– Look up featured 5 star rcfe (residential care facilities).
– Create your own facility rather than buy a used one is least expensive.
– Pay people to own property.
– Rate: is your return on a property or the yield.
– Turnkey: means you want to manage the property.
– Property that offers a guarantee of full occupancy usually means that there is a waiting list.
– Caretaker’s license. Involves two weeks of training and teaches you about safety. Orderlies in hospitals using already have this certification.
– Medicine is used in a locked closet.
– Someone is always on site during the day.
– Non-awake. Could be a manager who can sleep, and there’s usually an alarm system throughout the house.
– One care facility has a sensor that monitors when people get out of bed and when they return to bed in 10 minutes. The attendant can check up on them.
– Suggest you have a facility of 3000 ft.² or more
– A full occupancy of five people usually provides $30,000 a month
– safety regulations require that household members need the ability to exit the house within three minutes in case of fire. With residents that have difficulty in moving, then a speaker system needs to be installed for the protection.
– A multilevel home is not usually good to have a secure facility unless you want to use the top level the place that the manager or caretaker can live.
– You want to provide a desirable place to live. Because children want a place where their parent is in a safe, clean property that is comfortable.
– Having a pool can give residents a chance to get Aqua exercise. If you hire someone to provide classes. You can charge $200 extra per resident
– As you consider purchasing a property ask, is this somewhere, your parent would like to live. Upgrade the residents to a better place to live than their past location. Find a place that has a beautiful view, etc.
– if it’s higher quality, can lease
– average cost per resident in care facility is for the 6K a month.
– Most care facilities may have six residents and then one manager.
– Possible costs to manage a care facility
400 K down payment
other costs 6.5 K, which also includes insurance
staffing 7K
they can see 2.5 K
– six times 5K equals 30 K of monthly income
– you submit your menu to the government
– always max expenses to maintain realistic costs
– cost of fun feeding elderly is low because you can buy in bulk and cook in bulk, estimates a couple hundred dollars a month
– you can use your 401(k) to finance it to location.
– You can buy with lease option. You can buy a home at a set price up to a certain price for two years.
– A gated neighborhood gives the perception of security.
– What is the type of house you would want to live in? A 400 K house offers more quality than 300 K house.
– You need at least one bathroom with a walk-in bathroom
– these are good cash cows
Do you have observations to add to the list? Feel free to share them in the comment section of this blog.
