Residential assisted living facility
hello,
I've just recently learned that the next booming business is RALF. I have a property I was going to flip but I'm seriously considering turning this property into a RALF. Upon discussing my plans with the city and the fire Marshall, they mentioned that I can have up to 8 residence within the facility. I just don't know what steps to take to turn this plan into reality. The plan is not to run the operation myself but just to bring on an experience adminitrator(s) to run the operation for me. Are there any RALF association I can join to get guidance? I'm still on the planning stage and everything is not so clear just yet. Should I just rent my place to an entity to run their own RALF or should I just own the business and just hire an administrator and staff members? Which is the better approach?
I read the residential assisted living academy in Phoenix offers a 3 day live course for $3k and charges additional $25k for more in depth training. Any advise you can provide is greatly appreciated. Thanks so much in advance
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I found a operational 20 bed facility listed for sale on the MLS and acquired it in Oct. 2016. We have learnt a lot since then and just closed on our second 20 bed facility last month. We are ready to scale our operations and are looking facilities outside Michigan too.. ideally we would like to partner with people and help them run the facility. We are looking for facilities in OH, AZ, Texas and Florida at this time.