Assisted Living Investing

How Much Money Can You Make Owning An Assisted Living?: 8-Bed vs 16-Bed - Ep 27

January 05, 2024 Brett Chotkevys Season 1 Episode 27
Assisted Living Investing
How Much Money Can You Make Owning An Assisted Living?: 8-Bed vs 16-Bed - Ep 27
Show Notes

In this episode, Brett Chotkevys talks about how profitable owning an Assisted Living can be. Brett’s home is a Luxury 16-bed Memory Care Mansion. This business model has created a life of financial freedom for him and his family. Oftentimes, however, when people talk to Brett about starting their own Assisted Living business, they say that a 16-bed seems a little intimidating and wouldn’t it be easier to open an 8-bed and then open a second 8-bed later on? Brett goes through the numbers and compares the profits between a single 16-bed and two 8-bed assisted living.

While they will make the same amount of money when it comes to rent every month, you will see the difference between the 8-bed and the 16-bed when it comes to expenses. From having to pay more staff and having more operational costs to run two 8-beds, you see a drastic difference in net profit due to the higher operating costs such as payroll.

If you want to learn more about how Brett started his own Memory Care Mansion, then check out our Free Foundations Training!: https://palm.university/optin-freecourse

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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