All Forum Posts by: Gene Guarino

Residential Assisted Living is my specialty.  

There are operators that would be happy to be your tenant with a long term lease at up to twice the market rent.  

Location is the key.  

Check out my info in my signature line below to get more information.

Gene

My friends Ben and Phillip at Mom's House, specialize in these types of properties.  

I would HIGHLY recommend you find them online and reach out to them for their input.  

Great guys.

Gene

I own these types of homes and rent them to operators.  

It works out great

Long term low impact tenant at higher then market rates.  

What you would need is the same financing you would use for rental properties

Gene

The liability isn't a major issue if you have the right set up and insurance.

I own homes that I lease to operators of Residential Assisted Living businesses.

Take a deep breath, you'll be fine if you follow what I share with you here.

The RAL business, your tenant, should have professional business liability insurance.  

They can name you as "an additional insured" at no cost to you or to them.  

Check 1st to insure they do have the liability insurance then have them contact their insurance company to add you as an additional insured party.

Gene

Julie and Dean,

CONGRATULATIONS!!!

Great share and so glad you avoided some mistakes and challenges along the way.  Proud of you for making it through the rest and staying focused on the goal.  To have 2 homes under your belt and operational in LESS THAN 1 YEAR is a great accomplishment.  Well Done!

Hello Betty,

Getting through the process is doable but Its all about 2 things.

1- knowing the law as it pertains to the Federal Fair housing act.  You should work with an experienced attorney that knows this world inside and out.  If you try to "do it yourself" you will likely get shut down as you have experienced.  There is a national association for RAL.  The membership is free and they have attorneys that specialize in the FFH act and zoning.  Check them out and learn more.  RALNA.org

2- Presenting yourself properly.

Gene

Hello Wade,

RAL is what we do 24/7.

If you would like to learn more, check us out.

Gene

Hello Juan,

Thats exactly what we do every day.

Our motto is: Do Good and Do Well.

Check us out.

Gene

Hello Eric

I don't check BP often, hence the delayed response.

Reach out to the team using the contact info below.

There is a lot to know and I would recommend getting training before buying anything.

Don't get discouraged, get educated

Gene

That would be a commercial loan.  Your best options are SBA, Private Lenders and Local Banks that want to support local businesses. Gene