All Forum Posts by: Juan Pablo Murillo

@Samuel Ksiazkieicz

Who did you end up going with? I have landlord policies on my MI rentals with State Auto Insurance. But now that Liberty Mutual has acquired State Auto, the policies have increased by more than 100%, and I'm in the market for a new insurance provider.

Context: My three business partners and I want to run a residential assisted living facility business. We want to acquire a property, remodel it and open a RALF business in South Florida. We want company A to own the real estate and company B to run the RALF business. Company B pays rent to Company A. 

What business structure to choose for each company? We're thinking to choose LLC for both. Any benefits to choosing S-corp for either of those? Comments appreciated.

If you're in this line of business in Florida, I would like to connect with you. 

Hi @Justice Jacobs

I do have specific questions. 

1) How do you structure the company? I was thinking about having one LLC for the company owning the real estate and one LLC for the company running the business. Some context: I have a business partner I invest in SFRs with. For the assisted living facility, we plan to add one more partner. So we'd create new LLCs. Any thoughts? I'm interested in how others structure their ALFs.

2) I'm thinking of going with an SBA 504 loan to acquire the property and do the remodeling. Can anyone share their experience on this?

3) Are you relying on placement agencies for getting the initial clients? At what point do you start marketing? What are the main marketing channels you use?

4) This is not a question. Just a point. I want to network with those investors who work on the business and not in the business. I'm interested in running the business without being involved in the daily operations of the facility after the first year. Don't get me wrong, acquiring the property, doing the remodeling, setting up the business, getting the staff and clients will be work, and I'm willing to do some/oversee the rest. My point is I'm not interested in having a second job.

Currently doing analysis on identifying top zip codes for the facility based on criteria like age distribution, median income, education levels, % of home ownership.

Thanks

Hello! 

Did anyone get started with their first residential assisted living facility? I'm looking for case studies.

@Steve Morris I want to know if he went for it or not. If he did, I want to know what was his experience in the coaching program and if he recommends it to others.

@Steve Morris

I interpreted that line as:

I have found a mentor, but I have yet to agree to his/her terms. I'm here to get other people's opinions on the terms, so I can take an informed decision.

That's why I am following up.

@Scott Morongell

You bring up an interesting alternative to coaching. I'd like to learn more about it.

QQ: You mention looking for a local company and interning/working for them to learn the business. Later in your final paragraph you say the company you chose was not local to you. I’m a bit confused. Can you clarify? Thank you

@Bayo Adebowale Did you end up choosing a mentor to work with? If so, who did you choose? I’d like to hear more about your experience?

@Stephen Kleyn

Did you proceed with the mentorship program? I'm curious to know about your experience with commercial real estate.

I'm also exploring mentorship options for commercial real estate. I'm ready for the next step in my investing. Currently buying and holding single family rentals. Thanks

Any updates on this thread?