Effective 07/01/2024, the California Department of Social Services increased their reimbursement rates to service providers. Rather than making $12,058.7 per resident per month, state law now ensures I will be getting paid $12,245.70 per resident per month. With 4 residents, this will add an additional $8,976, to my revenue, and my expenses have increased ✨$0.00✨. Not bad 😉. Also, our mentees are winning 🚀. Sevan and Kamel have submitted licensing and will be operating within the coming months. Brian and Doug acquired an extremely qualified administrator, a 5 bed home, and are about to submit licensing in less than 1 month from their onboarding call. I’ve completely passed our QA inspection and am now on the hunt for my next two facilities. For those of you on the fence, I wouldn’t wait much longer. For these regional center vendored homes, there isn’t an infinite demand for providers. I’ll have to take my services nationwide pretty soon. Reach out if you’re ready to be on the winning side.

Tomorrow we have our QA Inspection from the San Diego Regional Center. This occurs a year after operations begin for them to deem that you are qualified to expand into additional locations. Module 10 will have everything for you to pass your licensing and Regional Center inspections from what they look for in the physical plant, as well as in the client books and staff files as well.

We’re excited to have you here as you begin your journey to opening an assisted living facility. This community is designed to guide you through every step of the process, ensuring you have the knowledge and support to succeed. Getting Started: Module 1 - Introduction to Assisted Living To start, head over to the **Courses** tab and click on the course titled Module 1: Introduction to Assisted Living. This first module will set a solid foundation for you. Here’s what we’ll cover: - What is Assisted Living? Gain a clear understanding of what an assisted living facility is, what services it provides, and why it’s a rewarding business opportunity. - Populations You Can Serve Explore the various populations your facility can cater to, such as seniors, individuals with disabilities, and those needing specialized care. We’ll also break down the respective subpopulations, service levels, and program designs for each. - Funding Sources & Rates For each subpopulation, we’ll discuss funding sources—whether through government programs, private pay, or insurance—and give you a breakdown of expected rates. Your First Actionable Steps By the end of this module, you’ll be equipped to: - Generate a revenue forecast for your facility. - Use our operational profit and loss tool to plug in numbers and learn what your financials will look like. **Additional Resources: Smartsheet Assisted Living Implementation Timeline** You’ll also gain access to the **Smartsheet Assisted Living Implementation Timeline**, which gives you a step-by-step breakdown of the process to get licensed and vendorized. This resource will help you map out each step with clarity. Next Steps: Ready to Fast-track Your Success? Once you’ve completed this module, confirmed your profit and loss, identified your market, and defined your target population, you’ll be ready to take the next step toward success. If you’re ready to receive personalized guidance through the ALF Launch Mentorship Program, you can book a call with our team using this link: (https://calendly.com/c-spivey-alflaunch/30min). We’re here to fast-track your progress and ensure you hit your goals.

This post is about financing for senior living projects, specifically focusing on the residential Assisted Living (ALF or RAL) model and the business opportunities it presents. More complimentary information can be requested at https://capitalsuccess.us/get-started/ More and more families need caregiving assistance for their aging mother, father, or other family-member. As a profitable service business with an appreciating real estate asset, the small or boutique Residential Assisted Living (ALF) property is a proven, favored model, amidst COVID disruptions, to larger, conventional facilities. Listed below are insights from our experience assisting with the financing of these properties nationwide: • ALF facilities have high occupancy levels, and many have waiting lists. • An ALF has focused staff and higher caregiver-to-resident ratios, further supporting the market appetite for this home-like setting. • There will continue to be an under-supplied market for right-sized, boutique, residential-style assisted living locations for the next two decades. • An ALF operator can scale to multiple properties and locations. Successful Operators build a portfolio of ALFs: multiple locations with resident capacity of 8, 10, 12, 16, 20, 25 beds per new construction site are the trend. Final ALF square footage is determined by site footprint. --- Caregiving Locations as a Business are in High Demand --- • An ALF is a privately-owned property that provides comfortable accommodations with amenities and supportive care from trained caregivers. • ALF care homes provide similar services and amenities as independent living communities and provide supportive care from trained employees to residents who are unable to live independently. • Residents who are unable to live independently experience all-inclusive support with their activities of daily living, including management of medications, bathing, dressing, toileting, ambulating and dining in a restful, home-like setting.