Episode 92:
Gene Guarino speaks in over 50 cities and 5 countries on Residential Assisted Living and the opportunities for business owners, operators, investors and entrepreneurs. He has trained over 300,000 people over the past 30 years on topics ranging from real estate investing, starting your own business, entrepreneurship and he has focused exclusively on Residential Assisted Living for the past 7 years. He has hosted 3 radio shows and authored 4 books including: “BLUEPRINT” – How To Start Your Own Residential Assisted Living Business and “The Insider’s Guide To Investing In Senior Housing” Gene has been married for 34 years, has 4 children and 2 grandchildren.
What you’ll learn about in this episode:
- How assisted living residences differ from nursing homes, and why real estate investors should be interested in assisted living
- What responsibilities the property owner has (and doesn’t have) toward residents, and what kind of numbers you could expect to see from a single property
- How investors have the option of either owning or leasing a property, and what kinds of homes can be converted into assisted living residences
- Why local demographics is the biggest consideration for where to look for the ideal properties to turn into assisted living
- How Gene’s average renovations cost is between $10k-200k depending on the condition of the home, and how these properties easily turn between $5000-6000 a month in profits
- How Gene finds managers to run his properties, and what qualities he looks for in an assisted living manager
- What other expenses to expect when owning an assisted living residence, and why there is a huge and ever-growing need for these residences
- How Gene has gone beyond investing in assisted living and has begun training other investors to replicate his success
- Why having several of these facilities clustered in close proximity is the idea sweet spot, and how a single manager can manage multiple properties
Resources:
- Website: www.TheMentorPodcast.com/Seniors
Additional resources:
- Website: www.TheMentorPodcast.com
- Website: www.RonLeGrand.com
- Get Ron’s $599 Wholesaling course for FREE when you join his Gold Club for ONLY $59 a month! – https://thementorpodcast.com/GC92