Hi Joseph,

Thank you for writing. The answer to your question is not easy. In
order to answer I need more information from you.
1. How much experience do you have taking care of people?
2. Do you have family or friends that can help you - that do have job
experience in caring for others?
3. Do you have any experience in marketing?
4. Is the primary reason you want to open an RCFE is to make "good"
money?
5. Do you have a home in mind to buy? If so, have you calculated the
monthly payment, plus insurance, taxes and the cost to remodel?
6. Have you ever been in business for yourself and do you know how to
do a real profit and loss statement?
7. If you were to buy the existing home, how much training will the
current owner provide for you?
8. Since the current owner's mortgage payments, taxes and insurance
will be based on when the home was purchased, have you factored in
the increases you will have to pay in your projected profit and loss?
9. Is the current owner paying the live-in staff according to
federal and state law requirements? (In many cases, I have found
they are not. Check out ProvidersWeb's past newsletters for info on
live in wages.)
10. Have you reviewed the last 3 years tax records of the business
you want to buy?
11. Have you checked out the reputation (from outside sources) for
the business you are interested in buying?
12. Are you a member of ProvidersWeb.com?

By the way, if you are starting your own business, the rule of thumb
is to have enough money to carry your business for 2 years on hand,
and that is very important. You cannot run out of money for food,
staff, utilities, etc.. when you are taking care of people.

As for the questions about my two lawsuits, I will share more about
those in ProvidersWeb's January Newsletter.

Sincerely,
~Diane


--- In AskDianeProvidersWeb@yahoogroups.com, "Joseph_LD"
<joseph_ld@...> wrote:
>
> Diane,
> I plan on starting an RCFE as a business owner, and hire an
> administrator to run the facility. From a cash flow stand point,
will
> I net more monthly income if I purchase a 6bedroom RCFE that
already
> is 100% occupied or buy a home and turn it into a 6bedroom RCFE and
> have it fully occupied?
>
> Also, may you elaborate on the 2 lawsuits you had?
>
> thanks,
> Joseph
>