From Novice to Pro: My Journey into Assisted Living Investing
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I want to share my story of how I got into the assisted living business. I’ve faced challenges, learned a ton, and had some amazing moments along the way. Now, I’m excited to share some helpful tips with you! Whether you're just starting out or want to grow your assisted living facility, I hope my journey will inspire you.
Check out the video, too:
From Healthcare Professional to Entrepreneur
I started working in healthcare back in 2013. I even got two master’s degrees in Business and Healthcare Administration. My career was rewarding, but by 2020, I felt ready for something different. I wanted to make a bigger impact, so I thought, “Why not combine my healthcare experience with a new challenge, real estate?” That’s when I discovered assisted living!
The Turning Point: Real Estate Meets Assisted Living
At first, I thought real estate investing would be my ticket to success. My plan was to flip houses and eventually buy an assisted living facility. Then, a mentor asked me, “Why not start with assisted living if that’s your goal?” That question changed my entire approach.
I decided to dive right in! I started learning about rules, talking to health departments, and trying to turn houses into facilities. But Utah, where I lived, had strict regulations that made it tough to convert homes.
Lessons from My First Deals
I began looking for assisted living facilities already up and running. My search led me to LoopNet, a website that lists businesses for sale. It was my first time talking to brokers, and I felt a bit out of my league, but I kept going. I checked the numbers and signed my first non-disclosure agreement (NDA). The Utah property I looked at didn’t look profitable, but I still learned a lot from analyzing the deal.
Then, in May 2020, I found a great opportunity in Colorado Springs. Even though COVID-19 was happening, I decided to take a chance. By September 2020, I had bought my first facility! A few months later, I bought another one in Idaho in February 2021.
Overcoming Challenges and Building Success
Running facilities in different states was tricky. Each place had different rules and challenges, but each experience taught me something new about managing and growing my business. Now, I own two successful facilities, and I’m proof that hard work pays off!
I believe assisted living is a fantastic way to invest. It's not just about making money—it's about making a home where residents feel happy and well-cared for.
How You Can Start Your Assisted Living Journey
Thinking about getting into assisted living? Here’s my best advice:
Start Small but Start Now
Don’t wait for the perfect time. Begin by researching, talking to brokers, and learning the rules in your area. You don’t need to know everything right away—just get started!
Use Helpful Resources
Download your FREE Business Plan Checklist to help you create your business plan to make the process easier.
Stay Consistent
Success doesn’t happen overnight. It’s all about taking small, steady steps. Keep learning and don’t give up, even when things get hard. Little by little, you’ll make progress.
Closing Thoughts
Assisted living is a special business. It’s a way to make a positive impact on seniors' lives and gain financial freedom. As the demand for quality care grows, there’s a real chance to make a difference.
I’m here to support you on this journey. Let’s keep learning and working together. With hard work and the right mindset, you can achieve your goals and make a positive difference in your community.
If you need help building a solid business plan, make sure you download your Business Plan Checklist. If you need help launching your business, apply to the Assisted Living Investing Mastermind program to get expert guidance on building your business plan, finding property, securing funding, obtaining licenses, and running and scaling your business.
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