GENE GUARINO Founder & president, RALAcademy
On the opportunities in residential assisted living: “Right now, there are 77,000,000 baby boomers. Every day, 10,000 of them turn
65 and another 4,000 turn 85. Their number-one dilemma is housing. The average cost for a private
room in an assisted living facility in the U.S. is more than $4,000
a month. That means running a single residential assisted living (RAL) home can net the owner $10,000 a month or more, although every market, investor, and opportunity is different.”
JAMIEWOOLEY Owner, W Streets Inc
On why she is expanding her wholesale real estate business into senior living investments: “In the next 12 to 18 months, we expect to be at the 200-deal-a-year mark for our
What’s coming: “Everyone is going to be involved in assisted living in one way or another. The question is, “How?” You can own the real estate, operate the business, or both, or you can end up writing a check to someone else to take care of yourself or a loved one. Timing is key in life, and the massive growth in the senior services market is unstoppable. Right now is the best time to ride this 'Silver Tsunami' of seniors to shore."
wholesale business. As we near that goal, we are moving into the single- family residential assisted living space. It’s one of the best returns in commercial or residential real estate, hands down.”
What’s coming: “I’ve looked at the statistics, and there is such a need for these facilities. That need is not going anywhere. The senior living space is going to be here for a long time.” •
ASSOCIATED DEFINITION:
Residential Assited Living (RAL): A single- family home that has been converted and upgraded to offer assisted living options to multiple senior residents in a co-living environment. These may have shared or private rooms and baths and generally do not offer skilled nursing although they do provide custom services for residents and are staffed by trained professionals.
ASSOCIATED DEFINITIONS:
Residential Assited Living (RAL) Senior Living Communities
90 | think realty magazine :: december 2018
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