All Forum Posts by: Laura Abbott

Jason, I'm leaving for Dallas this morning for more mastermind meetings and additional memory care training for residential assisted living . I know people who own these types of homes there.  I'd be happy to put you in touch with them.  They may be able to tell you about the market, whether you would get your desired numbers, etc.

Jason, the assisted living business is a wonderful, socially responsible, profitable business, and it's at least a consideration.  Naysayers will always be naysayers.  Nobody is recommending that you go out and just do this willy nilly.  Get training.  Residential Assisted Living Academy out of AZ is a fantastic place to get training.

Please disregard ANYONE who thinks they have the ONE solution for you.  If you're looking for assets that produce an income, single family homes are something you can absolutely you can do.  However, in my experience, owning a lot of single families is a big responsibility and can be time consuming.

Best of luck to you!

Congratulations on thinking outside the box. I would recommend you look into owning at least the real estate portion of a single family memory care or assisted living home. If you own the house and business you can also put your mother into the home and perhaps she won’t have to pay a monthly fee at all. 

I have identified a handful of properties which work very well for the single family assisted-living/memory care model. If you are interested in excellent returns and a JV partnership, let me know.

Contact Emmanuel Guarino.  He's the leading expert realtor on buying/selling assisted living homes in AZ.  Sorry, don't have contact info; you'll have to google him.  But tell him Laura Abbott sent you.

Check out Residential Assisted Living Academy in AZ.  RALA.com.

Jean Guarino @RALA has the best training

Yes, you should be able to.  You need to find out what license is required and that will tell you what steps you need to take and give you specs on what the actual house/home would require.

I agree that it seems too small to be profitable. I disagree about paying more than market rent. Depending on the property I would/could pay TWICE the fair market rent and it would still be profitable. 

My first question would be:  is this one-level living?  If it's not, you'd have to either add a chair lift or an elevator.  Then I would start with an online search for whatever they are called in your state.  Different states call them different things.  Then you can go visit them, write them a letter or call them on the phone.