Episode 17 | How to Purchase a Single-Family Home and Convert it into a Residential Assisted Living Facility
In this episode, Brandon Gustafson guides beginners through the process of purchasing a single-family home and turning it into a residential assisted living facility. He discusses crucial steps such as purchasing the home, conducting market research, and developing a robust business plan. Brandon emphasizes the importance of zoning and fire department approvals before renovations, ensuring compliance with standards like FGI, and obtaining necessary licenses. He also highlights helpful resources, including a free underwriting calculator, a business planning guide, and his mastermind program. The episode aims to equip viewers with the knowledge to successfully buy, convert, and operate a residential assisted living facility.
00:00 Introduction to Assisted Living Business
00:22 Getting Started: Essential Resources
00:40 Step-by-Step Guide to Buying a Home
01:02 Market Research and Business Planning
01:58 Financing Your Purchase
02:33 Alternative Acquisition Strategies
03:33 Converting Your Home: Zoning and Approvals
04:51 Renovations and Compliance 06:53 Licensing Your Facility
08:17 Recap and Final Thoughts
09:18 Additional Resources and Support
Resources Mentioned:
Visit our website, AssistedLivingInvesting.net, for additional resources, including our year-long mastermind program and free underwriting calculator.
Get your free business plan checklist today: https://urlgeni.us/alibpc
Learn about the Assisted Living Investing Mastermind: assistedlivinginvesting.net/mastermind
Apply for a free strategy call today: https://urlgeni.us/alistrat
Learn the five steps to help you start an assisted living business: https://youtube.com/live/dRVCa80SOyM
Get the 12 Week Year Book: https://amzn.to/4bAOpQf
Courses:
- Do you need guidance on your journey to launching your assisted living business: https://urlgeni.us/aliala
- Do you need help building your business plan: https://urlgeni.us/alibpg
FREE Resources:
- Business Plan Checklist: https://urlgeni.us/alibpc
- Calculator: https://urlgeni.us/alicalc
- Lease Agreement Template: https://urlgeni.us/alila
- ProfitPath Analysis Tool: https://urlgeni.us/aliprofitpath
- Grant Writing Template: https://urlgeni.us/aligrant
Need help with your payroll? Get Gusto: https://gusto.com/i/brandon9590
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