Q: How much time do I need to invest?

A: This is a “go at your own pace” type of program, but the more time you put into it the faster you will see results. Most people put in 5-10 hours per week and make incredible progress.

Q: How fast will I see results?

A: Everybody’s results will vary. It’s dependent on the work you put in mixed with the speed of the people you’re working with (lenders, the state, city inspectors, etc.). However, in phase one, building your business plan, with consistent effort, you’ll likely have something to show for it in the first 2-4 weeks.

Q: Will this work for me specifically?

A: The Assisted Living Mastermind program follows the process I used to purchase 2 facilities and is the same process I’ve taught multiple clients who have used this process to start their own businesses as well. The program is designed to take you through a five-phase process that will work for everybody trying to launch their assisted living business.

Q: What is the five-phase process?

A: Our five-phase process takes you from the beginning to help you build a foundation all the way through launching and scaling your business. Our five-phases are:

Q: What’s in the Business Plan phase?

A: In the business plan phase, you’re building your business plan, performing underwriting, and doing market research to help you find the right location. The reason this phase is so important is it helps build a foundation for everything else you will do. You get clarity for yourself, and you will also have something you can hand to a lender, partner, or investor so they can see what you want to do and have confidence that you will succeed.

Q: What’s involved in the phase of finding a property?

A: In the business plan phase, you’ll have identified your criteria, and you will now take those criteria to an agent or broker who can help you find the right property. You’ll need to check on zoning and make sure the fire department performs inspections on the home so you know what renovations you need to have done.

Q: How hard is it to obtain funding?

A: It depends. The biggest factors are going to be the value of the real estate and the value (or potential) of the business. Lenders, regardless of the type of lending they do, will look at those two items to determine if they think it’s worth the risk to work with you. This is why solid underwriting is so important; it not only helps you feel confident in your decision but also helps a lender feel confident in your investment. The hardest part is to find a lender to say “yes”; you’ll get told “no” a lot, but if you are consistent, you’ll find a lender that will say “yes,” and everything will fall into place from there. I’ve been able to secure over $1.5 Million in funding through the SBA, though, and can coach you through the process.

Q: The licensing process seems confusing, is it really that hard?

A: Navigating the healthcare industry's rules and regulations can be confusing. At its core, though, the assisted living licensing process is not all that difficult. You need to fill out applications and receive approvals, as well as put together your policies and procedures. I have a master's in healthcare administration and over a decade of experience in the healthcare industry, plus years of experience running successful assisted living facilities, and can help you navigate the licensing process in whichever state you decide to operate.

Q: What is it like running an assisted living facility?

A: Running an assisted living business involves a lot. You are in charge of your staff and residents and must ensure they get everything they need. There’s never a dull moment. But you also get to build incredible relationships with people as you care for them, plus the positive impact you get to make on the community is incredibly rewarding. It’s hard work, but it’s so worth it. At assisted living investing, we help you learn how to maximize your time and effort to run a successful and impactful assisted living business.

Q: Can I run this business remotely?

A: Yes! I own two assisted living businesses and run both of them remotely (out of state, in fact). It involves hiring and training the right people so that everything runs smoothly and you feel like you can trust that things are running how you’d like them to.

Q: How involved do I need to be in running the business?

A: This is entirely up to you. I operate my facilities out of state and have relatively little involvement in running the business; I delegate that responsibility to my facility administrators. However, you may want to be very involved, even becoming the facility administrator. Wherever you land on that spectrum is fine; you get to choose how involved you want to be.

Q: Do I have to be the facility administrator?

A: No! You can if you want, but you are not required to be the facility administrator if you own and operate the business. I live out of state from my facilities, which are in two different states. They both run fine and generate a profit.

Q: What’s the hardest part of running an assisted living business?

A: Staffing is the most difficult part of running an assisted living business. Caregiving jobs are high-turnover positions, and keeping your facility fully staffed can be difficult. The more time you spend investing in your staff (pay, benefits, perks, etc.), the better off you’ll be. We teach you some of the strategies that we’ve learned through the years that help increase the likelihood of finding and hiring good staff that will stay with you long-term.

Q: How hard is it to find residents?

A: Most people think finding residents is difficult, but in reality, there are so many people out there looking for assisted living services that the hardest part is choosing which resident is the best fit for your facility. At Assisted Living Investing, we help you build a solid marketing plan that will help you get in front of the right people so that you can bring them into your home and keep your occupancy rates high.

Q: Can I really be profitable working with Mediciad?

A: Medicaid gets a bad rap because it can be confusing. And, admittedly, it can be difficult to navigate. However, at Assisted Living Investing, we teach you strategies on how to leverage Medicaid to help fill your beds and become/stay profitable. Medicaid isn’t for everybody, and that’s okay, but it can be a great strategy and lead to a profitable assisted living business.

Q: Does the program do policies and procedures for me?

A: At Assisted Living Investing, we do not create custom policies and procedures for you. However, we do provide you with a copy of the policies and procedures we use at one of our facilities and instructions on how to edit them to make them your own. We do about 80% of the work for you, and you just have to finish things up.

Q: Is assisted living really as profitable as it sounds?

A: Assisted living can certainly be as profitable as it sounds, but you’ll want to underwrite each opportunity you come across to make sure it’ll work for you. At Assisted Living Investing, we provide you with the tools and guidance you’ll need to know how to underwrite an opportunity to see successfully how profitable your assisted living business might be.