In this episode, Crystal Wilmhoff shares her journey into residential assisted living, covering the business model, real estate challenges, licensing, and funding strategies. Learn how this niche asset class offers a unique opportunity for investors and operators to provide quality senior care while achieving strong financial returns.
Chapters
00:00 Introduction to Residential Assisted Living
00:34 Crystal’s Journey into Assisted Living
04:17 The Unique Approach of Residential Assisted Living
06:58 Designing for Accessibility and Comfort
10:19 Navigating Real Estate Challenges
14:14 Licensing and Compliance in Assisted Living
15:49 Operational Insights and Caregiver Ratios
17:54 Amenities and Activities for Residents
20:35 Managing Operations and Protocols
22:04 Marketing Strategies for Resident Placement
23:54 Long-Term Care Insurance Considerations
25:09 Project Overview: Honeysuckle House RAL
25:28 Building Dreams: The Vision for Assisted Living
26:51 Navigating Development: Partnerships and Costs
30:23 Financing the Future: Securing Loans and Investors
33:31 Construction Timeline: From Groundbreaking to Opening
34:31 Structuring Investments: Friends, Family, and Returns
37:44 Hiring for Care: Finding the Right Team
42:33 Funding Opportunities: The Role of REITs
45:15 Future Plans: Scaling and Expanding the Vision
Resources
Honeysuckle House RAL – https://honeysucklehouseral.com
Crystal Wilmhoff on LinkedIn – https://www.linkedin.com/in/crystalwilmhoff
Doyoucare.com – https://doyoucare.com
Kentucky Senior Care Resources – https://kyseniorcare.ky.gov
https://www.linkedin.com/in/crystal-wilmhoff-mclhousingsolutions/
https://www.facebook.com/crystal.wilmhoff
https://www.facebook.com/HoneysuckleHouseRAL.com
Instagram @honeysucklehouseral.com
Here’s the link to my book: https://www.amazon.com/Value-Over-Foundation-Commercial-Investing/dp/B0DNN14NLQ
Want to learn more about CRE? investbeyondmultifamily.com/course
Use Code for 10% off: tanhtruong
🔋 Support My Channel 🔋
Bitcoin: bc1q2jnv9sn3efhfvc43q5cqe2leev3066cegpyyz5
Sats via Strike: https://strike.me/tanh
Dollars via Paypal: https://www.paypal.com/paypalme/tanht
Dollars via Venmo: https://account.venmo.com/u/tanh-truong
🌍 Website: https://www.wontonwealth.com
✖️ X: http://www.x.com/tanhtruong
📷 IG: http://www.instagram.com/pro_tanh
🤓 LinkedIn: http://www.linkedin.com/in/tanh-truong-30a18ab0/
❗ DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by Wonton Wealth. Written permission must be granted before syndication or rebroadcasting.