Anderson Business Advisors Podcast

Managing A Residential Assisted Living Business

July 24, 2019

As we get older, most of us know we’ll need help and have to give up some control when it’s time to be spoiled and waited on hand-and-foot. Today, Toby Mathis of Anderson Business Advisors talks to Rocky McKay of Peak Care Assisted Living Homes about available options.

Highlights/Topics: 

  • What is residential assisted living (RAL)? Remodeled homes in residential neighborhoods that fit the needs of geriatric residents 
  • Activities of Daily Living (ADLs): Basic physical and mental tasks, including bathing, brushing teeth, laundry, and cooking 
  • Typical Age Group for RAL: 85 to 90 years old
  • Why invest in RAL real estate? Need for good quality, high-end homes to provide great care; and strong margins rival any other real estate investment
  • Typical Monthly Fee: $4,000 to $7,500 private pay per month, per resident for 24/7 assistance/care
  • Three RAL Businesses: Real estate property/home, investor/money person, and operating actual business
  • Biggest RAL Pitfalls: Not understanding operations side and daily involvement required 

Resources

Peak Care Assisted Living Homes

Rocky McKay’s Email

Rocky McKay’s Phone: 1-800-906-1030 Ext. 101

Arizona Assisted Living Homes Association (AALHA)

Toby Mathis

Anderson Advisors

Anderson Advisors Tax and Asset Protection Event

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