Gene Guarino - Investing in the mega-trend of senior assisted housing.

with... Gene Guarino

At each REIA-Las Vegas general meeting, we have a market update, exchange of real estate deals, and educational information. This includes Expert Panels, National Speakers, Professional Experts and Local Speakers.

Wednesday, January 24, 2018

Alexis Park
375 E. Harmon Ave
Las Vegas, NV 89169






Gene Guarino is President of Residential Assisted Living Academy™ in Phoenix, AZ and has over 30 years experience in real estate investing and business. Today, Gene is focused on just one thing… investing in the mega-trend of senior assisted housing.

Having trained tens of thousands of investor / entrepreneurs over the past 25 years, he now specializes in helping others take advantage of this huge opportunity.

Gene is also a CFP, (Certified Financial Planner) in the US and in Australia. Since 1976 he has owned and operated sixteen businesses and been an angel investor in numerous others. Gene has written four books, hosted two radio shows and has spoken to over 250,000 people in four countries since 1990.

Gene’s goal is to help people by training investor / entrepreneurs how to… “Do good and do well”. Below is an article from Gene.

FOLLOW THE MONEY IN RESIDENTIAL ASSISTED LIVING

How much can I make?  

That is a common question I get when people come to the Academy to learn about Residential Assisted Living. 

There are 2 directions that you can go. 

  • Own the Real Estate and rent it to an operator
  • Own the Real Estate AND operate the Residential Assisted Living business as well.

If you own the home and lease it to an operator, you can get up to twice the fair market rent.  As a real estate investor, that’s going to change your positive cash flow from a few hundred dollars to potentially a few thousand dollars a month. Significantly different. 

In addition, your tenant will want a longer lease.  3, 5 or even 10 years.  They will not want to lose their lease.  Typically they will also be a lower impact tenant that will take care of the property better then the average tenant.  They are generating income and they will want the home to be kept up and well maintained to generate that income.

You may be asking, why would someone be willing to pay you up to twice the fair market rent for your home?  Simply put, they will be making a huge profit so it works for them. 

Location is the key.  If you have the right location and the home is the “right” home for operating this business, then it is a win win situation. Many people can’t or choose not to buy the location they operate their business in.  Not everyone is a savvy real estate investor.

Zoning is one of the first considerations.  Many people are surprised when they discover that this can be done in a residential neighborhood even with an HOA.   Knowing the best locations and then knowing the terms and the questions to ask are critical.  Without that knowledge you will most likely make costly mistakes and get a simple response of “you can’t do that” from the town or city that your property is in.  Knowledge is key.

The amount of rent you charge will depend on many factors including: what improvements are you willing to do, what are you willing to allow the tenant to do, length of the lease, rent concessions etc.

How much profit can the operator of the home make?

The national average for a private room in an assisted living facility is $3,600 per month per person.   If your home is licensed for 10 residents, that is $36,000 in potential gross income. 

If the expenses and the debt service $26,000, you are netting $10,000 a month in profit.  If you focus on a “nicer” home you can charge higher then average rent.  The expenses are virtually the same with just the potential increase in the debt service.  If your debt service increases by $3,000 a month and you can generate an additional $10,000 to $20,000 a month, that’s pretty simple math.  

If you’re interested in learning more about the Residential Assisted Living opportunities, attend January 24, 2018 6:30pm – 9:00pm Alexis Park Resort 375 E. Harmon Ave Las Vegas, NV 89169

We are very excited to have Gene join us and learn his tips and tricks to success!

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Date: Wednesday, January 24, 2018
Time: 6:30 PM - 9:00 PM

Location:
Alexis Park
375 E. Harmon Ave
Las Vegas, NV 89169

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