How to Fund Your Assisted Living Facility Without Good Credit
Jul 21, 2025You don’t need perfect credit or a pile of cash to start an assisted living business. There are creative ways to get funding—if you know where to look and how to build your foundation.
Let’s break it down, step by step.
Why This Matters
So many people feel stuck. They want to open a care home but think they need:
π³ Excellent credit
π° Tons of savings
π¦ A bank loan ready to go
The truth? You just need a solid plan, resourcefulness, and persistence. People will support you when you show up with a clear plan and commitment.
Check out this video, too:
1. You Don’t Need Good Credit—But You Do Need a Plan
If you have bad credit or no money, you can still get funding. But you need to put in the work and prove that you're serious. Here's how:
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Start with a strong business plan.
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Build credibility by showing your expertise
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Network and find partners who believe in you
This business is about trust. If people trust you, they’ll want to work with you—even if your credit isn’t perfect.
π Download the free Business Plan Checklist to get started right away.
2. Seller Financing: Get the Property Without a Bank Loan
Seller financing means the seller lets you pay for the property over time instead of requiring a mortgage upfront.
π― Why it works:
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No need for traditional lending
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Terms are flexible and often negotiable
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Great for newer operators without banking relationships
This is one of the easiest ways to get your first deal funded without credit or cash. Some sellers even prefer this option for tax or income reasons.
β Tip: Build trust. Show the seller you're serious and have a clear business plan.
3. Partnerships: Use Other People's Credit or Cash
You can partner with someone who has what you don’t—like credit, cash, or experience. You bring the idea, the plan, and the work ethic.
Examples:
π₯ Credit partner signs for financing
πΈ Equity partner brings money in exchange for a % of the business
π§ Strategic partner brings experience and access to networks
A good partnership is built on:
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Clear communication
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Trust
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A written agreement
π‘ Structure it clearly: Define the split, timeline, and how you'll exit or refinance later.
4. Private Lenders: Relationship-Based Lending
Private lenders are people—not banks. They might be:
π§πΌ Friends
π¨π©π§π¦ Family
πΌ Real estate investors in your network
They want to see:
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Confidence that you'll follow through
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How their money is safe and earns a return
You’ll need:
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Business plan
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Deal analysis
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Communication and transparency
Start by talking to people you already know. Your first investor may already be in your circle.
5. Crowdfunding and Community Investment
Not easy, but worth exploring.
If you can find the right platform and audience, crowdfunding could help you raise startup capital. But it works best for:
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Larger or innovative projects
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People with a strong online presence or social following
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Facilities that serve underserved communities
6. Step-by-Step: What You Should Do Today
π Want to launch your assisted living business in the next 12 months?
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Step 1: Download the Business Plan Checklist to start planning.
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Step 2: Need help figuring out where to start? Join the next Roadmap Challenge and build your launch plan with me.
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Step 3: Follow this guide, take action, and bring your vision to life!
Got questions? Drop them in the comments below! β¬οΈ
Show full transcript π
Transcript
00:00:03
Hey friend, it is Brandon Gustafson with Assisted Living Investing. I help beginners like you launch their assisted living business in the next 12 months. Excited to have you here on the channel with me today. Uh today we're going to be talking about how to get started in assisted living. Uh can you do it with bad credit? I I get this question all the time uh from people that like I I've got bad credit. Can I do this? I've got bad credit. I'm not going to start right now. Uh, I'm I'm gonna hold off. And
00:00:30
what I want to do is is try to debunk a little bit of that as you're trying to get started because I I get it. Like people have bad credit. They they don't know uh, you know, how's that going to impact them? Can they really get started? Is it going to make it so this is something that they can't do for the next 5 years as they're trying to build up credit? Um, I really want to help you understand how to get a leg up, how to have success, and how to help you make real progress right now while you're
00:00:58
still trying to to get um, you know, improve your credit and and make it so that you're you're actually working towards all of this. Um, before we get really deep into the topic, I want to remind you to go and grab the business plan checklist. We've got links down somewhere um below me and those will be there um throughout the video. Uh so you can go and and grab that. It's a free resource for you and it's going to actually help you out a lot in what we're talking about today and help free
00:01:27
business plan checklist. Again, it's assisted livinginvesting.net/bp checklist. And that will give you a tool to really allow you to get started uh along your journey and and help you start making some really good progress as as you're trying to to launch your assisted living business. For those of you that are here with me live, um if you're new, type in newbie down below. I love seeing all the people that are new that that find me and hop on. And for those of you who um you know, regardless of if you're new or
00:01:57
not, we're going to have time for some Q&A here at the end of the uh at the end of our our video today. So, go go go ahead and type questions in and uh they can be related to credit and and good or bad credit or they can be related to um just anything uh as you're trying to to launch your assisted living business and trying to make some good progress here. Um, so for those of you who don't know me, my name is Brandon Gustoson. I own and operate two assisted living facilities. I do that out of state. So I
00:02:26
live in Utah and I have a facility in Colorado. I have another one that is in um in Idaho and I have been doing this since 2020. I also have a masters in healthcare administration. Uh so I've been in the industry uh the healthcare industry as a whole for go I don't know a long time over a decade and have a lot of experience um and that just kind of in the industry. I love helping and coaching people. I have a background in in doing that uh teaching at the UN uh at master's level degree graduate level
00:02:57
um courses for for people. So I I do that. I I love it. It's it's one of my favorite things to do uh and would love to help you as you're going along uh this path. So, with that, let's get into um let's get into the topic for today. Can you do this with bad credit? Um so, why why does credit matter? I I really want to get into this. Why credit matters, but it's not everything. It it doesn't it's not the beall endall. It's not going to absolutely make or break a
00:03:25
situation. Um, so bad credit, it does not mean that you can't start an assisted living facility, a RAW, a RAL, or a RCF, whatever you want to call it, whichever acronym that you've seen out there. Um, it doesn't mean that you can't start one if you have bad credit. It can make it harder. I I'll admit that. But it doesn't mean that you absolutely can't do it. The areas where it really is going to matter um for you, and there's ways around around this as I as I get into this, we're going to talk
00:03:53
about that here. here. So, make sure you stick around for the entire video. Um, but where it does matter to have good credit is your SBA or your business loan. They will look at your personal credit. So, that's that's one thing. Um, getting lines of credit. So, if you need to get a a line of credit, a credit card or something like that, um, especially at the beginning of of your business journey of starting the business, they're going to want to see uh they're they're going to look at you as an
00:04:19
individual creditor. And so you're going to need to have pretty good credit for that. Um and then also purchasing a property in your name. Um and so the reason why is is again you're working with um with SBA with other lenders and so they're going to want to look at you um if you're a part of a deal. They do want to look at at your credit history to make sure that you're you are are somebody that they can trust to make those payments. So that's that's the history of credit. they want to look at
00:04:50
all of those things. So, that's where it does absolutely matter as you're trying to get into this. But, as I mentioned, it's not everything. There are ways around that. We're going to chat about that as today in in today's video. Um, where it doesn't matter uh where where it doesn't matter if you have bad credit or not is building the foundation. So, we're going to talk about that a lot um here at the end of the video today about uh just getting started and building the
00:05:16
foundation and and leveraging that for you to either launch yourself into doing this or helping you build out partnerships and working with different uh with different types of funding that are available for you if you don't have great credit um and those types of opportunities. Building a foundational foundation for your assisted living business is absolutely crucial and you don't need good credit to get started doing that. Next is alternative funding options. So, I talked about this in
00:05:44
previous videos, but there are funding options out there that are not going to be quite as stingy when it comes to credit. So, we're going to talk about some of those options here as well. Um, but those could be hard money or um unsecured lines of credit or there's there's a few others. We did a I I have a video um on the channel that we did with Regina um Morgan a few weeks ago. So, if you go to the channel, uh make sure you like the video, subscribe, ring the bell, all of those things so you get
00:06:12
notified when we put out awesome content like that um so that you get uh so you get notified because we have a conversation with Regina where we talk about SBA loans, but we talk about other funding sources. So, that's a really good resource for you. Um and another one is just partnering with the right people. You don't need good credit to go out and start building partnerships and building relationships with other people. In fact, there are some of you that are real estate investors that that
00:06:39
do this. You may have bad credit because you've taken out so many loans and that's the reason why you have bad credit. And so, this idea of of partnering with other people that may have good credit is actually a not a foreign concept to you. If you listen to real estate podcasts and things like that, this is a strategy that that a lot of people will implement or you have basically a credit partner, a person that has good credit that can partner on a deal with you because your credit may
00:07:06
be tapped out. It may it may just need to go through the cycle of dropping off all those credit reports and things that that are on there. So, there's there's a lot of reasons why you don't absolut you don't need it where it doesn't matter. So, let's talk about um building a solid business foundation first. And I talk about this like all the time. It is one of the most important things for you to do as you are starting to get into the world of assisted living. I I talk to a
00:07:33
lot of you and you say, "Oh, I I got my license over here. I I set up my LLC. Um I you know, I found a cool property. I I was even talking with somebody uh recently that said, you know, I'm I'm thinking of just buying the land for it." And I I I I caution people, you have to spend time building the foundation. If you don't do that, you're going to get yourself in a bad situation. Um it it is it's crucial. I was actually working on some scripting today uh for for videos that I'm going
00:08:02
to be doing here in the next little bit. And um it it just it keeps coming up as a as such an important piece of what you're doing. Building that foundation, it is it's crucial. Um it is something that lenders are going to look at. partners want to see. Um the the state's going to want to see it as you're getting uh things zoned for your house and and getting your your facility license. Uh it allows you to answer questions. You you need to have this foundation. Okay. So, um you can get
00:08:30
started with that today. Like you don't need good credit on it at all. The things that you're going to want to do here is create a business plan that lenders and investors are going to trust. You want to hit on those things. Make sure you go grab the the business plan checklist. It's a free resource. It's going to help you know which pieces which things you need. uh to have in your business plan. So, go grab that. Again, it's assisted livinginvesting.net/bp checklist. Um I've got a link for you just like down
00:08:54
below me in one of these spots uh over here. Um so, make sure you go and grab that. Next is you need to be looking at deals and understanding the finances. So, you can find deals on on tools like Loopnet or Bisbyell or Crexy. Um you can go out there, you can actually sometimes they will post the the financials that they have publicly. you don't even have to ask somebody for it. But the more that you get more familiar with the finances that that exist inside of these deals, the more you're going to
00:09:23
understand um what a good opportunity is. And I have videos about small care homes, like two, three, four, six beds. Um I personally don't want to do that. I was just looking at somebody's underwriting for a deal that was eight beds, and it looked great. Like I I personally wouldn't do that. My my threshold is kind of 10. Um, but looking at this person's deal, eight beds, like they're going to they're going to do a great it's going to be great for them. So, um, it doesn't mean that you can't
00:09:51
can't be successful there. It's just you need to understand the finances. Make sure you have looked at them. You understand those expenses where they're at and and look at the the big five. So, if you want more information about the big five expenses, just type in big five down below. Um, and I can do a video that is specific to that. U the the big five expenses that you need to know about for assisted living. Um, now when it comes to um, beyond that, you need to do market research as well. You need to
00:10:18
find the right location and you've got to kind of look at, you need to see, you know, what's the trend. Are people moving here? Um, are people retiring in this location? Are there a lot of facilities already in the location? Is it is it too saturated in that area? um can people pay for it? Like what's household income looking like? Uh what you know, all of those things. You want to look at that from a holistic standpoint? And that can feel overwhelming. There's a lot of data out
00:10:44
there. And so you need to figure out, you know, where where to go. I got a tool uh for you. I'll tell you about that here in just a second actually that can help you out with that. Um next is um possibly setting up an LLC. And I say possibly because you don't need to do that today. uh if you you have bad credit, it's going to take you year, year and a half to find the right property, build up your credit, create a partnership, whatever it is. Um setting up the LLC, not absolutely necessary for
00:11:11
you. You need to have it. I highly suggest I'm not an attorney, so I'm going to qualify all that, but you don't need the LLC set up today to start looking and building the foundation. If you want to do it, fine. Um you could do it on Legal Zoom, really cheap. You could use an attorney, which is something that I highly suggest that you do. Um, so everything is set up correctly. Um, but there's going to be some form of of money um, that's involved in that. So that's something
00:11:36
you want to do. You don't have to do it right now, though. You want to do it by the time you close, though. Um, so all of that I I can help you out with it. Um, so I've got a link here um, in the slide that's for the Launchpad bundle, the assisted livinginvesting.net/launchpad. It gives you um, my underwriting calculator, how to do it. I give you a deal on how to underwrite it. Like I go through it with you. Um, business foundation basics, which is all about building a a business plan in a workshop style. Um, so you can
00:12:06
see what that looks like. My market research guide that I update on an annual basis. So you get that all the market research I was just telling you about. Um, that's like included in there. I do 90% of the research for you and you can kind of fill that out and that's a huge piece of your business plan that you're going to need to do. um tell tell you a little bit about um LLC's and where you can go to do it, how you should do it, what type of entity, when you should do that in the process,
00:12:30
plus a bunch of other just like extra bonuses that are included in that. So, if you're interested in that and need some help building the foundation, go check out the Launchpad. Again, it's assisted livinginvesting.net/launchpad. Uh I've made it super affordable and I think there's even payment options if you go and do the checkout. So, um go check that out. Again, assisted livinginvesting.net/launchpad. Now, let's talk about alternative funding strategies. So, this is um where
00:12:56
good in quotes good credit is is not always required as as you're getting started um in this. Okay. So, when it comes to when it comes to this um things that you could be looking at are going to be and and I've got a list of them here. I'm going to talk a little bit about each of them. Not go super in depth, but if there's one that you're really interested about, call it out um in the comments down below. So, business credit cards and microloans. Now, these can be um the these are small. These are
00:13:23
more for, hey, I need help. Um maybe it's making payroll or buying all of the groceries or uh it could just be operating the business and you're doing it off of a credit card and you're paying it down on a consistent basis. But those credit cards are are huge. Those micro loans, like little tiny loans, can be really helpful in helping you make some good progress. You need to be careful. They're often going to be high interest. So, I I caution you um because you can get in this cycle where
00:13:50
you're paying really high interest and that's not going to benefit your credit. It's not going to build your business credit. Um so, you need to be careful with it, but if used in the right context, in the right frame, they can be very very useful and very beneficial. So, be very careful with it. Um but can can help you out a lot. Next is a strategy that's uh seller financing or lease to own agreement. So, basically a seller finance deal. And if you haven't watched Pace Morby, um Pace Morby is a
00:14:17
real estate investor. Uh does a lot of subject two. Um he's got like his big uh and this is different from seller financing, but Pace Morby can can tell you a lot about the subject two piece of it. Um and I I kind of equate it to seller financing. I know it's different. Don't get mad at me if you're a real estate investor and you work in one of these. Um, but basically seller financing, you are going to a to to the person that's that's buying it and and you're going to say to you're going to
00:14:44
the go to the seller as a buyer. You're going to the seller and you tell them, "Hey, um, you want a million dollar for that. I don't have a million dollar. Um, but what I will do is I will pay you, you know, $100,000. I'm not going to we're not going to worry about the bank. I'm going to pay you $100,000 um to to get the house and then I'm going to make loan payments to you at a market interest rate. Um so let's you know whatever's left on on the mortgage. I'm going to pay you um enough
00:15:12
money so you can cover that mortgage. We're just going to kind of um work through that together for the next 3 to 5 years at which point I'm going to refinance it and get everything into my name. Like that's a really probably bad a poorly um described version of what seller financing is, but it it allows you to not work with the bank, not have to worry about that. It's a strategy that you can implement to move forward with with a seller who is willing to to work with you on that. Um same with kind
00:15:42
of rent to rent to own, lease to own. You could have conversations with individuals. You need to be very careful. Make sure things are written. I would probably involve an attorney if you're going to be doing something like this. So they don't just pull the rug out from under you two to five years down the road. But you need this is an option where you just start making payments on it because you don't have the credit to to get the funding, but you want to get started. You build up the business. Now you have the business
00:16:07
uh just like as a concept that's working. It's it's showing it's profitable. And that can sometimes be why lenders don't want to lend to you. They don't trust you as a business person. So you do this. you build up um some credibility uh with with an existing business that is actually operating and then you go and you um go get a loan at that point to now own the business. So that's another strategy that you can implement. Next is partnering with investors or private lenders. So, if you have bad credit or
00:16:35
you don't have the funds available, but you have the knowhow, you've been in in the medical field, you're a nurse, you're an LPN, you have been an operator or or you've been uh an administrator at a facility, so you know this business, like you you got that down and your credit's not great. Like, there's a combination of things there. Um, but you know you can do it. Then you're going to go over uh to maybe a real estate meetup or or you're going to start building
00:17:00
relationships with potential investors to say, "Hey, I know what I'm doing. Uh I'll give you 50% ownership, whatever. Uh you want to negotiate with them. Um and I I just need you to to be the person that gives me the money. Uh that that's my credit partner that that can do XYZ. Um, I'm going to give you a portion of of the business here, portion of the equity in the business, and you don't really have to do anything. I just need you to be there to sign things on the dotted line, and then we'll
00:17:30
refinance out of it in 3 to 5 years, and we'll get you off, and you can get all your money back, and and you don't have to worry about I'll just take over 100% ownership at that point. Those are conversations that you can have. You can do that with private investors. Uh, you can do it with um private lenders as well, uh, where there I've not worked with private lenders in this sense um before, but you're going to see something that's kind of similar, but they want to to have some good
00:17:56
confidence that you um know what you're doing and and can make some progress on it. Um next is going to be um local and state grants for senior care and housing. And I have to say these are very hard to find. Um, so there's there there are dozens scores, hundreds of you out there that are just like, "Man, if I could just get a grant, then I could get started." If that's you, type in grants down below. I have a grant writing template that I can uh send a link to you for uh so you understand how to
00:18:25
write grants. And actually, in the Launchpad, there's an entire course. It's a bonus that is all about grants that I've sold in the past for $400 that's just included in it um for you. So, um, go ahead and and like go check that out. Um, grants can be hard to find, like extremely hard. I'm working directly with one of my mastermind clients who upgraded into one of my grant um, funding programs. Um, and we're working through that. And I am going through meticulously. Uh, I've
00:18:54
gone through about 170 grants at this point. And of those, we've found 10 to 15 that might be a decent fit. and and that's because of the situation that she finds herself in where she has the house and she's going to do renovations on it. And so we're trying to find um things like that. I've done grants before. I've done uh I have 1.2 million for for my facilities and grant funding is a for-profit business. I've worked for nonprofits and have secured multi-million dollars and grant funding
00:19:21
for for those organizations. I understand grants. I know how they work. Um people will tell you they're impossible to find. You can't do it. Um they're possible. You can find them. Um, but it takes a lot of hard work and diligence and looking at them. So, I I would never pin my hat on a grant, but you could find something if you put in the work to to do it and understand how to take a grant from I found an opportunity to I've applied and received the funds now to managing the grant all
00:19:50
the way to the end. There's a lot of work that goes into it. Grants are not it's free money, but there's a lot of work that goes into it. But that's an option for you to consider as well. And then another one is crowdfunding, community investment. Um, not something that I've actually done myself. Uh, but there are opportunities out there if you can get into platforms and things to to put it out there. Pro for smaller residential facilities, you're probably going to have a hard time doing that.
00:20:14
But there there may be an appetite out there for certain types of investors that are willing to do this um to to help you get things started. So, I'm not going to dive too deep into that because it's just above my head, but it is an option for you to to really dig into and and consider as you're trying to get funding. So, these are all alternative funding strategies that you don't necessarily need good credit to do. You're you're going to be that person that's putting in the leg work and
00:20:39
putting in a lot of effort to try to to make things work for everybody that's that's involved in this. So, I mentioned this before. Where to get started, though? Um, you're going to need to start out with that business plan. Um, write down your your outline. Um, go grab the business plan checklist. It's going to help you build that outline. It does not need to be perfect. You just have to get started. Just start making progress on it step by step. And I promise you, if you do, and you're
00:21:04
consistent and persistent, you're going to be successful. That's what I say at the end of all my videos, and it's because it's true. When you do that, and you just start making progress, you're going to iterate off of it, and it's going to turn into something. Don't just sit there and be like, "Man, one day I'm going to have $200,000. I'm going to be able to buy this. Start now. Like, make the universe come together and collaborate with you to help you be
00:21:24
successful. Start taking action. Okay. Um, number two, open a business bank account. You can do that today. It's helpful if you already have an LLC. Um, there are ways to to get around it um if if you don't. Um, but setting up a business bank account. Um, see if you can get a credit card on that account. Start understanding how to build business credit. um you know, as you're taking courses like what I teach, um buy that on a business credit card and and start building out business credit. Um
00:21:54
starting to do that type of a thing can really help you out in the long run and start keeping your finances separate, which is something you're going to need to do as you get into this from an accounting perspective for your taxes and things like that. So, just get in the habit of doing it. You can do that today. Um start exploring um alternative funding options as well. all those things that we were just talking about, start looking into them. Start doing some research. Get on chat GPT or go
00:22:17
watch a YouTube video and understand how seller financing works or or how to do grants or or something along those lines. Go start educating yourself on that and start exploring those different those alternative funding options to see how you're going to build those those relationships to work with a partner uh with with another investor. See what you're going to do to to get that worked out. start making progress there. And number four is get guidance on building your foundation. I can help you out with
00:22:45
that. Again, the Launchpad um it it is an incredible resource. Like I put um so much effort into that. These are it's a bundle of courses that I used to sell individually. It can really help you make some some good progress there as you're getting into this. You can go check it out at assistedlivinginvesting.net/launchpad. Um if you actually go grab the business plan checklist. So go grab that. it will send the checklist to you and then I give you a special discount link there. So, there's just like a little um hint
00:23:14
for you to to get a little bit of a discount on the launchpad. Uh just kind of sequence sequentially. Go grab the business plan checklist, get the link, go grab the launchpad and and help yourself um making progress in building out this foundation. It's going to it's going to change change your world as as you try to do this and help you get started in building this foundation that's going to make it hard for people to say no uh to wanting to work with you um because you have this solid
00:23:39
foundation. So with that, um we're going to get into Q&A. So go ahead and start typing in your questions. Now before you before I get over to there, I want to remind you to like the video, subscribe, and ring the bell as well so you get notified every time we put out content like this. We go live on Tuesdays. We put out content on Thursdays as well. Um, every now and then I'm throwing something out out there. Uh, we do shorts. Like we have a ton of content out there. Uh, if you go grab the
00:24:04
business plan checklist, we'll give you we'll add you to our newsletter which gives you a comprehensive list of everything. Blogs, videos, podcasts, all of the things so you know where to to find me and get up to date. Um, but go to YouTube, like the video, subscribe, ring the bell, and you'll get notified every time we put out content like this. So, let's go ahead and shift over and check out questions here for us as we get started. All right. Um, Damon, uh, good stuff. Yeah, thanks.
00:24:36
Thanks for watching, Damon. Uh, let's see. Market research, um, tools. Yeah, so the Launchpad is going to be able to give that to you. Uh, so again, assisted livinginvesting.net/launchpad. We update it on an annual basis. Um, typically I'm doing that in around like June. Um, we'll start we'll start gathering the data for it in May. Takes me and my team about a month, month and a half to gather everything and do the research and we're going to refine it even more this coming year. I've got um some ideas
00:25:03
on how we're going to do that. I'm really excited for for where it's going to go. But um I'll I'll do a video at some point that are the top 10 for for the year um as we enter into that. So again, like the video, subscribe, ring the bell so you get notified when we put that out there. But um it goes so much deeper. There's so much detail in the the market research guide. And if you get the launchpad, you get that plus the annual updates for forever. Um it's all included there can help you out a ton.
00:25:30
Um lawn, uh let's see. Uh it's great to know the options. Hope that helps you. Um yeah, there's a lot out there. Uh it it's just yeah building that foundation, business plan, underwriting, make sure you understand the finances so you can speak intelligently to it as you're trying to to really make some good progress and move things forward uh along along the path as you're looking for things. Um Patricia, um so you're in the Facebook group. Um you're an RN, you've been in healthcare
00:26:00
field for 17 years and you live in Florida. You really don't know where to start. Uh you need help with funding. So yeah, the there there's a few places. The best place for you to start is the launchpad. Um it it is building the foundation. It is the the first thing that you need to do. I have a five-phase process that I that I go through and um you can learn the entire five-phase process by getting the accelerator course. Um so that's at assistedlivinginvesting.netala for assisted living accelerator. So, ALA,
00:26:31
uh, if you're interested in getting the link, type in ALA down below and I'll make sure I get it to you. Um, but regardless, um, that five-phase process is number one, build the business foundation. You you have to have that. It is it's going to be required. It's going to make things go so much more smoothly as you get into this. Phase two is finding the right property, um, zoning, uh, just everything that kind of goes with the property. Phase three is funding. Um, and what you do in phase
00:26:59
one, building the foundation and then finding the property and getting it ready in phase two really feeds into phase three because you need a house that's in a good market that has enough equity in it for you to get the funding and you're going to need the foundation for you to have that to to get the funding as well. So, that funding is is important. It's it's crucial. Um, I've shared with you a few uh of the things right here that can help you out with that and helping you get started. um in
00:27:25
building the foundation, but um and also those alternative sources, but funding is is key. But it's it's actually phase three. Phase four is all about the regulations. You working in healthcare, being a nurse, you're going to be familiar with a lot of the the stuff that um that goes into into working in the healthcare industry. Um like, you know, there's a lot, right? Um and and it can be overwhelming for a lot of people. You've got a leg up. You you've been in the the industry. Nothing that
00:27:51
you see there is going to be like blindsiding you. it can be a little bit difficult to navigate and understand all the paperwork and the fees and everything that's involved with it. Um but that's that's phase four. And then phase five is um launching and scaling the business. So um how to run payroll, how to find and hire staff, how to do meal planning, how to um you know doing using EHRs um to do your tracking of of the residents and things like that. Um, all of that is is going to be um in
00:28:22
inside of phase 5. So, um, that is, and I'm putting this in the chat right now. So, assisted livinginvesting.net is where you can get the the five phase process, but for you to start if you're not if you're just like five phases, like that feels overwhelming to me. I I don't know if I'm ready for a full um thing today. Um, start with the launchpad. Um, so I would start there. Uh, but if you're you're like, you know, I want to dive into this. I want the full thing and I'll
00:28:47
just take it step by step. Get the accelerator course. Um, so that that's that's what I would tell you as as you're trying to get things started and and how to do this and how to actually make progress. Um, so yeah, I saw you commented that a hopefully that helps you out, Patricia, and thanks for being in the in the Facebook group. Um, I I love uh seeing people that are just kind of in here from all the different places where we're where I'm teaching people and and actively uh getting out here and trying
00:29:16
to help you uh launch your assisted living business. Uh let's see here. I have so many tabs open because I try to make sure I'm getting all the questions from all the places because sometimes they come in on Instagram and sometimes they're over here. It's just confusing. Anyways, um Vita, thank you for your time and contri contribution to the business. You're welcome, Vita. Um thank you for watching. I appreciate you you being here and taking time to to be with me and and hopefully answering the
00:29:44
questions that you have to help you launch your assisted living business. Like it is honestly I I I say this all the time. It's one of my favorite things to do. People ask me why I why I do YouTube, why I do coaching and things like that. U why I don't just like lean in and just do assisted living. It's because like running the business, it's not my favorite thing to do. I would so much rather be here coaching people, helping you make a difference. Like it gives me so much more energy. It's it's
00:30:08
something that I really enjoy doing. So, thank you for for being here and for for watching. Um, all right, let's uh we'll close out here. I want to thank everybody. Thanks for all of you who are live um for for the questions. For those of you that didn't make it, totally fine. Type in your questions down below. We'll make sure you get that. I know there's a lot of people that wanted to see this on the Facebook group. We'll make sure we get you all of the links there um so that you you can watch this
00:30:34
on your own time. Um and make sure you go grab that that business plan checklist. Again, it's that's a free resource, assisted livinginvesting.net/bp checklist. Uh we'll have links down below for you on YouTube so you can go grab that and all the other free resources and really help you make some progress as you're trying to launch your assisted living business. Does residential assisted living sound interesting to you, but you're not sure how to get started? at Assisted Living
00:30:56
Investing. I'm here to help beginners like you launch their assisted living business in the next 12 months. I love helping people. I love coaching people. I want to help you. So, um, and remember, it doesn't take a lot, just a little bit. Ju just keep going step by step by step. And I promise if you do and you're consistent and persistent, you're going to be successful. Thanks for watching and have a great day.
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