Jul 21, 2020
Are you looking for a way to cash-flow huge properties that nobody else wants to buy? Are you looking for long-term solid residual income? Do you want to own a business that is both impactful and profitable? Do you want to get involved in residential assisted living but you don’t know where to start?
In this episode of Passion for Real Estate Investments, Gene Guarino, founder and CEO of the Residential Assisted Living Academy, shares his story from buying his first home at the age of 18 to training thousands of investors throughout the United States. His move into residential assisted living started when his mother became ill and he couldn’t find what he was looking for.
This is when he vowed to create it.
Gene has more than 30 years of experience investing in real estate, and he has been training investors and entrepreneurs for over 25 years. He got into real estate at a younger age, and it soon became a natural way to make a lot of money – in his early 20s, he was earning more than his father who was a college professor. When he first got involved in residential assisted living 7 years ago, there was nobody to teach him or show him how to do it, so he had to figure it out on his own. Today, he shows investors the ropes with immersion-based training.
Do you need a college degree to get involved in real estate investing? What kinds of assets does Gene look for? Do you have to go for variances to have these homes approved? What do you need to keep the residents happy?
Gene tells us about the advantages and disadvantages of investing in residential assisted living, how you can set up your business to minimize risk and deal with challenges, and the expectations versus the reality of getting involved with RAL.
If you’re interested in learning more about residential assisted living, and what to look out for, this episode has the information you need.
Highlights from the Interview
- “You see the A-student working for the B-student, and the C-student owns the building.”
- “Teach me what I need to know as fast as you can.”
- “You can start in this business and make more with no degree than someone with all the degrees and accolades.”
- Gene built up his RAL business by teaching himself.
- Gene couldn’t find what he needed, so he created it.