINA GOT STARTED IN THE ASSISTED LIVING INDUSTRY

When Talon was younger, his grandparents needed viable living accommodations, but none could be found.

He remembers the stress and heartache his family endured.

Despite being a youngster, Talon says he still knew something was wrong – they were in a difficult situation and quite vulnerable.

Christina also understands, working with patients directly as a Phlebotomist, she acquires first-hand experiences of many social and medical challenges faced by seniors.

She says she’s seen how aging alone often results in immense depression. Christina says seniors need support, care, and companionship; many have none.

Christina’s passion compelled her and Talon to get involved in the senior housing industry.

In the same way, they found each other; this couple found their “big why” for going into business.

Talon’s family experience, coupled with Christina’s first-hand knowledge, grew into a cause. Together, they use their knowledge, experience, and passion to make a difference by changing the trajectory for many seniors.

They said amongst themselves, “Why not provide housing for aging Americans?”

Initially, they desired the first assisted living home to be close to their residence. Talon and Christina started navigating the murky waters of finding, renovating, and establishing an assisted living home in their community.

They were forced to consider other options.

RESIDENTIAL ASSISTED LIVING 3-DAY PROVES TO BE PRICELESS

Learning how to maneuver obstacles is one of the enormous benefits of the Residential Assisted Living Academy.
If your business encounters challenges, the Academy can help you with the necessary advice that suits your specific situation.

The RAL Academy motto is “Do good and do well.”

Making a difference in your community is meritorious. The goal is to positively impact senior housing while also making profit.

As a result, the power couple learned various options to explore.

TRANSACTING BUSINESS OUT OF STATE

The ramifications of transacting business outside of the state in which you live require legal expertise.

Do you have legal expertise? Most do not – this is not a problem.

However, the Residential Assisted Living Academy has a team of lawyers versed in assisted living rules, regulations, and laws across America.

Entrepreneurs do not have to be legal experts. Yet, it helps to have experts on speed dial.

Talon and Christina became overwhelmed with navigating the murky waters of the California legal code about assisted living homes.

The apparent restrictions and legal jargon started to discourage and intimidate them.

Talon and Christina, determined to make an assisted living home a reality, began to contemplate building or renovating one in another state.

Anxiety gripped the couple as they considered what it might be like to own a home many miles away.

They became disappointed – for the first time, they thought their goal was unachievable. However, just as discouragement began to creep in, they found help which revived their hope.

As members of Residential Assisted Living Academy, Talon and Christina have a group of legal experts and industry professionals who provide ongoing support.

They are not alone.

As a result, their dream did not die.

Presently, Talon and Christina are learning and growing, networking through the assisted living private Facebook group and connecting with other homeowners and trainers.

The decision to open their first home out of state is not nearly as overwhelming as they first thought it might be.

They received the expert support needed to succeed.

5 PROFESSIONAL TIPS FOR DOING BUSINESS OUT-OF-STATE

There are many things entrepreneurs must consider when conducting business outside of the state.

While everything can not be extrapolated here, the top 3 considerations are below.

  1. Getting Started: Qualifying for Doing Business Out of State
    A company that engages in intrastate business, meaning the company is headquartered in one state but conducts business in another, must ensure qualification in the non-resident state. Every state is different, but capability usually requires a company to complete the paperwork, publish some notice in the public domain, pay fees for the entity required, and designate a registered agent – either an individual or a company residing in that state – this is necessary for the acceptance of government documents related to legal actions or lawsuits against the company. Typically, registration fees fall between $100 and $300. Talon and Christina are currently examining this. They are determining what makes sense. Should the state border their home state of California? Can it be further away? What type of entity is required in various forms for an assisted living home?
  2. Taxes
    After a company registers in a state, it must pay state income taxes on the profits earned in that state. A corporation must pay a state’s corporate income tax, while LLC members can typically avoid double taxation by paying income tax on the profits earned in the state and receiving a tax credit from the resident state. A company must fulfill a state’s employment tax requirements – this is a significant consideration. In essence, Talon and Christina must determine how they want to be taxed? They must evaluate their current financial portfolio, understand with the help of Residential Assisted Living Academy professionals a variety of options, weigh their “why” against this, and make a decision. However, this is par for the course as an entrepreneur. Talon and Christina are growing and going in the right direction with their Residential Assisted Living Academy mentors and support system.
  3. Registration: A business that fails to undergo qualification with a state may be subject to:
    Late penalties: A state may charge a set fee amount plus a daily amount or a flat fee that will typically range from a few hundred dollars to a few thousand dollars.
    No legal recourse: Most states have “closed-door statutes” that will allow a court to delay or dismiss a legal action filed by an unqualified company. If a court delays an action, it may require the company to qualify and pay a late penalty before proceeding. If dismissed, a company may refile after qualifying and paying the applicable late fee as long as the statute of limitation does not prohibit the lawsuit.

While listed here, Talon and Christina need not worry about missing qualifications.

The Residential Assisted Living Academy system guides them through all of these necessary steps.

They only needed one important component, to be connected to the industry experts – it’s not about what you know, but who you know.

Talon and Christina have complete access to the well-qualified support team at the RAL Academy for ongoing assistance.

A WORTHWHILE INVESTMENT

The power couple, Talon and Christina, are facing the challenges of starting a business. It’s not always easy.

If it were easy, everyone would do it – this is why they secured the support needed to accelerate their process while saving time and money.

“It’s an investment well made,” Talon said.

The investment is well made because it is socially conscious while being financially sound and prosperous.

Talon and Christina want to make a difference in the lives of others. “We want to give back,” Christina said.

The two are deeply concerned about the plight of America’s seniors and building a legacy for their families.

This power couple is well on their way to success, and it begins with education and training.

Residential Assisted Living Academy has many couples like Talon and Christina.

Visit Residential Assisted Living Academy to start your journey of investing, owning, or operating your assisted living home today.

Philanthropy has its place and entrepreneurs fuels America’s economy, residential assisted living allows business owners to do both.

Do you long to make a difference in your community? Do you want to support seniors and help them age with dignity? Contact the experts at the Residential Assisted Living Academy today.

Entrepreneurs: This Is a Must If You Want To Succeed

Networking is not a novel idea. However, it takes many professionals a while to master. 

Business owners do not always have the luxury of trial and error when it comes to networking, as time is of the essence. 

Time spent away from the business is time lost if the benefit is not more significant or impactful to the running of the business.  

What does this mean? 

Professional networking for the residential assisted living entrepreneur is vital but must be strategically aligned. 

In residential assisted living, the number of regulations, changes in legislation, equipment adjustments, resident and family demands requires professional networking to be strategic.

The stakes are too high for anything otherwise.

Residential Assisted Living Academy is that option for assisted living homeowners and employees.

It is beneficial for proper professional networking for organizational advancement, innovation, and strategic alliances.

The 3-day fast track course offers an expert team of experienced professionals that makes networking comprehensive.

WHAT IS PROFESSIONAL NETWORKING?

Specifically, what is a professional network, and how does it foster growth and development in the assisted living homeowner?

Simply put, professional networking is focused on networking among like professionals. It is not the all-encompassing business networking, which fosters collaboration among multiple business disciplines to ensure efficiency and effectiveness. Professional networking takes on a different flare.

Professional networking might well be considered a closed loop. Specifically, professional networking builds collaboration amongst industry-specific professionals.

As a result, it strengthens the individual businesses as well as the industry internally. 

For the assisted living homeowner, Residential Assisted Living Academy is the premier professional networking organization.

It offers more than training and education. 

It fosters camaraderie amongst assisted living homeowners. It builds networks within networks. 

The organizational structure ensures alignment amongst professionals and builds a powerful national coalition with the potential to shape and frame policy.

The benefits of professional networking are immense. 

BENEFITS OF PROFESSIONAL NETWORKING 

Professional networking is powerful because of its concentrated attention and effort. Here are the most common benefits.

1.     Focus
The power of professional networking is in its focus. It is purposefully non-interdisciplinary – this means you will always get information specific to your line of business.  

2.     Industry Expert Access
Most small business owners would never have access to the subject matter experts of their industry. Membership in Residential Assisted Living Academy grants your personal access to the assisted living industry’s leading experts.

3.     Industry-Specific Legal Expertise
Lawyers may be a dime a dozen, but good lawyers are a rare commodity. Specific legal expertise for assisted living homes is hard to come by in most communities, but these rare practitioners are intimately associated with Residential Assisted Living Academy. They help homeowners from the inception to the operation of the home.

4.     Regulatory Knowledge
Senior living is a highly regulated industry, and rightfully so. The regulations governing the industry are immense and can be overwhelming for some. Residential Assisted Living Academy members receive guidance to navigate the murky regulatory waters. Additionally, regulations change, and members are updated as to these regulatory changes in real-time.

5.     Marketing Specific Knowledge
Learning about marketing strategies might be exciting, but if those strategies are not proven effective in the assisted living industry, learning and time spent might be in vain. Residential Assisted Living Academy members get proven industry-specific marketing strategies. Even more, it is curtailed to variances in state and local municipalities, demography, and economics.   

6.     Legislative Advocacy
National advocacy is a key aspect of membership with the Residential Assisted Living Academy. Shaping the industry with legislation is a unique advantage amongst assisted living homeowners. 

7.     Friends for Life
While building a thriving business is phenomenal, nothing trumps the company of like-minded friends. Relationship building is perhaps the most powerful benefit of professional networking. It is an essential part of the entrepreneurial journey that is often overlooked. It results in building and supporting the entrepreneur, which ultimately builds and supports the business.

WHO’S IN YOUR PROFESSIONAL NETWORK?

Professional networks are focused groups. Those associated with a professional network join with a goal in mind: to be better at what they do. 

This is true of assisted living homeowners; they align with Residential Assisted Living Academy to become better at owning and operating assisted living homes.

Professional networks may also include paraprofessionals that support and undergird the assisted living home. 

These professionals include:

  • Social Workers
  • Public Health Departments
  • Religious Leaders
  • Local governmental officials
  • Healthcare Professionals

While these people are not intimately aligned with your industry, they can offer significant support. Having them on speed dial is just as crucial as the assisted living homeowner who trained with you at Residential Assisted Living Academy. 

You may want to work with paraprofessionals that other homeowners have found effective. There is no need to reinvent the wheel.

WHAT SHOULD YOU DO NEXT?

Professional networking is a purposeful endeavor. Unlike business networking, which happens quite commonly in communities throughout the nation, professional networking requires research. 

It is specific and often comes with personal responsibility.

Those who network professionally are very intentional – they are focused and diligent about executing the intricacies of their businesses. 

Four questions you should ask yourself as an entrepreneur should include:

  1. How intentional are you?  
  2. Do you intend to position yourself as an industry expert?
  3. Can you see yourself growing into a mentor within your industry?
  4. Do you want to shape the industry in which you operate?

Residential Assisted Living Academy is a professional organization focused on developing and continual support of assisted living homeowners. 

Aligning yourself and your business with Residential Assisted Living Academy provides significant benefits. 

Beginning with an intense, but comprehensive 3-day course, with no end in sight, membership opens entrepreneurs to a national network of like-minded professionals. Contact Residential Assisted Living Academy today and join a network that never stops giving.

This Character Trait Sets Some Entrepreneurs Apart From The Rest

It’s a bird; it’s a plane; it’s Superman. Many entrepreneurs take this motto personally. Powerful as it may be, it does very little for the entrepreneur beyond building self-confidence. 

Strength and X-ray vision will get an entrepreneur only so far. 

Yet, Superman possesses a unique quality often undervalued and overlooked by viewers that sustained him.

What is it that makes an entrepreneur successful?

What unique quality does a successful entrepreneur possess that seems to escape others?

ENTREPRENEURS WITHOUT THIS TRAIT HAVE A MUCH LOWER CHANCE OF SUCCESS

It is no secret – influential entrepreneurs work hard, long hours. It is equally no surprise that they practice their skills or arts daily and have discipline beyond the norm. 

However, this is still no guarantee of success?

Think about it. 

If hard work and tenacity were the secret ingredients to entrepreneurial success, millions would occupy their businesses. There has to be something more.

Strategy is essential – this much is known, but great plans fail daily due to market conditions, human resource flaws, or any number of other circumstances. 

There must be something beyond strategy contributing to entrepreneurial success.

Careful examination of the world’s leading entrepreneurs and the entrepreneurs that have successfully sustained viable businesses in local economies is telling. 

Successful entrepreneurs possess a unique quality that escapes others. It’s emotional maturity.

WHAT IS EMOTIONAL MATURITY? 

Emotional maturity is simply being in touch or aware of one’s own emotions. Even more, having the wisdom to leverage those emotions is critical to long-term success.

Have you heard of the term Emotional Intelligence? 

Many refer to their “E.Q.” to convey their self-awareness – this is synonymous with Emotional Maturity. 

It is an entrepreneur’s secret and critical weapon.

Those in tune with their emotions make better decisions. Decisions in business are critical. One wrong decision can end a company as one good decision can catapult it.  

Entrepreneurs with Emotional Maturity are very much like Superman, in that it is like a super power. 

They know when to flex their strength but are just as confident as Clark Kent. These entrepreneurs know when to listen intently, when to examine thoroughly and when to jump at an opportunity.  

For many entrepreneurs, emotions are a hindrance or deficit. They have no control over them and cannot think clearly when in certain emotional states. 

Yet others, the successful ones, use their emotions to build their businesses.

Successful entrepreneurs are not one person at work and another at home. Successful entrepreneurs are entirely in tune with their emotional state of being and can respond appropriately.  

DEVELOPING EMOTIONAL MATURITY REQUIRES INVESTMENT

The entrepreneur must obtain an honest perspective about the state of the business, their abilities, and the capacity of employees. 

The investment required is easier spoken than done, but the key is, to be honest.  

When self-honesty becomes a priority, Emotional Maturity is realized, and there are extraordinary results from possessing it.

Four Results of Emotional Maturity 

  1. Strong Teams

Emotionally Mature entrepreneurs build strong teams. How? Those who lead and possess emotional maturity recognize the capacity of their business. They work to develop people into better professionals, not just better workers. Emotionally Mature leaders recognize the whole person and do not view their employees as necessary pawns to achieve their success. 

  1. Increased Business

Emotionally Mature entrepreneurs earn more business than their competitors. Why? Emotionally Mature entrepreneurs possess a confidence that is void of arrogance. They are not desperate or cocky. They fully understand what their business can and can not do. Emotionally Mature entrepreneurs offer very little glamour but exude calm strength with a focus on effective execution. Customers and other companies want to be confident in the product or service they receive and want it delivered within the agreed time. Therefore, Emotionally Mature leaders tend to secure more work for their businesses.

3. Better Decision Making

Emotionally Mature entrepreneurs are excellent decision-makers. Many conduct comprehensive S.W.O.T. analyses, where the business’s internal strengths and weaknesses are weighed against the external opportunities and threats. Emotionally Mature leaders also conduct extensive pro/con Analyses. But, perhaps the most telling is their ability to capture honest feedback from other business leaders and, most notably, their employees. Employees in a business with an Emotionally Mature person as the leader are free to express their thoughts and concerns. Their leader has invested in them professionally, which also builds them personally. Like their leader, they do not necessarily have to be one person at work while being someone else at home. Likewise, they are empowered to make decisions and accustomed to the stakes. These people are perhaps the leader’s most reliable counselors. Only an Emotionally Mature entrepreneur can handle honest feedback and counsel from a subordinate.

4. Resilience

The adage is true of Emotionally Mature entrepreneurs. They can take a lickin’ and keep on ticking. Defeat is not destruction. Disappointment is devastation. These are considered setbacks, which are great lessons for the leader and the business. As such, resilience becomes not just a personal quality but an organizational trait. Resilient businesses do not disappear. They grow.

7 PRACTICES FOR ACHIEVING EMOTIONAL MATURITY

As mentioned earlier, cultivating Emotional Maturity is a sheer act of will. One must embrace the truth to develop it.  

Below are seven practices that successful entrepreneurs perform to develop and sustain Emotional Maturity

For clarity’s sake, do understand the seriousness of these practices. Success is contingent upon them:

  1. Seekers of Self-mastery

The leader seeking to be emotionally mature is a master of himself. He is careful to build himself in a way that is conducive to living optimally. Seekers of Self-mastery:

  • Take care of their bodies by exercising, eating well, sleeping sufficiently, and adhering to sound medical advice.
  • They manage their relationships with purpose and care.  
  • They are centered spiritually.
  • They study their business like a lawyer does Constitutional Law. They know their business, and they never stop learning about the industry. They are forever students.
  • They are ferocious readers. They want information that is useful to them ultimately.
  1. Emotionally Intelligent

Perspective is essential. One gain’s a proper perspective by considering information objectively. Emotionally intelligent people accept the reality that problems will come. Whether you want them or not, problems are a fact of life. Therefore, emotionally intelligent people anticipate problems and deal with them objectively. Regarding the business, the problem is not a personal one, but an entity one. Therefore, help from experts within the company can be enlisted to solve it. They stay calm, which keeps others steady, and objectivity and creativity can flourish when emotionally intelligent people are leading. 

  1. Positive Attitude

A mature person is a positive person. They believe that hard work, patience, and persistence will pay off. These people operate with such a harmony that others follow suit. These leaders are accessible and approachable. Their teams are empowered and accustomed to their leader working with them, not looking at them. Winning solutions become visible when leaders are positive because teams are high-performing. Fear and stress are paralyzing, but positivity is invigorating.  

  1. Independence

This independence is not that of a renegade or rebel. The freedom referred to here is the personal growth over time which allows one to be independent. Through consistency and experience, these leaders cultivate a mindset that is composed of sound principles. As such, they are resilient, fearless, humble, and purposeful. They do not follow the crowd; the crowd follows them.

  1. Delayed Gratification

Simply put, they can wait. Leaders avidly working on Emotional Maturity do not build businesses for immediate gratification or attention. They build businesses to fulfill their purpose. Sure, they want lovely homes and vehicles like anyone else, but nice homes and vehicles are not the reason they develop their business. Therefore, the company is less a means to an end and more a journey of fulfillment.  In actuality, leaders who are actively developing and sustaining Emotional Maturity are pretty gracious and giving. They are thankful for all efforts made and generous with their employees. They know that even if something has gone awry, it will be the employees, those on high functioning teams, who will bail the business out of trouble. As long as they can delay what they want, give others what they need, in the end, the entire organization wins.

  1. Integrity

The truth drives emotionally mature people. They want to know, hear, and work within the bounds of reality regardless of how hurtful it may be. They do not want anything “sugar coated,” as it results in misinformation, poor decision making, and unnecessary organizational pain. They are open-minded and willing to hear the uncompromising news as long as solutions can improve the state of things. They want the truth because they live by the truth.

  1. Responsibility

Those building and sustaining emotional maturity do not engage in the blame game – it’s beneath them – they long to take responsibility. It is a part of entrepreneurial independence. Leaders who take responsibility weigh the factors of every decision heavily. They anticipate how well a decision can go as well as how awful it can be. They relish accountability and have accountability partners to keep them in line with their business’s purpose, vision, and mission.  

THE REAL SUPERHEROES OF ASSISTED LIVING 

It’s not a bird; it’s not a plane; it’s an entrepreneur who is Emotionally Mature

Clark Kent was a consistent reporter. He was an excellent writer and showed up to work every day looking for an opportunity. As such, he always found one, and he helped a lot of fictional characters, but you can help real seniors live quality lives.

The Emotionally Mature entrepreneur is needed today. 

Those with a steady hand, a calm but confident voice, and independence command respect without asking.  

The Residential Assisted Living Academy strives every day to develop Emotionally Mature individuals. 

The nation’s seniors need housing that suits their needs and wants. 

It will take an Emotionally Mature individual to build and brand your assisted living business. 

Contact the Residential Assisted Living Academy today to soar above the competition.

Finding Success with RALA: Julie & Dean

So often, the owners of Residential Assisted Living Academy are asked what it’s like when an operator is in full swing. 

In essence, what does this life look like when one is fully engaged and doing well? 

Residential Assisted Living Academy has many students who are doing quite well in the senior living industry. 

Whether independent homes of 4-8 beds to more extensive assisted living care with more than 15 beds, Residential Assisted Living Academy students thrive. 

Here’s how it happens.

RESIDENTIAL ASSISTED LIVING ACADEMY STUDENT SUCCESS

For many of our students, it begins with hearing. 

Julie Kern of Taylorsville, Georgia recalls, “I was running on my treadmill, listening to an episode of The Real Estate Guys Radio Show when I heard an ad that went something like ‘Do you want to find out how to generate $10k cash flow from a single-family residence?'” 

Of course, she said to herself, “Yes,” quite possibly out loud, speaking only to herself—the clarion call aligned with a genuine desire in Julie to make a difference and create wealth simultaneously.  

Julie’s real estate career began in November 2014 after undergoing a solid education. 

She likes to take action and develops clear goals for herself. 

While experiencing success in her endeavors as a flipper, renovator, and wholesaler, Julie also began purchasing apartment complexes. 

She wanted to buy more because she wanted her husband to have the opportunity to retire within the next three years.   

To achieve this goal, Julie planned to secure a sufficient amount of apartment units to replace the income her husband generated with his 9-5 daily grind. 

However, after speaking with another investor buddy, Julie was asked a specific question:

“What do you want? Units or Cash Flow?”

Upon reflection, Julie realized she wanted “cash flow.” If that could be achieved without increasing “units,” then why not? 

She enjoyed the multi-family market and loved the idea of housing many people. But suddenly, realizing she restricted herself too much, running on a treadmill one day, she heard, “Do you want to find out how to generate $10k of cash flow from a Single-Family Residence?” Stunned by the question, her answer was “Yes.”

Today, Julie is experiencing the best of both worlds. 

World #1 maintains her in-depth involvement in real estate, even commercial real estate. World #2 witnesses a transition from securing 24–36-unit apartment complexes to Julie and her husband pursuing opportunities associated with increased cash flow regardless of property size. Together, they begin a journey of purpose and wealth in the senior living industry. 

Like many successful Residential Assisted Living Academy students, Julie followed a particular sequence leading to their success.  

1.     Personal Research

Having heard the radio broadcast, Julie engaged in a personal research expedition. She scoured the internet for information about Residential Assisted Living Academy and the senior living industry in general.

Examination of demographic studies throughout America, but specifically in Georgia, resulted in intensifying interest and desire.

2.     Training

Julie and her partner completed at-home online training with Residential Assisted Living Academy.  

Application of the activity took immediate effect, and the two began analyzing the greater Atlanta Metropolitan area for potential properties and sites.  

State and county regulations enlightened them about restrictions for senior living facilities of all types.  

Financial analysis revealed that the sweet spot for residential assisted living homes is between 5 and 10.   

Many potential and actual obstacles emerged at this time, but their desire to make a difference and leave a financial legacy fueled their pursuit all the more.

3.     Development

Julie and Dean then attended the 3-day Virtual Training. This training provided a comprehensive overview with depth.

The in-depth training exposed them to regulatory information but also standard practices that reap great rewards.

Their excitement morphed into intensified purpose – they did more than analyzing after attending this training – they started building their business.

4.     Action

Julie and Dean are an ideal partnership. Common interests are good, but someone with a similar work ethic is best.

Julie is action-oriented, and she says of Dean, “he’s uber action.” In other words, he takes the bull by the horns.

Julie and Dean discovered that action-oriented people find or are met with opportunity.

  • A contact within the real estate market brought them two properties owned by a couple ready to retire from senior living.
  • Property #1: a 15-bed personal care home
  • Property #2: a 20-bed personal care home
  • Both properties were lower-income generators, but with proper investment, they could generate excellent cash flow. The properties were rather distressed, and while not their preference fit their experience. Each had flipped and renovated homes.
  • Their Goal is a luxury senior living home.

5.     Procurement

With no debt on the property, owner financing could create a win-win scenario for both parties.  

After negotiation, the owners were willing to finance, and the homes were Julie and Dean’s.

Most students begin with one home, but with Julie and Dean’s real estate experience and drive, this opportunity suited them well.

Inherited with the properties were an entire staff and 22 residents. The properties were plagued with a vacancy which became an immediate problem to solve.  

With renovations an absolute necessity, the 20-bed home was closed immediately, and some residents were relocated into the other home. Displaced residents were transitioned to comparable homes smoothly, and revitalization began.

6.     Results

Julie and Dean’s results are astounding. Their vision of a luxury senior living facility is coming to pass as intended.

Meal quality has increased dramatically from canned food-based cooking to chef-quality nutritional planning and prepared meals.

The 15-bed home, Watermark I, is now a 16-bed home and is steadily being renovated cautiously, as residents live in the home.

The 20-bed home, Watermark II, is under intense renovation. It will be a luxury boutique-style home, while Watermark I is a more affordable community-style home.  

Staffing is always a challenge, but the core employees have remained. Julie and Dean have begun interviewing for the luxury property.

The residents in Watermark I are delighted. Julie and Dean have relationships with each other. Purpose and profit don’t need to be mutually exclusive. Julie and Dean have found that the two dynamics go well together when the aim is to help someone else.

THE SUCCESS OF JULIE AND DEAN WITH RESIDENTIAL ASSISTED LIVING ACADEMY

Julie and Dean are not accidents – their success is not luck at work. Instead, their success is due to their intense commitment. They did not haphazardly meander through the process of training or avoid it altogether. Instead, Julie and Dean began learning about senior living with Residential Assisted Living Academy.  

Additionally, Julie and Dean labor daily to ensure their business maintains integrity and serves the residents well. 

For them, it is a God-given opportunity and responsibility. They have finalized the mission statement for the Watermark Properties.

 “At Watermark Senior Living, our mission is to show the love of Christ to our resident family by instilling in each individual a sense of purpose through physical activity, social engagement, mental stimulation, and spiritual growth.”

  • Do you know what success looks like?
  • Can you grasp the degree of commitment it takes to enjoy success in the senior living industry?
  • Do you desire to marry purpose with profit, making a difference in other’s lives?

Julie and Dean’s business is the “Watermark” of success. 

They are thriving because of their desire and training with Residential Assisted Living Academy. Do not delay. 

Register for the 3-day course today, today at Residential Assisted Living Academy. It’s time for you to reach and exceed your watermark.

Success with RALA: Alou

Accountability is a word resounded in many corporate board rooms, office cubicles, or, more likely today, team Zoom meetings.

One Residential Assisted Living Academy student, Alou, is using her networking resources as a former student to gain continued support.

As a result, Alou has been gaining accelerated success.

Accountability has become a core value of many businesses, charitable organizations, universities and colleges, and sports teams.

America seems enamored with accountability, but is it taken as seriously as the term demands?

Entrepreneurs must mirror Alou and be willing to hear where they have veered wrong, could have done more, or how efficiency should have been exercised.

Accountability is not punitive, but rather honest, constructive criticism that bolsters performance.

Accountability partners are vital for any entrepreneur.

There must be someone who can be of counsel, advise on measures to be taken, or be a sounding board for new ideas and frustrations.

An accountability partner is also keen on getting an entrepreneur to see reality.

Many entrepreneurs are too close to the business to see its objective performance – this is especially the case with new entrepreneurs and their new companies. An accountability partner has a way of removing the ideological vision and helping the entrepreneur see the reality.

Experts at the Residential Assisted Living Academy supported Alou as her accountability partners.

As a result, Alou was able to see where things were falling short or doing well.

Students of the Residential Assisted Living Academy work with accountability partners. It is essential to their development and the success of the assisted living homes they operate. Many have found their accountability partners to be more critical than a banker or private investor.

They are not remiss in thinking so, as an accountability partner can make the difference in the entrepreneur’s success or failure.

WHAT IS THE ROLE OF AN ACCOUNTABILITY PARTNER?

Similar but not identical, accountability partners differ from mentors significantly.

Mentors are more experienced.

A mentor tends to be someone beyond the entrepreneur, someone tenured or well versed in the industry. Entrepreneurs solicit mentors because of the respect the entrepreneur carries for the mentor.

Accountability partners tend to be peers. These people are in the fight with you. They are not beyond the entrepreneur’s purview, experience, and often within a few years in terms of age.

While the latter is not necessary, accountability partners tend to be people with whom the entrepreneur associates professionally and personally.

Accountability partners support the entrepreneur by:

  • Keeping the entrepreneur on track.
  • Reminding the entrepreneur of established goals.
  • Helping the entrepreneur celebrate milestones.
  • Gentle but firm rebuke when the entrepreneur slacks in pursuit of goals.
  • Helping the entrepreneur reset after a loss.
  • Reminding the entrepreneur of their “Why.”

The most successful business professionals have accountability partners. Entrepreneurs must choose someone who compliments their personality and understands what motivates them.

At first, some considered such a person unnecessary as most entrepreneurs prefer to answer no one other than themselves.

However, a few months in business teaches all entrepreneurs that the mission is better undertaken when someone is present or available for consultation and remembrance.

Owners of residential assisted living homes must remember that success is more than profitability.

Success is the establishment and operation of a high-quality assisted living home. It is the resident’s happiness, comfort, and engagement that must be achieved at all times.

WHAT ARE THE BENEFITS OF AN ACCOUNTABILITY PARTNER?

What’s the point of the following two sayings for the entrepreneur? While many entrepreneurs prefer solitude, too much of it renders ineffective execution. Even wolves recognize this. While an Alpha wolf prefers to be a lone wolf, he realizes that the hunt goes much better with the company.

  • Have you ever heard the adage, “No man is an island”?
  • How about “It is not good for man to be alone”?

As an entrepreneur, the mark of leadership is your ability to get more done through others. If you must do everything, your scope will be restricted, and burnout assured. An accountability partner can help you remember this and aid in the creation or adjustment of goals.

To leverage an accountability partner best, consider:

  • How and what will the evaluation process consist of?
  • What is an acceptable reaction when you forego the chosen path?
  • What level of ownership will you take for the actions you commit?
  • What will be the compensatory measure or task? When an entrepreneur derails, some sort of compensatory action is necessary to prevent further or future derailment.

Accountability partners are with the entrepreneur every step of the way. They are present or consulted with strategy, goal setting, milestone creation, even human resource management.

The benefits of accountability partners are as vast as they are profound. Accountability expands beyond professionalism and takes hold in one’s personal life.

Many entrepreneurs comment that their entire lives are improved with accountability partners at work, home, or the gym.

When accountability becomes a way of life, the benefits are immense. Here is a shortlist of what you can expect.

  • Improved Performance: Entrepreneurs working with accountability partners work better and harder. When an entrepreneur understands someone is watching or interested in the performance of their business, innately, this drives the entrepreneur. Research has even shown that entrepreneurs who make goals publicly known have more than a 60% chance of succeeding. However, those with accountability partners have over a 90% chance of succeeding. Why? It’s personal. Remember, no man is an island, so having someone on that island with you reminding you of your plan to build a boat works.
  • Focus: Accountability partners typically have scheduled meetings with the entrepreneur. By nature, entrepreneurs do not like to disappoint; therefore, those with accountability partners tend to stay on track. They tend to be more productive because they want to get a good report. Sound elementary? Elementary it may be, but it works. However, when things do not go well, accountability partners help entrepreneurs who may very well be overwhelmed by reordering tasks, setting more milestones, ensuring the goal is S.M.A.R.T. (Strategic, Measurable, Attainable, Realistic, Timely).
  • Time Management: Accountability partners are great for time management. They help the entrepreneur reach goals by establishing fixed public deadlines. These dates do not move. They are stringent to evaluate performance and understand the business and the entrepreneur better. Was goal attainment achieved as scheduled? If not, why?
  • Centered: Accountability partners enable entrepreneurs to stay grounded. Success has a way of mystifying life for entrepreneurs, and accountability partners demystify and keep the entrepreneur mindful of their “Why.” Accountability partners also paint a realistic picture for the entrepreneur, lest they become too optimistic or pessimistic.
  • Perspective: Small problems are best handled when small. If left unattended, they morph into colossal travesties. Accountability partners help entrepreneurs identify issues when they are still small, so they do not suffer because of neglect.

HOW TO CHOOSE YOUR ACCOUNTABILITY PARTNER

The choice is yours, choose wisely. Entrepreneurs must choose someone who compliments their personality and understands what motivates them.

Your accountability partner needs to “get you;” as in deeply understand what drives you. The accountability partner must be able to breakthrough to the entrepreneur readily.

When choosing an accountability partner, consider:

  • Select someone with incredible self-discipline.
  • Select someone who can challenge you adequately, compelling you to do more and be more.
  • Choose an objective person, not a friend or family member who is invested in you emotionally.
  • Do you want to impress this person? If so, choose them.
  • Find someone interested in your goals, plans and who does not mind taking time to counsel with you about them regularly.
  • Work with someone who does not mind lifting your spirits, especially during tough times. Every entrepreneur needs a cheerleader. Pom-poms are not required, but certainly, a chant or two is nice.

EFFECTIVE ACCOUNTABILITY

Many entrepreneurs, to their doom and dismay, forgo accountability. They expect it for others but reject it for themselves.

Countless businesses suffer or even close because of a lack of accountability – this need not be your experience.

The Residential Assisted Living Academy is an incredible organization.

Experts at the academy help entrepreneurs learn the industry within a 3-day intense course.

Alou is one of our students that shares her experience with one of our organization’s accountability partners.

This relationship is organic and propels Alou to new heights while keeping her grounded and ever remindful of her “big why.”

Contact the Residential Assisted Living Academy today and begin your accountable journey to purpose and profitability one home at a time.

Financing A Residential Assisted Living Home: Loans

Have you tossed around the idea of purchasing an assisted living home? Everything you need to know about financing the deal can be learned at the Residential Assisted Living Academy.

This blog will provide you a glimpse into the important aspects involved with financing your business.

There is a method to the madness.

If you want to invest in senior living, securing financing is usually a critical step. Here’s how you can achieve your dream of owning a residential assisted living home.

WHY RESIDENTIAL ASSISTED LIVING IS A THRIVING BUSINESS VENTURE

Americans are living longer. Not only are Americans living longer, but they are also living healthier lives.

Thanks to early diagnosis, intervention, prevention, and modern medicine, the life expectancy for Americans has increased.

The percentage of Americans who have made it to 90 has nearly doubled since 1980.

By 2050, Americans reaching 90 years of age will double again, according to estimates. Senior living is more than an option, it’s a necessity. Senior housing is in high demand because baby boomers require housing that is appropriate for them.

Living at home alone or with working adult children is not the best option for vibrant seniors.

However, living amongst peers with similar experiences and common interests makes for an active lifestyle.

Investors should have a working knowledge of funding avenues for assisted living homes to position themselves at the forefront of the senior tsunami.

SECURING A LOAN TO FINANCE YOUR ENTREPRENEURIAL DREAMS

The SBA 7(a) loan is a viable solution to answer the question of financing. It is considered one of the most popular loan types for assisted living homes.
This blog article will explore the following 5 steps about SBA 7(a) loans:

  1. How do these loans work?
  2. How can an investor qualify for this loan?
  3. Where to apply for these loans and what lenders are approved to dispense them?
  4. Top lenders of this loan type.
  5. Necessary documentation for these loans.

HOW SBA LOANS WORK?

The Small Business Association’s 7(a) loan is perhaps the most popular loan product offered by the Small Business Administration.

Other Options for SBA Loans

  • Real Estate (25-year term)
  • Working Capital (10-year period)
  • Equipment (10-year period)
  • Debt Refinance
  • Change of Ownership

Interest rates generally range from 7.75% to 10.25%. This loan is not a “one-size-fits-all” loan product, and the SBA does not govern it as if it is.

What does this mean to you as an investor? You may secure additional financing elsewhere.

While the SBA has been generous, some assisted living homes will cost more to acquire than the maximum lent through the SBA.

Therefore, make sure to look for and secure other options if needed.

What Do I Need to Qualify for an SBA 7(a)? Qualifying for the SBA 7(a) loan can be a lengthy process.

Qualifying Factors Concerning SBA Loans

  • SBA loans only benefit for-profit companies.
  • The SBA website lists information for public consumption.
  • The SBA wants to see your private money as a source of support for the business.
  • Have a net revenue of less than $7.5 million.
  • Have less than 500 employees.
  • Have a net income of less than $5 million.
  • Possess a net worth of less than $15 million.
  • Have obtained other forms of financing first (such as personal assets).
  • Do business within the United States of America.
  • Have certifiable proof of no other delinquencies on any other loans.

The SB wants to know that you are owning and operating a small enterprise in the United States and make sure you can repay the loan.

WHERE DO I GO TO GET AN SBA 7(A)?

You do not need to visit the Small Business Administration, because various lending institutions dispense loans.

Bank loans have an SBA guarantor.

In this way, the SBA ensures that, if you are delinquent, a certain amount of the loan is covered. The standard 7(a) is guaranteed up to 85% on loans up to $150k.

Loans that are greater than $150k are guaranteed up to $75%. Therefore, understand that the SBA will not take applications for a 7(a) but are rather guarantors for loans dispensed by multiple institutions for assisted living homes.

The Top 10 Lenders for The SBA 7(A) For Assisted Living Home Financing

Many banking institutions offer loans that are SBA 7(a) certifiable. However, some do better than others with the process and approvals.

Below are the top 10 lenders, the SBA 7(a).

These lenders rank based on the number of loans dispensed and the value of those loans.

The following is a list of the top 10:

  1. Live Oak Bank distributed 692 loans valued at $1 billion.
  2. Wells Fargo Bank dispensed 2,316 loans with a value of $619 million.
  3. Huntington National Bank dispensed 2,731 loans valued at $500 million.
  4. Newtek Small Business Finance dispensed 679 loans valued at $467 million.
  5. Byline Bank dispensed 342 loans valued at $407 million.
  6. Celtic Bank Corporation dispensed 584 loans valued at $368 million.
  7. JPMorgan Chase Bank dispensed 1,428 loans valued at $361 million.
  8. First Home Bank dispensed 1,185 loans valued at $304 million.
  9. US Bank dispensed 1,976 loans valued at $288 million.
  10. KeyBank dispensed 389 loans valued at $217 million.

The above-listed institutions are phenomenal when it comes to the SBA 7(a). If one lender is unimpressed with your resume or business plan, do not fear.

The list is plenteous, and you are bound to find the right lender for your project. There is a method to securing an SBA 7(a) loan:

  • First, begin with banks familiar with the program and are currently writing the 7(a) products.
  • Second, work with the larger banks before approaching the smaller ones
  • Third, examine the lending institution’s Approved Loan Count to Loan Volume Ratio.

By examining these criteria, you will gain valuable information that will help predict an approval or denial.

WHEN APPLYING FOR AN SBA 7(A) WITH A LENDER, WHAT INFORMATION DO I NEED?

Information is more valuable than gold in many instances, because we live in the information age.

So, what information will an SBA7(a) lender require from you?

Here is a list that is general, but quite applicable across multiple lenders:

  • Your credit scores
  • Business plan
  • Collateral
  • Profitability

THE EXACT DOCUMENTS YOU WILL NEED

For many first-time investors or business owners, documentation may be overwhelming. Do not disregard your dream of owning an assisted living home because of the preliminary work.

You will not undertake this alone.

The loan officers at many banks will assist you along the way. Documentation is essential because it tells a complete story.

In general, institutions will require three years of business and personal tax returns and current financial statements.

Financial statements provide a comprehensive picture for lenders to process SBA 7(a) appropriately.

The Residential Assisted Living Academy is the leading organization that educates, trains, partners, and supports owners of assisted living homes from start to finish.

Remember, not all assisted living homes qualify. A home must be licensed appropriately.

GETTING ONE STEP CLOSER TO OWNERSHIP

Before obtaining any loan, you will want to network with successful people in this industry.

Practicality is the best strategy. Use the resources at the Residential Assisted Living Academy to learn everything from A-Z to start owning and operating your assisted living business.

During the 3-day course, you will be able to ask questions and network with other professionals in the industry.

Experts at the RAL Academy are more than glad to help. The SBA 7(a) is only one loan type; there are others, and our professional staff can channel you in the right direction.

The Baby Boomers set off a population boom in this country after World War II. Now, they are redefining the infrastructure of senior housing nationwide.

As a result, small residential assisted living homes are in high demand across the country.

Gene Guarino and industry experts at the Residential Assisted Living Academy will help you get your project off of the ground.

Contact www.RALAcademy.com and receive the education, training, and knowledge needed to operate a successful assisted living home.

Simple Steps for Creating Brand Identity

Brand building elements for starting a residential assisted living business starts with the power of art.

There’s an old adage that says, “A picture is worth a thousand words.” Pictures communicate what words alone fail to articulate.

Through its color, shapes, shadows, and lighting, a picture or image conveys a message that words alone in their traditional outlay cannot communicate.

Why is this the case? It’s called art.

Art stimulates thoughts, emotions, beliefs, and ideas through intimate connections with one’s senses. Whether complex or straightforward, art continues to awaken the hearts and minds of viewers.

The power of art extends far beyond the elegant halls of galleries and museums.

Perhaps, the most powerful display of art is within the realm of advertising and marketing.

CAN YOU FEEL THE SENSATION OF YOUR BRAND?

In the realm of advertising and marketing, art is central to the success of any business. While the world revels over Science, Technology, Engineering, and Math, it is the power of marketing that makes the arms of an economy push and pull.

Art is the images formulated by marketing engines that create or resituate artful photos and graphics that resonate with consumers.

These images evoke an emotional reaction or connection with a product that no word alone could ever accomplish.

When consumers gain an emotional connection to an image, a certain magic happens – this is called brand loyalty.
Brand loyalty is the consumer’s affection for a brand beyond its performance.

It is illogical but yet it is logical to the consumer. The consumer has an emotional connection to a product based upon the branding – brands can be felt.

Great brands will create emotions such as:

  • Comfort
  • Security
  • Wellbeing
  • Creativity
  • Solace
  • Benevolence
  • Inspiration
  • Relevant

The product itself does not create brand loyalty. It is the presentation of the product and the associated images that draw the consumer’s emotions into the transaction.

Together, these components make it an emotionally fulfilling event – this is the power of art in action.

HOW TO BUILD A BRAND

Brands do not just happen, especially not in the residential assisted living industry. They are the result of detailed research, testing, and hard work.

To build a successful brand, a business must:

  • Intimately know the problem consumers face.
  • Create a process to resolve the consumer’s issue consistently.
  • Create a brand identity, so consumers identify with the solution to their problem.

At first glance, the process above seems simple, maybe even trivial. While three steps are listed, the intricacies of each stage are vast.

Those entrepreneurs who take the time and effort to complete these steps thoroughly will launch successful brands in the marketplace.

  1. Intimate Knowledge of Consumer’s Problem: Hearing of an individual’s struggle or problem is one thing, but to feel the residual discomfort or pain caused by the battle is another. The feeling of pain, discomfort, disappointment, fatigue, or anxiety caused by a consumer’s problem gives the entrepreneur an intimacy with the situation. In other words, the problem and its effects become fundamental to the entrepreneur. Engaging the entrepreneur’s emotions causes this intimacy, and the work to create a process to resolve becomes a sole focus.
  2. A Process for the Problem: Not all entrepreneurs are masters of technology, products or services. Critical to the success of any entrepreneurial endeavor is the process. Have you ever thought, what constitutes a business? The answer is simple – a duplicatable process. It is the process that solves the consumer’s problem. The result of a successful strategy is a successful product or service. Once the process is refined and efficient, the entrepreneur has a solution that can be duplicated.
  3. Associate a Brand with a Problem: This is where marketers and advertisers come into the picture. They must observe what the entrepreneur has processed. They must listen to the entrepreneur relate the pain or desire of the consumer. It is imperative that the branding is correct. It must be as precise as the process created by the entrepreneur. The marketers must:
  • Identify and tier to consumers.
  • Create images that communicate resolution to the consumer’s problem.
  • Associate those images with the problem consumers experience.

Building an effective brand takes work.

However, to those who take the time to understand the consumer’s present experience, the work associated with solving a problem is more of an exploration and adventure than a grueling task.

The ambitious entrepreneur is on a mission, and failure is not an option.

THE VALUE OF A BRAND

The value of a brand is not a simple calculation. It is more than the revenue associated with a product or service.
The value of a residential assisted living brand is evident in its identity. The value of a brand is a combination of:

  • Customer Loyalty
  • Customer Retention
  • Competitive Advantage

Sales revenue does factor into brand value, but the above three elements sustain the brand. Customer loyalty speaks to the emotional connection the brand has with the consumer.

Customer retention is the reliability of the brand.

The emotional bond is unbroken because the product or service solves the consumer’s problem.

By connecting a particular brand to a consumer’s emotions, customer retention becomes robust.

Branding is most effective when the product solves the problem. Competitors will struggle to get inroads in your market segment.

Even if a competitive product is better, consumers gain an emotional connection to reliable brands.

Consumers see no reason to switch when they are satisfied. Their pain diminishes, and there is a solution to their problem.

EVERY BRAND HAS A PERSONALITY

What makes such a strong emotional connection to a brand? Beyond the pain point, successful brands have personalities.

Consumers become acquainted with the brand as if it were a friend.

Strong brands will resonate human characteristics with the consumer. This personality makes for the strong bond between consumer and product. It is as if the consumer knows the brand and the brand the consumer.

Achieving effective branding causes consumers to share their experiences. The similarities will be striking, and the word will spread.

People will tell others what the product can do.

They will articulate the nature of the service so that others who are still suffering will undoubtedly believe the current users.

As a result, others will secure the product immediately. Later, they, too, will articulate the personality of the brand.

BRAND AWARENESS IN THE ASSISTED LIVING INDUSTRY

Assisted living homeowners should embrace branding just as much as any other entrepreneur.

It is vital to the home’s existence. It builds awareness and gives the house its place in the community. Consider the following:

  • What is the pain point associated with senior housing in your community?
  • What is missing, lacking, or poorly provided in terms of senior housing?
  • What do seniors want as it relates to senior housing?
  • What do family members want in terms of senior housing?
  • Is there a need for high-quality memory care?
  • What are the demographics of your community?

The answers to these questions will give the assisted living homeowners an idea of the nature of the need in the community for senior housing.

In addition, investors will want to know this level of exploration exists. The specificity of the home will become the driving force for its identity.

What images are associated with the present problem of seniors living in your community?

The assisted living homeowner may not be a marketing specialist. Therefore, secure one as soon as possible.

Get the right image, colors, shadowing, size, and font.

Make sure the vision aligns with the type of service given at home. Also, ensure the image is on all literature, entry and exit ways, on the walls at specific places throughout the house, and on every electronic medium used.

Lastly, the assisted living homeowner should make sure the brand becomes a community-wide recognized emblem.

Everyone should be able to associate the brand with the assisted living home.

It should communicate both the problem and the solution.

It should evoke an emotion in the viewer, and if the process is solid and efficient, the service will adequately align with the brand – the result is brand loyalty.

Other homes may enter the same marketplace, but if your brand is strong, they will steer clear of it.

They will instead build another brand to resolve a particular problem. However, if the market is large enough, they may attempt to mimic your brand because of its strength.

Consider this a compliment.

You’ve built a brand that is powerful but does not allow competition to encroach too much.

Protect your brand and continue being the market leader in high-quality assisted living homes.

Often considered futile, building a brand is vital in the 21st-century marketplace. Consumers today connect with your business through digital means first.

Therefore, branding is critical and should answer the following the questions:

  • What will the digital consumer see?
  • What will catch their eye?
  • What will sustain their attention?

LEARN HOW TO BUILD A BRAND AT RESIDENTIAL ASSISTED LIVING ACADEMY

People should always recognize your brand. Do not skimp on building your brand.

When done correctly, the brand will capture both the heart and mind of the consumer. It will keep them attached to your business continually.

The Residential Assisted Living Academy educates and trains new and existing assisted living homeowners to be successful in this incredible industry.

Expert trainers paint with a broad stroke the overarching concepts of the industry. With the same persistence, these trainers use detailed strokes to provide the intricate details of effectively operating an assisted living home.

Contact the Residential Assisted Living Academy today and begin your journey to successfully building a brand for your assisted living business.

Senior Housing Yields Higher Returns

Investing in senior housing for higher returns is what many entrepreneurs are doing in the assisted living industry.

Daily, nearly 10,000 Baby Boomers turn 65 and 4,000 people turn age 85. What does that mean to an investor? It means opportunity.

The rowdy crew is aging, joining millions already basking in the golden sunlight of the senior years. Yet, true to their fashion, baby boomers are not so golden in their approach to senior living. They want it, as they did all other things, their way.

Baby boomers are transforming the industry of senior living with activism, connection, and meaning. They refuse removal from thriving daily life.

They want to live in a community, experience life with others, and go and come and they please. And they are willing to pay for it

Residential assisted living rises to the forefront as the demand for independent senior living outside traditional institutional settings rises. Baby boomers want to be in a community: city, town, suburb – it does not matter.

They do not, however, want to be in a nursing facility.

Baby boomers understand they may need or presently require assistance. If they must vacate their home of 40 years, it must be to go to another house. A place where people are warm, inviting, engaged, and thriving.

They do not want the quiet sleepy nature of traditional nursing care but prefer to live with others who want the same thing.

Baby boomers do not ride off into the sunset; they take a plane to a resort instead.

The United States Census Bureau projects the elderly population of the nation to double between 2020 and 2050.

Are you an investor seeking long-term gains? Well, it appears, long-term care, specifically residential assisted living, should be a central part of your portfolio.

WHAT’S DRIVING THE DEMAND?

Senior living facilities, such as residential assisted living, are being driven by a host of factors.

These factors affect families, not only the boomer but their adult children, significantly. Here’s a shortlist for your consideration:

  • Large two-story homes are no longer feasible to maintain.
  • Increasing taxes make homes too expensive to sustain financially.
  • Two-story homes, even split-level homes, have stairs that pose a risk.
  • Adult children no longer reside in the area.
  • An ailing spouse requires more care.
  • A surviving spouse is dealing with loneliness.
  • Manageable health conditions that need attention.
  • Changing demographics in the community.

Independent and fearless, baby boomers do not want to be a burden to adult children. They long to see their adult children thrive, grow, and raise responsible citizens, their grandchildren.

While relishing independence, baby boomers want to be a part of the family, however. They want to live in proximity but not with their adult children.

Thus, residential assisted living homes make this possible.

As mentioned earlier, the shift in age demographics from working adults to senior citizens in America is riveting.

Think about it.

The oldest of baby boomers are turning 73 or 74 in 2021. The United States population presently over 80 years of age is approximately 15 million. Therefore, by 2035, nearly 80 million people will be 65 and older 2035 – this is driving demand.

THE OPPORTUNITY

With demographics as a foundation, investors have a captive audience. They have a customer looking for a place to reside.

Occupancy will not be an issue, as long as the home is well kept and run with excellence.

The CBRE’s U.S. Seniors Housing and Care Investor Survey of 2020 provides some assurance to investors.

Nearly 53% of respondents presently owning senior living facilities expect occupancy to increase over the next year. Why?

  • People want to age in a home as opposed to a facility.
  • People want active living and community involvement.
  • People are living much longer now than ever before in American history.
  • Seniors are less apprehensive about senior living because of the variety of models available.

The time is now. Senior living is a need throughout the United States, and investors who delve into the industry with knowledge and strategy will thrive for decades to come. The time is now for investors to get involved. Of course, knowledge is more than power in senior living. It is imperative.

Owning and operating an assisted living home demands preparation.

The Residential Assisted Living Academy trains, educates, and prepares investors to engage in the most exciting and impactful undertaking – senior living.

SENIOR LIVING: A VARIETY OF OPTIONS

No longer is senior living synonymous with nursing homes. That paradigm has shifted drastically. Senior living is now associated with living. Seniors are thriving people, full of wisdom, hope, and purpose.

Contemporary senior living is like four distinct categories.

  1. Independent Living
  2. Assisted Living
  3. Skilled Nursing Facility
  4. Memory Care Homes

Independent Living

Known to the public by multiple names: senior apartment, retirement communities, active adult living, 55 and over the neighborhood – independent living facilities are “popping up” across America. Why?

Seniors like the idea of living an independent life, especially baby boomers. They do not want to be coddled, hounded, or scheduled. They want to go and come as they please.

The Villages, Florida, is a prime example. Seniors want to be able to:

  • Wake up when they are ready.
  • Attend a club meeting.
  • Participate in community service.
  • Play golf or miniature golf.
  • Swim for fitness and recreation.
  • Attend exercise class.
  • Attend game nights such as bingo, poker, or the like.
  • Visit the doctor onsite.
  • Entertain family and friends.
  • Attend church, synagogue, or mosque.

In short, they want to live an unburdened life of home maintenance and tax responsibility. Seniors want to thrive and age with dignity amongst like-minded friends.

If they need assistance somehow, many would prefer to hire help to enter the home or apartment, not take up residence in a nursing facility.

This senior living model does not offer medical care or nursing support, so seniors who thrive in this situation are healthy and desire an easier way of life.

Assisted Living

Assisted living facilities offer more support and various levels of care residents require. These facilities are ideal for those who need support in engaging in daily activities.

Residents here may need help with:

  • Cooking
  • Cleaning
  • Medication Administration
  • Driving
  • Laundry
  • Personal Care

Again, the idea of assisted living is assistance – this is not comprehensive care. These residents need support in living but otherwise can carry on living and making decisions for themselves.

Seniors residing in assisted living homes receive 24-hour support and access to care as they need it. Independence is promoted and encouraged, but residents can obtain help when they need it.

They are not alone.

Living arrangements in an assisted living facility are numerous.

  • Individual room
  • Shared apartment with a roommate.
  • Shared quarters, where three or four reside in a single apartment.

Social activities are offered extensively in assisted living facilities, with housekeeping, laundry, and meals included.

Skilled Nursing Facility

While least liked, it remains a necessity and with good reason.

Skilled nursing facilities (SNF) are ideal for those seniors in need of comprehensive primary medical care. Living in an SNF is for those who require:

  • Feeding
  • Bathing
  • Dressing
  • Extensive Medical Care
  • Medication Administration
  • Continual physician visits to monitor condition(s)

Living arrangements in SNFs have changed more recently. Residents have the option to live in a private room or have a roommate.

In many SNFs, the rooms have been updated from the traditional hospital setting to reflect more of an apartment; yet, with equipment readily available to support a resident’s health needs.

In addition to 24-hour nursing care, pharmaceutical and laboratory services are available onsite.
If patients require continued monitoring of health conditions, an SNF may very well be the ideal location.

Memory Care Homes

With baby boomers aging at such a rapid rate, the need for specific facilities for memory care is all too obvious.

Memory care facilities are niche’ residences where those with Alzheimer’s and other dementias can live with dignity and safety. These residents are no longer safe at home, and home caregivers can no longer provide the care needed to sustain the resident.

Memory care homes allow the resident freedom without wandering.

Nutrition and activities enable people with dementia and medication administration to achieve the best results.

As Alzheimer’s patients progress in the disease process, activities and behavioral modifications are beneficial. Staff in these homes receive special training to identify and support these residents properly.

Rooms in these homes are conservatively furnished and decorated. Items from home are ideal. Pictures, and sometimes even furniture are brought in to reduce stress upon the resident.

The more familiar the place is, the better the resident will adjust.

Memory care is a home. It is a place where people with dementia can age with dignity, even as their memories slowly fade.

THE TIME IS NOW

Investors, owners, entrepreneurs should know that senior housing returns are among the highest in commercial real estate.

Senior living homes are poised for growth as the population continues to boom in this demographic.

  • Are you seeking a long-term investment?
  • Are you looking for a foundational investment to uphold your portfolio?
  • Are you longing for a measured risk with significant upside?

Senior housing may very well be an investment opportunity for you. Get involved today.

The Residential Assisted Living Academy teaches investors the fundamentals and the intricacies of this industry during an initial 3-day course.

However, experts at the RAL Academy make continued support available to every student.

Contact www.ResidentialAssistedLivingAcademy.org today and begin a journey that will yield returns for many years to come.