How Peigh makes $40k per month from one assisted living facility

[@maryczintos6288]

Thanks for the video. Hi Pheigh I am touched by you passion in caring for the seniors. You story inspired me to get into this business. I have been looking into how to start my first RCFE in socal. I am a Nurse as well. I wonder if I could connect with you to get tips and advice of how to go forward. I need a mentor to take my hand to walk me thru the beginning of it. Thank again Mary

[@raisingstandard]

How do find that demographics? Also how do you find high earners areas?

[@mzsunnyshine007]

Thank you for sharing this information

[@JoshuaBaldovino]

You bet!

[@RochelleParker-Mckenzie]

That’s about right… payroll is typically 1/2 of gross

[@rebeccalagundino2056]

How Peigh so glad to hear your story. I had an assisted living in Virginia 2O years ago. We moved here in Florida. I am very interested in starting one here but my hubbby got sick,nursed him and now we’ll . I want to move on but a bit low on funds . By the way what state are you located , if I may ask.

[@JoshuaBaldovino]

She's in CA

[@NCAPublishing-dm4wb]

How are people financing the purchase? Different if purchasing real estate with the biz? Is there much room for negotiations on these?

[@WEG906]

No room for negotiation. Plus you have to have cash to renovate the house

[@NCAPublishing-dm4wb]

Thank you

[@jamesdempsey5702]

@@WEG906 you can get investor loans that have the rehab included. We are finishing one up now in Metro Atlanta. Then you refinance out of the hard money loan

[@LL-eb7bn]

At about 13:00 I think she may have misunderstood his question. Because she is a nurse she doesn't have to hire a nurse. Yes anyone can open an assisted living residence, but you do have to have an RN on staff to take orders from their doctors and to chart for the residence.

[@bluetech7128]

No this is not true. You don’t need a nurse.

[@UncleSarkis]

If you make it a requirement to hire nurses at a residential care facility and expect prices to double and price out most people who can barely afford what it is now. It's funny how people say it's mind-boggling, without any knowledge and the effects.

[@myt1soo320]

dude... you need to prepare better questions. We don't need "fun" questions, we need numbers and real details. You should've asked her what her operating costs were and had it broken down in detail.

[@JoshuaBaldovino]

Part two? Let me know what other questions you have

[@myt1soo320]

@@JoshuaBaldovino hi Joshua, thanks for asking, here’s some questions that will help your readers: 1) how many staff she requires per 10 tenants, their positions and salary 2) her miscellaneous revenues like parking, cable/wifi, special services, etc 3) excluding the house and business startup costs and what’s needed 4) monthly operating expenses like insurance, food costs per tenant (did she hire a chef?), utilities per tenant or just common areas, advertising/marketing 5) how does she attract tenants… how long did it take for her to get 1/2 full and become fully tenanted 6) other miscellaneous monthly expenses & startup costs that she didn’t expect 7) has she refinanced her property after the renovations? (Was the ARV equal or close to her comparables?) 8) did she furnish the rooms or are they empty so the tenants can bring their own furniture? 9) best way to attract tenants 10) vacancy rates 11) what “extra” services does she provide? 12) types of activities she provides or what do her tenants want most. 13) what are the most important things that potential tenants look for? 14) how does she manage shifts for her staff? 15) how much did it cost for her to renovate her home and what Reno’s did she make? 16) staffing has administrator/personal care assistant/house keeping/ coordinator/chef? And how many of each? Are there more staff? 17) any special equipment for elderly care? 18) any special requirements for the bathrooms?

[@JoAnnaPriestIsGreat]

$40k Gross Rents means nothing if staffing is $41k/month.

[@JoshuaBaldovino]

She said overhead about 50% of gross

[@Kristrea]

She never said that. That doesn’t even make sense. She said half!

[@nancasa1]

I thought the same thing. That is the money she is taking in from the residents. Most likely private pay. What is her net after payroll and other expenses are paid?

[@marilynellison3590]

Normally, her take home would be 10 - 15k if she full occupancy

[@Roxyismyfavoritedog]

Yup you’re correct! 😂

[@hilary3397]

I'm looking at starting, but I really don't know the ropes

[@frankfromupstateny3796]

There's no altruism...its all about the pay. These places beat large corporate RN homes. Ad an RN who's bern a Supervisor...I spent 95% of my time...getting people to cover shifts...coveting 20-30 patients a shift at $22/hour. Uttet nonsense.

[@K5757-d9q]

So she opened an assisted living facility specifically for wealthy people... Got it.. Her altruism went out the window on that one.

[@SarahArtist82]

It’s okay for empaths to make money. How else would kind people be able to impact people’s lives? Would you rather have someone else run this residence? Also she is not making much if you listen to the full interview. I think 10 years of being a hospice nurse shows where her heart is. ❤

[@ShennaWerner]

How are you mad at that? Life revolves on money. You lack it, your quality of living is horrible. Nurses, let alone business owners have bills to pay.

[@seattlerain101]

She likely nets about what she would make as a nurse. The money is in the real estate, not in operations.