What Are Your Favorite Business Books When You're Out There Building Your Real Estate Residential Assisted Living Business?

Isabelle: What sets apart successful investors from those who give up fail or never get started? Rob: Having grit, getting punched in the face and getting back up. Isabelle: If you don't know why you're doing what you do and it doesn't light you on fire, then stop doing it. The real estate investor's favorite business book is "5am club"

Play episode from 01:03:44

chevron_right

Transcript

chevron_right

Transcript

Episode notes

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

BiggerPockets Youtube Channel

BiggerPockets Forums

BiggerPockets Pro Membership

BiggerPockets Bookstore