Residential Assisted Living Newbie Investor saying Hello!

[Stephanie Cruz]

Hello BP Fam! I'm a Real Estate newbie and a new-ish BP member. I first got into researching about RE while I was on maternity leave for during the beginning of the year. I was deep into thought on how my work-life balance was going to be being a new mom and a career-driven woman. I talked to a lot of other mothers and found that everyone would tell the same story complaining about how ridiculous the American system is for only allowing mothers to be on 3 months of leave and expecting us to go back to work and having to "deal with it" just because society expects us to do so. Long story short, my husband and I made every conscious effort to make a change for ourselves that eventually led us to make this life-changing decision. We are still both working but at least we know that we are setting ourselves up for financial independence and eventually having the freedom to enjoy our time with people and experiences that are most important to us. Bigger Pockets played a very significant part for us to take this first step.

My husband and I purchased our 1st investment property 2 months ago and we are turning the property into a Residential Assisted Living Facility. I work as a Hospice and Palliative Registered Nurse and have been to a lot of Residential Assisted Living Facilities in our community and I recognized that there is a huge need for facilities that can provide outstanding quality of care to our elderly population, hence the investment for a RAL. It's a win-win situation for me. My husband, 11 month old and I are currently house hacking, living in the property while the rehab is ongoing and hopefully staying here until we jump into the next property to purchase. The rehab will be completely done by the end of this week. Woot woot! There is a licensing process with the state of California that takes an average of 3 months (but can be longer) and we need to be cleared by the State before we are able to open our doors and accept residents. 

I was just wondering if there are any other members currently investing in Residential Assisted Living that I can reach out to who is open to discussing strategies that they use, what to lookout for and best lessons you've learned along the way? We have a whole plan of how to scale this business and a vision of how to eventually be passive and I am open to questions and suggestions.

Also, if there are any investors thinking of going this route, please feel free to reach out in case there is something I can help you with. Thank you in advance!