Monthly Expenses & Income Breakdown REVEALED! - Making $10-15K/MONTH In Residential Assisted Living

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[@teemolina2582]

Your videos have gotten so much better! Thanks so much for your information!

[@serg_lupescu]

I appreciate it! Thank you for the support

[@katherine2182]

Thanks for your post.. I am currently a nurse manager thought of being a director but my heart is starting my own, trying to have confidence that I can do this

[@serg_lupescu]

You’re welcome! Thank you for the support. You should definitely follow your heart. You’ve got this! Trust me, it’s going to be hard but well worth it!

[@terriface73]

Hi, what is the the hard part? Is it starting the business?

[@serg_lupescu]

@@terriface73 there’s a lot of things about this business that can be difficult but that’s with anything worth pursuing. Nothing worth having is easy.

[@jos25582]

Appreciate the great content. Really gives a good idea of what expenses to expect

[@serg_lupescu]

Thank you for the support and the kind words!

[@natashajames4239]

Excellent!!!! Gives you an idea of what expenses you're looking at.

[@serg_lupescu]

Of course! Thank you for the comment.

[@wchan625]

for the salaries, how many staff to control this house 24/7? thanks

[@profitableproperties]

Great info, the background music was tasteful, the beeps were obnoxious. Thanks for putting this info out there! Where is your name from?

[@serg_lupescu]

Thank you for the feedback, glad you enjoyed it.

[@profitableproperties]

@@serg_lupescu I have about 150 videos on youtube across 5 channels, and some folks have left amazing comments that have really helped me improve my editing over the years. I'm looking to pivot into the RAL space in Texas based on where I'm seeing the market moving. I really appreciate you sharing your journey so consistently. What you've done to expand your business, brand, and branch out to the educational space is ambitious and impressive.

[@bryangordon9715]

Great content, Serg. Thank you. Quick question and apologize if I missed it. I gather that you’re receiving $11k a month in rent. What is your NOI post RET and insurance? Trying to get a sense of real estate performance (ie gross income and net income / total cost). Thank you.

[@marionwright2773]

I've been watching your videos for awhile. You have provided motivating and informational content. However....I've just never been able to see how the numbers can really work for a 6 - 10 bed. Specifically, I just don't see how anyone would be willing to pay more than $3k for a standard residential facility. Any more than that, they may as well pay for a larger facility with more amenities/support. Also, how long could an average income (during their working lives) resident even continue paying thousands of dollars a month before going through their assets. Perhaps I'll conduct my own research to see what existing RALF's in my area are actually able to charge for their rooms.

[@notanotherseahorse8369]

Depends, some people hate large communites.

[@droidrage7880]

May I ask what are some examples of “outside services”? (It’s in the spreadsheet)

[@thecleaner23]

Question. Does operating an assisted living business while holding a 40 hours w2 job still qualify one for real estate professional tax status?

[@tunatuna276]

Thank you so much

[@serg_lupescu]

You’re welcome!

[@user-qf9sz4il4f]

I’m a brand new subscriber so forgive my ignorance. $3500/month for a manger would be $20/hour? That seems low for a manager running a facility

[@serg_lupescu]

That’s a great point, but most managers are managing more locations therefore they’re time is going to split between those locations and they’re salary is higher from working those locations.

[@theresahayward48]

This really helps. Can I use this diagram for an example with my business plan?

[@serg_lupescu]

Yes you can, currently running a black friday sale for it. You can use code "2023!" at checkout to get the discount. Here is the link,legionassistedlivingacademy.com/p/pro-forma-excel-template-for-an-assisted-living-facility-business

[@Khadari2013]

Hey serg my question is do you have to pay placement agencies every month or just when they give you a resident one time ?

[@serg_lupescu]

It would be a one time payment, which is typically 100% of the Resident’s first month payment to the facility.

[@RALAcademy]

major key, if the fee is 100% of the first month, make sure to adjust the contract and split it to 50% first month and 50% second month! don't want to give away 100% of the profit on the first month! great video Serg!

[@lovezzme27]

How's your staffing? How can you be able to fit the 15k for employees in 10 beds? Can you also do 6 beds staffing?

[@serg_lupescu]

It’s all in the proforma. The staffing is 3 during the days and 1 during the night. Staffing for 6 would be 2 during the days and 1 at night.

[@lovezzme27]

@serglupescu Can I ask for a breakdown of your schedule that will work on 6 beds? $15.00 per hour 7 am to 7 pm = 2 Staff $360 7 pm to 7 am = 1 Staff $180 $540 a day $16,200 a month As of the moment, 5x5 = Gross Income 5 Resident x 5,500.00 27,500.00 Gross Income -16,200.00 Employees -4,000.00 Rental -200 Property Insurance -200.00 Liability Insurance -1000.00 (Food) =5,900.00 -Tax -Payroll Fee -Electricity -Water -Yard Maintenance - Internet and TV -Home Warranty -Garbage -Misc

[@lovezzme27]

@serglupescu Thank you 🙏🏻

[@kennethryan4599]

Didn’t see what she pays the cooking staff

[@serg_lupescu]

That’s usually one of the caregivers who does the cooking.

[@navindradoobay5245]

Great content but sound effects are highly annoying.

[@serg_lupescu]

Appreciate the feedback

[@mjhorner85]

Hello, new subscriber here. My wife is an R/N and I’m retiring from the military in 5 years and going back to school. What degrees do you think would be most beneficial for starting an assisted living facility?

[@serg_lupescu]

Thank you for subscribing! There are no degree’s necessary for starting this type of business. But it does help a lot to have someone with healthcare background which your wife has and it compliments well having your military background.

[@RALAcademy]

biggest helpful thing to have before starting an RAL.... lots of grit!!!! wishing you guys all the best of luck in your care home venture!

[@H1B1-lg4ei]

why is the rent so high?

[@serg_lupescu]

It’s not high for the area. Rents can vary a lot depending on the area, the cost of the RE, etc.

[@antionnettemyers3834]

Hi Serg, do you have any operation in Florida?

[@serg_lupescu]

At the moment I do not.

[@cdimas15]

Pls make video of your food menu in your facility. 😁

[@serg_lupescu]

Sure 😊

[@khoa.ngoc89]

Hey serg, do you have any operations in dallas, tx ?

[@serg_lupescu]

No, I do not.

[@khoa.ngoc89]

@@serg_lupescu I'll contact you through your website

[@louisecraig7101]

Who pays for diapers and medicine

[@serg_lupescu]

Family usually pays, and the insurances cover the medications.