How I Started in Assisted Living (And How You Can Too!)
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Starting an assisted living business can feel exciting but also overwhelming. Where do you begin? How do you find the right property, get licensed, secure funding, and attract residents?
Good news—you don’t have to figure it out alone! In this post, I’ll share how I started my assisted living journey from scratch and the exact steps you can take to launch your own facility within 12 months. Whether you’re a healthcare professional, real estate investor, or just passionate about senior care, this guide will help simplify your path.
Let’s jump in! 🚀
Check out this video, too:
Why Assisted Living is a Great Opportunity
When I started in 2019, I combined my healthcare background with a passion for real estate after reading Rich Dad Poor Dad. Assisted living offers a unique chance to help seniors live comfortably while building a stable, cash-flowing real estate business.
Plus, with an aging population, demand for quality assisted living is growing fast. If you want a career that mixes meaningful work with smart investing, this could be your perfect fit!
Step 1: Learn and Take Action
The biggest mistake people make is waiting to “know everything” before starting. I began by investing in education—reading books, joining real estate and assisted living groups, and asking lots of questions.
A mentor told me, “Focus on assisted living and stop overcomplicating.” So I jumped in and started calling city planners and health departments to understand local rules.
💡 Pro Tip: Talk to your city’s planning and health departments early to understand zoning, licensing, and staffing requirements. It saves headaches later.
Step 2: Find Existing Facilities to Buy
Instead of building or converting homes from scratch, I focused on finding existing assisted living facilities for sale. Platforms like LoopNet, BizBuySell, and even local brokers are great places to look.
One day, while waiting at a chiropractor’s office, I spotted a deal online and called the broker immediately. After signing a non-disclosure agreement (NDA), I got the financial documents and started running my own numbers.
Deals sometimes fall through—that’s normal! Keep your eyes open and learn from each experience.
Step 3: Work With a Good Broker
After some trial and error, I connected with a knowledgeable broker who specializes in assisted living properties in Colorado. Having expert help made it easier to navigate offers, negotiations, lenders, and zoning rules.
Lenders might say no several times before you find the right one. Don’t get discouraged—persistence and a solid financial plan win the day.
Step 4: Get Licensed and Secure Funding
Once you find the right property, licensing and funding are your next big steps.
Licensing means meeting your state’s assisted living requirements. This involves inspections, background checks, and making sure the facility meets health and safety standards. It can take time, but it’s essential.
Funding usually comes from SBA loans, private lenders, or sometimes grants. Prepare to be patient and organized—lenders want to see your financial projections and experience.
Step 5: Prepare to Run Your Business
Closing the deal is exciting, but running an assisted living business is where the real work begins.
You’ll manage payroll, supplies, meals, resident care plans, and regulatory compliance every day. Building a strong team and having mentors or coaches will help you handle challenges smoothly.
Ready to Launch?
Starting your assisted living business is a journey, but with the right steps and support, you can be up and running in 12 months or less.
🚀 Here’s what you can do next:
✅ Download the Business Plan Checklist to start organizing your ideas
✅ Apply for the the Assisted Living Investing Mastermind for expert coaching and support
✅ Take consistent action every day — success comes from small steps repeated
Have questions? Drop them in the comments below! ⬇️ I’m here to help.
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