Can I do a RAL home as a business?
20 years ago, when I first heard about assisted living, I learned about the silver tsunami that was coming. Because when you think about it, the baby boomers have been driving our economy for decades and decades. The next move in our economy is in, taking care of seniors, those that need the help, that are aging in place and getting older every single day. It is the fastest growing demographic in the US and throughout the world.
When I 1st heard about the opportunity in the aging of the baby boomers, they were sharing it from the business perspective. I wanted to learn more but there was nobody willing and able to show me how it’s done. Six years ago, when the real estate market had virtually crashed all over the country, I said, “now is the time to get in.” But when it comes to the real estate part of the RAL home, it’s just bricks and sticks. You can fix it, flip it, buy it, hold it and rent it. That just feels kind of cold and meaningless. My next thought was “is there more of a personal side to this?” I was really looking for something besides the money that could be made.
What if taking care of people is my priority?
Taking care of the elderly could be your priority or focus in life. They are the greatest generation, and they need help with the transition. It’s more than that though, it’s personal. It’s your mom, dad, grandma, and grandpa too. It gets emotional for many people.
Make sure that your heart and your eyes and your focus are in the proper balance. You have to take care of business, but you also must have a heart. We’re taking care of people, but it’s okay to make money. This isn’t a charity and it’s a not a nonprofit.
You can help people and make money at the same time!
Making money is why we do it, but we can choose to do it in a way where we can make money and help people. The more money you make, the more you can give and it flows through you, the faster it comes.
Many of you would like to help more charities or provide more support for other people. If you need money, we can show you how to do that and if you want to help other people, you know you can do that as well through residential assisted living.
You can have the best of both worlds and take care of your own family.
We are all getting older and have parents or people who are older than us. Eventually, somebody is going to need to take care of them. So on one side, you can start your own home so that they can move in and live for free. Or you can move them in and you can charge them whatever it is that they can afford and that you are willing to accept.
You see, it’s about the care. You want to take care of them. You want to have a little bit of control over the caregivers and managers, but not be the caregiver or manager. So by owning the Residential Assisted Living home, you can have that control, and you can help them do good and do well. It is truly the best of both worlds. Making money and helping others.
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