671: Will the “Silver Tsunami” Flood You with Cash Flow?
BiggerPockets Real Estate Podcast
BiggerPockets
4.8 • 16.5K Ratings
🗓️ 6 October 2022
⏱️ 71 minutes
🧾️ Download transcript
Summary
Assisted living investing isn't your typical type of rental property investing. When someone thinks “I want to get rich in real estate,” they’re often not considering setting up a home for seniors, those in medical decline, or medical patients. Investors almost prematurely dismiss any idea of RAL homes (residential assisted living) if they have no medical background and no personal need to do it themselves. This can become a costly mistake, especially when the evidence adds up on why assisted living could be the most recession-proof real estate investment out there.
Isabelle Guarino-Smith is one of the investors that decided to go down this path. Without any medical experience of her own, she led her family business to become a successful assisted living brand throughout the state of Arizona. When her grandmother needed care many states away, Isabelle’s father realized that building not only a better facility, but a more profitable portfolio, was a smart move to make. And this risk has paid off significantly, as Isabelle now takes home a five-figure monthly cash flow from each of these properties.
She knows that the “silver tsunami” is coming in quickly and that capitalizing on this niche now could mean even great profits in the future. But, this isn’t all about the money for Isabelle and her team. She’s seen how much better care seniors can get in smaller facilities and that this type of investment doesn’t just pay itself back in profits, but in knowing that you’re making a difference in the lives of those who need it most.
In This Episode We Cover:
How to transition from residential real estate investor to assisted living specialist
The three types of senior housing facilities and the only one worth investing in
The “silver tsunami” that’s on the way and how to capitalize on it before it’s too late
Financing options for assisted living investments and how to raise capital
Renovation tips, common costs, and how much you can expect to make on your first facility
And So Much More!
Links from the Show
Get Your Ticket for BPCon 2022
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
Get More Deals Done with The BiggerPockets Investing Tools
Find a BiggerPockets Real Estate Meetup in Your Area
Here’s Why You Should Consider Investing in Senior Living
Should You Invest In Senior Housing (And Is Now the Right Time)?
Genworth’s Cost of Care Survey
Books Mentioned in the Show:
Rich Dad Poor Dad by Robert Kiyosaki
The Pumpkin Plan by Mike Michalowicz
The 5am Club by Robin Sharma
Connect with Isabelle:
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Transcript
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| 0:00.0 | This is the Bigger Pocket Show 6.71. |
| 0:04.8 | Nothing is recession proof, but this is probably as recession resistant as you could get. |
| 0:09.9 | Because when money gets tight, you know what you pull back on is those high-end items, |
| 0:15.0 | that Euro-trification, that Disney trip with the kids, you stop going to Airbnb. |
| 0:19.6 | You stop buying nice items, but you're not going to stop paying for your loved ones' care. |
| 0:25.9 | Like that, you just don't do that. So this is probably as recession, you know, |
| 0:32.2 | resistant as you can get. What's going on there, Bigger Pocket S listeners, |
| 0:36.8 | this is David Green, your host of the Bigger Pocket's Real Estate Podcast here today with my co-host. |
| 0:42.7 | Rob, the STR Specialist Abisolo, and we've got a great episode for you today. |
| 0:47.3 | We are interviewing Isabel Gorino, one of the industry experts in residential assisted living |
| 0:53.6 | facilities. This is a new strategy investing in real estate that is relatively unknown and not |
| 0:59.2 | talked about very often, and we bring you a ton of information that would help you decide |
| 1:04.2 | is this an investment strategy that you should get into. Isabel's family is one of the premier |
| 1:09.2 | experts in this space, and she does not disappoint. One of the things that we should highlight |
| 1:12.9 | about today's show is this is a strategy that sort of becomes a hybrid of business with real estate, |
| 1:18.3 | and we see in the industry this is becoming more and more popular. Short-term rentals are actually |
| 1:22.4 | a good example of this. You're not just buying a house, you are running a business, and the real |
| 1:26.0 | estate becomes a part of that business. This is similar to cattle ranchers. A lot of people don't |
| 1:30.8 | realize a lot of cattle ranchers don't make a ton of money on the actual cattle, but they usually |
| 1:35.1 | do on the land. And I think in the future we're headed towards a world where real estate and business |
| 1:40.4 | are more closely tied together. The real estate element kind of supercharges the business. It's |
| 1:44.9 | becoming a little less passive, but you're able to make a lot more money. My personal opinion, |
... |
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