RG 178 – Creating Massive Amounts of Cashflow with Residential Assisted Living with Emmanuel Guarino
Emmanuel is the number 1 realtor for residential assisted living in Arizona, which is known as RAL. He works with his wife to buy and sell more of these RAL’s than anyone else in Arizona. He also trains and teaches at the Real Estate Assisted Living Academy. Emmanuel has a background in health and wellness and experience in raising capital and closing housing projects. His mission is to help the elderly population age with dignity. He made his first dollar as a kid at school when he was in a band and made a CD to sell to friends, this meant that he made $5200 in 6th grade. He went to college to study wellness and wanted to be a physical therapist but found out it wasn’t the right path for him. Meanwhile he read Rich Dad Poor Dad and hten went to a real estate event with his father and met Richard Kiyosaki. This inspired him to start helping his father in the real estate space finding homes for investment and that’s how he got started.
RAL’s are not nursing homes, they are for someone to needs help with daily activities like showering but does not need medical help. There are approximately 10 residents per home and these buildings are residential homes so they’re not the big box out of town centres that you so often see. This all started when his grandmother needed somewhere to live and so his father started setting up the homes and then other people asked him to teach how he was doing it. The national average for residential living is $4000/month and the more private bedrooms and bathrooms then the more you can charge. In some cases there are shared rooms for cheaper but often Emmanuel will build a house from scratch with private rooms only.
Emmanuel searches for locations that are close to the children of the elderly which means 60 years olds with money. When people move into the homes he asks them to complete a questionnaire so that he can match personalities and make sure that the person is the right fit for the property. There are 2 caregivers during the day and 1 at night with a 2 to 5 ratio doing the cleaning, cooking and helping.
Top tips
- Most important habit – Workout daily
- Most important person – Father
- Most important tool – Infusion Soft
- ral101.com