July 12, 2017 by Webmaster CEA 36 Comments
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Ryan Weihler says
October 23, 2017 at 6:42 pm
Who are some attorney’s you would recommend for entity planning?
Gene Testing says
October 24, 2017 at 3:21 pm
Toby Mathis / Anderson Advisors
Amanda Garner says
November 13, 2017 at 2:30 am
Just wanted to mention that it’s email@example.com and Toby is GREAT!!
Jennifer Lett says
January 28, 2019 at 6:33 pm
Hi Gene! Does Toby Mathis cover all states, or just certain ones. Is Alabama on his list?
January 29, 2019 at 1:19 am
He does cover all states!
Robert Sills says
April 19, 2019 at 7:52 pm
do you have a reference for an attorney in Washington state? thanks!
April 20, 2019 at 4:32 pm
Anderson Advisors is nationwide, that is who 90% of our students use!
Larry D. Williams Williams says
September 17, 2019 at 9:36 pm
There is no access to the final test on my screen!
Isabelle Guarino says
September 18, 2019 at 2:29 pm
Make sure on the lesson before that you clicked the big green button that says something about CONTINUE TO NEXT LESSON, if you forgot to click that before moving on, the system won’t register that you’re done with the previous lesson.
DiAnne Matheny says
September 20, 2019 at 11:14 pm
Wow what a learning experience this has been and the journey is just starting. Looking forward to the convention in 2 weeks and then at the end of Oct my husband and I are going to the 3 day. I can hardly wait. Looking forward to meeting you and all of the staff.
September 22, 2019 at 8:57 pm
Can’t wait to meet you DiAnne!
John Jacobs says
October 30, 2019 at 1:23 pm
You keep referring Toby Mathis / AndersonAdvisors.com.
What is it that they specifically do? Do they help create an Entity for Business Structure, are they Attorneys for Asset Protection OR both? Are they also Tax advisers or would I need to consult another firm?
October 30, 2019 at 4:43 pm
They can help with all of the above and more and if they can’t they will connect you with someone who does.
They are VERY familiar with our industry so instead of hiring someone else and having to explain every little thing, it’s much easier to work with someone who already knows everything and has tons of experience in this specific field!
T K says
December 30, 2019 at 2:05 am
I didn’t see the quiz for this lesson that Gene mentioned just a mark as complete option. Did I miss something?
December 30, 2019 at 3:59 pm
If you don’t see a quiz then there may not be one.
If it’s not allowing you to go to the next lesson, go back and re-take or just take the quiz.
Monica V Bailey says
January 17, 2020 at 3:42 pm
I have enjoyed going through the course. There is a lot of information to absorb. I am looking forward to the three day course. I’m looking at the April course.
January 17, 2020 at 3:59 pm
Love it! Look forward to seeing you there!
Amir Saljo says
February 24, 2020 at 9:28 pm
Isabelle and Guene,
Thank you for your time and effort to create the opportunity for the rest of us who are already involved or planning to be a part of RAL business community. I had been looking for some kind of RAL educational materials on the internet but without any success. GRE podcast hosted by Keith Weinhold ( I started listen few months ago) was my way to discover RAL academy. The courses were very informative and more I learnt more I realized how little I had known:). The knowledge me and my wife gained will definitely put our RAL business on the next level. We definitely planning to come and attend one of your three day course in Phoenix in the near future!
Dulce and Amir Saljo
February 25, 2020 at 5:46 pm
Dulce and Amir, I am so glad you enjoyed the course.
Can’t wait to meet you in class soon! To your success!
Timothy Nichols says
March 15, 2020 at 3:45 pm
Hi Gene and Isabella,
My wife and I have done a hundred some rehabs over the last 12 years, so I hope our team and experience will help us move quickly. As you can imagine, we always have to deal with cash flow as rehabbers even though we have some consistent cash flow from student rentals, vacation rentals and mobile home parks. Is it feasible to set up and get running 3 homes within six to nine months for the purpose of selling for a half million dollar net profit for example? That would help us feel more comfortable with our current cash flow and then set up lots of homes for us to keep throughout the years. We also had several furniture stores before getting into real estate, so hiring and setting up businesses is pretty normal for us. By the way, I’ve played drums and trombone for over 40 years (I’m 57) and my wife plays all the saxophones and flute (her age will remain unknown). My dad had a big band we played in for most of those years as a hobby but still did 70 or so gigs a year. It’s so fun to hear that music is part of you as well! Tim and Janet
March 15, 2020 at 5:38 pm
Tim & Janet! Love it!
It sounds like you’ve got lots of great experience. The fastest we’ve heard of someone “getting in the game” is two months, but they purchased an existing RAL home. If you’re looking to purchase a SFH and convert, that will take as long as you need, maybe 6-12 months? Depending on what needs to be done to the home, are you just adding ramps and guardrails and maybe widening doorways? Or are you adding on 3000 sq/ft? Those timelines and costs will vary greatly depending on what you’re doing. I am not going to say it can’t be done, but you also need to factor in the timeframe of getting licensed and hiring and training the staff and then filling the home with residents. If you’re looking to get a home up and running and then sell it off, it’s significantly more profitable if the home is already full of residents and has a good reputation and management team, etc. If you’re just looking to convert the RE piece and then sell it to someone who is going to run an RAL within the home, you might get a bit more than what the regular RE is worth because of the conversions you saved them from having to do. There are A LOT of questions with your plan stated here 🙂 as you can see! Can’t wait to watch your success!
Paul Piccione says
April 26, 2020 at 8:54 pm
High Gene and Isabelle: Great course! I am looking forward to progressing on with my quest to open my first home. Quick question: As one of the students above posted, I also do not see a link for a final quiz for this section, even though I selected complete, continue to the next section in Module 8. When I got to the end of the module 9 section, there is no “mark as complete”, no quiz, etc. Am I doing something wrong or is this a system glitch. Thanks in advance!
April 27, 2020 at 3:39 pm
Please disregard. I think this had to do with establishing an account on Credly. After doing this and waiting until the next day, the final exam quiz showed up in this module. Thanks, and looking forward to my Discovery Call!
April 27, 2020 at 3:40 pm
It may be at the bottom of the screen after the final lesson, if not, there may not be a quiz for that section.
I’m not exactly sure where you are along the way, but if it’s letting you continue you should be just fine, thank you.
Jeff Dotson says
May 8, 2020 at 2:51 am
How do you think that the Covid 19 situation is going to affect signing up new clients into a newly launched RAL home?
May 8, 2020 at 3:04 pm
It may, but we have a couple students who opened in April and due to their prior marketing (before opening) and then re-launch of marketing during the pandemic (focused heavily on being clean, new, fresh), they are full! It’s all about the marketing!
Rhett WILGERS says
May 11, 2020 at 9:28 pm
A couple of questions please:
1. After the RAL is up and running for say 3 years and the numbers (theoretically) are good. Can a RAL be refinanced into a “non-recourse” loan like in multi-family? Do the lenders look at the RAL business as a total package (real estate and business entity combined) or is it considered separate because they are 2 different legal entities?
3. How does the conversion of a residential home into a RAL facility affect the value of the real estate itself? (I’m assuming the remodel into smaller rooms could have a negative effect)
These questions have to do with scalability for me. I have a fair amount of liquidity but I see it takes a fair amount of cash for sprinklers, fire detection, remodeling, ect. I need to see a way that I can pull equity back out of a RAL that is up and running to move those assets to the next deal, and the the next, and next…..
This is commonly referred to as the BRRR method for real estate. I am sure you are aware of it. In multifamily I am able to “force” appreciation by increasing NOI. Not sure how that can work in the RAL world.
Wife and I are interested in the 3 day fast track but I need to get some basic stuff like this answered first to make sure RAL is the correct fit for us.
May 12, 2020 at 2:40 pm
1. If you set them up separately, they are separate loans, so you would do them separately.
2. We never change the sizes of the rooms to be smaller, if anything they are regular size or larger, we only provide big beautiful luxury care for seniors and suggest you do the same. The things that look different from a regular home are wider hallways and doorways, more bathrooms (one for each room usually), guard rails and ramps and grab bars. Also way more bedrooms and bathrooms than usually is needed. If you’re trying to sell just the RE and you’ve stopped the business, it will be a harder sell unless you have a buyer who knows what to do with the home. It won’t effect the cost of the RE much, if at all, but it may take longer to move than a regular 4000 sq/ft home. So we would suggest running the business really well and selling them both off, if you just want to get out, that way you can make out a lot better, selling the RE and the business combined.
You could refinance the home to pull out capital if needed, when needed.
Hope this helps,
May 12, 2020 at 3:36 pm
So to pull equity out for the next home your saying you would need to do a HELOC on the real estate and a business LOC on the ALF business inside the home? If that is the case, a non recourse loan I assume is out of the question. Big draw back. I’m surprised lenders wouldn’t be willing to attached the real estate and business together for one loan. Is it because it technically not a commercial property (loan)? Certainly seems like you would be able to show net operating income, cap rate, etc…
May 13, 2020 at 3:51 pm
It all depends how you structure it, so if they are one entity, you could look into doing it that way. I would advise with your lawyer if that’s how you want to package them together. Just to make sure you’re ducks are in a row. But correct, it’s not commercial loan or property. It’s all residential.
Gina Webb says
June 8, 2020 at 3:33 pm
I have enjoyed the course very much. I have one compound question.
What are the benchmark percentage targets for labor costs, supplies, and marketing? Is this scalable on a per bed count? I.e. percentages for five beds vs 10 beds vs 12 beds. Thanks GW
June 9, 2020 at 4:54 pm
Marketing will be one fee no matter how many beds you have and there are people who spend a couple thousand every month on marketing and some who go boots on ground and spend $150 every month. It totally depends on what you want to do, a billboard, cookies to neighbors and hospitals, flyers in church bulletins, newspaper and magazine ads, brochures, open houses, online SEO marketing, word of mouth, the list goes on and on. Stick with as much free/cheap marketing ideas as you can and add in 1-2 more expensive ones and see what works for your market best.
For staffing, you never want to go above 40-50% of your expenses, so you do need to allot money to pay everyone, but you don’t want the total amount of money spend on your staff to exceed that number.
For supplies, this will vary on the needs of residents, as far as diapers, potty pads, sheets, towels, blankets, kitchen supplies etc. A lot of your supplies are one time buys and then others are replaced yearly, some are needed weekly. It will range and keep in mind some families will provide specific items for their family members like shampoo and diapers, and others won’t at all. You can accept the supplies from the families if you like, you can also take donations from local churches or synagogues.
Hope this helps,
Mike Keiter says
July 1, 2020 at 4:48 pm
Is there a sample P&L that we can get so we can get an idea of what the ballpark percentages are for each category in expenses?
July 1, 2020 at 6:13 pm
Mike, Gene will cover the numbers a bit in this course, but if you need a more in-depth look feel free to schedule a discovery call post graduation.
Steven Foster says
October 16, 2020 at 9:42 am
Gene, I finished this self study course. I was expecting to get more information about evaluating an existing business and its value. You seemed to suggest that this would be covered in detail, but I don’t think it was. I am evaluating a purchase now. Can you help?
October 18, 2020 at 1:24 pm
That is covered by our trainer Emmanuel at the virtual or live 3 day fast track.
Not sure if there is some confusion there, please schedule a discovery call to go over the differences in the course and see if we can possibly apply what you already paid for you to come to the 3 – Day Course.
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