Episode 31 | Best Places for Assisted Living in 2024

In this episode of the Assisted Living Investing Podcast, host Brandon Gustafson shares valuable insights into the top markets for assisted living in 2024. He introduces his market research guide, which is part of his business planning guide course, and provides a detailed overview of how to identify the best locations for starting an assisted living business. Brandon discusses the importance of various market demographics, including median age, income, and housing costs, while also addressing regulatory considerations in different states. Additionally, the episode highlights the advantages of using existing facilities versus converting homes, and offers practical tips for those interested in launching their own assisted living business. This episode is packed with useful information for beginners looking to achieve time and financial freedom through assisted living investing. 00:00 Introduction to the Podcast 00:28 Top Markets for Assisted Living in 2024 00:39 Market Research Guide Sneak Peek 01:04 Host's Background and Experience 01:57 Research Process for Top Markets 06:01 Market Demographics Deep Dive 11:02 Top 10 States for Assisted Living in 2024 14:30 Community Interaction and Q&A 24:56 Challenges in Assisted Living Industry 26:41 Wyoming: A Top Choice for Assisted Living 28:55 Florida: A Popular Market for Assisted Living 32:21 Optimal Size for Assisted Living Facilities 35:10 Missouri: A Growing Market for Assisted Living 36:20 Filling Occupancy and Expansion Plans 39:32 Converting Properties for Assisted Living 43:37 Temporary Residents and Revenue Strategies 45:45 Finding Suitable Properties for Conversion 49:38 Conclusion and Resources   Resources Mentioned: Visit our website, AssistedLivingInvesting.net, for additional resources, including our year-long mastermind program and free underwriting calculator. Get your free business plan checklist today: https://urlgeni.us/alibpc Learn about the Assisted Living Investing Mastermind: assistedlivinginvesting.net/mastermind Apply for the Mastermind today: alimastermind.com/application Learn the five steps to help you start an assisted living business: https://youtube.com/live/dRVCa80SOyM Get the 12 Week Year Book: https://amzn.to/4bAOpQf Who Not How by Benjamin Hardy : https://bit.ly/whonothowbooklink Courses:- Do you need guidance on your journey to launching your assisted living business: https://urlgeni.us/aliala- Do you need help building your business plan: https://urlgeni.us/alibpg FREE Resources:- Business Plan Checklist: https://urlgeni.us/alibpc- Calculator: https://urlgeni.us/alicalc- Lease Agreement Template: https://urlgeni.us/alila- ProfitPath Analysis Tool: https://urlgeni.us/aliprofitpath- Grant Writing Template: https://urlgeni.us/aligrantNeed help with your payroll? Get Gusto: https://gusto.com/i/brandon9590 Follow Us: Subscribe to the podcast for more episodes.Leave a review to help us continue bringing you valuable content. Engage with us on our various platforms for further learning and support.Facebook | LinkedIn | X | Instagram