The SHOCKING Truth About Assisted Living Under Trump

Transcript

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hey friend it is Brandon Gustafson welcome to Assisted Living investing today um I want to apologize for yesterday as is take two of our of our uh attempt to talk about the Assisted Living industry under the Trump Administration for those of you who are new here um I'm Brandon guson I help beginners like you launch their Assisted Living business in the next 12 months um excited to have you here with us on our live and as I mentioned we're going to be talking about assisted living under the Trump Administration um so I'm going

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to go ahead and share my screen add this uh to the screen if you need some help um getting some some guidance and and need some assistance I have a free resource for you uh go grab it at Assisted Living investing. netb checklist uh it's a business plan checklist that will give you all the things that you need to hit on on a business plan that is going to allow you to get what you need for an assisted living business so again that's Assisted Living investing. net BP checklist we're going to have a a ticker going across

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the bottom of the screen here um throughout the the the live here and those of you who are live um number one uh type in your questions we'll have some time for questions here at the end of the call for sure uh or not call at the end of the of the live session here um so I want to make sure that um you are are getting your your questions answered uh so type those in uh we'll have time for that and if you are new to uh to me uh go ahead and type in newbie down below and for those of you who are in in here

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if you could please please just like comment that you can hear me uh yesterday we had some issues with the Audio I just want to make sure that it is working I got a new microphone uh trying this on a different computer hoping that that will clear up a lot of the issues that we were seeing um yesterday um because of that I may have a little bit of technical difficulties I'm trying to adjust the size of some of my stuff here so I can see all the comments um as normal so if you just comment um we hear you um in in the

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comments uh that would be helpful just so I can make sure sure that you know you're you're able to hear me so uh with that said I want to give you a little bit of background on who I am and why I'm qualified to to talk to you a little bit about this about Assisted Living um awesome thank you um thanks for for letting me know you can hear me and hopefully it has issues if there are issues as we go through this please let me know because I want to make sure that we get this information out to you

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um now my background I I own two assisted living facilities I've done this since 2020 um I operate them remotely I live in Utah and have one of my facilities in Colorado and another one in in Idaho so I've been doing that for a little over four years now uh I've secured over1 and a half million dollars in SBA funding uh so I I've got a lot of experience doing that um but more than that I have a lot of experience in the healthc care industry so I uh have a masters in healthcare administration

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I've worked in the healthcare industry for over a decade uh and have worked under a lot of different administrations as as well have seen a lot of uh of the impact that different administrations can have on the healthcare industry as a whole and so I want to talk with you a little bit about that today so you know exactly you know you know what does this mean we've got a new Administration how's that going to impact things and how's it going to to work um so I want to make sure we touch on that for you um

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in today's video um I have worked uh largely in government programs as well so Medicare Medicaid uh and Medicare Advantage some of the the veterans uh benefit f as well so I've got a lot of experience in that world and have seen how different administrations can impact um healthcare for for good or bad or just in general and so we're going to to really get into that in today's video so you have any questions just in general about Healthcare I will I'll try to answer that if I don't know the answer

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then you know that's fine I can point you to to in the direction of of places that can that can really help you out with that um and as I go through this um we're going to go through uh you know generally I I talk about my five phase approach number one is building a business plan um and it's super important we'll talk about it a little bit here today but I really want to get into phases two through five and the impact that it's going to have on you the Trump Administration will have

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on you as you're trying to find a house uh as you're looking for funding as you're navigating the rules and regulations and as you are trying to just run your business those are the things that we're going to really hit on hard here so as we get into this what I want to to mention to you is we have experienced this before we have had a trump Administration before um 2016 through 2020 uh president Trump was was in office um I would say it was very beneficial for small business owners uh

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there's a lot of good that that happened during that time this is pre covid for the most part um and the economy was was doing very well uh if you think back to that period of time and very well for small businesses as well um I was just on the phone with a friend of mine who who had a a small business and it it was doing very well during that time and has taken a hit in the past few years um and whether that's due to Administration or just covid and and and different types of things you know that that's Up For

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Debate but um the B the the economy was doing well small business was was booming at that time there was less regulation um and you see this in conservative leaning administrations uh generally there is going to be less Administration I'll get into an example of what I how I see that in in my own way of operating businesses one in Idaho and one in Colorado I'm here a little bit later in the video so make sure you stick around for that um so you can see exactly what that looks like uh I think there's going to be fa

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more favorable rates and I I think that's something that probably would have happened um regardless I think rates are going to start coming down and stabilizing um but I I I feel pretty confident that that's something that would be coming up as well but we we saw that um during the previous Trump Administration um the world also we just want to note that the world has changed a lot since that period excuse me since that period of time um we have had um covid since then we've been under a different

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Administration the world is vastly different there are Wars going on throughout the world um and the impact that that has on the economy is something that is real and something that needs to just be taken into consideration so while we have experienced this before a trump Administration Things Are different world is different um things could definitely change so I want to give you an idea of what that looks like um from my perspective and how it's going to impact you as you are trying to get

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started in um in Assisted Living I also want to try to make sure this is as nonpartisan as as I can be um with this and and just be very um upfront with you on what what I see in the industry a little bit of my opinion as well on where things are going so as I go through these um these these different impacts is going to have on housing um funding on rules and regulations and on operating a small business I would love to see any questions that you have um so go ahead and type those in I'll try to

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stay a little bit more on top of any questions that come in um during the the live session um but we'll also have a bunch of a good chunk of time at the end of this um to answer any questions that you have so make sure you're you're typing those in and uh again any issues with audio please let me know sooner than later um so we can work through that uh because I don't want to repeat of yesterday so um all right let's uh let me shift over here impact on housing okay um so what I'm seeing the impact on

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housing under the Trump Administration what I would see is um I think we're still going to be in a housing crisis um I I don't think that's going to change very much at all uh I think there's still a huge demand and a shortage and a short supply of of Housing and I think that's going to continue um throughout um the process for for years um to come I think this is an issue that would have been in place under any other Administration as well we are still we still have a lack of housing um now when

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it comes to deportation um I I'm I have an understanding that I think there are some illegals that are in and taking houses and so if that is the case then that could lead to some houses coming open though I would say the likelihood of that population being in a house that works really well for assisted living is probably um limited and so the impact of it on an a home that you would be using for assisted living I would say is is probably not that big but it's also something that you want to be aware of

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there there's possibly more of an impact on on jobs in that from that standpoint um with people who may have hired illegal individuals to to work at at their facilities um and I would not suggest that you do that because you should be doing things uh the way that you should be running the business correctly but um that that could definitely be a thing uh but its impact on housing I I don't know that it's it's going to be that large um ultimately I don't see that there's going to be a lot of impact under a

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trump Administration for in the short term especially for housing I think we're still the prices will still be high I think in the the short term especially rates will still probably be High um we'll get into funding and the conversation about rates and things here uh and in just a second but uh as far as the volume of houses that are available I I don't know that it's going to change much although I will say that just for the sole purpose of being through the election um regardless of who was going

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to be in in place which Administration would be in place it does provide some stability for business owners and so I do think that um now that we are through that period of time that there will be a lot more people that are open to buying and selling homes and businesses and things like that and in a world where um small businesses like Assisted Living really Thrive need that in order to thrive um I do think that that will open up some some other extra opportunities that there will be people that are

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willing to move and make changes with the way that they um are operating and and potentially looking to sell their businesses so from that standpoint um it would not surprise me if we see more opportunities of existing facilities coming available um but from a house that I'm going to buy and convert standpoint I I think that is going to be a limited amount of change there so that's the impact that I can see on housing under a trump Administration now let's talk about the impact on on lending here um the impact

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on lending and this is something that I think there's a little bit more potential for impact here um though it's hard to to know if this is going to be an impact um just because of the times that we're in and and where things are are moving um with the fed or if it is because of the Trump Administration um I I think that is remains to be seen um and we probably wouldn't know the other way so but I do think that rates will likely continue to come down I I do think that that's something that's going

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to happen um and and that's going to be beneficial for you as you are trying to um find Opportunities to obtain funding and and it also not only opportunities to find funding but also funding that that works with rates and terms that will work for you and by that what I mean is rates right now are very high we so SBA rates um we have SBA 7A loans they are adjustable um they adjust with the fed and so when we got in we were looking at rates that were um typically um I would say between 5 and

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7% and those rates are now up in the nines and tens and what what that has done is added a couple thousand dollars to our debt service payments and that is a significant hit on on us as a small business it it makes it very hard to operate and so with rates coming down um it will make it a lot easier for you from a Debt Service perspective and allow you to um to be able to afford things a lot easier when you're doing your underwriting and especially when it comes to De service so that's something

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that I want you to to also be aware of that rates coming down is going to be beneficial for you um I still regardless of what was going to happen you will still need to build a solid business Foundation you're still going to need to meet those lender requirements and those are not going to change um I would say lenders might be a little more um excited it doesn't seem like the right word but um willing to have conversations with you um under a trump Administration I I I I can see that happening um where banks will will be a

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little bit more open because they have seen economy in the past and they know that it went well and so I think that benefits you um from those types of opportunities that you'll have banks that are a little more willing to to put out loan products and and be a little bit more willing to lend but you still have to be building out this business foundation so um grab the business plan checklist we've got the link for that Assisted Living investing. netb checklist we also have a live session to

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uh next week that is on the business Foundation Basics and what that looks like and and how that's going to work we're going to be building a business plan together in that Workshop if you can make it to live session then I would love to have you there we already have about a dozen people in there um so I'm super excited to do that but for those um that that aren't able to make it live we will be selling the replay or you'll get an instant access to the replays once those are done as well so you can

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get that again it's Assisted Living investing. netb FB for business Foundation Basics um would love to to see you there at that live session um you're going to need it you're going to need to have that business Foundation you need the business plan you need the underwriting you can go grab that at the business planning guide Assisted Living investing. net BPG um as well so go and grab one of those tools um to to really help you out in building this business Foundation because you need it uh

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regardless of what's going to happen here I would also say that an improved economy which I believe is going to happen under a trump Administration um and we'll get into that here when it gets to how to run a business and the impact there um but under an improved economy that will also lead to more lending options I I think it opens up doors for for lenders to feel a lot more confident in giving people more money taking more risk because the economy is going well and and they're going to look at that as

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opportunities to um to to find ways to to lend so that's something else that I can see here is an improved economy is going to equal more lending options that are available um and banks that are willing to work with you so that's that's another piece that um that I want you to be aware of is is just lending I think is going to to be on there um and I can see a few people in the comments and you're welcome Tanya um and Miss Sunday thank you as well and hoping that the the audio is working here continuing

00:15:18
to work so uh yeah uh let's get back over here I just want to make sure there's no I'm not missing any comments let's look at the impact on regulations so this is um this is the piece that I was talking about earlier in the video where we're we're in more conservative leaning States or governments there is less regulation it is it's just naturally what happens and I've mentioned this in the past several times there are less regulations in in more conservative and more red States um than

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there are in more liberal or blue leaning States uh is just kind of a fact of of how that all shakes out um to give an example we operate in Colorado which is a very liberal leaning State um and we also operate in Idaho which is very conservative and what we have found there is in Colorado we have a lot more red tape we have a lot more things that we have to go through um when we have a survey there's a lot more that goes into um going through that that entire survey process um when we're it feels like at

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least at least once a month if not two or three times a month there's another regulation that comes that we have to be aware of um there is mandated increases to wages in in Colorado that we don't see in Idaho or some of the other states that I that I'm aware of um there are things that just come out consistently reporting things that we have to do different surveys there there is a whole lot more work there's a lot more red tape and in order for you to keep uh obtain or maintain your license there's

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a lot more that goes into it in those types of States um what I would say is in more liberal leaning States there's probably more government type programs that are available to to individuals so uh it's just something there's there's a bit of a trade-off there um it does that doesn't mean that there's more programs for you to take advantage of there just are more programs that are there um to help from a welfare standpoint it's it's a little more of like a welfare state um

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is is the best way I could explain it um there's those types of programs it doesn't impact you necessarily as an assisted living owner just there's there's more potential for the consumers of those products that are available so that's something you want to be aware whereas in Idaho it's it's more conservative leaning um we have a lot more free reign on how we're going to operate our business on how we're going to obtain the license you still it's still Healthcare it's still heavily

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regulated there's still a lot that goes into that um but uh from a operating your business and carrying for your resident standpoint and and how you handle and deal with State uh surveys and things like that it's a lot easier so what I see here is um I really feel like in a trump Administration there will be less regulation there it will be hands will be untied you'll have a lot more opportunities to to operate the way that you would like to it will be a lower barrier to getting into the

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industry I think um and and be a little bit easier for you to operate all of that with the understanding that you're still dealing with Healthcare there's still a big level of uh regulation and and things like that that you have to meet you have to meet certain standards you're going to still have to have your policies and procedures in place there's still licensing processes there's still fees there's still a lot of red tape there there's just going to be less because the federal government will will

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be at that level the other thing that I've seen um and I don't know if this is going to touch um assisted living as much because it is a a Medicare program it's under the CMS umbrella but I have heard um as I've been just kind of paying attention to to the landscape of of how this is all changing that there are um that there could be a decentralization of some of the federal organizations and they would go back to the state I was listening to a podcast about this uh yesterday they were

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talking about the Department of Education and potentially giving that back to the States as an example um and decentralizing it so that it's no longer a federal agency and education goes back to the States for them to deal with I don't know that that I I've actually heard that as as well with like hospice um and uh Home Health but I don't think that that's going to happen um with Assisted Living because it falls under an umbrella that is largely in long-term care um and while it doesn't have a

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federal standard it's already at a state level um the the impact that Medicaid has on it um with Medicade being a federal program run at a state level um I don't see there being a ton of impact there I think less regulation will be a little bit easier to to get in and understand exactly what's going on um remove some of the barriers to entry but um still Healthcare still still a lot of stuff there now as far as these government programs that I that I've been mentioning you know Medicaid is

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specific to Assisted Living you're not going to be dealing with Medicare or Medicare Advantage or anything like that but um I have I've also read up on a few things that there's the possibility of privatization of Medicare and I don't know that that is necessarily because of a trump Administration I think that that could be simply because um Medicare is getting to a point where it's it's starting to Sunset I I don't think it was ever intended when when Medicare was created um the life expectancy was much

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shorter than it is today and um and so the intent with Medicare when it was created was okay we'll do this you you you pay into it until you retire then you retire and then you're on Medicare for maybe five years and the very rare instance you're on it for 10 to 15 years and then you'll pass away um and that's just not the case anymore people are on Medicare for a lot longer than they used to be and that has led into a lot of um not having the funds available for Medicare and so that's something to be

00:21:19
to kind of keep an eye on the horizon and that's where I could see some some leaning towards privatization this is where like Medicare Advantage is is kind of a it's a hybrid type of a of a program that involves Medicare and private insurance um I could see that getting bigger possibly traditional Medicare going away somewhere down the line I don't think that's an immediate thing but I could see that uh and becoming more Medicare Advantage type programs um focused um I don't know that

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that will happen with Medicaid I'd be really interested I could see it on the horizon where you have some kind of a hybrid type of a program there as well um but not something that I've actually seen but that's that's something that you want to kind of keep an eye on um now you are dealing with private pay or even long-term care insurance this isn't going to be something that's going to impact you but if you are dealing with one of those government programs Medicaid for example then it's something

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you want to keep an eye on I don't anticipate that changing um CMS is a it was put into law um it is a federally funded and backed and run program it's different from some of the other agencies that exist inside of the the federal government so I think it's different but it's something to keep an eye on I don't think especially in the short term I don't think there's any impact on Assisted Living um from a from that standpoint other than maybe hands are loosened up the red tipe goes away a

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little bit there is what I could see there as far as an impact on on regulations um all right let's get into the impact on small business and of all the things that we've been talking about today this is the one that I would say there's there's probably a more positive impact here under Trump ad Administration than um any of the other ones I think the other ones um there would have been change that that is outside the influence of an Administration um housing and um and and some of those things I I I think there's

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not a lot of change that's going to go on in those other than just kind of natural stuff that happens however the impact on small business under Trump Administration we know um from past experience that was very beneficial for small businesses um I think there will be lower tax rates I've heard a lot of about that um and we won't get into tariffs and income tax and and things like that but the the potential impact of tariffs um being increased and uh income tax being decreased could really

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benefit small businesses and benefit their employees which is something that I could really see um benefiting uh small businesses uh for sure now the no tax on tips or even overtime I've heard talked about as well is another thing that I think could benefit you as a business owner and making sure that you have the the right employees and happy employees employees that that are excited to come to work because they feel like they're getting fairly compensated for the work that they're

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doing so that is another huge one that I could see um that those the tax rates um really it comes down to taxation um that could have a huge benefit on your ability to be profitable and also pay your staff more effectively pay them more without having to pay them more um because they get to keep a lot of that money which I think could be very very beneficial to this industry that is already um hard uh when it comes to Staffing it's the most difficult part of of running this type of a business is

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Staffing and that could really really benefit um people as we get into this um as far as like being a business owner there's also going to be other types of tax deductions I've heard about the qualified business in deductions that exist uh that are there for taxes as well um when you are working on these if you're buying the real estate and you have the business there's a lot of tax benefits that come into that these are all things that I don't personally know I'm not a CPA um but I would suggest

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that you find and hire one or talk to one about the impact that a lot of this could have on your business um there's a podcast Mark J ker does um he I worked with his CPA firm they they kind of split that up and so my accountant is is now a standalone um but worked with him and then he's we also do our stuff through him for our attorney um they our attorney's office um but he does podcasts on a regular basis um and he did one of of tax um implications under a a trump Administration and under a

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Harris Administration and pros and cons on both sides so that's a really good resource for you again that's Mark J ker um I think if you go on YouTube you can find it or um they have a Main Street business podcast as well where you can get a lot of that information so replug to him um but he has a lot of really good information on that and I think that's worth listening to so you can understand what some of the tax implications are for you as a business owner uh as you get into this um and

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that's something that honestly when I was getting started I did not think a lot about um but has been very beneficial for us as we have owned this as from a tax perspective it's been very beneficial to own businesses and own the real estate so that's something just kind of a there's probably a lot of you that listen to this you're like this is why I want this it is for those reasons but there I'm sure there are a lot of you out there that are listening and you haven't even given that a thought and

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this is how you can really benefit um you're not going to give as much of your money away in taxes which is which is nice um I also think that there will be more access to Capital and this goes back to what we're talking about in funding where there's less regulation and so I think that equals excuse me that will lead to to more funding options and more funding opportunities and lenders being a little more willing to work um with you on on funding opportunities so that's that's

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another thing I think there will be more access to Capital from that standpoint and I also think that investors will be more willing to look at opportunities um as as the economy improves and that will be easier to raise funds um to do Investments and and things like that so your access to Capital I think is going to also increase quite a bit um under Trump Administration so that's something else that I see um let's see I've got just want to make sure I'm uh okay yeah so I've got a few questions

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here but nothing right there okay I'm going to flip back over to uh this and then we'll get into the Q&A session here in just a second um now let's talk about my Outlook overall on the industry and what I am seeing with this so my Outlook I am still bullish on the industry I I would have been bullish under a Harris Administration I I still think assisted living is is a great industry to be in I think now is the perfect time to be getting into it you have the silver tsunami coming and I think that it is

00:28:05
also something that is um that is only going to increase and I think we're at the beginning phase of a lot of this right now so I think now is a really good time for you to to be in on this um I also believe that less regulation is going to be better for the industry as a whole I think it's something that um is going to to benefit uh people as as they're looking to get started I I think the barriers to entry are going to be reduced and I think it will be easier for you to get into assisted living and

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start a business like this under Trump Administration I really do believe that that that's the case um now as far as um when it comes to funding I think there will be improved interest rates and more access to Capital I think as the economy improves and and it it goes better that we will see a lot of uh opportunities there with interest rates and access to Capital to really help you get things started and I I talk to a lot of you and I know that that's a big concern for a lot of you and I really think that

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that's something that is going to improve under a trump Administration and over the next four years um allow you to get in and and operate these businesses and be successful and be profitable and have a solid impact and positive impact on your communities so that's another piece that I that I can see there for sure now like I give it a thumbs up I think now is as good a Time as any to get started I really do um I would have said this under Harris Administration there there would have been different

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things um I think there would have been positives under that Administration as well I there I think would have been access to other types of programs and things like that um I I we're not going to get into that because that's not what happen it's not the reality that we're living in um so I think that it would have been fine there um as well but I like regardless I think assisted living is an incredible opportunity to get in at the ground level um before the silver tsunami really hits and you can ride

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that wave for the next 20 to 40 years um and really have a lot of success and really make a huge impact on the communities that that you're living in so it's something that I really still am very bullish on and and think you can be successful with this so my Outlook go for it um I think this is a great opportunity all right um so let's get into Q&A I see there's quite a few questions over there uh but before we get into that I want to make sure I remind people to like the video

00:30:25
subscribe and ring the bell so you get notified um yesterday we we tried to go live had audio issues so we did it today and and you don't get notified unless you were ringing the bell there on YouTube um so excited to have those of you that were able to make this on like absolutely notice because I have been busy all day and forgot to put it in the Facebook um group uh that we that we were going live but um also you know just make sure you want to do that go grab the business plan checklist

00:30:51
Assisted Living investing. netb checklist um we've got the ticker going down below and if you need some help as you're going through this process you need some extra guidance um consider applying to the The Mastermind program it's Alim mastermind.com free application just lets me see if I can help you or not and if I can I will send you all the details and you can decide if it's a good fit for you or not again that's Alim mastermind.com free application um let me see if I can help

00:31:16
you if I can then I'll send you all the details and you decide if it's a good fit for you or not all right let's get into questions here um let's see here I feel like there's a way for me to um Mark these that they're done no okay so let's see uh newbie um all right for Miss Sunday let's see I'm going to show this one um for a start what would you recommend government programs clients or private um it's a good question so if you are if you are buying an existing

00:31:49
facility I would say go with what is already there um I would work with that population so it could be that you're working with um it could be that you're working with a population that is private pay I would keep going with that private pay type of a population and and working with them and trying to to build up that clientele if they're if you're working with a Medicaid population I would stick with that and then you could progressively see if you want to move things over to private pay um I think

00:32:15
both are are going to be fine for you I personally like Medicaid I like working in government programs I'm very familiar with that industry I've worked in that that side of healthcare for a long time I understand uh everything that goes into it and what it takes to to be successful there so I'm not scared of it and I think that gives me a very good competitive Advantage because a lot of people are um so that's that's something that I can use to set myself apart and that's something I talk about and teach

00:32:41
you in The Mastermind program again that's Alim mastermind.com um so as you're going into this I really think it depends um and it depends on every single deal is unique and you have to underwrite it and understand what you're getting into in the underwriting calculator that I give away just go to Assisted Living investing. net um and grab the calculator just be a the big blue button in the top right corner um there on the 24mth Prof Forma there's a spot where you can put in the rates for

00:33:07
um private and Medicaid for assisted living and Memory Care um so you're able to put those those things in there then you could really see exactly what that's going to look like um so that's something that I would encourage you to also do is um underwrite it and see which one of those is going to make the most sense the other thing that is is a misnomer and and for those watching um would love to if you want me to dive a little bit deeper into Medicaid type in Medicaid down below because I could

00:33:33
definitely get into this a little bit deeper in another video um but there's a misnomer I think with Medicaid that it's it's very simplified and you only get a certain amount and that could be the case in certain States but we have found um in Idaho that we've been able to increase daily rates based off the amount of care that we're providing to Residents um we have to document all this and we have to show it but we've been able to to increase rates from like $80 a day to $150 $160 a day like almost

00:34:00
doubling the amount that comes into us simply by documenting what we the work that we are doing and then demonstrating that to our nurses and to case managers um the process there is not um it's not complicated there's just more paperwork involved but you can raise rates and you can get really high-paying residents um in Medicaid like I'm I'm going to do I think I've got in in line a video on this um schedule for early next year about Medicaid and how I have gotten $122,000 a bed with Medicaid or a room

00:34:35
um with Medicaid and I've been able to do that so if that's something that's interesting to you you want to learn more about it then just type in Medicaid down below I can definitely get into that um in another video so thanks for that that comment um Leandro yes I am live um and thanks for thanks for joining um I'll skip all the other ones uh for you thanks for being here um Leandro uh so approximately how much do I need to start uh a six bed uh Assisted Living um that's a good question I think

00:35:04
it depends largely on uh are you buying an existing facility or are you going to be buying a home to do this if you're buying a home and it very much is dependent on the real estate and how much uh that real estate is going to cost you so for just very round numbers let's say you're getting something for $500,000 okay when you're going the SBA route it's an existing facility six beds it's licensed for that you're buying it for 500,000 your down payment for that is going to be 15 to 20% so let's just

00:35:39
say it's 20% that puts you at about $100,000 down um as you go into needing some extra operating capital I suggest you get two to six months you do your underwriting process figure out what that's going to look like for you and then you ask for that um the nice thing with SBA is you can actually ask for that as you're getting the loan um so that's something that that I want you to be aware of as well that you can um you know say I need an extra 50,000 for operating Capital you can build that

00:36:05
into your request up front and you don't have to have that $50,000 of extra Capital you've got to have 20% of that as part of your down payment so um that's something now if you're going to buy an existing home and then you're going to renovate it um you're looking at probably 25 to 30% down so in that scenario uh let's just say it's 30% because it's easier math for me on the Fly um that's going to be uh you know $150,000 down plus you're probably going

00:36:34
to need to get an extra SBA loan um for operating Capital so that's an extra 50,000 and you need another 20% of that um so you know do the math on there I can't do all this math in my head on the Fly um you know $10,000 there um so you're looking at something like $160,000 down um in that scenario um plus potentially any Renovations you need to do which could be you know 20 to $100,000 it just kind of depends so it really does each each individual situation is is unique now the other

00:37:07
thing I want to point out is you don't have to have all that money yourself you can work with people partner um use other people's money to help you get to those goals um is another thing that's where we went back to the funding thing I think in an improved economy um that can open up doors to more investors being open to working with you so that's that's one thing there um Angel uh was wondering are you doing mentorship for beginners if so how much yes so we've got the Mastermind program

00:37:35
Ali mastermind.com thanks for asking um it's free application so you can go in there and and just apply it takes you five minutes um I ask you a few questions let me see if I can help you or not and if I can I will send you all the details um and then including the price there's a webinar talks about everything that's in there and then if you feel like you still need a conversation then just reach out to me and I can have have that ation with you um if it's not a good fit then I have

00:38:01
other programs so you can go to Assisted Living investing. netshop um shop um and and you can look at all the different products that I have there The Mastermind program is on there um as well on that website but if you go through the application process you will get a discounted um price on that um significantly it's about 46% discount uh up to 46% discount so if you go through the application process it's the best way for you to um to see if it's a good fit for you or not um and and it's no pressure like if

00:38:33
you want to jump on a call with me I can I can definitely do that and make sure I answer your questions uh but I do that because it saves me a bunch of time I love talking with you all but uh my my calendar fills up way too much when I open up for strategy calls and I just don't have time because I want to serve the people in The Mastermind program a little bit better and and so we've automated this through our application process so again it's Alim mastermind.com um just go apply there

00:39:00
um Medicaid all right we got a few comments here um Tanya um Jonica Medicaid in North Carolina very good um you're welcome Miss Sunday uh Leandro so if you've got the you've got the home already um then you're probably looking at just the renovation so if you you've got the home you've got a licensees we have somebody in the The Mastermind program right now that's looking at doing this um they've been working we've been chatting with the city and the fire department and

00:39:27
figuring out exactly what needs to happen inside the house um for her um and the quote we're at I think is about 46,000 is what she needs so she's going to do hard money um to do that renovation to get it in place and then um she'll either refinance that or or she'll figure out uh do a dscr loan um she'll figure out something uh with that on the back end but that's kind of the plan up front um so for her was 46,000 but I don't it's hard for me to know she's she's got a home she's going to

00:39:55
have about 16 residents in there um I I wouldn't say that you have a you know six divided by 16 and and then apply that number to 46,000 that's what you're looking at like there's no way for me to say because you could live in California it could be super expensive you could live in in Texas and it's not very much uh it's just kind of hard to say you have to work through things and then I also suggest that you get that money um upfront um for operating Capital two to six months so you do your underwriting

00:40:21
figure out what that's going to be and that's another chunk that you want to have so you could be looking at $20,000 you could be looking at $100,000 just kind of or even more just kind of depends on the scenario of the house what needs to be done to it and and what that's going to look like hope that helps um and you're welcome um and you're welcome as well angel thank you um cool um so for those of you thanks for being here like this has been really good a lot of good conversations and things like that I

00:40:49
want to remind people to go grab that free business plan checklist again it's Assisted Living investing. netb checklist um and can help you out there for sure and it sounds like the audio has been better on this video so I'm grateful for that because I was really frustrated yesterday when it wasn't working uh when I got off and it found out it wasn't going not very happy uh anyways uh thanks for being here thanks for watching does residential Assisted Living sound interesting to you but you

00:41:17
don't know how to get started at Assisted Living investing. net I'm here to help beginners like you launch their Assisted Living business in the next 12 months and I also want to you know thank you for watching but remind you that it does doesn't take a lot just a little bit just keep going keep making progress step by step by step and I promise you that if you do and you're consistent and persistent you're going to be successful so thanks for watching um and Leandro yeah it's going to be in Tampa

00:41:40
Florida gonna be less than California probably but still kind of costly I think Florida's kind of expensive so um I there's all the process you want to go through there um so yeah I would check out I would I would have conversations there um but thanks again for watching everybody and we'll chat with you next week have a great day