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The Commit to Wealth Podcast - Creating Generational Wealth through Real Estate Investing


Feb 8, 2019

Gene has over 30 years of real estate investing and business experience. He’s the founder of Residential Assisted Living Academy - a top educational platform for owning, operating, and investing in Residential Assisted Living and senior housing. He highly encourages investors to get involved in this mega-trend opportunity.

Topics Covered:

  • Understanding residential living

  • Single family home v. converted hotel or apartment

  • Services offered, 24/7 care, everyday living

  • Be conscious of location and demographics

  • Think about management like a fine-dining restaurant and find the best manager

  • Licensing procedures for different states

  • Protecting yourself legally

  • Dealing with insurance

  • Types of financing

 

Nuggets of Wealth:

  • What's a tool you use every day? Google
  • Best business advice you've ever received? "Do exactly what somebody else is doing" you can copy successful people
  • How do you best manage your time? Hiring qualified people
  • In the next five years where do you see your company? Exploding. We have four companies, education company, investment company, media company, operations company. We want to be involved in 10k of these homes.
  • What's an example of a typical home: Average= 4k per person per month x 10 people=40K a month on an average home. Labor, insurance, rent, etc=70% of gross, meaning the take home is 8-12K a month in profit.
  • How do you want to be remembered? For the kids and grandkids and the great times we had together

Where can Commit to Wealth Nation go to contact you and find out more about you?  Free training: www.ral101.com www.ralacademy.com