Unlocking Opportunities: 5 Key Insights into Residential Assisted Living

Mike Hambright (00:00.897)
Hey everybody, welcome back to the show. Today we’re gonna be talking about residential assisted living with my good friend, Isabelle Guarino. So Isabel, great to see you.

Isabelle Guarino (00:10.412)
I’m happy to be here. Thanks for having me on the show.

Mike Hambright (00:12.193)
It’s always good to see you. You’re always delightful.

Isabelle Guarino (00:15.15)
Well, I’m excited to talk about my favorite topic, but just catch up with you on all things real estate.

Mike Hambright (00:21.247)
Yeah, honestly, that’s why I’m doing so many podcasts. was like, for me, the podcast is just a way for me to catch up, either make new friends or often I’m mostly interviewing people that I already know or have known for a while, we haven’t talked for a while. And so I use it as a way to catch up with friends and old friends and make new friends. And sometimes we just let people look over our shoulder and listen in on our conversation a little. Yeah.

Isabelle Guarino (00:31.118)
Yeah.

Isabelle Guarino (00:41.454)
That’s the way it should be. So I like it.

Mike Hambright (00:44.383)
Yeah. So we’re going to talk about residential assisted living today. And I’ve known about this for a long time. I was good friends with your father and came to one of your events, like, gosh, pre-COVID. So it’s been a while. I mean, that was probably five or six years ago. And I’ve been fascinated with this topic because as a real estate investor, you know, for somebody that has done a lot of wholesaling and fixing and flipping, and I have some single family rentals, you’re always like,

Isabelle Guarino (01:00.963)
Yeah.

Mike Hambright (01:11.915)
there’s more ways to make money with these houses than the way I’ve been doing it. And so whenever you hear of a way to like either get more in rent or do deals that you normally passed on, cause they didn’t make sense for, you know, one of those three strategies I just mentioned. And just like, I’m always fascinated with other ways to make money with real estate, cause there’s a lot of them. And this one is so unique that some folks listening to it right now might be familiar with it, but I think you’re gonna, even if you are, you’re gonna learn some things. So maybe just take a moment and just kind of introduce yourself. Tell us about you.

and then let’s kind of jump into residential assisted living.

Isabelle Guarino (01:44.556)
Yeah, I think that is one of the biggest temptations. know, when you are in real estate, it’s like, man, how can I make more with this? Like, I’m making money, but I need to maximize it. you know, that is part of the reason we got into this space, but also it was because my grandmother needed assistance and care, and so we had the own need in our family. So that was about, gosh, I think 14 years ago that she needed that care, and so we started looking for an option for her. We were really just unsatisfied with the large commercial facility.

Mike Hambright (01:53.419)
Right.

Isabelle Guarino (02:14.68)
and we wanted something smaller, more unique, and something that gave her that personalized care. So my dad, as you mentioned, he’d been a real estate investor for 30 plus years, and kind of put two and two together and said, let’s knock out two birds with one stone. We can cash flow, she could live for free, we can hold and own this real estate for years to come, and the rest is kind of history. We started training on it maybe 10 years ago, but it’s just been so much fun to be in this space because

It’s kind of like when Uber first got started and everyone was so used to taxis and it was something new to the market and everyone’s a little bit like, wait, what? What is this? And that’s how I feel like this is. really on the precipice of something exciting and new and hopefully the face of assisted living into the future where people no longer choose the big stinky big box, you know, and they do choose something smaller and closer to home. And for real estate investors, they have something to do with the real

that maybe isn’t cash flowing the way it used to and may never again unless they choose a new strategy. So I’m excited all the way around.

Mike Hambright (03:20.405)
Yeah. Yeah. And I think about it too. mean, I hope I’m not in an assisted living facility of any sort anytime soon, but when you realize I’ve had a few family members that are in more of the institutionalized, you know, type big box type facilities. And honestly, whenever I go through there, it’s sad. Like I don’t, it’s just like.

Isabelle Guarino (03:41.313)
It’s sad.

Mike Hambright (03:43.585)
It doesn’t feel, I just have said it before, that’s not how I want to go. And unfortunately, there’s, I know we’ll kind get into the model a little bit here, but if you don’t have a lot of money, that might be the way you have to go because you’re really dealing with, honestly, let’s be honest, a lot of folks don’t have a lot of money. So that might be the way they have to go. But if you have some means and you have the ability to have a little bit of a nicer sendoff, if you will, or you can care for your family members,

parents or whatever and you can do some things for them to make it a little bit nicer. I that’s really what this is. mean the name says it all right residential assisted living. It’s not a big institution. You’re basically retrofitting houses to provide housing for for you know elderly folks or those that need more care can’t care for themselves. I mean why am I explaining this? Why don’t you tell us a little bit more about what residential assisted living is.

Isabelle Guarino (04:37.974)
You’re right on the money. That’s exactly what it is. It’s a home that zoned residential when I say single-family I think that throws people off because they think immediately a three bed two bath, you know 1200 square feet Not necessarily right? It’s usually a larger upscale home in a really nice part of town in a great neighborhood think 300 to 500 square feet per resident and if you’re allowed to have somewhere between 6 and 16 residents in the home This is gonna be a large home, you know

Mike Hambright (04:49.343)
Right. Right.

Isabelle Guarino (05:07.888)
Usually over 3,000 square feet is what we’re looking at. So most of the seniors do want private bedrooms and bathrooms. So that’s another thing. You’re not really gonna find a 10 bed, 10 bath on the market. You’re gonna have to buy something and renovate it to become, or buy land and custom build, or buy an existing RAL. So there’s options on how you can get involved with it. But genuinely, it is a residential home. The neighbors are mom, dad, two kids and a dog. But you are seniors receiving that.

Mike Hambright (05:22.454)
Right.

Isabelle Guarino (05:37.78)
at 24-7 care with caregivers who are there on the day-to-day basis doing the cooking and cleaning and caring and activities and you name it, but the real estate part of it is owning the real estate, operating the business, and really just setting up those systems and that staffing so that you can be more hands-off and kind of passively cash flow in that way.

Mike Hambright (06:00.725)
Yeah, yeah, I wanna jump more into the ways you make money investing in residential. So before we do, let’s talk about kind of the opportunity, if you will. mean, we have a baby boomer population that’s aging. I know your dad always referred to it as the silver tsunami. And I’m sure you still do too. It’s a great phrase, but it’s real, right? And let’s talk about this kind of aging population and I guess the lack of housing that’s available to them as that kind of, as that big wave kind of rolls in.

Isabelle Guarino (06:12.182)
yeah.

Yup.

Isabelle Guarino (06:18.797)
Yes.

Isabelle Guarino (06:28.744)
It’s a huge opportunity because really what we’re looking at is this. We’re currently 1.3 million beds short. And really the silent generation is who’s living in assisted living right now. There’s only 47 million in that generation. The baby boomers, there’s 76 million. And the eldest of the baby boomers isn’t gonna be 85 for another five years. So we’re five years out from almost doubling the amount of seniors who need care and assistance.

were 1.3 million beds short and they’re projecting we’re only building 70,000 beds per year.

We have a make-up crisis on our hands. We can’t build fast enough. There is going to be the cost of care. You talked about that earlier, like who’s gonna be able to afford this. It’s already gone up 87 % over the last 20 years. And if the supply and demand continues in this regard that we’re talking about, it’s only gonna skyrocket. There’s not enough room in the end, right? There’s not gonna be enough beds for everyone, so you’re gonna have to look for alternative solutions because

Mike Hambright (07:26.145)
Right.

Isabelle Guarino (07:34.612)
it’s going to be a pay to play. Whoever can afford can have a bed and everyone else is going to be tough luck. This is the biggest opportunity. It’s like having a crystal ball in 2008.

We would have all played differently. Or if you’re too young for that, you know, a crystal ball in 2020, we would have all played differently. That’s what this is. It is a crystal ball. We can see what’s coming. We know what’s ahead. The numbers aren’t gonna lie. The boomers have been driving our economy for the last 70 plus years. What makes us think they’re gonna stop over the next 30? Like they’re not, right? It’s the way the world works. It’s just following the money. That’s all this is.

Mike Hambright (08:06.401)
All right. Yeah.

Mike Hambright (08:12.193)
Yep, and let’s talk about like who is that person? It’s basically the person that can’t care for themselves anymore. And it’s variations of that, right? It doesn’t mean you need tons of help, but I know there was a point where my grandmother just, she kept falling down, she broke her leg one time, and like she just hit her head on a bathtub because she fell on the bathtub. Just like people that just can’t really care for themselves, but they can still do, there’s variations, right? Of like they need a little bit of help to they need a lot of help, right?

Isabelle Guarino (08:39.734)
Yes, you know typically a senior moves into assisted living because they need help with three to five ADLs activities of daily living which is like everything we do from the moment we get up out of bed to the moment we go to bed so brushing our hair brushing our teeth bathing toileting eating taking medication so that’s exactly it just like you’re saying hey you know your loved one they needed this assistance because they needed help maybe getting up and walking and moving around trip hazards were more dangerous at this point in life and it’s just no

longer safe for them to live at home alone. It is not golden girls, right? For mature women who just need minor help with changing a light bulb or landscaping, right? That’s not what this is. They need assistance. They cannot live alone safely. And unfortunately, 70 % of us are going to need daily care for an average of three and a half years. It’s really not something we can escape. And as much as many of us say like, I don’t want to go into assisted living. Could it be

me like I’d never, you know, it’s actually, if you change your mindset around it, it’s a blessing to be able to live that long that you need assistance and care. Many people won’t even make it that long. And if you do, are you probably will need that assistance and care. So you may as well set yourself up by getting yourself a home that you cashflow on now and you can go into later and know you’ll be taken care of just the way that you want to be.

Mike Hambright (09:48.715)
Yeah.

Mike Hambright (10:03.637)
Yeah, that’s one of the things that I thought about. was like, wow, could we buy something that is an investment for us now, but eventually it’s something that we utilize ourselves. I’d be like, you me, I’ve got masterminds and Inner Circle. I’ve got to make it a private club. I’m to be running a mastermind in my 90s with the people that I want to play bridge with or whatever. Yeah. So, I mean, I guess an option for people is to stay in their own home.

Isabelle Guarino (10:13.707)
Absolutely.

Isabelle Guarino (10:23.168)
I love it. I love it. You should absolutely do that.

Mike Hambright (10:32.543)
and get care, right? But that’s probably the most expensive option is if you had to have care. mean, one of the benefits of this is if you said there’s…

Isabelle Guarino (10:32.757)
No.

We’re sure.

Mike Hambright (10:39.253)
five to 10 or 15 even people in one of these homes. I’ve been to your houses though, by the way, they’re those that have never seen this. This is really, these are like luxury houses. They’re usually ranch style and you’re kind of building on in the backyard. You don’t generally need huge backyards because these folks are inside most of the time, right? But you just find ways to, you know, either convert the garage or you find spaces or turn huge bedrooms, maybe into two bedrooms and you know, and that’s kind of how you get more people into a house, right?

Isabelle Guarino (10:43.757)
Yeah.

Mike Hambright (11:09.217)
But let’s talk about, I guess, the affordability of this, which I know this is not cheap, but the cheapest is going to an institution and let the kind of quote, government take care of you, which if you want the government to take care of you, mean, you’re probably not watching this show right now. And then there’s the, I’m super wealthy and I can have people just come to my house and just care for me only. But this is kind of like fractionalized care really, right?

Isabelle Guarino (11:32.79)
Yes, it is that in between because right now, Medicare, Medicaid, depending on your state, right, is paying out about $2,000 a head. So that can barely afford food and rent these days, let alone paying someone to care for you. So the quality of care in those government-funded homes or facilities.

It is what $2,000 a month is gonna get you. It’s not good. It’s rice, beans, hot dogs, and crappy care, if we’re being honest. And the other end of the spectrum, if you are wealthy enough to say, hey, I’m gonna have a caregiver come and live with me or come in and treat me 24-7, if that’s the assistance you need, average cost right now is $33 an hour. So if you need 24 hours a day times 30 days a month, that’s almost 24K.

just for care, not your mortgage, food, activities. So it’s gonna cost you more than $25,000 a month just to stay at home with that one-on-one care. Assisted living average costs in our country right now today is just below $5,500 every month. Now, some listeners I’m sure have loved ones in assisted living and they’re like, what? That is so cheap. And it’s because of what I just said.

It includes those on government funding as well as those in private pay and it’s bringing us to a middle number right there. So we focus only on private pay residential assisted living. We’re seeing rates probably, I’m gonna say most of our students and most of our homes are in that 7,000 plus range, but.

Mike Hambright (12:56.971)
Okay.

Isabelle Guarino (13:10.592)
If you need memory care, that costs more. If you’re a two person assist, you you’re overweight or something of that nature, that’s gonna cost more. If you’re taking a ton of medications, that’ll cost more. There’s so many factors involved, but we’re really seeing, you know, average in that mid fives and unless you’re gonna be relying on government funding, that is the best option.

Mike Hambright (13:33.953)
Yeah, yeah. And one of the things that, so I came to, you guys have a three day event that you put on periodically. And I came to that five or six years ago, I think, roughly, and learned a lot of things. I mean, I’ve been in the real estate space for a long time. I knew you and your dad, but there were some eye opening things that was new to me. And one was the idea of,

Isabelle Guarino (13:44.471)
Yeah.

Mike Hambright (13:55.457)
It’s often the person that you’re dealing with as the investor, is often the children of the parent, not the, you’re not dealing with 85 year olds, you’re dealing with their 50 year old kids that are trying to take care of their parents, right? That was one of the, mean, it’s intuitive as I say it right now, but I hadn’t put that together yet. And so that’s, so not only are you dealing with the children of the parents usually, right, is that the children to make an effort to make it easier to themselves are usually trying to find a residential assisted living place near where they live, not where the parent lives.

Isabelle Guarino (14:06.904)
Yep.

Mike Hambright (14:25.411)
especially if it’s in some other market because you want them to be close enough to where you can stop by and check on them periodically and see them and not have to jump on a plane, right? So those are, let’s kind of start there. That’s the first, I don’t want come back to the business model later, but the epiphany was that this is a convenience thing for the kids because, you know, let’s be frank, we all want the best for our parents, but it is a burden on the children, quote, 50 year old children as well,

Isabelle Guarino (14:50.126)
Yes, absolutely. You’re right on the money. When it comes to location and where you want this home located, you really want to be in an area where the majority population is 50 to 70 years old, making two times the median income homeowners and college grads because that’s exactly it. They are the adult children who can afford to put mom or dad in your home and they don’t want to drive 45 minutes down the road because, you know, it’s cheaper. They want it five minutes on their way home from work because of convenience.

So targeting them is key when it comes to location and then the second part of it is the marketing You know 90 % of us don’t want to go into assisted living if we if we had to raise our hands say who wants this for their future Most people want it right they’re gonna say no, I’ll do everything I can to not Amazing. Okay, but 70 % will need it So you’re basically if you’re gonna need it, then if I’m marketing to you and you don’t want it

then I’m wasting every single dollar that I spend marketing to a senior. So when it comes to marketing, you have to talk to the adult child. That’s who’s making those financial decisions. It’s a location decision and it’s a marketing decision. You gotta speak their language, you gotta talk to the emotions, you’ve gotta get them through your door, them convinced that this is the right choice, not the senior. Every dollar spent on them is a waste, because they don’t wanna come.

Mike Hambright (16:15.265)
Right, right.

So let’s talk about the business model. So one of the things that was an eye-opener for me when I came to the training was, because I’m a real estate guy, so I’m thinking about the real estate and yeah, somebody’s running a business, somebody’s running a business there, but I’m thinking I’m gonna just rent to a residential assisted living operator. One of the epiphanies for me when I got there, there’s nothing wrong with being on the real estate side, I mean that’s mostly what I’ve done. But the eye-opener for me was the person that makes most of the money is the operator. Now if you really wanna be passive, you should just be the real estate side. But there really are two sides of this.

real estate side and then there’s the running the operations of the residential assisted living business right.

Isabelle Guarino (16:52.564)
Yeah, yeah, we always say there’s kind of those two ways to get involved. So if you just want to own the real estate and we have friends in common who do this, I’ll have to talk about that with you after. But, you know, basically you’ll buy a home, you’ll fully renovate it, get it ready to go for assisted living. So you’re adding more bedrooms and bathrooms, sprinklers, elevators, know, ramps and guardrails, handrails, whatever’s needed to get it up to code, up to speed, getting the home pretty much licensed or ready to go to be licensed.

then you’re gonna lease it out to someone who’s gonna run this business in the home. They’re not signing a one or even two year contract, they’re signing a five to 10 year contract because they don’t wanna be kicked out. They wanna plant roots and establish a brand and reputation. So not only are you getting maybe twice the fair market rent because of the renovations you’ve done to the home to get it ready to go for this, but they’re also a long term, you know.

tenant for you and little or no maintenance, know, depending on this. I always say like, you’re not getting punches in the wall. You’re not getting pit bulls bred in the living room. We’ve all heard the horror stories or experienced them.

Mike Hambright (18:02.433)
There’s not 10 pit bulls in the kitchen. Yeah.

Isabelle Guarino (18:05.068)
No, no, no, no. It’s being kept, pristine and clean at all times because they’re touring new residents through and you have 24-7 awake staff and your staff who’s awake at night, they’re cleaning during the night. So it’s beautiful for the real estate side of it, but if you also wanna be the operator where you’re still hiring out the day-to-day roles, I haven’t visited my home and maybe.

six months, like there’s no reason for me to go because I have Zoom meetings where I chat with my administrator. She calls me if she needs me. I don’t need to be there. I can’t fill a shift as a caregiver. I’m not licensed to do that. And that’s kind of the angle we show you how to do it, how to do it more passively, but it all comes down to hiring and systems. So you’re in control of that business. And if you do both of those, you’re right. That is how you can cashflow even more.

Mike Hambright (18:55.897)
And we could talk about this probably all day, but the operations side of the business is ultimately, well, talk a little bit about like the, I guess, let’s get into the regulations a little bit. I know it differs by state, you really can have more, I mean, they don’t even necessarily need to be a nurse, right? I mean, they can be like a nurse, I don’t know what they call them, CNA, like a nurse’s helper. Like there’s other things, I’m sure it’s different in every state, but the operations are really not as complex. I mean,

Isabelle Guarino (19:16.184)
See you

Mike Hambright (19:24.501)
It’s a complex business, you don’t have to bring in super high level people to run this thing for the most part, right?

Isabelle Guarino (19:31.63)
Correct, you’re hiring a licensed administrator who might be an LPN or a CNA, so you’re not paying a full nurse’s salary at all. The licensed administrator is kind of like your property manager in the real estate world. So they’re running all your day to day, you’re hiring, firing, scheduling, onboarding, all of that. They’re also doing marketing and tours for you and welcoming new residents. They kind of manage really everything that’s happening within the home and they hire those licensed caregivers who do the day to

Mike Hambright (19:44.15)
Right.

Isabelle Guarino (20:01.674)
work with the seniors. the caring, the cooking, cleaning, laundry, etc., etc. So you as the owner-operator, all you’re really doing is managing that administrator who’s managing them. And it’s a system, you know, and it works itself down. So that’s why you don’t have to be in the home because…

When people, when I say it’s passive, everyone’s like, this isn’t passive, it’s so hands on. Yeah, it’s hands on for someone, not for me, like, because that’s how I built it. Now, if you want to go work in the home every day and do that, do you, right? But we show you how to do it the most hands off so that you don’t have to do that. You’re not building yourself a job.

Mike Hambright (20:26.273)
Right.

Mike Hambright (20:39.809)
That’s great. Yeah. And let’s talk about, mean, I know that some markets are better than others. Some states are probably have more regulation than others or limitations and things like that. what are kind of some of the, I guess some of the best areas to do this in and then let’s come back to the worst.

Isabelle Guarino (20:45.294)
Yeah.

Isabelle Guarino (20:56.396)
You know.

People always ask this and I think it’s so funny because I’m like, hey, raise your hand if you’re getting older or know someone who is right. Like we’re all aging and we’ll need this care. And if you grew up in Boston your whole life, you’re not moving to Florida just because you turn 90 and you need care. You’re probably staying in Boston. You might move when you’re 60 or 65 because you want that change in that retirement, but not once you’re 90. So there’s opportunity everywhere, everywhere. But what I will say is nothing

easy but easier states to do this are states where the the groundwork is already laid. There’s already thousands of these homes. So your Florida’s, your Texas, your Arizona, your Ohio, your Georgia, your Wisconsin, Maryland, all those states have tons of these care homes and so it’s a lot easier to just follow the rules and get it done.

But I will say the most opportunity I believe is in the Northeast. So our students are the first students to open homes in Connecticut, Delaware, New Hampshire, and Rhode Island. The first smaller care homes. They had big boxes, no small care homes.

their homes are full with waiting lists. People are basically saying, I’ll pay more than him if you let me in. They’re begging to come in. There is so much opportunity in the Northeast and people want to avoid it because of regulations. But if you’re willing to jump through those hoops, it is like open field out there. So I love that for those people who are willing to put in the.

Mike Hambright (22:23.819)
Yeah, yeah, that’s awesome. A lot of times people think, you know, I mean I live in Texas, it’s a great state for sure, but you know there could be a lot more competition here, a lot more opportunity, but if you’re willing to do, I always say this like, be willing to do hard things, because a lot of people are lazy and they don’t want to, so yeah, if you’re willing to go crack the code on that, you’re gonna have less competition, so do your hard first and then things will get easier, right?

Isabelle Guarino (22:50.926)
100%.

Mike Hambright (22:52.053)
That’s interesting, yeah. And there’s a ton of people that live there and just don’t want to leave, right? I mean, you can say that about anywhere. You can say that about the middle of Iowa, probably, right? Yeah.

Isabelle Guarino (23:00.486)
Exactly. We need them everywhere. So don’t think like, no one wants to live in the cold. Like if they always live there, they’re going to keep living there.

Mike Hambright (23:08.961)
Yeah, yeah. So how about this opportunity is everywhere. Are there, I don’t want to say like states to avoid or whatever, but is it typically as simple as like business friendly states, which just tend to be more red states, honestly, and some of the states that are known for more regulation and more bureaucracy and stuff like that. I mean, if you know what those states are, is it as simple as like those are the states that it’s easier or harder in?

Isabelle Guarino (23:31.788)
I would, yes, I would avoid states where business, they’re not as friendly to business. I would avoid states that are.

they’re just more strict on that. But more specifically, I would avoid all cities. Like you don’t wanna be in New York City, in downtown Los Angeles. So you could be in California, but we’re not gonna be there. location wise, we wanna avoid those low end areas, major cities, and then non-business friendly states for sure. Those would be my three like tips for what to avoid.

Mike Hambright (24:05.537)
remind us, because there’s a bunch of us listening right now, is this falls under… let’s talk about little bit like HOAs and cities and stuff like that. I know there’s some rules, but for the most part, that they can’t discriminate against you just popping one of these up in, I don’t want to say anywhere, but it’s a little bit easier because it’s really just, I mean…

I’m not going to be able to explain this very well, which is why I’m asking you. So I know that it’s a little bit easier than what most people would think to just pop these in a neighborhood because it is residential living. It’s not a commercial business. Am I saying that right or?

Isabelle Guarino (24:44.428)
You are, and because of the Federal Fair Housing Act, we are a protected class. So no state, city, county, angry neighbor or HOA can say no, and they can’t not allow you to do this and they can’t kick you out once you’re doing it, which is a beautiful thing when we compare ourselves to like an Airbnb where cities are just coming, laying down rules and screwing Airbnb owners, like that sucks. This is a federal law that will trump anyone. Now that all to be said,

It does not mean that an angry neighbor or an HOA can’t try to tell you no. They can still try. But you have the legal backing and power of the Arial National Association who will fight for you and basically use that federal law to say, sorry, you can’t, good luck. And it’s an amazing thing to be protected in that way.

Mike Hambright (25:36.673)
Yeah, when I visited your houses, we went to I think three different houses, what was interesting to me is…

you wouldn’t know it from the street generally. You pull up and it just looks like a normal house. And it’s interesting, there’s a lot of people living there, but let’s face it, none of them have cars. so, and none of them are really leaving very often, right? And so you have some visitors that are coming, like family members that are coming every once in a while, but it’s not like there’s loud music going on or, know, it’s a fairly quiet neighbor ultimately. In fact, people listen to this right now, might have one right next door and you didn’t even know it.

Isabelle Guarino (25:53.325)
No.

Isabelle Guarino (26:06.702)
100 % people don’t realize that we even are here because you’ve probably driven by a thousand times and not recognized it because there’s no big sign. And just like you’re saying, I think we’re good neighbors. A lot of seniors, if you ever do visit a home, they love looking out the window and seeing what’s going on in the neighborhood. We are neighborhood watch. You wanna see what’s going on, we are the Nest camera. We got it all. we had, yes, yes, but at least we saw something.

Mike Hambright (26:27.296)
There you go.

Mike Hambright (26:31.349)
Yeah, except for the muscle maybe. You’re going to see it but not necessarily enforce it.

Isabelle Guarino (26:38.094)
Yes, I always joke to him like you’re out of town. You need your trash cans brought in, brought out like hey, we literally have 24 seven awake staff. We can help with stuff like that. So I think we’re a good neighbor and we are a quiet neighbor. And like you’re saying, it’s a couple cars coming and going caregivers activities, family, but it’s

My neighbor’s got five or six kids and he’s got 10 cars parked outside. It’s like these days big families, it’s like living next to a big family. His is a lot worse than my care home, so.

Mike Hambright (27:10.507)
Yep, yep, awesome. Well, Isabelle, I know one of the things that you guys do is you show others how to do this as well, which is why I came to one of your events. I was fascinated with it. So how do folks learn more about residential assisted living?

Isabelle Guarino (27:15.821)
Yeah.

Isabelle Guarino (27:22.454)
Yeah, you know, we host those events still every like six to eight weeks here in Phoenix, Arizona. So if you want to take that next step or even just dive in for free and start learning, check out ral101.com where you can download a free webinar, free book. You can schedule a call with me or the team or get signed up to come on out to Phoenix and learn step-by-step how to do this. I’m impressed with how much you retained Mike. This is good.

Mike Hambright (27:47.403)
I’ve got a sponge up here that somehow I can draw on memory. So anyway, it’s fascinating. And I’ve always appreciated you and your family for sure.

Isabelle Guarino (27:58.584)
Thanks for having me on, it was good to chat.

Mike Hambright (28:00.425)
Yeah, so guys check out ral101.com. We’ll add a link down here in the show notes to learn more about it if it makes sense for you. Even if you’re not, mostly people listening to this are professional real estate investors, but even if you are not doing this and you’re like, you know what, maybe I should start to do this and plan for my parents and myself and all that stuff, that could be one of the best investments is just investing now in something that could be paying you that you don’t have to pay down the road. You’re just being subsidized. It’s like having a roommate. It’s like having a bunch of roommates, right? Yeah.

Isabelle Guarino (28:26.574)
There you go.

Mike Hambright (28:29.427)
Awesome. Well, Isabelle, thanks so much for joining us today. Appreciate it, and everybody, hope you got some good value today. There’s good stuff here. Lots of ways to make money in real estate, and this is a fascinating one, and the opportunity’s not going away because of the silver tsunami. So, appreciate you guys a bunch. We’ll see you on the next show.

Isabelle Guarino (28:33.048)
Thanks for having me on.

Mike Hambright (28:49.491)
Awesome, good stuff. What can I do for you?

Isabelle Guarino (28:51.288)
Good job.