Dashae,
Even better! We create custom business plans for our students, please schedule a discovery session with a team member when you complete your training course to determine what support package is best for your needs. Talk soon,
Gene Guarino
Dashae,
The Financial Suite is included in our Platinum level support package, yes!
Other pieces involved: policies and procedures, architectural reviews, crowdfunding, custom business plans with me on your board of advisors, legal docs, staffing secrets, state by state rules and regulations, inner circle membership, phone & email support, and more!
Schedule your discovery session as soon as you graduate this course so we can talk about your next steps.
Thank you,
Gene Guarino
Gene just mentioned Upstate NY! That’s where I live and want to open an RAL facility. Where did you live, Gene? Can I make this work here in Upstate NY??
Francesco,
Marketing your home early is key. You can use placement agents, befriend local churches, synagogues and temples. Get involved within your local geriatrics community and let everyone know you exist and what you have to offer. Meet with other RAL home owners in the area and form friendships, this is a tight knit community. Let them know you’re happy to send referrals when you are full and hope they can do the same in return, also talk to them about sharing staff, as to not have to pay overtime (as most caregivers will work full time in two homes). Open houses are great and local promotion is also super important. There are some trainings we offer on giving amazing tours and coming to RAL NAT CON is also another way to sharpen your tool to really make sure that everyone walks through your doors, signs up to live with you.
Isabelle
You mention an exit but give no examples of options. Here’s a few we’re thinking through and I’d like to get your input
1. Selling the property and operations to one buyer. Have you seen this happen before? Who are typical buyers? What multiples have you seen?
2. Selling the homes but continuing to run the operating company. Have you seen this happen before? Who are typical buyers? What multiples have you seen?
3. Selling the operating company to a PE fund or senior living operator and continuing to collect rent. Have you seen this happen before? Who are typical buyers? What multiples have you seen?
Have you seen any of these exit opportunities occur before? Am I missing any other exit opportunities I should be thinking about?
Raphaela,
1. Yes, typical buyers would be someone trying to get into the industry, a big box owner trying to get into the smaller RAL style homes or someone adding to their portfolio of homes. The more you have to package up and sell off at one time, the bigger check you could get at the end. Most of our students are aiming for 5-10 homes in one package. It’s not based on a multiple, like a typically business purchase, it’s usually a set fee you choose based on the reputation of the home, how full the home is, and the rates you’re receiving from the residents consistently.
2. I haven’t seen this, but I have seen starting off with someone else owning the home, and you running the business within their property. Then you buying the RE from them so you are a full owner of the RE and the business. I guess you could sell the property to someone, but it wouldn’t benefit you, because they typically charge twice the fair market rent.
3. Yes, this is more common, you own the RE and lease it to someone whose going to run an RAL within your home. There really aren’t many, if any, true operating companies who run these, it’s more like one individual who wants to start one. You could charge up to twice the fair market rent on this deal.
I would say 90% of peoples chosen exit is getting a bunch of amazing homes up and running and packaging them together and selling as one group.
Isabelle
How long is the discovery call? It seems like a lot of stuff is discussed. Are we given an outline so we know what will be discussed and can come prepared with questions? How long do we have to decide on what packages we would like to purchase?
Theresa,
The call is as long or short as you need.
Anything can be discussed, we only work with certain students so it’s more of an interview to see if it’s a right fit for all parties involved.
Isabelle
Hi Gene.
I’m attending the 3 day event but it is 2 months and a week away. You mentioned there will be a financial worksheet available during the event.
I’m ready to take action now.
I am having my home refinanced, waiting to close, and can take advantage of some equity cash out to use for capital. I’m in Texas. Can you give me a rough figure of how much I will need to get going with my first RAL?
Jan,
Totally depends on your deal and what you’re looking to do to the house – we would love to help you get started sooner. When you graduate this course, scheduled your next steps call with Kellen and he can go over those add-on options that we have for you to get rocking and rolling right away! Thanks,
Isabelle
Do you have a template for business plan?
Dashae,
Even better! We create custom business plans for our students, please schedule a discovery session with a team member when you complete your training course to determine what support package is best for your needs. Talk soon,
Gene Guarino
Awesome. Would that include the financial sweep?
Dashae,
The Financial Suite is included in our Platinum level support package, yes!
Other pieces involved: policies and procedures, architectural reviews, crowdfunding, custom business plans with me on your board of advisors, legal docs, staffing secrets, state by state rules and regulations, inner circle membership, phone & email support, and more!
Schedule your discovery session as soon as you graduate this course so we can talk about your next steps.
Thank you,
Gene Guarino
Gene,
Can you discuss the Financial Suite you mention in this section during the Discovery call? Is this part of one of you package?
Thanks, Vincent
Correct! They will cover that in the call you schedule once you graduate.
Look forward to working with you soon,
Gene
Gene just mentioned Upstate NY! That’s where I live and want to open an RAL facility. Where did you live, Gene? Can I make this work here in Upstate NY??
Jeremy,
Gene currently lives in Arizona and all his homes are located there. But you can make this work anywhere!
Isabelle
Gene,
When or where can we expect to learn about how to attract clients?
We are enjoying the study. Thanks!
Francesco,
Marketing your home early is key. You can use placement agents, befriend local churches, synagogues and temples. Get involved within your local geriatrics community and let everyone know you exist and what you have to offer. Meet with other RAL home owners in the area and form friendships, this is a tight knit community. Let them know you’re happy to send referrals when you are full and hope they can do the same in return, also talk to them about sharing staff, as to not have to pay overtime (as most caregivers will work full time in two homes). Open houses are great and local promotion is also super important. There are some trainings we offer on giving amazing tours and coming to RAL NAT CON is also another way to sharpen your tool to really make sure that everyone walks through your doors, signs up to live with you.
Isabelle
You mention an exit but give no examples of options. Here’s a few we’re thinking through and I’d like to get your input
1. Selling the property and operations to one buyer. Have you seen this happen before? Who are typical buyers? What multiples have you seen?
2. Selling the homes but continuing to run the operating company. Have you seen this happen before? Who are typical buyers? What multiples have you seen?
3. Selling the operating company to a PE fund or senior living operator and continuing to collect rent. Have you seen this happen before? Who are typical buyers? What multiples have you seen?
Have you seen any of these exit opportunities occur before? Am I missing any other exit opportunities I should be thinking about?
Raphaela,
1. Yes, typical buyers would be someone trying to get into the industry, a big box owner trying to get into the smaller RAL style homes or someone adding to their portfolio of homes. The more you have to package up and sell off at one time, the bigger check you could get at the end. Most of our students are aiming for 5-10 homes in one package. It’s not based on a multiple, like a typically business purchase, it’s usually a set fee you choose based on the reputation of the home, how full the home is, and the rates you’re receiving from the residents consistently.
2. I haven’t seen this, but I have seen starting off with someone else owning the home, and you running the business within their property. Then you buying the RE from them so you are a full owner of the RE and the business. I guess you could sell the property to someone, but it wouldn’t benefit you, because they typically charge twice the fair market rent.
3. Yes, this is more common, you own the RE and lease it to someone whose going to run an RAL within your home. There really aren’t many, if any, true operating companies who run these, it’s more like one individual who wants to start one. You could charge up to twice the fair market rent on this deal.
I would say 90% of peoples chosen exit is getting a bunch of amazing homes up and running and packaging them together and selling as one group.
Isabelle
How long is the discovery call? It seems like a lot of stuff is discussed. Are we given an outline so we know what will be discussed and can come prepared with questions? How long do we have to decide on what packages we would like to purchase?
Theresa,
The call is as long or short as you need.
Anything can be discussed, we only work with certain students so it’s more of an interview to see if it’s a right fit for all parties involved.
Isabelle
Thank you.
Hi Gene.
I’m attending the 3 day event but it is 2 months and a week away. You mentioned there will be a financial worksheet available during the event.
I’m ready to take action now.
I am having my home refinanced, waiting to close, and can take advantage of some equity cash out to use for capital. I’m in Texas. Can you give me a rough figure of how much I will need to get going with my first RAL?
Jan,
Totally depends on your deal and what you’re looking to do to the house – we would love to help you get started sooner. When you graduate this course, scheduled your next steps call with Kellen and he can go over those add-on options that we have for you to get rocking and rolling right away! Thanks,
Isabelle