Assisted Living - Independent Living

[David Hoke]

I have been researching residential assisted living homes.  Essentially purchasing and converting a single family home into a home that will house 8-16 seniors and provide caregivers, etc.  Does anyone on Biggerpockets do this?  If so, I'd love to learn more about your successes, hurdles, etc.  Also, has anyone done the training with RALacademy?  Thinking about it....

Thanks in advance for your help!

Dave

[Sendhil Krishnan]

@David Hoke

Hi David, I too have done the RALA home study course and can give you great feedback - just PM me. In brief i found it was plenty helpful for me to get started on my RAL journey and previously i posted about my experience in starting my own house in Scottsdale (a 10 bed/10 bath) facility. I'm glad to say that as of last week I hit a milestone of 100% occupancy after opening July 1st 2019. 

The main thing you will need to do before renovating any house or building is to make sure you have a good team in place (an administrator or a licensed care home manager). They will be instrumental in telling you where to build, how many residents they can handle, and also will give you more accurate estimation on the actual budge to make your pro forma with. 

I hope to post more on this topic but getting a manager on your team should be the first thing you...not the last!

check out my previous post about my care home journey) and reach out if you would like more info..

https://www.biggerpockets.com/forums/48/topics/753142-my-ral-residential-assisted-living-care-home-journey