Episode 114 | I Sold My Assisted Living Facility!
In this episode of the Assisted Living Investing Podcast, Brandon Gustafson shares his personal journey from reading Rich Dad, Poor Dad to owning and eventually selling one of his assisted living facilities focused on mental health care. With homes in both Idaho and Colorado, Brandon opens up about the challenges of staffing, financial planning, and maintaining occupancy, while offering key lessons and actionable advice for anyone looking to enter the assisted living space. He emphasizes the value of care, realistic planning, and steady execution, encouraging listeners to blend passion with business discipline.
00:00:00 – Introduction
00:00:22 – Announcement: Selling My Facility
00:02:43 – How I Got Into Assisted Living
00:04:00 – Initial Assisted Living Research
00:05:15 – Early Challenges & Funding
00:06:16 – Advice from Mentor & Finding Existing Facilities
00:07:31 – Purchase of First Facility
00:09:07 – Operating During COVID-19
00:09:53 – Facility Focus: Mental Health Assisted Living
00:11:10 – Operating Out-of-State Challenges
00:11:26 – Facility Details & Renovations
00:12:34 – Location Highlight: Garden of the Gods
00:12:56 – The Importance of Caring for People
00:14:03 – Regulatory & Medicaid Complexity
00:15:10 – Grant Funding Experience
00:16:09 – Challenges: High Costs & Staffing Issues
00:17:22 – Impact of Low Census on Profitability
00:20:17 – Key Lessons Learned
00:22:15 – Is Assisted Living Profitable?
00:25:38 – Closing Thoughts
Resources Mentioned:
Visit our website, AssistedLivingInvesting.net, for additional resources, including our year-long mastermind program and free underwriting calculator.
Get your free business plan checklist today: https://urlgeni.us/alibpc
Learn about the Assisted Living Basics: https://www.assistedlivinginvesting.net/basics
Learn about the Assisted Living Investing Mastermind: assistedlivinginvesting.net/mastermind
Apply for the Mastermind today: alimastermind.com/application
Join the Business Foundation Basics Workshop: Assisted Living Business Foundation Basics
Learn the five steps to help you start an assisted living business: https://youtube.com/live/dRVCa80SOyM
Get the 12 Week Year Book: https://amzn.to/4bAOpQf
Marketing Made Simple by Donald Miller: https://amzn.to/3ECoNY5
Who Not How by Benjamin Hardy : https://bit.ly/whonothowbooklink
Courses:
- Do you need guidance on your journey to launching your assisted living business: https://urlgeni.us/aliala
- Do you need help building your business plan: https://urlgeni.us/alibpg
FREE Resources:
- Business Plan Checklist: https://urlgeni.us/alibpc
- Calculator: https://urlgeni.us/alicalc
- Lease Agreement Template: https://urlgeni.us/alila
- ProfitPath Analysis Tool: https://urlgeni.us/aliprofitpath
- Grant Writing Template: https://urlgeni.us/aligrant
Need help with your payroll? Get Gusto: https://gusto.com/i/brandon9590
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