All Forum Posts by: Carlos Castañon

thank you @Sendhil Krishnan for sharing this very valuable information, specially for those of us who are trying to be successful investors in this industry. 

After reading your post, I confirm that hiring the right manager is the keystone task for this business. 

Don't you think that here could happen the same of SFH that @Joe Splitrock mentioned? I mean, there are large facilities that have suffered a lot. But maybe people would like to turn sight to SFH converted to Assisted living. This properties can house 8-10 seniors. Lot less exposure.

Thanks @Gene Guarino... I'm actually schedule to assist your RAL course this June (hopefully I can make the trip).

"If you want to own the business and you do not want to be involved on a day to day basis, you can do that, if you set it up properly. You get the theme here I'm sure"

Hope you can teach me how to do that... Most likely I'll purchase the house out of state (In California 5beds are way to expensive) so, I'll need to find a way to structure my business to be successful with out me being there. 

Also Gene, how do you see this business facing the recession? 

Hope to see you soon at PHX. 

Kind Regards 

I'm also looking to invest in RAL. Houston is one of my options so far. How are you approaching this investment? Are you going to operate the business, or hire someone?  

Thanks @Evan Polaski 

"so there very well be a lot of people that want to start their own assisted living business and just need a house to rent to get it started." ... I guess it comes down to that if you just want to be involve only in the real estate part. 

@Sendhil Krishnan many tks... I’ve heard about Gene an actually was planning on enrolling to his training course, do you recomend it?

Hi everyone! First of all, I hope you and your love ones are doing fine with this Coronavirus issue. Take Care!

So, I´ve been exploring different niches for my initial investment in Real Estate and one of them is Residential Assisted Living (RAL). Apparently numbers are good but my concern is that this type of investment may requiere more attention and involvement. For instance, you have to look for the caregiver who is willing to run the place. Then you´ll hope that he or she runs a good business so you can collect your rent. 

The other option is that you get involved in the operation of the Care business, BUT I think that´s very specialized and will demand al lot of work. 

Anyone already involved in this kind of investment? How "passive" can this business be? 

Best!

tks! agree with going slow with this first deal. It´s just that I can´t find the right channel to get deals. 

I just received a lot of good advice from other BP members. I´ll get to work on it. 

thanks @Mary M.. Actually I´m not considering finance on my NOI. I take it out from the NOI and that´s my cash flow.

thanks @Sam Martin, of course those properties have been long in market for some reason. They may carry more risk in terms of location or rehab. But I get that it is part of the game and that by taking those risks you´ll be able to find deals.