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:
- Save time,
- Save money, and
- 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.