324: [Brett Chotkevys] Building Dreams: How 16-Bed Mansions are Changing Assisted Living

We're diving into the world of assisted living, and let me tell you, it's a game changer! Our guest this week, Brett Chotkevys, has been building stunning 16-bedroom mansions designed specifically for assisted living and memory care. His passion stems from a personal journey, wanting to create a loving environment for his own grandma. Brett breaks down the ins and outs of finding the right care for aging loved ones, and he spills the beans on how to kickstart your own assisted living venture. Whether you're considering this for a family member or thinking about making a business out of it, this episode is packed with practical tips, heartfelt stories, and a dash of humor. So grab your earbuds and get ready to learn about a booming industry that’s all about care and compassion!

Takeaways:

1. In the world of assisted living, understanding the licensing and zoning requirements is crucial for success, as they vary greatly by state and city.
2. Brett's journey into assisted living began with a personal mission to care for his grandma, illustrating the heart behind his business model of luxurious care facilities.
3. The financial breakdown of running an assisted living mansion highlights the importance of balancing quality care with operational costs to ensure sustainability and profitability.

Chapters:

1. 00:00 Introduction to Assisted Living and Memory Care
2. 03:02 The Personal Journey Behind Assisted Living
3. 06:04 Steps to Starting an Assisted Living Business
4. 08:51 Navigating Zoning and Licensing Challenges
5. 11:53 Building Partnerships for Success
6. 14:51 Funding Your Assisted Living Venture
7. 22:35 Navigating the Assisted Living Landscape
8. 24:08 Building a Strong Team for Success
9. 27:24 Understanding Financials in Assisted Living
10. 30:06 The Future of Assisted Living
11. 34:14 Final Thoughts and Insights

More from Brett: https://AssistedLivingMansion.com

More from About That Wallet: https://aboutthatwallet.com

Disclaimer:

The information in this podcast is for general informational and educational purposes only and does not constitute financial, legal, or tax advice. Please consult with a qualified professional for advice tailored to your individual circumstances.

Episode: 324