227: $10K Monthly Cash Flow With Each SFH
Get Rich Education · Keith Weinhold
Audio is streamed directly from the publisher (traffic.libsyn.com) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
#227: You are aging. So is America. The U.S. median age keeps rising.
We need more senior housing. Your demographics are baked in the cake.
Gene Guarino, owner of the Residential Assisted Living (RAL) Academy & I tell you about the opportunity.
Serve seniors by converting Single-Family Homes into Assisted Living Homes (ALHs).
There are two distinct pieces here:
1) The real estate.
2) The business with residents & care staff.
Average U.S. ALH tenant pays $4,000 per month x 10 residents = $40,000. Your net is about 30%. That's $12,000 month.
We discuss how to find the right real estate and strategies for filling it with residents.
Rule of thumb: 300 sf for every resident is quite comfortable.
Learn how an ALH-SFH "Profit & Loss Statement" looks.
ALH tenants are long-term, low impact, and pay above-market "rent".
My friend Brandon heard Gene here on the show before. Brandon got started. We discuss.
It's easiest for you to buy an existing business. If you can't then learn about your care staff's necessary qualifications.
Financing for ALHs? 80% loans.
__________________
Want more wealth?
1) Grab my FREE E-book and Newsletter at: GetRichEducation.com/Book
2) Actionable turnkey real estate investing opportunity: GREturnkey.com
3) Read my best-selling paperback: getbook.at/7moneymyths
__________________
Resources mentioned:
Brandon's e-mail: [email protected]
Mortgage Loans: RidgeLendingGroup.com
Cash Flow Banking: ProducersWealth.com
Turnkey RE: NoradaRealEstate.com
QRP: TotalControlFinancial.com
Find Properties: GREturnkey.com
Follow us on Instagram: @getricheducation