Assisted Living Investing

The Memory Care Advantage: The Financial Benefits of Memory Care - Ep 22

December 01, 2023 Brett Chotkevys Season 1 Episode 22
Assisted Living Investing
The Memory Care Advantage: The Financial Benefits of Memory Care - Ep 22
Show Notes

In this episode, Brett talks about the benefits of adding Memory Care to your Assisted Living Home. Brett’s niche is a Memory Care Mansion. His mansion is a 16-Bed purpose-built home for memory care. He created this business model to compete with the big-boxed Assisted Living Facilities while being way more profitable than a small Residential Assisted Living. While creating this niche, he learned about the huge benefits of memory care and how there weren’t a lot of drawbacks.

For one, he learned that there wasn’t really a lot of added work for adding memory care to his Assisted Living. If you are already handling end-of-life care in your Assisted Living, your staff is already prepared to handle memory care. The only thing you really need to handle both end-of-life care and memory care is more care. If your staff is already proficiently trained in end-of-life, adding memory care won't really require anything else from you.

Also, Memory care is more expensive. When you solve memory care, you are solving a bigger problem. Because of this, you should receive a bigger reward. By having memory care in your Assisted Living, you are reaping a bigger reward without really spending all that much more than you would operating end-of-life care. We hope that after listening to this episode, you will know if you are ready to have memory care in your home.

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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