Brandon's Top Picks: Must-Read Books for Starting an Assisted Living Facility
Aug 31, 2024
Starting a residential assisted living business is a satisfying and profitable endeavor. It provides the opportunity to have a big influence on the lives of elders while also growing a profitable business. However, the path to success in this sector has its hurdles. You must have the necessary information, tools, and resources to negotiate the complexity and capture opportunities.
This blog article will review a list of essential books offering advice and insights into starting and maintaining a successful and sustainable assisted living business. These books cover everything from the principles of entrepreneurship to the specifics of the assisted living industry, ensuring that you are well-prepared to build a flourishing business that fulfills the requirements of your community.
Check out the video, too:
1. Residential Assisted Living Systems: 12 Steps to a Six-Figure Income Caring for Seniors by Frances Chua
Frances Chua's Residential Assisted Living Systems is one of the first books to help you with your career in the assisted living industry. This book offers a detailed, step-by-step guide to earning a six-figure income while caring for the elderly. The information provided was especially clear and practical, which I found particularly useful. Chua provides meaningful business information, from facility setup to successful operations management. This book is a must-read for a simple plan for starting and scaling your residential assisted living business. (NOTE: as of the writing of this blog it appears that this book is no longer available)
2. How to Open an Assisted Living Facility: The Basics of Turning Houses into Assisted Living Facilities by Jeffrey Morlock
Jeffrey Morlock's book, How to Open an Assisted Living Facility, delves into the process of converting a residential home into an operating assisted living facility. This book gives a solid foundation, especially for those new to the field. Morlock discusses important themes like zoning, licensing, and operating considerations. Morlock's realistic counsel can help you start on the right foot.
3. An Insider's Guide to Investing in Senior Housing: America's Best Financial Opportunity for the Next 25 Years by Gene & Jim Guarino
This insightful book provides a detailed review of the financial prospects available in the senior housing sector, highlighting assisted living's potential as a profitable long-term investment. Guarino's direct views and opinions are especially useful for those looking to obtain a thorough understanding of the market dynamics and long-term prospects in this sector. Whether you are an experienced investor or just starting out, this book provides a strategic and forward-thinking perspective that will help you connect your business goals with current market trends.
Additional Recommendations
While the books mentioned above were instrumental in my journey, there are several others that I researched and believe could be valuable resources for you:
Blueprint: How to Start a Residential Assisted Living Business by Gene Guarino
Gene Guarino, a well-known figure in the assisted living industry, gives practical insights and important industry information in this book. It gives practical advice and vital information to help you lay the groundwork for your residential assisted living business.
Heartwork: How to Open and Operate Your Own Profitable Residential Assisted Living Home by JaneNK Nwanne
JaneNK Nwanne's book examines the complex operational components of successfully running an assisted living facility. Although I have not been able to study it myself, I have received numerous positive recommendations for its practical guidance on managing day-to-day operations and guaranteeing profitability in this specialist industry.
Money-Saving Step-by-Step Guide on How to Open an Assisted Living Facility from Start to Finish by Carline Cadet Fancois
Carline Francois has written a comprehensive guide that offers a detailed and cost-effective strategy to starting your business. This excellent resource provides a detailed, step-by-step overview of the whole startup process, simplifying the often complex and intimidating environment of entrepreneurship, especially for those new to the field.
Other Valuable Resources
In addition to books, expanding your knowledge through podcasts and YouTube channels can provide ongoing support as you grow your business. Here are a few resources worth exploring:
Podcasts:
While I do not have a specific podcast to recommend, I recommend checking out venues like BiggerPockets and Whitney Sewell's Syndication Show. These platforms frequently feature specialists in residential assisted care and offer vital insights to help you remain current on market developments. Listening to these podcasts can provide you with a wealth of information about the residential assisted living sector and keep you up to date on the most recent changes.
YouTube Channels:
Besides my own channel, I'd like to encourage you to look into the content given by Serg Lepescu and Robert King. Both are specialists in their profession, and they give unique insights and practical guidance tailored to individuals at various stages of their journey in the assisted living industry.
Final Thoughts
Starting a home assisted living business requires more than money and hard work; it also requires a thorough understanding of the industry. Consider using these recommended books and resources to gain the knowledge and experience to start a successful business. Continuous learning and seeking mentors and resources that coincide with your goals are essential components of success in this industry. The insights provided in this blog will serve as a solid foundation as you begin your entrepreneurial journey.
If you need help writing a solid business plan, download our Business Plan Checklist to ensure you have a comprehensive plan in place to help you launch your assisted living business.
Need help figuring out where to start? Join the next Roadmap Challenge and build your launch plan with me.
Show full transcript 👇
Transcript
00:00:00
hey friend it's Brandon Gustafson welcome to Assisted Living investing in today's video we're going to be getting into some book recommendations to help you on your investment Journey with a residential Assisted Living business if you're interested in learning about a few books that might help you make sure you stick around for today's [Music] video hey friend it's Brandon gusterson I own and operate two assisted living facilities and I created this channel to help people like you learn the ins and
00:00:29
outs of investing in assisted living welcome to Assisted Living investing before we get to the topic of today's video which are some book recommendations I want to remind you to get over to the website Assisted Living investing. net I've got a free underwriting calculator there it's going to help you on your investment journey and a few other resources for you on the website so make sure you get over there now let's get into the topic of today's video some book recommendations to help
00:00:53
you out on your investment Journey as you start a residential Assisted Living business so I've got three books that I actually read as I was getting started on my investment Journey that I wanted to share with you and and give a little bit of an explanation of what those books were and why they were beneficial to me the first book that I read that I actually found to be really helpful is a book called residential assisted living systems 12 steps to a six-figure income carrying for seniors and it's by Francis
00:01:22
Chua I think that's how you say her last name um this is a book that I found on Kindle and I read it because I had been looking and reading through a bunch of things and this book actually helped me out a lot uh it had a lot of really good information I I don't know Francis at all I know she has a website um I was looking at it the other night actually um I think she's got a lot of really good information out there she's somebody that I would suggest that you potentially follow I I have never
00:01:49
consumed any of her stuff other than her book but was really helpful for me and gave me a lot of really good information so highly recommend that all these books are probably less than 10 bucks as well if you especially if you get the candle version no more than 25 bucks if you buy them on Amazon so they're very very affordable to help you out the second book on that list was how to open an assisted living facility which is the basics of turning houses into assisted living facilities by Jeffrey Morlock and
00:02:17
he has an updated version from when I read the book and frankly his book was a little bit dry and I had read it after the one from Francis and uh what I found is there was a lot of the same information and from that was really eye openening actually because while I think there's multiple ways for you to get started on your residential Assisted Living business journey and and getting started with where you want to go to reach your goals a lot of the information that you're going to find is
00:02:44
very similar uh it's I I listen to other YouTubers and and people that teach what I teach you and I teach a lot of the same things they're you're going to get the same information wherever you go and so as just a piece of advice I would suggest that you find the person that resonates with you and work with with it um getting the training that you need whether it's through a course or a book or YouTube videos or whatever it is go to that person and and ask them questions because they're going only to
00:03:10
teach you we all we all have hearts of teachers and we want to help people like you out on your journey and and that's what we're here for that's why we create this content it's going to help you out on your investment Journey uh find one that works for you and reach out and have questions and participate in courses and things that they do because that's going to help you out on your journey to get that level of coaching there the third book that I wanted to talk to you about is an Insider's Guide
00:03:36
to Investing in senior housing America's best financial opportunity for the next 25 years and this was done by Jean Gino and I think his brother uh this is a really good one if you've been looking a little bit you probably have found residential Assisted Living Academy I've talked to Jean before I've talked to his daughter before a little bit and they they're great people I I think they have a lot of really good information Jean wrote this book before he passed away um a long time ago actually actually I'm
00:04:00
going to guess 10 plus years ago and has a lot of really good information there to help you out on your investment Journey so it's something that you might consider reading and I I think they give it away for free on their website at least they used to uh but really inexpensive on on Amazon as well really good information there so those are three books that I read as I started getting into assisted living and started trying to figure out this process for myself now let's talk about three books
00:04:27
that I've personally not read but I did a little bit of research for you and I think they also might be good books for you to look at the first one is blueprint how to start a residential Assisted Living business and that one's also by Gan Corino Gan has a lot of really good information out here on the web on YouTube on his website and although he's passed away uh has a lot of good information to help you out in your investment Journey so uh you know recommend him for sure now the second
00:04:56
book that I would do again I haven't read this one at all but it's called heartwork work how to open and operate your own profitable residential assisted living home and that's by Jane no I don't know how to say her last name um but uh looked like a really good and helpful um book there to help you out as well and the third book that I would recommend is called moneys saving step-by-step guide on how to open an assisted living facility from start to finish make money while making it
00:05:24
Difference by Carline Kade franois I don't know how to say that name either um but also looked like a really good book so any of those three and I'm going to link all of these books down below um so you can get them I I might get a little bit of like a referral thing from Amazon um just for transparency sake um but I I think worth the the money and the time that you're going to invest in reading this book I was listening to one of my mentors a guy that I follow uh a lot his name is Graham Cochran and he's doing a 52 week
00:05:55
challenge with books right now and something he talked about is um books are are so great because people put so much time into them and you can learn everything that they put into that in just like a 2 or three hour period so I highly recommend that you look at these books and see if one of them is a good fit for you it's it's I think worth your time and a little bit of your money to help you get along that path the next thing so these ones aren't books but I I also wanted to give you a few other
00:06:22
resources here and that would be podcasts and YouTube so um as far as podcasts I don't have a specific podcast for you to go and listen to but um if you go and search just like assisted living on your favorite podcatcher uh you're going to find some I actually really enjoyed some of the ones that Bigger Pockets did and uh there's a podcast by Whitney Su which I think is like the syndication podcast um those two have had some really good people with a residential Assisted Living background on them and that will
00:06:53
probably help you out through your investment journey is just learning from them and you're going to know who those people are you can go and find them and see if they have things online to help you learn how to invest and and get started on your own uh Assisted Living business the other thing is YouTube and if you found my channel you probably have found a few of these other ones but um Serge lope pescue uh Serge is uh a friend of mine I've chatted with him we actually looked at doing a a deal a year
00:07:20
or two ago it ended up not working out well um but he had an opportunity here in Utah as well so we've chatted several times um Serge is great highly recommend his stuff uh he he's a great guy he teaches uh a lot of really good things and it will help you out through your journey as well especially if you're somebody that's maybe a little bit younger and don't have any capital and you want to do this by yourself or if you have a background in nursing um he's a great um person for you to watch
00:07:47
Robert King is another one and Robert King has some incredible stuff uh Robert if you've watched his stuff before he's he's very energetic um and uh some people don't like that but I think he's got incredible stuff so highly recommend him he he taught me a ton of stuff as I was looking through everything and and getting started on my journey uh so Robert King is great and then uh Gan Gino and anything that they're doing at residential Assisted Living Academy as well they're great uh they'll teach you
00:08:14
a lot of really good information i' learned a lot from them and consumed a lot of the content that they were building as I was getting started on my investment Journey so I hope all of that was helpful to you um just all of these resources it's I'm I'm kind of sharing with you the process I went through to learn a lot of things I I taught myself and a lot of that was because I have the background in healthcare I have the Masters in healthcare administration I already knew a lot about government paid
00:08:39
programs because I've worked on contracts for Medicare and Medicaid and I'm I'm very familiar with the healthcare industri uh but if you are new to it and you need help go and find those people I've mentioned this several times before find the person that resonates with you and still work with other people and and consume information from other other people but really dig into the person that resonates with you cuz they will Coach you and they're going to help you out through the
00:09:07
process I hope that's me I I love teaching people like you uh helping you through the process I have a ton of videos on the channel uh here to help you um through that process and help you learn how to get started on your Assisted Living business it's it's what I love to do so I'd love to be that person but if you think I'm annoying or something like that go find somebody else and work with them and they're going to help you out as you get started on your Assisted Living business Journey
00:09:33
does residential assisted livings sound interesting to you but you don't know how to get started at Assisted Living investing. net we're here to help you through the process start to finish I want to thank you for watching today remind you to like the video subscribe and ring the bell as well so you get notified every time I go live or put other content out here on the channel and get over to the website Assisted Living investing. net you can download the free underwriting calculator to help
00:09:54
you out on your investment journey and if you scroll down you're going to find our accelerator course as well which is everything that I learned to close on a facility from May of 2020 to September of 2020 it's a 12we path to ownership and help you get to the point where you could be running your own Assisted Living business in just 12 weeks it's possible I did it you can too uh want to thank you for watching and have a great [Music] day
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