Guarino Family 2

Pro-Tips For Working Together in a Business as a Family

By Gene Guarino

Here’s some lessons I’ve learned to help you to grow closer as a family when you’re working together in business.

Each family member is unique…embrace it.

Utilizing a “personality profile” can be a great objective tool to help identify each person’s unique skills and talents. We use the Predictive Index tool for hiring and to make sure everyone is in the right seat on the bus.

Communication is critical to your family’s health

We use the EOS system to help us with business organization and communication. It’s been an invaluable system us as we’ve grown by over 400% over the past 7 years.

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Image by Anita Oosting from Pixabay

The Family that Plays Together Stays Together

I’ve been asked “what’s the best investment you’ve ever made?” My answer is always the same, Family Vacations. Investing the time and money was one of the best investments I’ve ever made. Those “18 summers” go fast when you’re an entrepreneur. You can make an impact far beyond that if you invest the time and attention along the way.

FFF – Forced Family Fun

Do you remember when you responded “because I said so” when the kids were impatiently asking you that? Or those times when you were providing a great experience for your kids but they weren’t appreciating it as much as you thought they would or should? Well, I Do!

We created a term for that, FFF. Forced Family Fun.

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Image by michellerey17 from Pixabay

Today, we enjoy our FFF even more because everyone gets to pick an activity. Between Christmas and News Years, we make a list of “fun” activities that we can do together as a family. Each member gets to “pick” an activity and we do them as a family.

In the past we’ve done a lot of fun things like, group massages, yoga, game night, bowling, wine and art, movies, kickball, pickleball, driving range, reflexology, salt baths, cryotherapy, frisbee golf, snowmobiling, skiing, sledding, ice skating, scooter races and contests of every kind.

Passing on the traditions from one generation to the next.
Try it this year and see what kind of fun things you come up with for your own FFF.


gene

Gene Guarino
Founder/CEO
Residential Assisted Living Academy™

Gene is the President, CEO & Founder of RALAcademy.com. Gene has over 30 years experience in real estate investing and business. Today, Gene is focused on just one thing… investing in the mega-trend of senior assisted housing. He has trained thousands of investors/entrepreneurs throughout the United States how to invest in and operate residential assisted living homes. For over 25 years he has been educating people on the strategies of successful investing, business and self-employment. He now specializes in helping others take advantage of this mega-trend opportunity.

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Residential Assisted Living Seniors Housing Statistics

By Gene Guarino

Latest Statistics Available for the Coming of the “Silver Tsunami of Seniors”

OVERVIEW OF THE SENIOR HOUSING OPPORTUNITY

13,000,000 + People are 80 Years Old or Older Right Now

61,000,000 + Will become 80 or Older Over the Next 20 years

996,000 Assisted Living Beds Exist in the US Today

28,900 Assisted Living Communities Exist in the US Today

33 Is The Average Number of Residents Per Community

61% Of the Beds are in RAL Homes with 4-25 Residents

THE PROJECTED NUMBER OF BEDS NEEDED BY 2029

2,296,000 Projected number of beds needed by 2029

1,300,000 New Beds Are Projected to be Needed by 2029

<40,000 New Beds are Added to the Bed Count Each year.

1,000,000 Potential Additional Number Of Beds Needed

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MONTHLY COSTS FOR ASSISTED LIVING IN THE US TODAY

$ 4,051 Average Cost for a Private Room in an AL Community

$11,288 Highest Average Rate in the US is in Washington DC

$ 2,881 Lowest Average Rate in the US is in Missouri

3.64% Average Annual Increase in the Monthly Cost of AL

DIFFERENCES IN THE TYPES OF SENIOR HOUSING AND CARE

IL = Independent Living. Age Restricted Adult Community

AL = Assisted Living. Non-Medical Care for Seniors

NC = Nursing Care. 24/7 Medical Care For Seniors

Sources:

RALNA – RAL National Association

www.RALNA.org

NIC – National Investment Council

www.NIC.org

STATISTA

www.Statista.com

GENWORTH

www.Genworth.com

US CENSUS

www.Census.gov


gene

Gene Guarino
Founder/CEO
Residential Assisted Living Academy™

Gene is the President, CEO & Founder of RALAcademy.com. Gene has over 30 years experience in real estate investing and business. Today, Gene is focused on just one thing… investing in the mega-trend of senior assisted housing. He has trained thousands of investors/entrepreneurs throughout the United States how to invest in and operate residential assisted living homes. For over 25 years he has been educating people on the strategies of successful investing, business and self-employment. He now specializes in helping others take advantage of this mega-trend opportunity.

Guarino Family featured

Building a Family Legacy

How Gene Guarino Built a Generational REI Business

They say you should never work with family… I disagree.
When you do it right, a family business can be your greatest legacy of all.

I’ve been an entrepreneur my entire life starting very early. When I was 12 or so, I did all the usual “kid stuff” like cutting grass, raking leaves, and shoveling snow. I remember my mother had us “selling things” door to door like apples and pumpkins in the fall, and decorated sugar cubes in the spring, or washing cars in the summer. It was normal for us and it was the start of a legacy of entrepreneurship, opportunity, and teamwork that I have passed down to my kids. At age 16 I had my first official “business”- a music school with a recording studio and a record label. By the age of 18 I bought my first piece of real estate and the entrepreneurial journey hasn’t stopped since.

Time goes fast.

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40+ years and 20+ businesses ago, I’m blessed to be able to work with my kids on a daily basis. Our focus is Residential Assisted Living for seniors. We started 7 years ago, and we own, operate, and invest in RAL homes, while training and supporting others doing it too.

Working with my kids has been an incredible opportunity to continue to be a part of their lives as I pass on wisdom, insights and get to help them become the amazing adults they are today. To be part of their lives beyond those first “18 summers” has been the best part of all.

My daughter Isabelle is the COO of the AL Family group of companies.
She’s an absolute Rockstar! That’s what everyone who works with her says, and I whole heartedly agree. Here are her thoughts on working together as a family…

“When Gene started his Residential Assisted Living Academy, I thought it was just another real estate business. I had no idea what the future impact would be from the work he was doing. I never would have imagined we could come this far, this fast.

He once asked me to come visit one of the homes and meet the residents. He explained how his heart had grown and changed since his mom, my grandma, needed care. She had already passed by this time, but his willingness to help other seniors had grown exponentially, and he shared his new passion with us. Seeing that, and all the work he was doing to grow the Residential Assisted Living Academy was inspiring!

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He genuinely wanted to create a solution that did not exist and he saw the bigger picture. The Silver Tsunami of Seniors was coming and he knew this was the right time and the right place. Financially it made sense, but more importantly it was about impact investing and how we could feel good about making money AND helping people too.

I immediately started thinking, how I could leave my job as a flight attendant to come work for him? I had skills in event planning and I knew Gene could use my help. I asked him to hire me and that’s where my journey with the family business began. I took over the organization of the live trainings. They started small, but today we provide training for people from around the world that want to learn about this incredible industry. As the COO, my responsibility is to implement Gene’s vision as the AL Family continues to grow.

Over the past 5 years, we have also created the Residential National Convention, an annual event for the RAL industry. We launched the RAL National Association, Family Legacy Homes, the AL Network, and more! We’re launching new businesses each year. I love this industry because it solves so many problems for people that need help caring for their parents and grandparents.

It’s been such a pleasure working with my family and especially my dad, Gene. He is an amazing inspiration and leader. He has inspired us to bring to life his vision of positively impacting 1 million people through Residential Assisted Living. All along the way he’s imparting life lessons and wisdom that he’s learned. We’re all growing together and I couldn’t be happier or more inspired than I am working together as a family.

In the future I plan to incorporate my own family into this. I’m excited to bring my own kids into our Residential Assisted Living homes and show them the impact we’re having on seniors and their families. I hope my children can see the good work we’re doing in the RAL industry and feel inspired to keep the tradition and legacy going. I want to pass on to my kids what my dad passed to me. Giving them a leg-up in the world and feeling good about helping others through RAL!”

Guarino Family 3Emmanuel, my son, leads the sales division at the AL Family group of companies. He says,

“When I started working with the company it was just my dad and a few other people. I remember asking him what I could do to help. Three months prior to that, my father gave me Robert Kiyosaki’s Rich Dad Poor Dad. I read that book in what felt like 20 minutes. After I read it, I witnessed Robert Kiyosaki asking my dad all about what HE was doing. Robert wanted to learn more about the RAL model. That blew my mind! When I saw that I jumped in.

I remember telling my future wife and telling her about what I did. She jumped right in. My sister Victoria was a schoolteacher and eventually, joined the family business too, shortly followed by her husband. My sister Isabelle was already on board and was moving up in the company. She was the enforcer- doing anything that needed to get done. She quickly became the boss.

Working with family does come with its challenges. In my opinion if you do not have a business coach or an outside source that can oversee what you’re doing, you’re going to struggle. Our business coach works with us every three months. When he’s there, we discuss what we’ve done well and what we can improve. However, the real benefit of having a coach is that they have an unbiased view and that can help tremendously. Many times, it’s hard to evaluate yourself or what your family thinks of you. However, with an unbiased third-party they can see what’s right and what’s wrong. We’ve been blessed and we all work extremely hard and are extremely focused. I think the reason this is possible is because we believe we’re building something much bigger than ourselves and we see this company helping the masses.

Leaving a legacy for the future:

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It’s amazing to get to do what we do. Many times, my wife and I ask ourselves how we got so lucky to be part of this family and this company. We’re incredibly blessed to do work that really helps people. We get to help the residents and their families, but we also get to help the staff and their families.”

My daughter Victoria is the CFO of the AL Family group of companies. She says,

“I was a teacher working long, underpaid and under-appreciated hours. My dad needed an assistant and help with office work. I was about to have my second child and flexible hours sounded amazing! Some things are just meant to be. Timing in life is critical and the opportunity to work with my own family was challenging, exciting, and fun.

As a family, we all get along surprisingly well. Growing up we were a close family. I think the secret to our current success is that we all have different strengths, and we work within them. Each sibling has unique roles and responsibilities within the company and that gives us enough of a separation from getting in each other’s hair.

My favorite part of family business is that I can be myself. I know that my opinion is valued and these people know what I mean when I speak. They understand me and my perspective. I feel comfortable around them and we can address issues head-on. Residential Assisted Living is a great business model for building a family legacy. We teach people how to work on the business, not in it. Families can successfully work together if there is mutual respect and open communication.

As a child, I would watch my parents and want to be like them when I grew up. I hope I can be that example to my children. I want them to see us as positive influences and have a desire to continue the very valuable work that we do. It’s an honor and a privilege to work with my family in a business that is truly changing lives- Doing Good And Doing Well!”

I have to say that working together as a family has been a huge blessing and the best legacy I could ever provide. I wouldn’t change it for anything in the world. – Gene

To learn more about Gene and the AL Family, check out: www.ALFamily.com

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What Does The Future Hold for Residential Assisted Living?

Photo by Andrea Piacquadio from Pexels

By Gene Guarino

Where is the Assisted Living industry headed?

There are 77 million baby boomers in America alone. That is 4,000 people turning 85 every day, 120,000 every month, and 1.4 million this year alone. And this is happening all over the world. The average person living in assisted living is 82 years old, and they will live there for an average of two to three years, maybe even longer. So when we are talking about 1.4 million baby boomers, not all of them will check into assisted living but a percentage will. The fact is that 70 percent of us are going to need help with our Activities of Daily Living, ADL, for an average of three and a half years. Whether they live at home and have someone come in and help us, or they go to a Residential Assisted Living home, they are going to need that help.

So when we are talking about 30 percent of 1.4 million people, not including the ones who are turning 86, 87, 88, and so on. That is potentially hundreds of thousands of people who are going to need help.

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Photo by Expect Best from Pexels

Currently there are 1.4 million people living in assisted living and there will be that much more need each year coming, which is why you see big box facilities being built. There is a need, but when I needed help with my own mom, I didn’t want to send her to a big complex. She wanted to stay at home. But when you do need to send them someplace, you want it to be a home, which is what Residential Assisted Living is.

What is going to happen in the Future?

More and more people are going to need this help, and you want to be the alternative to the big box complex in their own neighborhood. A lot of people are going to want this option. We only need 10 to 12 who want this option over the big complex of 200 or more beds. We may charge more if we have better amenities, or less if we want the business more than the big facility does. We don’t want to charge too little or too much. However there is a sweet spot that we charge, and this works all over the country.

How do we position ourselves for success?

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Photo by Gerd Altmann from Pexels

When the big box companies start building these large facilities in your area, they will be looking to acquire market share. Which means that they are going to come to us and want to buy what we have. If you have 10 homes you are a target. If you have 50 or more homes, you become a bigger target and you are even more valuable to them. At this point you have some great options:

  1. Keep what you have and continue to make thousands of dollars in net profit each month from each RAL home.
  2. Sell your RAL businesses for a big lump sum and lease the properties back to the buyers
  3. Sell the RAL businesses AND the real estate for an even bigger pay day

The opportunity is huge and the timing is absolutely right because more people will need what we have.

You can also subscribe to our iTunes for on the go listening:
https://itunes.apple.com/us/podcast/assisted-living-networks-podcast/id1360517721?mt=2


gene

Gene Guarino
Founder/CEO
Residential Assisted Living Academy™

Gene is the President, CEO & Founder of RALAcademy.com. Gene has over 30 years experience in real estate investing and business. Today, Gene is focused on just one thing… investing in the mega-trend of senior assisted housing. He has trained thousands of investors/entrepreneurs throughout the United States how to invest in and operate residential assisted living homes. For over 25 years he has been educating people on the strategies of successful investing, business and self-employment. He now specializes in helping others take advantage of this mega-trend opportunity.

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Rise Up And Take Care Of The Greatest Generation


By Gene Guarino

Should I help take care of the elderly?

I know some of you have been inspired to take care of the elderly or you enjoy doing exactly that, and I want to encourage you to continue to do that. There is a real need for caregivers of all types and that is a looming crisis out there that you can help with right now. There is the opportunity to help, to engage, to be a part of something big and something important. We’re all aging and people are lasting and living longer than ever. The question is, are you going to be a part of the solution that is going to help society or part of those who complain about it and sit back?

seniors-1505938_1280What if I already have a job?

Some of you right now are thinking that you really do like taking care of people but may be busy at another job. If taking care of the elderly is your passion, that’s what you should do. You see, right now there’s a lot of caregivers that are needed to take care of the elderly population, and that crisis is only getting worse because more people need help for longer, but there are fewer caregivers and family members that are willing to do it or are trained properly to do it. So if you are inspired, and you feel the calling, then I encourage you to do exactly that.

Could I just volunteer at an assisted living home?

senior-4549666_1280You can start by volunteering at a home and see if it’s right for you. Read a book, do a puzzle, play cards, sit and talk, play some music, sing along, whatever it is that you can do to be there and interact. Those care homes can use the extra hand and you don’t need to be the caregiver. If you can just be there providing some company, companionship, or a conversation. That alone would be incredibly helpful to those caregivers, and those seniors need it.

Why is this generation called the silent generation?

One of the saddest things In our society today is that more than half of the people polled feel lonely. I think a lot of that is technology. We look at our phones and all of those things that take us away from talking to each other face to face. There’s a lot of seniors who would just love to have somebody stop by and say hello. It really doesn’t take much. It may not even take a conversation as much as just sitting with them. If you’re sitting in your home watching golf over the weekend, why not go sit with them and watch golf providing companionship and then ask them a question, did you ever play golf? What kind of clubs did you use? Before you know it, you’re going to find out about wooden clubs and how they used to play with just three clubs, and that was it, and they played the whole round with three clubs and 1 ball.

You can do this!

Have those conversations. Take that time. The greatest generation, the silent generation, needs your help and you will truly be a part of the solution by simply being “present”. Volunteering your time is one way. Starting a residential assisted living business with an excellent home with excellent care is another. It’s totally up to you, but you can do both.

You can also subscribe to our iTunes for on the go listening:
https://itunes.apple.com/us/podcast/assisted-living-networks-podcast/id1360517721?mt=2


Gene Guarino
Founder/CEO
Residential Assisted Living Academy™

Gene is the President, CEO & Founder of RALAcademy.com. Gene has over 30 years experience in real estate investing and business. Today, Gene is focused on just one thing… investing in the mega-trend of senior assisted housing. He has trained thousands of investors/entrepreneurs throughout the United States how to invest in and operate residential assisted living homes. For over 25 years he has been educating people on the strategies of successful investing, business and self-employment. He now specializes in helping others take advantage of this mega-trend opportunity.

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The Influence of Age and Longevity on Residential Assisted Living


By Gene Guarino

As we age, health and longevity become a prevalent topic. People want to know how to increase their longevity. They want to live longer and live better. How well you age, and your longevity is a projection of your health. There are some genetic factors to consider when talking about your health, but in many cases, it’s based on the choices you make. It’s a reflection of what you do to your body and what you put in.

One of the most important things you can do for your health is to pay attention to the food you eat.

Food is brought into the body then it’s converted to energy. Think of food as fuel for your body. Is it good or is it bad? Is it high octane or is it low octane? It’s important to get the right amount of fuel. If you’re taking in too much, you won’t burn it off and your body stores it instead. If you don’t take in enough, your body won’t have the energy it needs to function properly. A diet of a variety of fresh foods like vegetables, fruits, lean meats and whole grains are delicious and provide our bodies with the vitamins and nutrients it needs. Diets that are high in sugar, fat or salt can seriously impact the health of that individual in a negative way.

salad-2756467_1280You’ll also want to focus on the amount of water you consume daily. Your body’s systems require hydration in order to function properly. Though just about every liquid contains water, like soda or juice, many of these also contain sugars, salts, or other ingredients that can actually dehydrate you.

An active body is a healthy body. Get your body moving and working. Action is imperative to your health and works in conjunction with what you put into your body. Take up an activity like hiking or yoga. Get up so that you aren’t just lying in bed or watching TV. Your activity level has a direct impact on your health and therefore on your longevity. The more active you are, the healthier you are. The healthier you are, the longer you will live.

The third component to health and longevity is social interaction.

elders-401296_1280Humans are social creatures and need to keep company with others, not just being a lone wolf, staying at home sitting in front of the TV or computer. Really interacting with other people, whether its a quiet activity together or something a little more boisterous, can spark life and invigorate you. Increase your health and longevity by getting out there and connecting with people!

When it comes to aging and longevity, good health is the key.

For good health, what you put into your body, your activity level, and your amount of social interaction are all important factors to consider. A diet rich in good foods and drinking plenty of water is just as critical to your well-being as exercising, or being active regularly, and connecting with others.

Be sure to subscribe to our iTunes podcast to listen on the go! [CLICK HERE]


gene

Gene Guarino
Founder/CEO
Residential Assisted Living Academy™

Gene is the President, CEO & Founder of RALAcademy.com. Gene has over 30 years experience in real estate investing and business. Today, Gene is focused on just one thing… investing in the mega-trend of senior assisted housing. He has trained thousands of investors/entrepreneurs throughout the United States how to invest in and operate residential assisted living homes. For over 25 years he has been educating people on the strategies of successful investing, business and self-employment. He now specializes in helping others take advantage of this mega-trend opportunity.

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What Should Assisted Living Look and Feel Like?

By Gene Guarino

What should a Residential Assisted Living home look and feel like?

beautiful-home-1680789_1280When we talk about the look and the feel, it’s a home so it should obviously look like a home. Sometimes people try to take a commercial building and convert it into residential assisted living and it just doesn’t work as well. Mom grew up in a home. It’s got to feel like a home. Part of that is looking like a home. Usually there’s a roof of some kind. There’s a door, there are windows, it looks like a house. There might be landscaping on the outside. It should have driveways where people can pull up and easy to walk on walkways so somebody can get from the car to the front door. When you walk inside, is there a step up? You put a ramp in at that front door so if they have a walker or a wheelchair or just to avoid any trip hazard at all. When you walk in, it’s open, big. That is what a typical RAL home will look and feel like.

What should it smell like?

apple-pie-3723444_1280It should smell like a home. Some people’s homes don’t smell that great, but for a care home, it’s critically important that we make sure that it smells great all the time. We have special air purifying systems inside the home to make sure the air is circulating all the time. The only extra smell I want there is the smell of home cooked food, something that smells good when you walk in.

What should the inside look like?

The colors might be lighter, neutral colors. There should be shades, or curtains on the window to give it a homey feel. The front room has nicer furniture, maybe moldings around the room, so it’s a more upscale look. There’s artwork on the wall, so when you walk in, you feel good.

We want the person in the family that makes decisions to walk through the front door to look and say, “wow, this feels great, I could live here.” Because if she’s thinking that, she’s also thinking, “my mom would be comfortable here and I would be proud to have my mom here.” When they walk through the front door, it’s got to be clean, and smelling good because frankly, if you’re not taking care of the walls and the doors and the floors, they’re expecting you not to be taking care of their mom and dad.

What other little touches should you have?

turntable-1328823_1280As you walk around the home it should be convenient and make sense. The floors are smooth, easy to clean. When you walk into a bathroom there are grab bars by the toilets and the showers, so it’s safe for mom. You’ll want some artwork hanging on the wall, the license for the home, the manager, the code of ethics, and the numbers for them to call in an emergency. They should be hearing either music or maybe even books on tape, music from their generation. Music is such a powerful thing that really just jogs the memory. It brings them right back and all of a sudden their body takes on a remembrance of where they were and what they could do. So it is a home, not home like. It’s an assisted living in a home setting. If you put all of that together, you’ll have a winning combination for a very successful Residential Assisted Living home.

Be sure to subscribe to our iTunes podcast to listen on the go! [CLICK HERE]


gene

Gene Guarino
Founder/CEO
Residential Assisted Living Academy™

Gene is the President, CEO & Founder of RALAcademy.com. Gene has over 30 years experience in real estate investing and business. Today, Gene is focused on just one thing… investing in the mega-trend of senior assisted housing. He has trained thousands of investors/entrepreneurs throughout the United States how to invest in and operate residential assisted living homes. For over 25 years he has been educating people on the strategies of successful investing, business and self-employment. He now specializes in helping others take advantage of this mega-trend opportunity.

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Why Become a Residential Assisted Living Expert?

By Gene Guarino

What will you be an expert at?

You’re going to become an expert at something. The question is what? There’s the saying that it takes 10,000 hours to become an expert. Now when you think about that, at 40 hours a week and 50 weeks in a year, that’s 2000 hours in a year, so if you devote five years of full-time effort to anything, you’ll be an expert. That job that you have that you could be an expert at, whether it be Infusionsoft, marketing online, selling a product, starting a store, or being a chef, the question is what and why. Why do you do what you do? What is it really all about for you?

It’s your choice.

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So, what is it that you’re becoming an expert at? 2000 hours a year is 10,000 hours in five years of your life. You should decide what you’re going to devote yourself to. You could be more efficient and cut that time in half and make it 5,000 hours and get it done in one year by going to somebody else who knows what they’re doing and is willing to show you how so that you can become an expert very quickly. Because it’s not knowing something. It’s doing something with what you know.

Learn from the example set by experts.

Richard Branson has 300 plus companies, but not one office. You see what he focuses on is finding people that have invested their time and have the expertise. He hires them and becomes partners with them. He puts them in a position, gives them the tools and the ability to thrive in that environment. He brings people on and teams with them. He hires them to be the expert so that they tell him what to do.

Always be an expert in communication.

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Communication is one of the things that you need to become an expert in. Maybe you are a really good team player and don’t need to be the front man. As long as the leader is heading in the right direction and you believe where you are going, then stay on that bus.

What are you willing to do today?

Think about how many books or articles on the subject have you read. How many webinars you have watched. Who is it that you’re hanging out with that may be able to help you? Where are you getting your input from? What is it you’re doing today will allow you to be an expert in your field, in your desire or your passion? And then we’re back to the why. What does that mean? What is the reason? What’s the passion? I guarantee you’re going to become an expert at something. The question is, is it productive, Is it profitable, Is it something you have a passion for? Is it with the right people? Why do you do what you do? Just decide what it is you’re going to become an expert in before you move forward.

Be sure to subscribe to our iTunes podcast to listen on the go! [CLICK HERE]


gene

Gene Guarino
Founder/CEO
Residential Assisted Living Academy™

Gene is the President, CEO & Founder of RALAcademy.com. Gene has over 30 years experience in real estate investing and business. Today, Gene is focused on just one thing… investing in the mega-trend of senior assisted housing. He has trained thousands of investors/entrepreneurs throughout the United States how to invest in and operate residential assisted living homes. For over 25 years he has been educating people on the strategies of successful investing, business and self-employment. He now specializes in helping others take advantage of this mega-trend opportunity.

 

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Feeding Residents in Residential Assisted Living

By Gene Guarino

Food, It’s important for all of us. In assisted living, it’s actually the number two activity, if not number one inside an assisted living home. If we feed the residents properly, they’ll be healthier. They’ll live longer, they’ll be better behaved, they’ll be more comfortable, they’ll be a joy to be around. However, if somebody is uncomfortable, with either the food choice, the amount of food, the quality of food…that is so easy to fix.

How much does it cost to feed residents?

The cost of food is not very much at all. The national average per day per person in assisted living is $5 to $7 a day per person. If we’re to take a 12-ounce piece of Filet Mignon, and bring it to the seniors, that would easily feed four of them. Buying that filet at the store might cost $15 a pound. So if you bought $15 a pound and you bring that into the home, that’s about $4 per person for that filet. If you had filet once a week, you’re head and shoulders above every other assisted living home out there.

What do the residents want to eat?

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I always ask the residents when they come in, what’s your favorite? What do you love to have? What haven’t you had in a while? What’s your favorite cake and pie and the rest of it? If they say, I love seafood, shrimp, fish and so on. You can get jumbo shrimp the size of your finger that costs you very, very little and if they ate one, two or three of them, that’s all they need. For them, the high-quality foods served on a special occasion is a real special treat.

Can you hire a chef? What are my options?

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Now, if you really want to go for it and be special, if you really want to have a home that people will wait in line to get into, have a chef, a dedicated person who is culinary trained. Maybe even having a menu on the table. Do cook to order breakfast. How much extra did it cost you? Not much at all. The reality is most of those seniors are going to eat the same exact meal every single day and there’s probably not going to be that wide of a variety, but if there were five things they can choose from. How special would that be? Lunch could be a set lunch, or maybe two choices. You have one simple that’s a staple. It’s soup and sandwiches, and another one to choose from. Maybe it’s chicken salad or it’s some other meal that’s available that you have, and that’s the one meal that’s made. In between breakfast and lunch, they’re making a wonderful meal for dinner. With wonderful smells throughout the house, the seniors are looking forward to it all day long and then that food will be served by the caregivers when it’s dinner time. You could charge a thousand dollars a month more because you have a chef. The chef is a feather in your cap, it’s what will bring people in and they’ll stay with you for it.

Be sure to subscribe to our iTunes podcast to listen on the go! [CLICK HERE]


gene

Gene Guarino
Founder/CEO
Residential Assisted Living Academy™

Gene is the President, CEO & Founder of RALAcademy.com. Gene has over 30 years experience in real estate investing and business. Today, Gene is focused on just one thing… investing in the mega-trend of senior assisted housing. He has trained thousands of investors/entrepreneurs throughout the United States how to invest in and operate residential assisted living homes. For over 25 years he has been educating people on the strategies of successful investing, business and self-employment. He now specializes in helping others take advantage of this mega-trend opportunity.

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The Difference Between Memory Care and Assisted Living

By Gene Guarino

 

Let’s talk about Memory Care versus Assisted Living. Are they the same thing, or are they different? There has long been some confusion regarding the difference between the two of them. So let’s simplify the differences, but first you should know that you have options.

You don’t have to take care of them yourselves.

The ideal situation would be for the kids to take care of mom or dad, or to hire a caregiver to go in to the home daily to provide help with the activities of daily living. But, If that is not an option, don’t feel guilty. Not all of us are comfortable with being the caregiver to our parents, or gifted with the ability to do so. That’s perfectly ok, you have other home care options available.

How do you determine which type of care they need?

Let’s say that mom or dad has been living on their own and taking care of themselves for quite some time. You have noticed that they are starting to need some help with daily activities, bathing, preparing meals, taking medications, grocery shopping, or maybe they are lonely and need some companionship, etc. Assisted living is the way to go here. They will receive the help that they need to get through their daily activities. Plus there is the added benefit of companionship, and activities that are available for them to participate in. The Facility may house 10 to 15 residents and have trained caregivers.

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Now let’s say that mom or dad is displaying some memory lapses. They could be the normal lapses that most of us have, such as forgetting where we put our car keys that are in our hands, or sunglasses that are on our head etc. This happens to a lot of people. Or it could be more severe, like forgetting where they are, and why they are there. They may need the more specialized environment of a Memory Care home. This type of home will typically have fewer residents, generally up to 8 residents, and more required training of the staff according to state regulations, and will be what is called, a lockdown facility. The doors will have either magnetic, or combination code locks to prevent the residents from walking out the door, for their own safety. These locks will be tied to the sprinkler system, fire suppression, smoke detectors, and or the emergency equipment. When any of these emergency systems are activated, the locks will release to allow for staff and residents to get to safety.

Be informed and prepared.

So we talked about several things in regards to Assisted Living versus Memory Care. The three main points are as follows:

  1. The housing concept is slightly different between the two with varying security requirements.
  2. The caregivers have different levels of training according to the level of care needed and state regulations.
  3. The age of the resident moving in tends to be younger, and stay longer in a Memory Care home versus an Assisted Living home.

Be sure to subscribe to our iTunes podcast to listen on the go! [CLICK HERE]


gene

Gene Guarino
Founder/CEO
Residential Assisted Living Academy™

Gene is the President, CEO & Founder of RALAcademy.com. Gene has over 30 years experience in real estate investing and business. Today, Gene is focused on just one thing… investing in the mega-trend of senior assisted housing. He has trained thousands of investors/entrepreneurs throughout the United States how to invest in and operate residential assisted living homes. For over 25 years he has been educating people on the strategies of successful investing, business and self-employment. He now specializes in helping others take advantage of this mega-trend opportunity.