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Maximizing Revenue and Impact in Assisted Living with Shawn Medlin
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In this episode of The RAL Room Assisted Living Podcast, host Charlie Cameron sits down with Shawn Medlin, founder and CEO of Seasons Assisted Living and Memory Care in North Houston, Texas. Shawn shares his journey from corporate America to building a successful assisted living business, covering his experiences, lessons learned, and strategies for success. Tune in to discover how Shawn scaled his business from a single six-bed facility to three thriving locations, and get his advice on entering this high-demand, high-impact industry.
Key Points:
- Journey to Assisted Living: Shawn shares his transition from tech and pharmaceutical sales to real estate investment, discovering senior housing after seeing a need within his family.
- First Acquisition: Shawn details the purchase of his first six-bed care home, initially cash-flowing $4,000/month, and how he expanded it to a profitable 14-bed facility.
- Scaling and Financing: Tips on financing the first acquisition, working with community banks, and the importance of presenting a strong business plan.
- Lessons Learned: Key takeaways include navigating building codes, choosing the right contractors, and being prepared for unexpected regulatory hurdles.
- The Importance of Staff and Marketing: Shawn emphasizes the value of excellent staff and raving fans in building a reputation and maintaining full occupancy.
- Future Trends: Shawn discusses the growing demand for memory care and his plans for a memory care-focused development on a six-acre property, foreseeing an increase in clustered residential homes for seniors.
- Mindset for Success: Shawn’s advice to new operators includes cultivating a mindset for growth, embracing challenges, and focusing on service to achieve lasting success in the assisted living sector.
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