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Your Step-by-Step Guide to Successful Assisted Living Facility Ownership |
How to Open an Assisted Living Facility |
Assisted Living Facility News Links
Is The Typical Cost for an Assisted Living Facility $12,000 a Month? Therapy Dog Brightens Lives at Assisted Living Center Fishers Council OKs Dementia Facility Opening Doors to the Elderly Couple Finds Niche with in-home Foster Care Leesburg Facility Keeps Alzheimer's Victim, Spouse Under Same Roof
Local Health Care Facilities Prepare for the Next Generation NHI Completes $67 Million Purchase Of Six Skilled Nursing Facilities Assisted Living Facilities Trying to Keep up with Aging Population Assisted Living Facilities a Popular Option for Virginians
Assisted Living Communities Across County Face Off in Wii Bowling
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Why You Should Open An Assisted Living Facility
Real estate investors, this is the answer you've been waiting for. You're savvy enough to know that now really is the time to start buying houses. If you're like everyone else, you're just waiting for an idea better than the rehab and sell for a $15,000 - $20,000 profit approach we all love and miss. You may even have a property or two you can't sell or don't know what to do with. You may have the opportunity to put contracts on several great deals. You wait because you have no clue as to an exit strategy. Foreclosure deals and short sales are everywhere. Owner financing and no money down deals are not hard to find. Three and four bedroom homes have flooded the market, and nobody knows what to do with them. Do you have a nice three of four bedroom house sitting empty not located between two rival outlaw biker gang clubhouses? If you do, you may be able to rent out EACH bedroom for $4000 PER MONTH! If the bedrooms are big enough, and your state allows it, you may be able to put two people in one room for a total of $8000 per month per bedroom. Yes, that’s right, $8000 per month, per bedroom. If you have a five bedroom house, that’s $40,000 per month, every month. Of course not every dollar is profit, but I didn’t have to tell you that, did I? If you’re like me, you’ll want to pay people to do most of the work for the least money possible. Don’t worry, I will tell you how to do that too, but not quite yet. You may want to get an energy drink of some kind, because you’ll want to be wide awake for this next part. If you think pulling in $20,000 a month sounds good, wait until I explain how you can get up to $40,000 in advance to get things up and running.
Open An Assisted Living Facility Small Apartment Buildings - The Alternative Real Estate Investing Technique for 2010 and Beyond
I also hope that all the money talk didn’t make you forget about the nice people who will be paying you to live in your ALF. There are several more reasons to convert your empty or non performing rentals into ALFs.
ALF residents can’t just pick up and move while you’re spending the weekend in Key West. They need time to find a place as nice as your ALF, and you know that’s going to be hard to do. Tired landlords happy with clearing a couple hundred dollars a month are screwed if their tenants skip out on their leases. They can’t make their mortgage payment until they find another renter who may stay six or seven months. What about security deposits? Have you ever had to evict a bad tenant? What’s losing a $200 security deposit to skip out on three months back rent to a tenant who could care less if you’ll go into foreclosure? Tenants know they are protected more than landlords in most states, and they take advantage of pro-tenant laws. They also know they did way more than $200 damage to your house, not to mention the things they stole too. So they figure they’ll let you keep their 200 bucks and call it even. When you own an ALF, you’re no longer in the real estate business. You don’t charge tiny security deposits. You demand, and get. up to $8000 per resident in advance. $8000 goes a long way in helping you survive having a vacancy in one of your five ALF for a couple weeks. When there’s that much money involved, you usually don’t have to worry about 87 year old deadbeat ALF residents skipping out on you in the middle of the night. Even if you lose one of your residents to… lets say, more natural causes, then you still have your other four to nine residents each paying you $4000 per month. You can get by on $16,000 per month for a couple weeks while you get the next person on your waiting list moved in, can’t you? Here’s Another Reason to Open an Assisted Living Facility
The folks in your ALF will call it home, and will treat it as such. Let’s face it, its hard for a group of 87 year old residents to trash a house. Since you could have up to eight residents in some states, a sense of community pride will ensure that your property is not trashed or turned into a crack house. Don’t forget about the professionals who will be caring for, or supervising your residents. They have a vested interest, and it is part of their duties to do daily maintenance that will prevent major system failures. The professionals working in your ALF will also be able to keep and eye on your property while making sure a “Grannies Gone Wild” video is NOT filmed in your ALF.
If You Buy Foreclosures, Shorts Sales, or Small Apartment Buildings Get Started Now - For Free!
This website used to be an eBook I sold for for up to $29.99. I have recently converted the information into the free website you are visiting now. Why is this website free? I just didn't have time to print, bind, and ship books anymore. I offer highly targeted advertising to real estate agents, assisted living facility consultants, commercial lenders, attorneys, and accountants at an amazingly low rate because I am not trying to get rich from this website. To get started now, read through the Step-by-Step guide at top-left side of this page.
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