In this episode, Brett Chotkevys talks about how much money you need to start your own Assisted Living. Brett has often found that most of the time, people think that the price of starting an Assisted Living is the biggest barrier to entry. However, Brett completely disagrees with this idea. He was able to open up his own Assisted Living without using any of his own money.

So the question is, if you don’t have a ton of money in savings, how do you get the money to start your business? Brett explains that the first step you have to take is market research. By doing market research, you will learn how much money you can make if you research homes and houses that you want to imitate. After that, you should create a business plan and financial pro formas to present to investors. Investors will give you money if they know that you are serious about wanting to start an Assisted Living and are passionate about it. To learn the next steps in starting your own Assisted Living without having any money, check out the rest of the episode!

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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