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The LFG Show
Recession-Proof Your Future | Boris & Amanda on Senior Living Success 🏘️📈
🔥 NEW LFG EPISODE ALERT! 🔥
We pulled up to The Latin Convention in Houston, Texas and linked with Boris & Amanda Palomino, the power couple behind Palomino Senior Living Academy! These two broke free from the 9-to-5 trap and built a thriving business in senior living investing—and now they’re handing you the blueprint! 📈💰
💡 Why senior living? The baby boomer wave is here, and the demand for quality senior housing is skyrocketing. Boris & Amanda break down how to get in the game—without needing millions in capital—and turn this exploding market into your next big wealth move.
🔥 This isn’t just business—it’s IMPACT. 🔥 We also dive into the visiting nurse industry, where caregivers are changing lives daily. From heartwarming stories to real insights on building a recession-proof empire, this episode is pure gold.
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Timestamps:
0:00 Residential Senior Living Business Model
13:36 Senior Care Industry Growth and Impact
What we do is in a home. We've been running these homes for nine years. I have a lot of students in our coaching program that used to do Airbnb and it's not as profitable anymore. My business is recession-proof During 2020, we made it through not having to close doors, not having to lay off staff. It's an incredible business model. And then, on top of that, we're real estate investors too, so not only do we own the properties that we run our facilities out of, but we also lease properties, so it's so easy to get into. A lot of people think you need a lot of cash out to get into this industry. You really don't.
Speaker 2:What was your kind of like aha moment? Like I want to get into this.
Speaker 3:We were working your typical nine to five and we sacrificed a 2,500 square foot home for a 300 square foot ADU in the back. To start this, you got to make sacrifices and that's where we got into the senior living industry and we just fell in love with it and the rest. If you go into a business not for the money but because your heart is in it and you really truly enjoy what you're doing, which we're servicing and changing lives, the money will follow will follow To top athletic and celebrity doctors.
Speaker 2:We've got it all covered.
Speaker 2:We're talking to guys who've cashed in for billions with a B and the best thing is we're just getting started. So hold on tight. We're about to crank it up a notch. Get ready for next level networking and masterminds within the LFG community. Scare money, don't make no money or honey. Hit the subscribe button, drop a like, leave a comment and let's fucking go. I love GFam. You know that I'm always looking for the next big thing, the next big trend, and I'm super excited because I'm at the Latin convention right now and I didn't expect this. But I'm here with Boris and Amanda of Boris and Amanda Palomino. Palomino Senior Living Academy, correct? And guys, we're talking about the senior space A lot of you guys doing Medicare. Every day, 10,000 people turn 65. You guys are pushing Medicare. Lease, check this out. They got senior living academies they're talking about. They can show you how to make money on that. Let's talk about that for a bit. Let's talk about how you got into it. Let's talk about your background and how much money we can make doing this.
Speaker 3:Absolutely. Thank you for having us. We appreciate this opportunity. We've been in business for nine years. We're based out of California. Our company is Palomino care and just recently we were asked. Somebody found us on Instagram and they asked us can we, can you help us open a home? And we said, why not? With nine years of experience, we've made all the mistakes that you can think of, and so if we put a coaching program together in this thriving industry, that is underserved and there's just a massive opportunity. Nationwide, we're talking about 1.5 million seniors that need quality housing and there's not enough of it. Keep this in mind Baby boomers don't come into the age of care till 2030. A lot of them are going to turn 65 in 2030. We have six years and this is a massive problem that we have right now and we're going to help a lot of people. If you're interested how to open up your home, how to run your home it's from A to Z, complete package on how you can open up your home, run it, hiring, training, you name it. It's there.
Speaker 1:So here's a little bit about what it is that we do. It's residential senior living. Oftentimes you think of assisted living. It's a large facility, almost like a hospital setting. What we do is in a home. In fact, our neighbors don't even know we exist unless we tell them. We've been running these homes for nine years. I have a lot of students in our coaching program that used to do Airbnb and it's not as profitable anymore. My business is recession proof During 2020, we made it through not having to close doors, not having to lay off staff. It's an incredible business model. It really is. And then, on top of that, we're real estate investors too, so not only do we own the properties that we run our facilities out of, we also lease properties, so it's so easy to get into. A lot of people think you need a lot of cash out to get into this industry. You really don't.
Speaker 2:There is a new endeavor called Roofs in the Box. It's just man from day one. It's taken off.
Speaker 4:When I first started getting into the roofing industry, what was happening was my fixed costs were always there, and so for me, I was looking at how can we kind of one save on these costs, and then can we kind of one save on these costs, and then two, how do I not lay people off during down times?
Speaker 4:And but also maybe even the ability to pocket more money during the slow season or even the peak season. Since we've done this before, like with our lead gen companies where we have virtual staffing, and from Argentina or Columbia, I'm like, why don't we do the same thing in the construction business? Now, once we figured it out, we reduced their fixed costs by 70%, but during the uptime they pocket. 70% of their operational costs are now going back in their pocket, and then, when it's time to scale, you have the back end prepared, already ready to go to help them lift off. Depending on what state you're in, you're averaging about 12.5% on what you pay out on taxes, insurance, fica, all the different insurances that you have to pay out, right? So, yeah, you don't have to pay out unemployment, you don't have to pay out FICA, insurance, medicare, social Security, the things that business owners have to eat.
Speaker 4:Roofs-to-box is not just limited to roofing or home improvement companies. You can use it for any services, right? You can use it for IT. We use them internally for data cells, for hygiene, for analytics. It doesn't even matter what the vertical is, it's like business-to-box at the end of the day, pretty much, yeah.
Speaker 2:Yeah, it's very unique because initially, when I heard about this and, by the way, I'm in digital marketing, a lot of our audience is in digital marketing we're always looking for that next thing. I saw solar doing well, 2015. I'll talk about that on stage in a little bit. I jumped in and had a really good run. I still make money on solar, but we're always looking at what's the next solar, what's the next trend. Seniors it's like evergreen. Every day, 10,000 people turn 65, right, and they're going to need care is what's going to happen. So what was your kind of like aha moment, like I want to get into this. What made you decide to do it? So for us, what's up, angel?
Speaker 3:So for us, we were working your typical nine to five. I was a assistant parts manager, also a parts manager for a Chrysler dealership. She was in corporate. We were in the rat race and we wanted to get out of that. We didn't know how. She comes from an entrepreneur family. So do I. We just didn't know where or how right.
Speaker 3:And so my sister started two homes in the West LA area. And one day she's at our house and she's looking at this beautiful 2,500 square foot home and she goes this will be a great place for you to start. I said you're crazy. I would never do that, never in a million years. Well, little by little, we would go visit her work with her, help her out, and we sacrificed a 2,500 square foot home for a 300 square foot ADU in the back. To start this it was Amanda, my daughter, me and our two dogs. You got to make sacrifices and that's where we got into the senior living industry and we just fell in love with it and the rest. If you go into a business not for the money but because your heart is in it and you really, truly enjoy what you're doing, which we're servicing and changing lives, the money will follow.
Speaker 2:You provide a lot of value. I mean, these are the golden, the last years, last years, decades of a person's life. You want to make sure they have that dignity, that peace, right, and I think that's what you give. And what I like about it is again initially I thought I think of senior living. I think of like a big building with a thousand people in it. Kind of like a big building with a thousand people in it, kind of like hospice kind of stuff. Right, I guess that's the perception. You guys have a different model. It's in the residential home, right. So can you break that down? Because you had it on stage? We'll probably show some of those slides. I just thought that was amazing because it's more like you're at home under supervision. Your loved ones are being taken care of in a house, they're not in.
Speaker 1:And insurance. That's when home health comes in, hospice comes in, and that's through either Medicare or private insurance. Most of our clients, though, are private pay clients, so what that means is, in the US, on average, one client can pay you $5,000. That's average. My rates are higher because I have the reputation now, and that's what we're teaching our students to do as well in our coaching program, but now the government has realized that there's a lot of low income seniors that need assistance, and there's a lot in in California. We have Medi-Cal, similar to Medicaid. Medi-cal in some counties in California will actually pay you more. My rooms start at 5,500.
Speaker 2:I have clients that's for one room, that's for one shared a semi-private room.
Speaker 1:I have six seniors in a house, so for easy math, let's just say $5,000. That's grossing $30,000 a month. Medi-cal, though, under government programs, will pay me starting $6,500 for the same room. So it's the loopholes and working, I'm sorry, and also learning how to use these government programs to your benefit so that you can provide more services to your seniors.
Speaker 2:And that's what students will learn through your course. I mean by getting set up with you right, exactly.
Speaker 3:Absolutely. It's a whole process from getting licensed by your state, because every state has different laws, regulations. So california, you can have six beds or under texas is four to sixteen. So every state has their, their laws right yeah but our business portion of it.
Speaker 3:That doesn't change. All three of my homes are rent exactly the same way. Why? Because it works. Very first of all, it gives peace of mind to my residents. Every single day is the same. A lot of my residents have cognitive impairments and so routine they'll thrive on that. Otherwise they have anxiety, they panic. Every single day is the same. So we, you know, we want to create an environment of calmness and healing, and then in the business portion of it, I can interchange my staff. So if something happens over here, the routine is exactly the same way. So from training, hiring, getting the right families, interviewing the families, doing assessment of your residents, getting the right people in your home, all of that.
Speaker 2:Is it 1255?
Speaker 3:Okay, oh all of that is part of our coaching program, and how to run a home successfully, yeah, Got it.
Speaker 2:And so let's talk numbers. You're on stage, what's the average? You had one home on stage and I don't want to mess up the numbers, I think I remember. But let's say, you get one home, right, how much do you see that generating in terms of revenue and profitability?
Speaker 3:I'll let the money lady talk yeah.
Speaker 1:So on average, each home will generate you 30,000 gross net profit. You're looking at about $10,000 a month per home. That's after your mortgage is paid, after you pay your staff, all your overhead.
Speaker 2:So the beauty of this, again, like we said, is that you have two businesses You're in real estate and you're in senior living is what it is, which is just growing like crazy.
Speaker 3:Yeah, we call this the McDonald's model. Yeah, and I said that on stage McDonald's is not in the business of hamburgers and fries, they're in the real estate business. And in this business, with this business model, you're tackling both, because you're buying properties, you're growing your portfolio and you're adding the value of your business. So it's just, it's a win-win. And also for many of you, you might know Cody Sanchez. She ranked our industry number six.
Speaker 2:I saw that.
Speaker 3:Number six as a fail-proof industry. Absolutely Now. There's still risk, Don't get me wrong. And that's any business, though that's any business right, but it's one of the safest industries to go into in recession-free.
Speaker 2:One last thing I want to say. On my show I had someone that was in government contracting. I had him on my show. I signed up for his program it. I had him on my show, I signed up for his program. Yeah, right, it wasn't cheap, right, but I knew I don't have a lot of time, but I have a team. I had someone on my team that could take that over. It's profitable now. We invested in this thing five months ago. Now it's not bringing a huge amount of money, but everything starts with one. Yeah, I'm like I can't believe this.
Speaker 1:Now we so our coaching program is $7,500. And that's for us personally holding your hand through the entire process up to one year.
Speaker 1:I can tell you. In California it takes at least six months to get a license on a facility. But in the interim we're working on those loopholes so that you're not losing money and paying out mortgage in the interim while you're waiting for your license. But we overlap a lot of the steps so that we fast track you, and I mentioned this earlier in another interview. The purpose of hiring a mentor or a coach is to fast track your success. Anyone can learn how to start a business on their own, but look at how long that's going to take you. Why not learn from somebody who's already done it, who has a track record, who's been successful, who's actually generating the income they're claiming?
Speaker 2:Yeah, you collapse time for me that way, absolutely, and that's why I signed up with my friend, a government contractor. It's working for me. That's why I have you guys on the audience. I'm going to look into this too because I believe in it. My mom is a visiting nurse and she's done this for like 30 years and there's so much need for it. It's a great. So many of her patients love her. You know some have passed away, but she treats them like family right, so I think you're giving them dignity. The last years you can make money doing this. It's growing like crazy, so why not look into it?
Speaker 1:It's an amazing industry. It feels so good to help people in your community that truly need the help.
Speaker 2:Yeah, I love it.
Speaker 3:Yeah, you know, as I mentioned before, we've touched so many people and so many people have touched us too because we, as you mentioned, they're golden years and when they leave us, they leave an impression with us. We have so many stories from all of our seniors. I mean, we had a lady who she was one hundred and six. Wow yeah, and she survived so many things. We have a gentleman right now. He was telling me he was six years old when he was in school and he heard about the Pearl Harbor bombing.
Speaker 3:These stories are going to the grave, unfortunately, and so I'm working on keeping these stories and doing a little memoir of all of them. But in the meantime, meantime, it's such a great feeling to help these people, and just their last days make it the best possible it helps us value life a little bit more.
Speaker 1:We enjoy it does.
Speaker 2:Yeah, listen, my dad passed away in february, uh this year, and man yeah, and then you know this. All it resonates with me and it's happening for all of us. You know our parents are the element of 70s 80s, so it is what it is, but I think it's a great product. I'm great glad to have you guys on this show. How can people find out more about you guys?
Speaker 1:you can follow us on instagram I'm the amanda palomino and boris boris v palomino yeah, follow them.
Speaker 2:We'll put a link there. They're giving you a great opportunity to join a fast growing industry with minimal risk. Fast track thing, collapse timeframes Follow them. Let's fucking go.
Speaker 1:Yeah, let's go, let's do this, let's go.