Episode 31 | Best Places for Assisted Living in 2024
In this episode of the Assisted Living Investing Podcast, host Brandon Gustafson shares valuable insights into the top markets for assisted living in 2024. He introduces his market research guide, which is part of his business planning guide course, and provides a detailed overview of how to identify the best locations for starting an assisted living business. Brandon discusses the importance of various market demographics, including median age, income, and housing costs, while also addressing regulatory considerations in different states. Additionally, the episode highlights the advantages of using existing facilities versus converting homes, and offers practical tips for those interested in launching their own assisted living business. This episode is packed with useful information for beginners looking to achieve time and financial freedom through assisted living investing.
00:00 Introduction to the Podcast
00:28 Top Markets for Assisted Living in 2024
00:39 Market Research Guide Sneak Peek
01:04 Host's Background and Experience
01:57 Research Process for Top Markets
06:01 Market Demographics Deep Dive
11:02 Top 10 States for Assisted Living in 2024
14:30 Community Interaction and Q&A
24:56 Challenges in Assisted Living Industry
26:41 Wyoming: A Top Choice for Assisted Living
28:55 Florida: A Popular Market for Assisted Living
32:21 Optimal Size for Assisted Living Facilities
35:10 Missouri: A Growing Market for Assisted Living
36:20 Filling Occupancy and Expansion Plans
39:32 Converting Properties for Assisted Living
43:37 Temporary Residents and Revenue Strategies
45:45 Finding Suitable Properties for Conversion
49:38 Conclusion and Resources
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 the Mastermind today: alimastermind.com/application
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
Who Not How by Benjamin Hardy : https://bit.ly/whonothowbooklink
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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