Investing in Senior Housing for MASSIVE CASHFLOW – Gene Guarino
- Gene invests in senior assisted living homes
- Gene teaches others how to invest in these residential homes
- Gene has had 17 businesses over 35 years
Nuts and Bolts
Gene is the founder of the Residential Assisted Living Academy, he has been a certified financial planner for 20 years and is also licensed in Australia. Gene has spoken to 300,000 people across 5 countries about the benefits of investing in senior housing, he has also written 4 books and has 3 radio shows. Gene has had 17 businesses over the last 35 years. He made his first dollar collecting bundles of sticks and selling to neighbours as kindling. Gene was in a band as a kid but he was too young to go into bars and perform. As a group they set up a coffee house where they could play, after 2 years they bought the place with no money down which led him on a path of fixing and flipping and buy and holds.
Gene offers elderly assisted living in converted residential homes, this is not large campus housing. A single residential house can be converted to add extra bedrooms and private bathrooms. Many people think that they can reply on government allowances for assisted living, however the average pay out is $2000 per month and the cost of an average care home is $3570 and an above average is $4000 per month. Gene’s target client is the child of the resident as they will be the ones choosing the facility. Gene aims to put his properties close to these families and people with wealth because he tries to stay right in the middle of the market rather than out in the countryside. It’s also a misconception that a residential home needs to be close to a hospital, because if a n elderly person needs daily hospital visits they shouldn’t be in a residential home. The ideal location for a residential home is near a big campus facility because then you know that the market is good.
There are two ways to be involved in senior housing at the moment; either write a cheque and get involved with a real estate investment trust. Or the second option is to own the real estate and lease it to an operator and act as a landlord. As a landlord to senior housing you can earn twice the market rent than a residential single family home. He advises that you don’t get directly involved as a cleaner/carer/cook because then the businesses owns you rather than the other way around. The business is financed the same way a residential family home would be, by normal lenders and a 20% down payment as the property is not owner occupied.
- Most important habit – Writing a list for the next day at the end of each day
- Most influential person – His mother
- Most important tool – His daughter COO of the company
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