Assisted Living Homes Create Massive Cash Flow with Gene Guarino - Episode #97
ฝัง
- เผยแพร่เมื่อ 20 ต.ค. 2024
- Generate $36,000 of monthly income and $10,000 of monthly cash flow per single-family residence used as an Assisted Living Home (ALH).
Demographics tell the story. Our aging population means there will be more need for senior housing.
Gene Guarino of the Residential Assisted Living Academy tells us why and how to own and operate ALHs.
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Listen to this week’s show and learn:
01:05 Get $5,000 - $15,000 cash flow per month from one single-family home.
01:37 Upcoming guests on future shows include T. Harv Eker and Tom Wheelwright.
02:50 40 million senior citizens today will balloon to 89 million by 2050.
05:15 Single-family homes - not giant institutional complexes - are a great niche for the individual investor / businessperson.
08:09 Don’t be involved in the day-to-day operation of the ALH.
09:13 Ideal ALH location. Home size 300-500 sf per person.
13:20 No commercial kitchen. Grab bars, wide doors.
14:18 Profit & Loss Statement. $36,000 / monthly avg. income for ten private rooms in one ALH.
17:51 Owning vs. Leasing the real estate to operate your ALH.
19:43 Zoning, Licensing, Liability Insurance.
27:13 How do you find an ALH?
31:19 State-administered trainings vs. business-oriented trainings.
32:39 Financing.
37:15 Occupying your ALH with residents.
39:27 “Mom & Pop” ALHs.
42:04 Caring for others.
43:35 What does an ALH manager do?
45:00 Gene shows others how to provide ALHs with a live 3-day Training, and at RALAcademy.com
Resources Mentioned:
RALAcademy.com
CorporateDirect.com
NoradaRealEstate.com
RidgeLendingGroup.com
GetRichEducation.com
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Please bring Gene back for another video! Amazing!
Yes, I've never heard a better speaker about Assisted Living Homes. -Keith
Gene is returning to the show in early 2019. It will be his third appearance on Get Rich Education!
Having a 4 bed 2 bath home. I was told max 6 elders living in the home for rcfe. If I charge each resident $4k and gross revenue is $24k. My mortgage is $2k. Caregivers pay at $12/hr (average in so cal) multiple part time to avoid overtime and benefits 24 hrs a day, 30 days per month is $8,640. Food $1k/month. Electricity, trash, utilities, security system, etc. $1k, rental and business insurance $500/month. So currently at approximately $14k in expenses with only one caregiver at a time and without a manager and also this does not include marketing which I've noticed is really expensive. And this is at full capacity. I'm not trying to be negative, but I really want to know is it really as easy as they make it seem. Just seems easy to break even or worse, lose money.
Shelley Sheri where are you located
Shelly you are spot on. The "gross" income sounds great, but you figure in EXPENSES you will not net much or might end up in the red. Labor alone will consume 2/3's of your Cashflow. It would be better to do a "Group" home with (with no sick people) and NO CAREGIVERS.
@@MarandaX. I live in California
@@Buildsolarhomes Is there a strong demand for that? Are you referring to a group home with adults or children (minors)?
Shelley Sheri 2k mortgage is very high.. but that’s the normal in California.. California is an expensive place to live.. so maybe charge 5k for the residents instead of 4K.
I've found gold!
So $10 a care giver and room and board 24 hr service? What if the care giver has a family/kids ? Seems like it could be a high turnover burnout rate for them