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Brian Davila Show - Real Estate Investing, Building Wealth, Faith Based

Owning & Operating Assisted Living Homes For Seniors

Brian Davila Show - Real Estate Investing, Building Wealth, Faith Based

Wealthy Investor - Real Estate Investing, Real estate, Build Wealth, Faith Based

Flipping Houses, Wholesaling Real Estate, Business, Investing, Rental Property, Real Estate, Real Estate Investing

2.5884 Ratings

🗓️ 24 September 2023

⏱️ 10 minutes

🧾️ Download transcript

Summary

How you can start your own assisted living business... We want to coach you at Wealthy Investor! Book a call with the team here - https://wealthyway.co/yt -- Are you living The Wealthy Way? Take the quiz and get FREE access to the “Wealth Builder Academy” where Ryan goes over all the fundamentals of building wealth. https://www.wealthyway.com/ Would you like our team to help build your personal brand? Apply to join Pineda Media at https://wealthyway.co/rj9 Looking to grow in your faith and ...

Transcript

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0:00.0

So we focus only on residential, so a single family home being used to house somewhere between six and 16 seniors,

0:07.2

depending on where you live in the country, 24 hour care, medication management, three meals a day. They're getting the same

0:13.7

quality care that they would at a big box facility like a Brookdale or a sunrise, but

0:18.7

they get to stay in a home setting. So when I say single family, I don't mean a three bed two bath. I know a lot of people jump to that. But our homes in Phoenix,

0:27.4

there one's 11 bed, 9 bath, another one's a 10-10, another one's a 9-7, and they all house 10 residents.

0:35.6

So they're big properties.

0:37.1

They're big properties, luxury properties, and nice upscale settings.

0:40.6

Mm, okay, so I guess like what got you into assisted living?

0:45.0

Yeah, actually my grandma fell sick and my family was like, okay, what are we going to do?

0:50.3

Like we don't want to put her into a facility and nobody can really quit their job and take care of her full time.

0:55.2

So what is that next best step?

0:58.0

And she was living in upstate New York at the time and we searched and searched and searched for something suitable for her and honestly I didn't want to leave my

1:04.7

goldfish at these places let alone my grandma right they were terrible they

1:08.8

smelled bad the care was bad the food was bad and it was like we can't give

1:12.4

her this towards the end of life we need to give

1:14.4

her the best of the best. We went back to Arizona where we lived at the time and figured hey

1:18.5

there's a lot of old people here we're probably going to find better options and

1:22.4

we kind of stumbled into residential assisted living.

1:25.4

My dad did quick math and he's like, wait, we're going to pay five grand a month for her to live in the home

1:30.4

or we could own the real estate, own the business, cash flow 10 grand a month, and she could live for free.

1:36.0

We're buying this.

1:37.0

Without knowing anything about it, we bought the real estate and the business, got in, and kind of learned through lots of scrapes and bruises what to do what not to do and

...

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