Despite the myth, you can absolutely operate a Residential Assisted Living home hands off. Your job is to hire a manager, who then hires the caregivers and finds residents for the home and manage that relationship with the family. You are looking for those high-quality people who love what they do. The type of person we're talking about is not just there to make a dollar. They're there because they want to be there. They love to work with seniors and this is a part of who they are. So if you do it properly your job is to manage the manager. You can even do it hands on if you chose to. There is no right or wrong way in those two options.

You should live where you want to live, but work and have your business where the numbers make sense. The reality is, if I have 10 people in my home and they're paying $5,000 a month, we can make a lot of money. But if I'm in an area where I can't fit 10 people in the home because maybe the home itself is too small, and maybe those people who are living there can't pay a lot of money. But the key is the location and having the right team setup.

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There are tens of millions of seniors in our country today who will need assistance with their Activities of Daily Living, according to AARP. That doesn't mean they're all going to move into an assisted living home or facility, but they will need help. They're at home all alone and maybe they can take care of themselves, but frankly they would much rather have people around them. They understand that being with other seniors their age is vital to their health and their mental stability and wellness as well, so it's a great thing.

You know, a lot of people think the government's going to take care of the long-term care needs of the parents or grandparents in their life, and the answer is, well, the federal government does give money to the state government. The state then comes up with a program. They may pay out $2,000 a month for long-term care assisted living, but that amount is going to be reduced by whatever income they have. They basically say to their citizens, show us that you're of age, let's say 65 and above, show us your assets, your income, your age, and we'll determine if you qualify for our program.

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The first myth that I want to cover with you, is whether Residential Assisted Living is considered commercial or residential. We talk about Residential Assisted Living because it's a single family home, in a residential neighborhood. Now the home itself might be a little bigger than your average home but we are using this for commercial purpose. I didn't say we're operating a business that's different because most places that have an HOA, and have covenants, codes and restrictions, are going to have some kind of wording in there that says you can't operate a business out of your home.

When we talk about Residential Assisted Living, it is a residential home and a group home for the elderly, so it's not a business. We don't have a lot of customers coming and going all day long. When it comes to the lending, It's a residential home. It's non owner occupied, so you could pretty much go to any bank as if you're just going to buy a house that you're going to use as a rental property, it's called non owner occupied because you're not living in the house. You can also use private lenders, investors and joint venture partners, people who will provide the capital that's needed.

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When you think about assisted living, most people think about a large institutional setting. Some of the new facilities have independent assisted living and skilled nursing all in the same area with a lot of amenities. The advantage of the big box could be that they start with independent living and then move to more advanced care options.

One advantage of the small Residential Assisted Living facility is it’s your own space, that bedroom is yours. There’s only a limited number of peers that they're sharing the rest of the space with. A bigger benefit is the consistent staff and more individualized care with the resident to caregiver ration. It is not just home like. It is a home.

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There are 77 million baby boomers in America alone. That is 4,000 people turning 85 every day, 120,000 every month, and 1.4 million this year alone. So when we are talking about 1.4 million baby boomers a percentage will check into assisted living. The fact is that 70 percent of us are going to need help with our Activities of Daily Living for an average of three and a half years. Whether they live at home and have help, or they go to a residential assisted living home, they are going to need that help. But when you do need to send them someplace, you want it to be a home, which is what Residential Assisted Living is.

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The Golden Girls Model is a real concept in true independent living. There are 2 sides:

1. The user side, the person living in the home.

2. The Business side, the opportunity.

The users are the people living in the home. They want to continue living their life as independently as possible. We are talking about a group usually all women or all men, there are no caregivers, cooks, or housekeepers. They generally have a private bedroom but may share bathrooms, living room, kitchen, shared porch or deck, and maybe they share the garage or driveway. This is true independent living.

The business side is easy. You may have a three bedroom, two bath home for rent, You could rent it out by the bedroom and focus on seniors who want to live in that community. The have private bedrooms and possibly a private bath or half a bath. You include utilities such as heat, A/C, water, and cable. You maintain the home and charge $1500 per month per bedroom. In a three bedroom home this would be $4,500 per month, and seniors typically live in a home for many many years. Someday these Golden Girls may need assisted living, which is a great opportunity to transition into a Residential Assisted Living Home.

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When the recession hit the market changed in regards to commercial investments and assisted living. The big builders finished the projects they were currently working on and then stopped all new building. However the need for assisted living didn’t stop. People were still aging and moving in and needed it. Those large facilities filled up as no new facilities were being built. 

So when we are talking about overbuilding, let’s think about it differently. These big box companies have done their research. They know that where they are building is the perfect location based on the number of people there, the amount of money they have, their age, the demographics and the ability for them to pay. If you see a big box facility coming to your town that is a good sign.

If you can locate at the end of their driveway that is awesome, but within a few miles would be ideal. They have already done the market research for you. You know the people are there and if they know you are there, you become the alternative, the boutique home with 10 to 12 beds, versus the large institutional building with 212 beds. You have the better product in the right location. So let them overbuild.

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In a Mom and Pop Model there is a family living in the home. This option is for people who want to be completely hands on 24/7/365. They have the desire to take care of people and want to be the manager, caretaker, cook, baker, candlestick maker, etc. They will have their food and housing taken care of by the money they generate from this model. If being completely hands on is what you want, then this may be the best option for you.

The RAL Model is for those who want to be the business owner. You focus on purchasing a home in the right location, and of adequate size to give plenty of space for the residents. You hire a manager, who then hires the caretakers, and is in charge of the daily management of the RAL home and ensures that the needs of the residents are taken care of. You have the freedom to enjoy the income that is generated, and to open more homes. After all, if you can do it once, you can do it twice or possibly three times.

🎓 Ready to turn your passion into profit? Join Isabelle Guarino’s private Skool community to learn how to launch, run, and grow your own residential assisted living business. Get access to exclusive trainings, expert Q&As, and a like-minded community all in one place. Start learning today! → https://www.skool.com/ralacademy/about 

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What are the many differences between Memory Care and Assisted Living?

Memory Care is for those who have been diagnosed with memory issues or dementia. There are typically fewer residents in the facility. The facility is a lockdown facility with either a magnetic lock or a combination lock for safety and security of the residents so that they can not leave the facility on their own. The locks are tied into the emergency systems so that they unlock if any of those systems are activated, to allow the residents and caretakers to leave safely. And the caretakers usually are required to have more training including memory care, sometimes over and above state regulations. Assisted Living is for those who need help with the activities of daily living, such as bathing, dressing themselves, eating, taking their medications, or they want the companionship of other peers their own age, And may be recommended based on an incident such as a fall. The Assisted Living facility usually has 12 to 15 residents. The security is minimal with resident access as well as the safety of lock release in case of emergency. And the caretakers may only be required to have minimal training according to state regulations.

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Your longevity, how long and well you live, is a projection of your health. Part of that is genetic, but the other part is how well you treat your body, what you do with it and what you put into it.

One of the things to pay attention to is the food you eat. Think of the food as fuel. Is it high octane or low octane? Vegetables, lean meats, fruits and other fresh foods are full of rich vitamins and nutrients. Foods high in sugar and fat aren’t and can actually have a negative impact on health. Also, if you're taking in too much fuel, you won't burn it off, the body will store it. Don’t forget to hydrate with plenty of water!

Another important part of health is moving and staying active. Your body needs to do more than sit around in front of the TV. It needs consistent activity or exercising. In fact, studies show the more active you are the healthier you will be. The third component to health and longevity is social interaction. Engaging and connecting with other people helps add that spark to life. Health, longevity, social interaction all work together as we age.

🎓 Ready to turn your passion into profit? Join Isabelle Guarino’s private Skool community to learn how to launch, run, and grow your own residential assisted living business. Get access to exclusive trainings, expert Q&As, and a like-minded community all in one place. Start learning today! → https://www.skool.com/ralacademy/about 

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