#324: Senior Living Homes, How to do Senior Living Better, and So Much More! -with Gene Guarino

Gene Guarino is a real estate and senior living expert. Gene is a certified financial planner in the US and Australia as well as a full-time real estate investor with over 30 years of experience in just about every area of real estate including both residential and commercial, with his primary focus today being in the senior living space, or more specifically known as, residential assisted living homes, which is very different than your typical large multi-story senior care facilities you might be familiar with.

Quotes:

"Basically, it will boil down to: if you have a two thousand sq ft house, you could have ten people in it. Ten seniors in it. Now for me, that's not big enough. I want luxury, I want more space. So, our rule of thumb is 300 sq ft of living space per resident."

"No matter what is going on, pay attention to what is important. The people in your life; your spouse, your kids, your friends. Those relationships, that stuff is much more important than any business, real estate, money, any of that."

Highlights:

2:07- Gene talks about his background and what he does now

4:57- Gene gives insight as to what the need is for senior living each year and how we can meet those needs

8:25- Gene talks about how the pandemic has impacted move-ins vs move-outs in senior living

12:42- Gene talks about changes that have and will be made to building design to help diminish the spread of germs

13:58- Gene gives examples of things they consider with the home itself before going through the conversion process

16:07- Gene talks about what the fastest path for this model is

20:03- Gene walks us through a typical transaction

22:36- Gene shares what kind of debt is available in this industry and funding options

32:05- Gene talks about the other spaces that he's involved in

36:45- Gene shares his most challenging deal and what he learned from it

Guest Website:

https://residentialassistedlivingacademy.com/

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