Assisted Living Network Podcast

Assisted Living Network Podcast

By RAL AcademyBusinessInvesting
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Assisted Living Network Podcast episodes

  • The Golden Girls Model for Residential Cash Flow

    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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    9 min
  • Overbuilding? The Right Place and Right Time for Assisted Living

    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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    8 min
  • Is the Mom and Pop Model or the RAL Model Best for You?

    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.

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    9 min
  • The Difference Between Memory Care and Assisted Living

    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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    9 min
  • The Influence of Age and Longevity on Residential Assisted Living

    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.

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    13 min
  • Senior Activities within Residential Assisted Living

    Activities for seniors come in two main categories: mind and body. Activities that engage the mind are ones that offer the seniors social, spiritual or intellectual interaction, with themselves and others. Activities that engage the body are physical ones. Having both kinds of activities are incredibly important for healthy aging. Here’s a quick look at some types of activities in each category.

    Mind - the mental activities for seniors should engage their minds. Some examples of great activities that fit the bill include arts and crafts, reading a book or listening to an audiobook, playing board games, or listening to music - especially music from their generation. Activities like these help seniors in both a social and mental aspect, bringing calm and clarity.

    Body - the physical activities seniors can do are limited, but it doesn’t change their need to stay moving and active. Stimulating the muscles helps blood flow. It can be done via exercise like senior yoga, water aerobics or low resistance band training. It can also be done with therapeutic machinery.

    Seniors should be engaging in activities from both categories each day, consistency is key. It is incredibly important in order to help keep them vital, active, happy and healthy!

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    12 min
  • What to Look for in an Assisted Living Home

    Before you begin choosing an assisted living home, perhaps for a parent or grandparent, there's some key points you need to know! First is price. In America, the average cost for a private room in an assisted living facility is $3,600. That's a lot. But you get what you pay for, and you do not want your relative living in average. A reputable facility costs closer to $6,000 a month.

    The second key point is location. For the best choice, you’ll want to have a location that is conveniently located for you. The facility should be easy to get to and close to home or work. You're the one who's going to come to visit, make that easy on yourself!

    Finally, what’s the home like? Is it clean and inviting? Check out the physical space; the private and public areas. Are rooms shared or semi-private? What services does the kitchen offer? Is the dining space appealing? What other amenities and activities are offered by the home?

    Those are just the basics - there’s a lot more to consider. We’ve been through every step of the process and can help you understand everything you need to know about assisted living.

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    12 min
  • Finding Your Passion in Assisted Living

    What do you have a passion for? Making money? Helping others? Food? Travel? Whatever your passion, it is incredibly important! There’s a method to finding out what you love:

    Explore - give yourself a chance to explore some different things.

    Talk to People - ask some other people who are successful about their experiences with things you’re wanting to explore. Take them out for lunch or a coffee and just have a chat.

    Learn More - utilize all of the resources you can to learn more about the subject you’re interested in. Read books and articles. Go online to check out forums and blog posts. Learn all you can.

    Attend Seminars and Conferences - expose yourself to people and thought leaders in the realm of what you’re thinking of pursuing. You’ll learn more about the subject and if it’s really right for you or not.

    Just Start - give whatever you’re interested in doing a try! Even if it’s just one step or just something small. Give it a go and see if it’s really your passion.

    Your passion is very important. Not just to you, but for other people. Perhaps Residential Assisted Living could help you enjoy your passions more - or even be your passion!

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    10 min
  • Overbuilding in Assisted Living

    A lot of people today are talking about overbuilding in assisted living and senior housing communities. But what is overbuilding and does it really exist? Seniors that need help and care, they are unable to live alone, need a bed in some type of senior housing facility. Right now there’s a boom in senior housing being built all over the country. Facilities and beds are being built in some places more than others. There are a few areas that are overbuilt, which mean they have more beds than they do seniors to fill them, but most are under built and there are many areas where senior living facilities are nonexistent.

    There’s an average of 4,000 people turning 85 each day -- that’s 120,000 a month or 104 million people a year turning 85. The baby boomer generation is aging. It’s a silver tsunami of people that will need help and care in the form of a senior living facility. This means there is a huge opportunity! A golden opportunity to do well and do good at the same time. The Residential Assisted Living Academy is here to help you take advantage of this opportunity with exclusive resources every step of the way!

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    12 min
  • Senior Housing - Big Box vs The Home

    When it comes to senior housing facilities, there are generally two types: Big Box and Residential Assisted Living facilities. Here are some of their main differences. Big box facilities feel like a hotel. They try, but it is hard to get that homey feel in a facility for hundreds of people. Residential assisted living homes are single-family homes converted to house a few seniors.

    One obvious difference is one is big while the other type of facility is small. This difference plays a big part in the caregiver ratio, which is the number of staff compared to residents. In a small facility an average ratio is 10 residents to 2 caregivers, very reasonable. In a big box facility, the ratio is closer to 20 residents to 1 caregiver. Big box facilities have more people for residents to interact with, while smaller homes offer more freedom.

    The cost difference is notable as well. Smaller facilities generally charge a reasonable flat rate for residents. Big box facilities charge a monthly rate and bill additional services. Looking outside, small homes are in a residential neighborhood while their bigger counterparts are commercial buildings surrounded by parking lots. One fe els institutional, one is a home.

    Go here for more information:
    http://www.assistedlivingnetwork.com

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    12 min

About Assisted Living Network Podcast

From the publisher's feed

Welcome to the Assisted Living Network, presented by RAL Academy, a podcast designed to help you discover how to successfully invest in the booming Residential Assisted Living market.

If…

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