Finding the Perfect Home for Your Assisted Living Business
Apr 03, 2025
Starting an assisted living home is a big step—and it all begins with finding the right place to do it. πΊοΈ
This isn’t just about picking a pretty house. You need the right location, the right layout, and the right setup to take care of your residents in the best way possible.
Let’s walk through how to find the perfect spot for your assisted living home.
(And don’t worry—we’ll keep it simple and fun! π)
Check out the video, too:
Step 1: Start with Market Research
Before looking at any houses or buildings, do this first:
π Choose a state and city you want to work in.
π΅ Look for areas with lots of seniors (ages 65+).
π Avoid places that already have too many facilities.
π° Make sure the people in the area can afford your care.
This helps you save time and only look at homes that make sense for your business.
π‘ What Kind of Property Should You Get?
There are 3 main ways to get started in assisted living:
1οΈβ£ Buy an Existing Facility
This is the fastest way to begin!
β
Already has residents
β
Staff might already be there
β
License might transfer to you
π Use sites like:
Pro Tip: These websites show businesses for sale, not just buildings!
2οΈβ£ Buy a Home and Convert It
This is perfect if you want to customize your space.
β
Pick your neighborhood
β
Make it feel like home
β
Design it your way
π οΈ You’ll need to:
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Do some renovations
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Apply for a new license
π Search on:
Look for:
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4+ bedrooms
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Big bathrooms
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Wide hallways for wheelchairs
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A nice, quiet neighborhood ποΈ
3οΈβ£ Lease a Property
Don’t have a lot of money to start? Leasing is a great option!
β
Lower upfront cost
β
Test the business before buying
β
Still make a big impact!
πΌ Sites to try:
Bonus Tip: Some landlords love the idea of steady rent from a care home!
π― How to Know What You Need
Make a quick checklist before you start your search:
ποΈ How many bedrooms and bathrooms do you need?
πͺ Is it wheelchair accessible?
π How big should the home be?
ποΈ What kind of zoning does it need?
Having a plan saves time and helps you stay focused!
π€ Work with the Right People
You don’t have to do this alone!
Here’s who can help:
π’ Commercial brokers – If you’re buying a business or large facility
π‘ Real estate agents – If you’re converting a home
π¬ Landlords and investors – If you’re looking to lease
Tip: If you're leasing, show landlords a solid business plan. It helps them feel confident that you'll be a great tenant.
π§ Final Thoughts
Finding the perfect property takes time, but it's so worth it.
This is where your residents will live, laugh, and feel safe.
Let’s recap:
β
Start with market research
β
Choose the type of property that fits your budget
β
Use the right websites
β
Work with professionals who know assisted living
β
Have a clear plan for what you need
And remember—you don’t have to figure it all out today. Take it one step at a time. πͺ
π Want More Help?
π₯ Download our free Business Plan Checklist – It’ll help you stay organized and confident.
Need help figuring out where to start? Join the next Roadmap Challenge and build your launch plan with me.
You’ve got this. Let’s go build something amazing! π‘π
Show full transcript π
Transcript
00:00:00
hey friend I'm Brandon Gustafson I help beginners like you launch their Assisted Living business in the next 12 months excited to have you on the channel today we're going to be talking about how to find the right house for your Assisted Living business so if you need some help and some guidance as you're trying to figure that out make sure you stick around for today's video and I will do what I can to give you some guidance and help you out through that [Music] process hey friend welcome back to
00:00:27
Assisted Living investing before we get started want to remind you to get over to the website Assisted Living investing. net and grab our free underwriting calculator it's a tool that I've created for you to help you figure out if you have a profitable opportunity in front of you or not so go grab that and check it out now let's get into the topic for today's video we're going to be talking about how to find the right house for your Assisted Living business and help give you some guidance there
00:00:52
and help you just feel confident that you have the right property as you are trying to launch this Assisted Living business now there's a lot in here that actually it goes back and we're going to link the video up above to Market Research in that video we talked a lot about figuring out the geographic location what your criteria was um a lot of this goes back to you know my f phase process and helping you launch that Assisted Living business phase one is building the foundation and as you are
00:01:20
trying to start your business start you know launch that Assisted Living business you're going to find that building the foundation the right way is going to help you out the rest of the way uh we we'll talk about about this often in in our videos here on the channel because I truly believe in building that Foundation if you need some help or some guidance and figuring out exactly what that looks like go check out The Mastermind program go apply for it at Alim mastermind.com application 5 minutes or less to fill
00:01:47
out the application lets me look at your goals and if I can help you out I will point you in the right direction I'll give you some programs if I can help you out if not I will send you some other resources that will help you get started so go check that out no no ation there just a quick form for you to fill out and see where you're at so now let's get into leveraging that market research you're going to in there know your geographic location so you've narrowed it down from the entire nation down to
00:02:13
one state and then inside of that state now you know the three or four different markets that you want to be working in and it helps really narrow things down uh when you get to that point and now you have your criteria as well you know that you need a six-bedroom home or an eight-bedroom home or whatever criteria it is that you need you've built that in your market research and you know what you need and now you have something tangible you know what you want to reach your goals and you hand that to a a real
00:02:41
estate agent or a commercial broker to help you find the right property um using the tools that they have so that's how you go about doing this now as you're starting to look for the Assisted Living business there's really kind of three types of homes that you should be looking for one is going to be an existing facility um something that already is there and you just go and buy it and take over operations number two is going to be buying a home and then convert and this is kind of technically
00:03:09
like building a home as well as something you build but you have to go from the ground up or make a conversion on a home and you're getting a brand new license on this home um so this is a single family property maybe it's a commercial building but it is something that you are buying and either converting or building turning into assisted living the third option is going to be leasing it's going to help you you know get into this without having to have the big down payment of getting a home so that's an option that
00:03:35
you could also be looking at is leasing so buying existing building or buying and converting a home or leasing a home and those are the kind of the three property options that you have to get into assisted living now let's get into where you should search for each of these different types of opportunities so existing business a home or something you want to lease now if you're going the route of buying an existing business there's three really good websites that you can go check out there's loopnet.com
00:04:02
Bisby cell.com or cy.com all three of these are commercial style places you can actually filter down to assisted living in our Mastermind program we actually did a master class on how you can leverage each of those three and help you find the exact property so go check that out if you want to apply Alim mastermind.com application we'll get you over there but in there that Master Class really Dives deep into how you can leverage those tools which are free to you to help you find a property and even
00:04:31
find a broker that's going to help you look for other properties as you get things moving along so just you know that's something just a quick plug for The Mastermind program but if you really need to figure this out you want to try to do it by yourself then go look at those websites again it's loopnet.com bisel.com or cy.com those are really good resources and we'll try to link up I have videos on Bisby cell and I think loopnet on the site here on YouTube and we'll try to link those up above to to
00:04:59
if we can you know figure out how to get those in there for you um but those are really good resources now if you're going to go the route of buying a a home an existing home and you want to do a conversion on it again free tools that you can use Zillow redin realtor those three websites have great functionality to go by room size and square footage and bathrooms and look at the location and the area and things like that so highly recommend that if you're looking for that home single family home you
00:05:27
want to do a conversion on it go and get on Zillow get on redin which I personally love redin that's probably my favorite but or realtor.com all three of those are great resources and will help you out and again you can also if you don't already have an agent don't know anybody uh you could start having conversations there maybe you find a great agent that could help you find the right homes these are great at helping you find homes on your own but also helping you find the right person that's
00:05:54
going to help that you can leverage to help you find more and better opportunities without spending too much time of your own trying to look for them okay now if you want to go the route of renting a home there are also a few resources there there's rent.com apartments.com Trulia um.com or homes.com all three of those are also going to be resources that you can go in and find opportunities for it it is a different conversation when you are renting um and we have a few people in the Facebook group that have
00:06:23
successfully become landlords for assisted living it is out there landlords are aware of this strategy it can be difficult as a person that wants to run a business to go and find that person and have a conversation but landlords are aware of it they often times are listening to real estate podcasts that talk about Assisted Living they understand that this is a thing and they're interested in it and so you just have to have the conversation with them and show them the business plan again going back to phase one build the
00:06:52
business Foundation take that business plan show them how it's going to be profitable how it's going to be mutually beneficial for you and for them to help you move things along and get started and launching your Assisted Living business these websites here again rent.com apartments.com trulia.com and homes.com are all great resources you can find houses for sale on those as well and same with the ones that are for sale Zillow Redfin and realor.com all three of those also have things about
00:07:21
renting so leverage these free tools start having conversations with landlords especially for those homes that feel like they would be a good fit for assisted living and you know maybe you'll probably get told no more than you get told yes I guarantee you will but you will find somebody that wants to work with you I promise you that if you keep going you're consistent and persistent that's why I say this at the end of every single video you're going to find somebody that wants to work with
00:07:46
you you just have to keep going and keep making progress and you'll get there now as you're going through this I've mentioned this a few times you need to ask for help you could do this by yourself you can go you can spend a lot of time looking for things but why not Leverage people that are there to help you talk to a realtor talk to a broker specifically a commercial broker and if you can find one that works in the senior living space it's going to be better for you you'll be so much better
00:08:11
off for it so leverage those people that's what they're there for they love it this is what they do for a profession they have chosen to go and do this as a profession use them don't kill yourself trying to find the right property build your criteria build your business foundation and then go talk to somebody and have them do all the searching for you and find the right property the person that I think is best is a commercial broker if you're buying an existing facility one that works in a
00:08:38
senior living they're going to understand the acquisition process all the things that go into it they'll understand the SBA process they are incredible at working through that if you go with an agent it's if you're just buying a home and you're going to convert it and you're just using the agent to find the house that's fine I would not rely on a lot of agents to know all the intricacies that are in a Assisted Living I know there are some out there and if you are one of them and
00:09:02
you're watching this video comment down below so that we know who you are because I think people would love to chat with you but also realize that a lot of agents are very specific to their geographic location and if you're in New York and you found an agent that does this in La it's probably not going to work very well for you whereas a commercial broker can network with people that are inside of their ecosystem and can help you build good relationships with people that also work in this space it's why I always I talk
00:09:30
about Brokers all the time and it's for that reason um they they are incredible to use and to leverage to help you uh reach your goals there are so many other ways to do this uh and I've only scratched on the surface of of what you need to do to find the right property but these are free resources free tools free ways for you to get started on your path to finding the right property for your Assisted Living business so leverage those and if you need more check out The Mastermind program go
00:10:00
apply for at Alim mastermind.com application if you feel overwhelmed and confused and just need a process that you can follow then I I have that go check out The Mastermind Alim mastermind.com application takes you less than 5 minutes and if I can help you out then I will tell you what that looks like and but no sales call I just give you the information you make a decision and if not then I'll give you some other free resources and and make sure you know what programs I have that that could
00:10:29
potentially help you out so I would love to do that and also want to remind you if you found this video to be helpful in helping you understand what you need to do to find the right property please like the video subscribe and ring the bell as well so you get notified every time we put this content out we do our lives on Tuesdays and we do these videos on Thursdays I want to make sure you don't miss that so you have the tools that you need to help you be successful does residential Assisted Living sound
00:10:56
interesting to you but you don't know how to get started at Assisted Living investing . net I help beginners like you launch their Assisted Living business in the next 12 months I want to thank you for watching thanks for being here and remind you that it doesn't take a lot just a little bit just keep going keep making progress step by step by step and I promise you if you do and you're consistent and persistent you will be successful thanks for watching and have a great day [Music]
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