Assisted Living Investing

Is Assisted Living A Risky Business? How To Avoid Potential Risks and Issues While Owning An Assisted Living - Ep 28

January 12, 2024 Brett Chotkevys Season 1 Episode 28
Assisted Living Investing
Is Assisted Living A Risky Business? How To Avoid Potential Risks and Issues While Owning An Assisted Living - Ep 28
Show Notes

In this episode, Brett Chotkevys talks about the risks that could happen when owning and operating an Assisted Living. Many people seem to have some anxieties when it comes to investing in Assisted Living due to the potential risks and liabilities that they may have to deal with. However, Brett is here to tell you that many of those worries are a misconception. One of the largest contributors to this myth is that people think Assisted Living is a medical business that could get you sued, but this isn’t true at all. Brett explains that Assisted Living is a step down from medical, and because of this, he doesn’t have any medical staff on the payroll.

Instead, Brett has medical professionals come into his home to work with his grandmas and grandpa for free. This helps him with two things. The first is profit. Brett can leverage the fact that he does have people coming in to do medical procedures to increase his rent. The other way this helps him is that it keeps him from being liable for anything that could go wrong with the doctor who comes in. The doctors have their own insurance and are paid by the families directly. This keeps Brett safe from any risks or issues involving medical. There are a few risks when it comes to Assisted Living mainly revolving around ADLs. Watch this episode to learn those risks and how to avoid them when you start your own Assisted Living home

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Facebook: https://www.facebook.com/brett.chotkevys
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Check out some FREE Resources HERE: https://www.PALM.University

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