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
- Instability in the Post-Tension Slab
A post-tension slab is a section of cured concrete with tensile forces within the slab.
- 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.
- 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
Attn: Chris and Michele Taylor
(775) 507 – 4125
8255 Opal Ranch Way
Reno, NV 89506