RALA Success Stories: Jeff

It’s not uncommon for people to turn to single-family rentals when considering real estate investing, but some people are looking to launch into something big…an investment that produces and one that will last. When corporate aerospace engineer, Jeff, decided he wanted a career change, his decision was easy. He wanted to transition out of his 9-to-5 job, but needed an opportunity that would match or exceed his current income. He considered investing in rental properties, but after running the numbers, it was clear that he would need to invest in about 60 units to match his aerospace salary. That’s a lot of work.

Like so many investing in real estate and rentals, Jeff was desperately searching for an alternative solution to earn higher dividends. He joined his local Real Estate Investors Association to explore more investment opportunities. This is when he heard about residential assisted living. For Jeff it was more than simply making money.  He also wanted to make a difference. Does owning a residential assisted living business allow individuals to make money while also making a difference?

Doing Good And Doing Well

His father and his mother-in-law are both in their 80’s, and he quickly recognized how residential assisted living would give him the opportunity to provide a safe and comfortable place for them to live when they eventually need assistance. Sure, making an income was important, but this was his real motivating factor – his big why. “We could prepare for this AND have a retirement plan,” said Jeff. His 401(K) wouldn’t dictate his future any longer. Before starting his RAL business, Jeff’s exposure to assisted living was minimal. Even worse, his outlook on assisted living was not very positive at all. 

He’d previously had a disheartening conversation with an acquaintance who was running an assisted living facility. Unfortunately, this particular facility was cutting corners to make profits. As a result, Jeff had a really negative perspective about assisted living.

There are many facilities that are run poorly and take advantage of seniors. It’s no secret that there are many assisted living facilities that are run by greedy and unkind business owners, but this is not the model used by the RAL Academy. In fact, the RAL Academy blueprint is changing the way assisted living is perceived nationwide. The Academy is providing guidance and help investors and entrepreneurs do it the right way. The goal is to take care of seniors and to give them the best possible environment to age and thrive. The RAL Academy motto is “Do good and do well.”

Getting The Right Training To Train Others

Jeff attended the three day training program in Phoenix that is full of vital information and resources needed to successfully open and operate an assisted living home. “A lot of this is like drinking from a fire hose,” he said. “But thankfully there is repetition built-in.” The content is given context to help novice entrepreneurs understand the process and what needs to be done in order to take each step along the way. The 3-Day Fast Track course helps lay a lot of the foundation.

For Jeff and his wife, it’s not just about replacing his income and setting up a stable retirement plan, it’s about giving back to the people who helped him get there. Jeff has plans over the next few years to open up to 5-6 residential assisted living homes. He wants to train his caregivers to become managers and his managers to eventually become owners of their own RAL homes. His goal is to duplicate his success and to make a huge contribution to the health and wellbeing of his community’s seniors.

Launch Into Your Future Today

Check out the Residential Assisted Living Academy and learn how to immediately start building your own RAL business. 

You Will Discover Exactly How To:

  • Find the best real estate locations for the best opportunities in RAL in your area
  • Determine if your current property is a good fit for a RAL
  • Attract the highest paying clients/residents
  • Attract the right investors and partners for RAL success
  • Find and equip the right team to make your life easier and your business more successful
  • And much, much more

Gain access to the well-developed step-by-step training process, by clicking here to START YOUR JOURNEY, OWN YOUR FUTURE. Your registration will give you access to the shared knowledge of RAL expert Gene Guarino and enable you to review the Questions and Answers of other students. You don’t have to start from the ground up. Gene Guarino and the Residential Assisted Living Academy team have laid the groundwork — all you have to do is follow the successful game plan. Gene Guarino literally wrote the book on how to start a residential assisted living business, Blueprint. Now, you can start off where he ended up after years of hard work developing the Residential Assisted Living Business Accelerator.

https://rala.wistia.com/medias/jinpmaztoe

RALA Success Stories: Allyson

Nurses, firefighters, police officers and other service orientated jobs are usually occupied by people who would have a drive to start a residential assisted living business. Such is a case with former middle school teacher, Allyson. After raising three daughters, she searched for an opportunity to get involved in real estate investment. She started listening to real estate shows and investment podcasts. This is how she stumbled across Gene Guarino and the Residential Assisted Living Academy.

Allyson’s passion to help the elderly is seen through her many years volunteering in nursing homes. “When I heard about residential assisted living it lined up with a passion” she said. “It also made a ton of sense.” Allyson was looking into single-family rentals, but she realized it was going to take 20 to 30 properties to secure a decent income. Also, single-family rentals usually involve high-impact tenants. The path to residential assisted living just made more sense. What are the first steps an individual should take in order to start a successful RAL business?

When The Teacher Becomes The Student

With very limited experience in real estate, health care or financial planning, Allyson set out on a quest and right away the teacher became the student. Prior to opening her residential assisted living home in Castle Rock, CO, she attended the RAL Academy 3-Day Fast Track course where she learned everything she needed to know. Afterward, she signed up for the platinum support package in order to receive ongoing assistance from the team of experts at RAL Academy. With no prior business investment experience, Allyson regards the financial suite and all of the assistance for the investment side as incredibly vital to her success.

Having a template to simply plug in all the numbers and build a solid financial plan served as an invaluable tool. Many of the expenses required to start a residential assisted living home are foreign to newcomers. The RAL Academy saves people a lot time and money. She advises anyone getting into this industry to get connected by networking with people who are already operating RAL homes. Asking lots of questions to the right people is the key to your speedy success. “I don’t hesitate to ask,” Allyson said. “I’m not an expert, so I’m going to ask the experts.”

Ral Academy Is Graduating Successful Business Owners 

Allyson successfully opened her first RAL home. It is licensed for nine residents with rates between $4,500 to $5,300, providing both shared and private rooms and her success is something that she can now duplicate with more RAL homes.

Allyson advises anyone getting into residential assisted living to go to the RAL Academy 3-Day Fast Track training. “Get the support package and use the support team,” she said. “And network with other RAL owners in your state and community.”

She also advises people to reach out to the senior placement agencies in your area. Her perseverance and determination while building her RAL business was impressively notable. This past year, Allyson received the “Tenacity Award” at the Residential Assisted Living National Convention. We couldn’t be more proud of her and her success.
Owning and operating a successful RAL home starts with understanding two key elements of the business: real estate and senior care. This Silver Tsunami generation of baby boomers is coming and has a huge set of specific needs and wants for their twilight years. Become part of the solution by helping to provide quality senior care while securing an incredible and stable financial future.

There is a lot of information and new research needed in order to run and operate a residential assisted living home. Visit www.RALAcademy.com to learn everything from A-to-Z about the business. Gain the most success possible after attending the accelerated RAL course.

RALA Success Stories: Ed & Janelle

Some real estate investors are doing just fine making money in the business of rental properties, but they could be missing out on an opportunity of a lifetime. Complacency has the ability to keep some people from maximizing their potential. Indiana couple, Ed and Janelle, were looking for an investment opportunity more substantial than the rental properties they already owned. He spent much of his professional career in the rental housing market, and he had no plans on venturing into the residential assisted living market. Three years ago, as the owner of 20 rental properties, Ed found himself at a landlord conference in Cleveland, Ohio. During the conference, Gene Guarino spoke about the financial opportunity in residential assisted living. Ed quickly learned how he could make the same amount of money with one single-family home as he was making with 20 rentals. This reality sparked his attention and eagerness to learn more. 

What Is Your Big Why?

The most successful people are driven by the reason “why” they do what they do. The idea of making that kind of profit while providing a much-needed service for seniors is an opportunity he didn’t want to miss.

Janelle was working as a nurse. As a result, she was immediately captivated by the “do good and do well” aspiration achieved by residential assisted living. Working amongst the elderly population for years allowed her to see firsthand how their community could benefit from such a business. 

Also, her grandmother was in a nursing home – an environment that left her feeling uncomfortable. She wanted to transition her to a retirement community that was more home-like. Suddenly, along came residential assisted living. “It was meant to be,” Janelle said. 

Couples Building Successful RAL Business

One of the great things about Ed and Janelle’s story is how they complement each other. They each bring a specific skill set to the leadership and management of their RAL business. Janelle focuses on hiring, training and equipping qualified care staff, while Ed deals with the zoning, licensing, construction and the financial aspects of the business. Being able to have different ideas and coming together for the common good is what any RAL business needs. There are so many dimensions to starting, building and operating a residential assisted living home. As a result, it helps to have a second perspective on how to navigate obstacles that arise.

Ed did his homework:

  1. Contact zoning boards of neighboring towns prior to building his RAL home 
  2. Make some trial run phone calls to verify requirements in neighboring areas before contacting the officials in his area
  3. Practice interacting with city officials and learn how to communicate in their terms
  4. Get a feel of what responses will be in your community

Additionally, it is also important to shop around for financing and banks – don’t just settle. There will be some investors who simply don’t have the appetite for residential assisted living. This is primarily because they don’t know enough about the business or the profit margins. Ed and Janelle found the right lender for their 16 bedroom RAL home that will soon be open and providing quality care for seniors in an underserved market. They are projected to earn a conservative estimate of $20,000 a month, based on this one home project alone. “Although our investment experts predict that it will be much more profitable than that,” they said. Ultimately, this is what drove Ed and Janelle to make the switch from single-family rentals to residential assisted living. It was a choice between managing 20 rentals with high-impact tenants vs. managing one RAL home that provides an amazing service for seniors. “We may be slightly biased,” Ed said. “But we agree that the choice is simple.”

Start Working On Your Future Today

Ed and Janelle did not allow complacency to hold them back. After attending the 3-day fast track training at Residential Assisted Living Academy, they moved ahead with their vision. “One of the main take-aways was getting to tour Gene’s RAL homes and see them in action,” Ed said. Join the Residential Assisted Living Academy and Gene Guarino will show you how to immediately start building your RAL business. 

You Will Discover Exactly How To:

  • Find the best real estate locations for the best opportunities in RAL in your area
  • Determine if your current property is a good fit for a RAL
  • Attract the highest paying clients/residents
  • Select properties that will be suitable for a RAL
  • Attract the right investors and partners for RAL success
  • Find the right team to make your life easier and your business more successful

Gain access to the well-developed step-by-step training process, by clicking here to START YOUR JOURNEY, OWN YOUR FUTURE. Your registration will give you access to the shared knowledge of RAL expert Gene Guarino and enable you to review the Questions and Answers of other students. You don’t have to start from the ground up. Gene Guarino and the Residential Assisted Living Academy team have laid the groundwork — all you have to do is follow the successful game plan. Gene Guarino literally wrote the book on how to start a residential assisted living business, Blueprint.Now, you can start off where he ended up after years of hard work developing the Residential Assisted Living Business Accelerator.

RALA Success Stories: Kevin and Heather

Doing Good and Doing Well is the motto of the Residential Assisted Living Academy. This motto is quickly becoming a reality amongst students who attend the 3-day fast track course. Husband and wife team Kevin and Heather started in the real estate market with a small rental. Kevin aimed to protect and serve others as a police officer, while Heather dedicated her life to helping patients as a nurse. They were both influenced by Robert Kiyosaki’s book, “Rich Dad, Poor Dad.” Kevin says he started listening to investment and real estate podcasts when he stumbled upon Gene Guarino. During the podcast, Gene Guarino was explaining the investment opportunity available with residential assisted living. They quickly envisioned senior housing as the marriage between their passions and occupations – together, these two as one, became a stable business investment. 

Getting The Right Training To Get Started

Kevin and Heather started by going through the online home study course. The content motivated them to go to the next level of learning. As a result, they registered for the 3-day fast track course in Phoenix, Arizona. The live course offered many more components than the online study, including:

  • The ability to see the business modeled in action
  • The opportunity to network with others in the business
  • The motivation from experienced trainers who are operating their own successful RAL businesses
  • And much more

Heather and Kevin remained persistent. After searching a few dozen homes, securing 4-5 contracts along their journey, various circumstances changed their course. Roadblocks are a part of any new entrepreneurial endeavor. The difference between those who are successful and those who fail usually boils down to how they handle obstacles. Heather and Kevin knew what they wanted to accomplish, and they didn’t let anything stop them.

Location Is An Important Part Of The Process

Scottsdale, Phoenix and Paradise Valley are the major cities in the greater Phoenix area that are populated with senior living.

Location is critical when starting a residential assisted living business and at first it seemed like one of these would be the smart choice. But Kevin and Heather had a plan to provide quality senior housing in their home city of Gilbert. They did their homework, conducted market research, and spoke to other assisted living operators in the area. In the process, they discovered a great need for assisted living housing in their own area. 

They purchased a house for $760,000 with renovation and construction costs around $250,000. Their RAL home has its license for 10 residents, and is fully occupied. Currently, their net profit is between $10,000 and $15,000 per month. They are now searching the nearby area with hopes of duplicating their success. 

How To Overcome Challenges When Starting Your Ral Home?

Kevin and Heather’s mantra for facing obstacles was “move forward in faith.” You are going to face many challenges. “It is going to take time,” they agreed. “But it is worth it.” They found the training at the Residential Assisted Living Academy, along with assistance from the support staff to be invaluable. As a result of the 3-day fast track training at www.RALAcademy.com they were able to save big in 3 areas:

  1. Save time, 
  2. Save money, and 
  3. Save effort with their project.

The business plan and the financial suite were incredibly helpful tools. They helped Kevin and Heather overcome difficulties by providing them with guidance in tackling the financial side of starting their RAL business.

What’s Your Why? RALA Success Stories with Timothy & Helga

Success and happiness start when you keep your Big Why in the forefront of your business endeavor, the same is true in residential assisted living. Most self-made millionaires attribute their success to their Big Why. It’s not about having the right Big Why; it’s about having “A Big Why”.  So let’s get you ready for your success. Students who go through the Residential Assisted Living Academy 3-day fast track training learn the importance of embracing their Big Why. Music theory professor and professional musician, Timothy and Helga attended the training. Afterward, they turned their single-family rentals into an amazing RAL business. They aimed to broaden their investment and create a lasting legacy by helping others. As a result, they turned to residential assisted living.

For successful entrepreneurs, it’s all about the Big Why. Why do you do what you do? What drives you?

Identifying Your Big Why

  1. Are you looking for something that’s going to take less time to make more money? 
  2. Are you hoping to reduce or even eliminate your weekly work hours? 
  3. Do you want to remove your income limitations? 
  4. Do you seek the freedom to live where you want to live, even if your business is in a different location? 
  5. Do you crave the opportunity to help other people? 

What is your Big Why? Maybe take a few moments to think about it. What matters to you, what drives you, what are you passionate about? Then write it down so that it is clear and in front of you. 

Passion And Perseverance

Timothy and Helga got their start in residential assisted living by remodeling their own home into a 10-bed, 11-bath RAL facility. The care they provide their residents is focused on holistic health, with advanced nutrition programs, mental and physical exercise, music therapy and much more. Their greatest piece of advice they give individuals who are interested in this business is to “know your why.” Find your purpose and fully embrace it.

Timothy was a professor of music theory for 30 years,  and Helga is a violinist with the Arizona Opera. Now, they are working in harmony to do good and do well by providing quality care for seniors in residential assisted living. 

Timothy and Helga said two phrases stuck in their minds from the 3-day fast track training at Residential Assisted Living Academy. “Go big” and “Do good and do well.” These are the motivations they used to fuel their big why. “It’s not always as simple as just identifying what you like most in life and pursuing it,” Timothy said. “Unfortunately for most, life usually doesn’t work that easy.” He explained that everything comes with a cost. “Everything we do, every choice we make and every job we have comes with consequences and often a bit of struggle,” Timothy said. “That’s why it is so important to have a ‘why’ for the things we do and the opportunities that we pursue.”

A wise person once said “everything sucks, some of the time.” Despite the negative tone, it’s important to recognize that there will be difficulties ahead regardless of what career or industry you decide to pursue. There are always costs, and fulfilling your ambitions is no different. During the most challenging moments is when your big why will become more relevant. Stay the course. Your big why has to be about more than just making money. Timothy and Helga wanted to make a difference in the lives of the people in their community. And that is exactly what they are successfully doing now. Their passion drove them to start their own residential assisted living business.

Taking Action After Researching The Industry 

Research is a good start. Now dig deeper. Ask yourself, “Why do I really want that?” Ask yourself why at least five times like a 5-years-old asking questions after you’ve given them an answer. Digging deep is how you will get to your “Big Why.”  Once you’ve identified your Big Why, you will be able to quickly determine which of these ways will best support your goals. 

So, What Are You Really Looking for? 

  • Are you looking for the ability to make a lot of money? 
  • Are you searching for the ability to help other people?
  • Do you want residual income? 
  • Do you want respect? 
  • Do you want a career that others look at and say, “I wish I’d thought of that?” or “You were so smart for seeing this massive demand for housing and seizing this opportunity?” 
  • Do you want to work on a project that will take you less than one year to attain financial freedom? 
  • Do you want a business that can produce income for the rest of your life, for your kids, and even for your kid’s kids? 

Accelerating Your Vision With Ral Academy

It’s no secret that RAL Academy is the most comprehensive course for entrepreneurs hoping to learn about the assisted living industry. To learn more about accelerating your big why, visit: Why the RAL Academy 3-Day Fast Track is Your Best First Step in Assisted Living. Register today for the next 3-day course because each class fills quickly. Like Timothy and Helga, converting your home can be a great idea, but there’s a lot to consider and a lot more to learn.  Get started by gaining the necessary information and education from the Residential Assisted Living Academy by registering at www.RALAcademy.com.

COVID-19 Tips For RAL Care Homes

The need for quality residential assisted living housing is rapidly increasing, especially with the coronavirus creeping through the senior population at an alarming rate. COVID-19 poses greater risks for elderly people than anyone.  Unfortunately, seniors who occupy big-box living facilities face a higher chance of exposure to this virus. These facilities are typically occupied by more than 50 residents. As a result, big-box facilities require more staff and more outside interaction for deliveries and healthcare. The potential of viral transmission is much higher when such a large number of people co-exist in the same setting. 

According to the Centers for Disease Control and Prevention (CDC), there are approximately 15,600 nursing homes in the United States. These facilities are occupied by 1.4 million seniors who are in need of assisted living. What can the assisted living industry do to make sure our most frail population is safe during a pandemic? This safety starts with smaller residential assisted living homes that offer quality care in a home-like setting. While some seniors are coping with feelings of isolation during the current quarantine, RAL home caregivers are able to offer residents a different experience.

New Protocols To Protect Assisted Living Seniors From Covid-19

  • Family members are not able to have face-to-face visits with seniors during this time
  • Limiting other visitors like entertainers and extra staff
  • Defining the difference between critical workers and an essential workers
  • Utilizing telemedicine for communication with doctors for prescriptions 
  • In some cases essential visitors are even using window visits to limit interactions 

A View From The Frontlines With Dana Robinson

According to nurse Dana Robinson, some smaller residential assisted living homes are allowing families to do window visits without being in the same room. One small positive coming out of all this is observing more people share their spare time helping their elderly loved ones while working from home. During the isolation period, it is also important to keep seniors engaged in activities such as music therapy, pet therapy, and enjoying the sunshine. 

Ways to Alleviate Isolation

  • Pet therapy,
  • Musical therapy,
  • Keeping seniors engaged with activities of daily living,
  • Short outdoor walks, and  
  • Turning off the TV and other news sources to eliminate worry.

The Residential Assisted Living Academy teaches owners, operators and caregivers how to do good and do well even during these difficult times amidst COVID-19. 

Dana Robinson is proof of this with her 12 bed RAL home that is fully occupied. With a waiting list of potential residents, she is preparing to open a second home in the same community to accommodate the need. This is a trend that is happening across the country.

There is a nationwide shift of seniors opting for residential assisted living homes rather than large nursing facilities. Robinson is experiencing the effects of how COVID-19 is impacting the assisted living industry firsthand. Many of these visiting family members are able to see the type of care needed when visiting their loved ones on a regular basis. Most seniors need more assistance with activities of daily living than their family members previously thought. The current quarantine is creating a wave of families that are realizing the importance of quality care. 

How Safe Is Mom And Dad In Assisted Living During Covid-19?

According to Robinson, big-box assisted living facilities are inundated with high traffic which poses a higher risk for seniors being exposed to coronavirus. She explained how caregivers in smaller residential assisted living homes are able to provide care and accommodate other responsibilities at the same time. On the other hand, big-box facilities have cleaning crews, kitchen staff, activity directors, physical therapists, maintenance workers, and other specialty employees.These employees are constantly entering and exiting the facility.  

According to the CDC, as it pertains to the coronavirus, limiting the number of people coming and going minimizes the opportunity for transmission and spread. It is important to limit exposure of the virus, especially for seniors with pre-existing conditions or compromised immune systems. Mom and Dad are safer when they live in smaller assisted living homes with much less exposure to large numbers of people during this time. Dealing with coronavirus, quarantine and self-isolation does not have to be all doom and gloom. While some family members, doctors and other individuals are finding these new RAL home precautions difficult, there are many silver linings to this horrible pandemic. 

Two Most Important Positive Perspectives:

  • Furloughed and out-of-work family members can conduct more window visits, and
  • More seniors are using Skype, Zoom and other technology to stay connected with family and friends than ever before.
  • There is a greater level of scrutiny over the senior living industry during this period and with that comes improvements to care and safety that will serve to strengthen this industry. 

Why Residential Assisted Living Will Benefit Businesses For The Next 20 Years

Accelerate your vision by checking out our informative articles and learn why the RAL Academy fast track training is helping RAL business owners succeed. 

Why Is Senior Housing Such a Hot Topic? (Simple Passive Cash Flow Podcast Interview)

There are three good reasons why RAL business owners, operators and investors will benefit from senior assisted living:

  1. Smaller homes are safer for the residents because they have less exposure to others than they would have in a “Big-Box” facility. It’s safer for the caregivers and staff as well. 
  2. Interest rates are low, which makes it easier to buy property and to fund your project. 
  3. The demographic shift that is happening is unstoppable. The Silver Tsunami of Seniors is coming.

We know exactly what’s coming and when it will arrive. We truly are at the “Right Place At The Right Time”.Visit www.RALAcademy.com  and learn how you can get ready for the next big investment opportunity of a lifetime.

How To Start a Residential Assisted Living Home

There is a rapid rise in the need for assisted living homes, and that need will only continue to grow. For individuals who are at all interested in starting your own RAL home, this article will be a great guide. At the beginning stages, when your interest is initially sparked, it’s normal to have a lot of questions. We’ve condensed this content in order to give readers a brief introduction to the industry. The reason most seniors go to assisted living facilities is because they can’t completely take care of themselves and need help, especially with activities of daily living. They may need help getting dressed, eating or preparing food, bathing or maybe even using the toilet. Even though they may need help in certain areas, residents who are physically able can still come and go as they please. 

It can be costly staying at an assisted living home, but not as expensive as living in a nursing home. It is not cheap to get started with an assisted living home. 

It requires a large amount of money and reading articles like this to find out the best steps to take. The following pointers and seven steps are highlighted as need-to-know information to get started in the residential assisted living industry.

A Summary Of Steps For Getting Started From Scratch

  • Acquire Land and A Home

You will need to acquire land and a house for your RAL home. You will also need to secure the proper financing for such a major project. 

  • Contract a Real Estate Agent

Find a real estate agent that knows local zoning laws.

  • Hire an Architect and Building Contractors

Hire your own architect that both understands all the rules and regulations pertaining to designing such a home, according to legal code. 

  • Apply for Permits 

Make sure to apply for all the state and commercial building permits.

  • Hiring the Right People and Using the Right Products 

Only hire experienced personnel and make sure the materials used meet all federal and state standards. 

  • Secure the Necessary License 

Get the various licenses you need. All of this can be done while the home is actually being built or remodeled.

  • Purchase Furniture

Be sure to get all the furniture you will need throughout your RAL home to make it as comfortable and convenient as possible. 

  • Plan for Marketing and Advertising

Word of mouth is the best advertising. Hold an open house to show off your new facility. Even with these suggestions, you’ll have a long way to go to maximize your opportunity in the assisted living industry. These seven steps are only a brief summary of the work and planning involved with starting a residential assisted living home. So much more information and advice is needed in order to be successful. This is why the Residential Assisted Living Academy offers a 3-day accelerated course that has helped hundreds of existing owners and operators gain success, as well as novice entrepreneurs getting started for the first time. Eight of the most frequently questioned first steps for investing, owning and operating a RAL home are as follows: 

  1. Business Plan 
  2. Form A Legal Entity 
  3. Register For Taxes
  4. Open A Business Bank Account 
  5. Secure Necessary License And Insurance 
  6. Define Your Brand 
  7. Market & Establish An Online Presence 

Eight Steps To Starting An Assisted Living Home 

Do you have a great RAL business idea, you’re ready for the next step, but don’t know how to get started? There’s a lot of work that goes into starting a business. Here are seven steps that will help you make sure your business is well planned, properly registered and in legal compliance. 

Step 1: Business Plan

Every entrepreneur needs a clear plan for success. Mapping out the specifics in your business plan can expose some unknowns. Four questions to keep in mind are:

  1. What are the startup expenses and ongoing cost? 
  2. What will the name of your business be? 
  3. How long will it take to earn what you spent to launch your business? 
  4. Who is your target market? 

The Money Involved In Opening An Assisted Living Home

You can always lease an existing home, but keep your options open for a purchase or building from the ground up. Other additional costs may include utilities, wages, internet, security cameras, computer hardware, bedding, medical equipment, food and drinks for the residents. You may also decide to purchase software that is designed to reduce the challenges caregivers face working in assisted living. These expenses will make your operation run more efficiently. 

Ongoing RAL Operational Expenses

Some of the ongoing expenses are employee wages, utilities, internet, insurance, supplies and funds owed for the property itself. A state manager for one of these facilities will likely demand a salary between $35,000 and $75,000. A marketing director will be needed, if you don’t do your own advertising. Marketing directors could cost anywhere from $40,000 to $70,000 per year. Your caregivers and kitchen staff may run you about $10 and $15 per hour, usually caregivers are paid minimum wage plus a few dollars, depending on experience. The cost of food all depends on what quality of food you provide. The size of your facility usually determines your utility cost. Things like medical supplies and bedding must be replaced as needed. You will probably spend close to $500 to $1,000 per month on supplies. Adjust your budget accordingly to better gauge your clientele’s needs and demands. 

Your Target Market

Your goal should be to house as many residents as your RAL home can reasonably, safely and comfortably accommodate. The younger the patient the more ideal, because they are more likely to live longer and stay in your home longer. An extended stay in a RAL home is a consistent source of income. 

How Will You Make Money? 

Residential assisted Living homes make money by charging all residents a monthly fee to live there, usually starting at $3,650 for a quality care home, and depending on service, location and amenities could be as high as $7,000 to $8,000.

How Much Profit Can Be Made?

It depends on the size, what it offers and occupancy. If you have a huge home with top notch service and amenities, profits have the potential to sky rocket. If you build a brand and decide to open other homes, you could very well make millions in profit. It is all down to the planning, execution and management of your RAL business. There are a few things you could consider when thinking of ways to see more profit at your facility. Try offering auxiliary services on site. Charge residents additional fees for optional services like cable TV packages, dining options, on site entertainment, specialized care, and other unique services. If your facility reaches full capacity, it’s possible to get financial kickbacks by referring people to other available facilities. 

What Name Will You Choose For Your Business?

It is a good idea to check to see if the name you are considering is available as a web domain. If so, secure it before the name is taken. After getting your domain name established, you should definitely consider creating a professional online presence. 

Step 2: Form A Legal Entity

Creating a LLC helps to prevent you from being personally held responsible for lawsuits. There are a few business structure options to choose from, such as, corporations, LLC’s, and DBA’s. A registered agent service could also help protect your privacy and ability to stay compliant. LLC’s are easy to register yourself. This is the route most small businesses go. 

Step 3: Register For Taxes

There are a variety of both federal and state taxes that  need to be registered before you can open a business. In order for you to properly register for tax purposes, you first need to apply for an EIN. This is a simple and easy process – it is also free. Just go to the IRS website. 

Step 4: Open A Business Bank Account

A business banking and credit account is essential for personal asset protection. When you mix your business accounts with your personal accounts, you put yourself at risk, especially if your business is ever in a lawsuit. This is for your personal protection, and it also helps businesses to stay organized, which makes accounting and tax filing much easier. Keep an accurate and detailed account of all your expenses. Understanding the financial workings of your business is critical. Always record your various expenses and sources of income. This also simplifies filing your taxes. 

Step 5: Secure Necessary License and Insurance 

Without the proper permits and licenses, you are subject to hefty fines, or even getting your business shut down. A good source to learn more about licenses requirements in your state is by visiting SBA’s reference to state licenses and permits. Assisted living homes usually operate based on zoning laws, building codes, and government regulations. It’s usually the landlord’s responsibility to obtain a certificate of occupancy. After completing major renovations, a new certificate of occupancy is usually needed. Also, all business owners and operators should have insurance – it is imperative. Workers compensation insurance may be a legal requirement in your state when you hire employees.

Step 6: Define Your Brand

Your brand is what your company stands for and how you want the public to perceive you. A strong brand can help set your business apart from your competitors. Your current residents may be your biggest asset, so use word of mouth wisely to promote your RAL home. Advertising your facility in local newspapers, magazines, radio spots, and TV ads can also prove useful, depending on your demographic. Having an online presence will accelerate the success of your business. Although a lot of seniors are not familiar with the internet, it is likely that their families will be. Bolster your search engine optimization to make it easier for your business to be found online.

Step 7: Market & Establish An Online Presence

A detailed and professional business website allows customers to learn more about your RAL business at the convenience of their fingertips. Social media is also a great tool to use to attract more residents and their family members.

The Ral Academy Makes The Process Easier

There are so many more details that owners and operators need to learn beyond this introduction and 7 steps. The Residential Assisted Living Academy is an assisted living education company that teaches everything from A-Z about meeting the rising demand for senior housing. Gene Guarino, founder of the Residential Assisted Living Academy (RALA), is an American businessman and author. He operates through a number of companies that he owns, which includes Family Legacy Homes, Residential Assisted Living (RAL) National Association, and Pitch Masters. Guarino’s 3-day accelerated RAL course empowers students to achieve true financial independence. He owns and operates his own RAL homes and has students across the country that are also benefiting from this lucrative niche. The RAL Academy’s motto is “Do Good and Do Well.”Register today to attend the next 3-day course by clicking here, www.RALAcademy.com.

Simple Wholesaling Podcast with Emmanuel Guarino

Each week, we sit down with top real estate professionals, business executives and/or financial experts during our Real Estate Investing with a Purpose podcast. These professionals inspire us with their success stories, teach us incredible business strategies, and share their biggest life lessons. 

The podcast is an incredible learning tool that offers real estate investment strategies that enable individuals to quit working and start living their dreams.

Real Estate Investing with a Purpose podcast is helping listeners generate wealth and free up your time. Afterward, entrepreneurs are able to use their wealth and freedom to make a difference in the world. The interviews are centered on individuals who believe in the “Do good and do well” concept. The podcast show is filled with laughter and entertainment, while teaching listeners how to become successful real estate investors. 

Simple Wholesaling Podcast

Emmanuel Guarino is a realtor at N.B. Andrews & Associates and the sales and operations manager at Residential Assisted Living Academy. Together with his wife Bekah, they help clients buy and sell assisted living homes. Their family also owns and operates three care homes in Scottsdale and Phoenix. Emmanuel and his wife are leading experts in the field. They teach people the ins-and-outs of the residential assisted living business. During a recent podcast, they discussed the important concept of not putting all of your eggs in one basket and knowing your buyers.

In this previous show, listeners learned the following:

  • What Emmanuel did before he got into real estate.
  • How he got into real estate,
  • How he got his first check,
  • What they do,
  • How they started their academy,
  • Tips on residential assisted living,
  • What they take into account when looking for a property,
  • On having less competition in assisted living,
  • What “do good” means in his business,
  • Challenges people often experience, and 
  • How long it will take to get everything up and running in terms of residential assisted living facilities.

How Does Wholesaling Work In Real Estate?

In real estate, wholesaling serves as a versatile exit strategy that can suit several different investor personality types. 

  • For starters, the wholesale process is known to have one of the shortest completion timelines, compared to other investing strategies. 
  • When done correctly, an investor can receive their assignment fee in less than a month.
  • Wholesaling can be a great fit for investors who prefer to make profits in the least amount of time possible.
  • Investors get to have complete control over the volume of wholesale deals that they process over a given period of time.
  • A great entry point for beginners who want to learn how to invest, but have no prior real estate knowledge. 

In the process of delivering a wholesale deal from beginning to end, a beginner will become immersed in skills vital to any investing operation such as marketing, networking, minding due diligence, and coordinating a real estate transaction.  Beginner investors who have limited access to capital or working to build their credit, can also participate in wholesaling.  If you want to start making money in real estate quickly, it’s time to consider wholesaling. The wholesale process is different from more traditional types of real estate transactions. Closing a wholesale deal for the first time is a major accomplishment for any investor. Still sounds confusing? It won’t be after you consult with our seven-step beginner’s guide to closing a wholesale deal.

How To Wholesale Real Estate Step-by-step

Now that you understand the various benefits of becoming a wholesaler, you may be wondering exactly how the wholesaling process works. What kind of skills and resources are required to successfully complete your first deal? The following is a basic wholesaling real estate step-by-step guide that will help answer your questions:

  1. Mind Your Due Diligence:

The first step to any wholesale deal involves researching and strategizing. Spend time educating yourself on the overall process. A great place to start is by attending a real estate event in your area. Network with other investors.

2. Build A Buyers List:

A buyer’s list is essentially a category of potentially interested investors, entrepreneurs and homebuyers. A strong buyer’s list will make sure you always know where to go with deals. 

3. Market To Motivated Sellers:

A motivated seller is any homeowner eager to get rid of their property. This situation can happen for a number of reasons: they could be behind on mortgage payments and hoping to move or maybe they recently inherited a property they aren’t sure what to do with. No matter the reason, motivated sellers are your best bet at getting a property under contract for a good price. 

4. Get A Property Under Contract:

When you successfully acquire a motivated seller, come to an agreement on the correct price and terms for the property at hand. Make sure you are on the same page as you negotiate the contract, and include all information in the agreement. 

5. Find Your End Buyer:

Your end goal at this stage will be to assign that contract to an interested buyer. If all goes to plan, it will be one from the list you created earlier in the process. Put together a list of comparable properties, estimate the potential cost of repairs and get a title report done. Then, start reaching out to potential buyers from your list. 

6. Assign The Contract:

Be sure to agree upon your assignment fee and deposit amount, and include this information in your final agreement. Your final contract should simply state that you are assigning the contract for X amount of money. 

7. Close The Deal And Cash Your Check:

On the day of closing, make sure your end buyer is present so they can sign the appropriate documents. They should arrive with the correct forms and payment to purchase the property, including your assignment fee. Once the title company accepts the payment, they will cut you a check for the amount of your fee. “Don’t try to do everything all at once. Pick one thing, get after it, become a master of it, go on to the next thing,” Emanuel Guarino said. “There’s a million ways to make a million dollars at the end of the day. What we need to find out though is what is our why. By following our wholesaling real estate step by step guide, you’re already miles ahead of most beginners. 

Why Residential Assisted Living Works 

With more than 10,000 people turning age 65 every day, seniors will need housing and assistance with activities of daily living. This business is a combination of real estate and assisted living. Accelerate your vision by reading our blogs describing why the fast track training is helping RAL business owners succeed. 

There are three good reasons why RAL business owners, operators and investors will benefit from senior assisted living:

  1. Smaller homes are safer for the residents because they have less exposure to others than they would have in a “Big Box” Community. It’s safer for the caregivers also. 
  2. Interest rates are low, which makes it easier to buy property and to fund your project. 
  3. The demographic shift that is happening is unstoppable. The Silver Tsunami of Seniors is coming.

We know exactly what’s coming and when it will arrive. We truly are at the “Right Place At The Right Time”. While you’re at home taking precautions during this critical season, visit our site and learn how you can come out of this crisis thriving. Visit www.RALAcademy.com  and learn how you can get ready for the next big investment opportunity of a lifetime.

Check out Simple Wholesaling:
https://www.simplewholesaling.com/episode181/

RAL Homes Provide Better Resistance to Coronavirus

With no uncertainty, residential assisted living homes offer unique components that organically create safeguards against the coronavirus and other contagious ailments. In fact, there are several aspects about smaller assisted living homes that overshadow big-box facilities. One of these life-saving qualities of RAL homes is the ability to limit the transmission and spread of COVID-19. These safety factors are ingrained into the fibers of the residential assisted living business model. RAL homes have a smaller capacity of residents. As a result, these homes reduce the statistical chances of catching community spread diseases. On the other hand, big-box facilities are often occupied by dozens and even hundreds of elderly residents sharing various communal spaces. In addition to sharing spaces, they are forced to be exposed to more staff, suppliers, delivery personnel, and visitors.

While visitations can be suspended, the operational staff continues to raise the risk of exposure in larger facilities.Unfortunately, big-box facilities are breeding grounds for the transmission of communicable diseases, especially including illnesses like COVID-19. Even worse, big-box facilities are large multi-story buildings filled with long hallways that resemble hospitals that are surrounded by parking lots…not the warm and comfortable environment that most of us envision spending our twilight years. The residential assisted living model consists of 6-16 residents living in smaller structure homes located in traditional neighborhoods.  

What are the components that make RAL homes safer, smaller and feel more like a home? 

Feels Like Home

The small-scale residential assisted living model is trying to provide an alternative to the traditional, large facilities. Another big difference between big-box and RAL homes is the organizational structure. The residential assisted living home model aims to recreate a personalized care in a home-like environment. Traditional big-box facilities are hierarchical, task-centric organizations, where large staff focus on executing a strict routine of tasks associated with the care of the patients. On the other hand, RAL homes are small, self-managed teams, where the residents dictate how they live. Much like being at home, the staff can better cater to the residents preferences and needs. Small-scale care homes aim to offer a superior quality of care and comfortable living. 

The buildings are often designed to have private bathrooms and bedrooms that offer plenty of sunlight. They also have cozy living rooms where residents can gather with each other or with visitors to socialize. Each home is different – some offer access to outdoor gardens, others have walking paths and outside seating. Residents can set their own schedules for when they want to wake up, eat meals and go to bed.They also enjoy customized cooked-on-premises meals and medication management. Residential assisted living offers a smaller, more controlled environment with better staff-to-resident ratios. As a result, caregivers share a more intimate relationship with each resident and a more comprehensive knowledge-base about their individual health conditions. 

What Are Loved Ones Looking For In Assisted Living 

There are three known features that family members search for when trying to find the perfect fit for their elderly loved one. 

  1. More staff per resident 
  2. Ability to meet special needs
  3. Small, comfortable community
  • More Staff per Resident

Residential assisted living homes offer quality care, staff who are compassionate, friendly and responsive. More staff-to-resident ratios allows for better security and safety. Small residential care homes aim to excel in these areas. They are able to dedicate more minutes per day directly caring for residents. This also means staff are more likely to identify problems early and help patients get treatment before problems become serious. 

  • Ability to Meet Special Needs

Specialized needs include doctor-mandated diets, a lifestyle choice like veganism, a cognitive disability such as dementia, or other conditions outside the mainstream of care. A smaller residential assisted living home is ideal for meeting these specialized needs. There are also smaller specialized facilities dedicated to serving only individuals of a particular group or need. RAL homes have the ability to offer dementia care services that accommodate the special needs of individuals with Alzheimer’s with caregivers who receive specialized training.  

  • Community

Residential assisted living homes offer the opportunity for close relationships with staff and other residents. This offers an option to individuals seeking companionship with care. The smaller, residential assisted living home model offers the elderly a much better life than the institutional norm. A smaller community offers a host of benefits that big-box facilities do not. 

Seven Benefits of Smaller Senior Assisted Living Homes 

  1. Easier to clean home-like environment 
  2. Limited outbreaks of disease and illnesses 
  3. Better prepared to most situations and crises
  4. Small total numbers in the building reduces the statistical chances of catching and spreading contagions 
  5. More controlled environments with staff who are aware of status 
  6.  Optional live-in caregivers
  7.  People don’t stop taking care of their loved ones when hard times come and residential assisted living has never been more important than it is right now

Learn More About Residential Assisted Living Options 

Family members don’t stop thinking about their loved ones during difficult times, in fact, they become more concerned during times of pandemics. 

Seniors will always need a safe and comfortable place to live during their twilight years. Now, more than ever, seniors and their family members are recognizing the value in residential assisted living homes. The investment opportunity in RAL has never been greater and with the incoming silver tsunami of baby boomers the potential for larger investment will only continue to grow. 

Are you wondering how you can get started investing in this booming industry? Gene Guarino is an American businessman and author. His newest book is titled, Blueprint, How To Start a Residential Assisted Living Business. RALA is an assisted living education company that teaches everything from A-Z about meeting the rising demand for senior housing. Guarino’s 3-day accelerated RAL course empowers students to achieve true financial independence. During the course, instructors use an interactive live training approach with physical RAL home tours to teach students how to gain the most success. 

Visit www.RALAcademy.com to learn more and register now. For additional information about how residential assisted living fits into the greater scheme of the industry read: Big-Box Senior Living vs. Residential Assisted Living Homes…What’s the Difference?

RALA Success Stories: Donald & Talinda

Donald and Talinda Kelly hit a home run with their new custom-designed senior housing, after attending the Residential Assisted Living Academy. “God was leading me,” Don said. “And then (Gene) came up.” After attending the RAL Academy’s 3-day fast track course, Don insisted that his wife sign up to see what it was all about. She suggested the online classes, but Don was determined to get Talinda in the 3-day course. “Gene takes (students) to tour his level 3, 4 and 5 homes,” Donald said.  “You get to see, touch and feel, you get class interaction – you really need to go.”

In March, Talinda registered for the 3-day RAL Academy course. “I get it now.” She said. “Let’s do this.” Also in March, they were approved and started their business. “It was a God-send,” Don said. “Once I left the class I was empowered.” This is the right time to sign up. Today, there’s a silver tsunami of seniors, estimated at 77 million baby boomers, with 10,000 people turning age 65 every day, and 4,000 turning age 85. The Kelly’s Kansas City assisted living home is meeting the needs of these aging seniors and is a heart-warming success for the RAL industry nationwide.

Good News Spreads Fast

The must-read story is spreading fast. Recently, KCTV Channel 5 News reporter, Betsy Webster, featured RAL Academy student Don Kelly in an article titled, Senior home in Johnson County is a landmark first. Assisted living homes are generating media attention across the country, but this success story is quite unique. Don’s childhood is marked by humble beginnings, growing up across the street from Municipal Stadium. It was Christmas day 1971 when the Chiefs vs. Dolphins playoff game was the longest in NFL history at Municipal Stadium. Jackie Robinson, the first black Major League Baseball player, broke the baseball color line when he played for the Brooklyn Dodgers. Robinson’s journey started at Municipal Stadium playing for the Kansas City Monarchs in 1945. During Kelly’s childhood, he was not able to step foot into the legendary stadium, because his family couldn’t afford tickets. That didn’t stop him from capturing clips in his consciousness while watching from their third-story window.

Stadium To Senior Living Home

Thirty years later, they purchased the entire vacant block where the municipal stadium once stood. The couple built Our Home Senior Care, an assisted living residential home with 12 bedrooms, 6,600 square feet and luxury touches throughout. A black kid raised across the street from a stadium that he couldn’t afford admission, now owns the land and the first senior home in Johnson County. They named it Monarch Manor, honoring the legendary Negro Leagues team that once played baseball there. The Monarch Manor is not a big box nursing facility. It offers a much greater level of care, more independence, and a family-style feel. Don is also a church pastor and he says that his entrepreneurial enthusiasm comes from God, and his fearless confidence is inspired by faith and family. His vision is to combine construction with connection – the power couple plans to build more assisted living homes.

What’s Stopping Some People From Pursuing Opportunities

  • Personal Limitations
  • Lack of Passion 
  • Lack of Persistence 
  • Talking Oneself Out of a Good Thing
  • Fear 
  • Ill-Equipped 
  • Lack of Examples to Follow

Donald says, successful people are usually the ones who push through obstacles, find others who have succeeded and learn from them. “When they don’t have the answers they usually keep asking until they get them,” he said. Donald had experience with homebuilding and found business quite difficult through the economic downturn of 2008. 

He persisted with a “can do” attitude.  It was after his business began rebuilding that he came across the RAL Academy. One of the responses they often get from residents and people who tour their RAL facility is that “it feels like home.” 

People often reply that “this is the kind of place that I could live in.” Their business model also includes comprehensive support for residents who need memory care and adult day services.

Doing Good And Doing Well

What is the shared motivation between Donald and Talinda Kelly that fuels their success in residential assisted living? “We are only blessed so we can be a blessing,” Donald said.

Talinda’s passion to do good is motivated by interacting with her mom in rehab. Frustrated by the limited resident-to-caregiver ratio, she wanted to make a difference. “It inspired us to do something better, instead of complaining about it,” Talinda said. “We can build something, we can do something.” As a result, their journey to do good and do well started with the Residential Assisted Living Academy. Residential assisted living is the largest market growth opportunity in a generation.

The 3-Day RALAcademy course is putting people on a fast track to support and success. Students are learning how to capitalize on this mega-trend. Step-by-step students are learning A-Z how to secure a RAL business. Some students say the courses are inspired by God. RAL Academy owner, Gene Guarino, is determined to do good and do well, while sharing his success secrets with others. Visit www.RALAcademy.com to learn more about how Donald and Talinda Kelly hit a homerun their first time in the ballpark of residential assisted living. According to Donald, “The thing that separates successful people from the rest is persistence mixed with passion.”