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.