Assisted Living Investing
Choosing Assisted Living Locations: Transforming Online Research into Perfect Locations - Ep 11
In this episode, Brett Chotkevys dives into the crucial steps of starting your own assisted living facility. Brett breaks down the process into four key frameworks, with today's focus on the first one: location selection.
Starting with thorough online research, Brett emphasizes the importance of understanding your local market inside out. You'll need to know the demographics, such as age, income, and housing prices, in your target area. This information helps you determine whether there's a demand for your assisted living services and if potential residents can afford them.
Moreover, Brett emphasizes the significance of understanding state regulations and licensure requirements. These regulations differ by state and directly impact your business's operation. Ensuring you're well-versed in these laws is essential to avoid costly mistakes down the line.
Additionally, Brett suggests analyzing the competition. Investigate other assisted living facilities in your area to identify best practices and areas for improvement. Pay close attention to their websites, social media presence, and zoning to gain insights into their success and shortcomings.
#Investing #RealEstate #FinancialAdvice
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Facebook: https://www.facebook.com/brett.chotkevys
Youtube: https://www.youtube.com/@assistedlivingmansion
Check out some FREE Resources HERE: https://www.PALM.University
Follow me:
Facebook: https://www.facebook.com/brett.chotkevys
Youtube: https://www.youtube.com/@Brettchotkevys1
Check out some FREE Resources HERE: https://www.memorycaremansion.com
Assisted living investing, Residential Assisted Living, small facilities, passive income, myth debunking, challenges, limitations, active involvement, owner-operators, staffing, emergencies, quality care, scalable business model, 16-bed luxury memory care mansion, informed decisions, behind-the-scenes insights, thriving niche, One and Done, Financial Freedom, Active Income, Making a Difference, Long-Term Exit Strategy, Real Estate, Retirement Planning, Memory Care Mansion, Investment Opportunities.
Intro Music by Alex_Kizenkov via Pixabay
In this episode, Brett Chotkevys dives into the crucial steps of starting your own assisted living facility. Brett breaks down the process into four key frameworks, with today's focus on the first one: location selection.
Starting with thorough online research, Brett emphasizes the importance of understanding your local market inside out. You'll need to know the demographics, such as age, income, and housing prices, in your target area. This information helps you determine whether there's a demand for your assisted living services and if potential residents can afford them.
Moreover, Brett emphasizes the significance of understanding state regulations and licensure requirements. These regulations differ by state and directly impact your business's operation. Ensuring you're well-versed in these laws is essential to avoid costly mistakes down the line.
Additionally, Brett suggests analyzing the competition. Investigate other assisted living facilities in your area to identify best practices and areas for improvement. Pay close attention to their websites, social media presence, and zoning to gain insights into their success and shortcomings.
#Investing #RealEstate #FinancialAdvice
Follow our socials!
Facebook: https://www.facebook.com/brett.chotkevys
Youtube: https://www.youtube.com/@assistedlivingmansion
Check out some FREE Resources HERE: https://www.PALM.University
Follow me:
Facebook: https://www.facebook.com/brett.chotkevys
Youtube: https://www.youtube.com/@Brettchotkevys1
Check out some FREE Resources HERE: https://www.memorycaremansion.com
Assisted living investing, Residential Assisted Living, small facilities, passive income, myth debunking, challenges, limitations, active involvement, owner-operators, staffing, emergencies, quality care, scalable business model, 16-bed luxury memory care mansion, informed decisions, behind-the-scenes insights, thriving niche, One and Done, Financial Freedom, Active Income, Making a Difference, Long-Term Exit Strategy, Real Estate, Retirement Planning, Memory Care Mansion, Investment Opportunities.
Intro Music by Alex_Kizenkov via Pixabay