TMP Floating Book Reviews – Three Books: “’Investing in Senior Housing”, “BLUEPRINT – How to Start a Residential Assisted Living Business”, and “Empire”

This month we are reviewing three books: 1. “’Investing in Senior Housing by Gene Guarino and Jim Guarino”, 2. “BLUEPRINT – How to Start a Residential Assisted Living Business by Gene Guarino”, and 3. “Empire”.

1. “Investing in Senior Housing” (119 pages, paperback, 2018) by Gene Guarino and Jim Guarino and “Blueprint: How to Start a Residential Assisted Living Business” (116 pages, pdf, 2020) by Gene Guarino. I will discuss these as one book since they are by the same authors on the same subject in roughly the same publishing time. These books are basically informercials for Gene’s “Residential Assisted Living Academy”. If they were not any good, I wouldn’t give them a bad review. I just wouldn’t mention them. I enjoyed these books for two reasons. Gene and his brother Jim have some interesting life stories and the information on running an assisted living facility has valuable financial, organizational, and business insight. You can get the pdf for “free”; just by giving Gene your email address. Then you get a constant stream of solicitation emails. Eventually I will just unsubscribe. But the personal stories in the books are interesting and the information is accurate based on our personal experience with our mother being in an assisted living facility. In fact, we are looking at buying an existing assisted living business. That is one reason I got these books. The business includes the underlying real estate. More on that later.

As I mention in the video, we (Jon, Katie, Michelle, Jim) looked at an assisted living facility for sale in Gilbert. The facility was listed for $1.2M, $800K for the real estate and $400K for the business. We finally passed because none of the four principals could make the commitment to actively manage the business. This facility is exactly in line with the niche that Gene recommends: 10 beds, good neighborhood, private pay at about $4,000 to $4,500 per month per resident.

2. “Empire” ” (567 pages, paperback, 2010) by Steven Saylor: This is the second (middle) book in the three part history of Rome; from founding to the middle days of the empire. I found this book on research about the rise of Christianity during my review of Pastor Jeff’s recommendation, “The Rise of Christianity”. Saylor writes historical fiction. I have read and greatly enjoyed his “Sub Rosa” series of books about a ‘detective’ in Ancient Rome during the transition from Republic to Empire. Again, here he fictionalizes history while remaining true to the known, historical sources. He recounts the history of Rome (mostly the emperors) from the end of Augustus in 14 AD to Marcus Aurelius in 141 AD by inserting the fictional Pinari family in the center of all the action. I am reading the three-book series, out of historical order; last first, then middle, next beginning.