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Gene Guarino: Investing In Residential Assisted Living

Original Content
By Adam Taggart
Wednesday, November 22nd, 2017

Gene Guarino: Investing In Residential Assisted Living

Original Content
By Adam Taggart on
Wednesday, November 22nd, 2017

Whenever possible here at Peak Prosperity, we try to surface actionable models that can make a real difference in the type of future we see coming.

Demographically speaking, the tremendous wave of aging Baby Boomers is an unprecedented event in our country's history. The sheer size of this age cohort, plus the concerningly-high level of financial unpreparedness for many of its members (which we wrote about at length last week in this report), will demand all sorts of new solutions be pioneered to address the needs of a massive number of aging seniors no longer in the workforce.

An emerging model that has caught our attention is residential assisted living — a "halfway" solution between independent living and the nursing home. It offers seniors the ability to live in a shared housing arrangement with a small number (5 to 6) of others, with minor assistance as needed by a dedicated staff. It still feels like "home", just with a few housemates for companionship. The arrangement preserves much more independence versus living in a 'big box' group home, and is more affordable than the $7,000+ per month 'retirement living' developments that are increasingly only for the wealthy.

Gene Guarino, founder of Residential Assisted Living Academy, joins the podcast this week to explain the model to Chris, as well as the ways that investors can get involved in this growing movement. Those with capital interested in "doing well by doing good" can participate in syndicates that own the residences, creating more inventory to expand this model to. The investment returns are attractive, as is being a part of a movement to offer more housing options to the fast-growing ranks of seniors looking to live with dignity.

Take the big box facilities offering 200 to 300 beds. Some are old, some are new. But it sure doesn't feel like home. The average person in the country today is paying $3,628 per person, per month to live in assisted living. Most of them are big box facilities. It's a big, huge place – it could be a prison if you put some barbed wire on the top. You walk through the front door and you just smell the neglect. 

For a senior who wants something less impersonal and overwhelming, but she needs a little help from time to time and so shouldn't live alone anymore, there aren't a lot of great options. Even if they know of a nice place with great care, it's probably full with a waiting list. You'd be surprised how often I hear, "Oh my goodness, I'd be willing to spend up to $7,000 a month, but I can't even get in the front door."

There's so many seniors who need a better solution right now, and the silver tsunami hasn't yet arrived in force yet.

So the model we've created is to take a home in a residential setting, convert it to house around 6 individuals living communally, and offer a much more intimate and friendly form of residential assisted living. 


Click the play button below to listen to Chris' interview with Gene Guarino (39m:39s).

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