Your Grandma Deserves a Mansion: Assisted Living Investing with Brett Chotkevys

"My expenses are equal to 10 residents. We run all 16 bedroom mansions. And so the last 6 residents are profit."

 

Brett Chotkevys got tired of doing multiple fix and flips a month. He wanted one big deal a year that could cash flow and build a million plus in equity. With his own grandma in her early 90s, he jumped into assisted living in 2019, with no medical background.

 

Today he builds 10,000 square foot assisted living mansions with 16 private rooms and a private chef. Brett explains why he gave up on home conversions, why he builds on the affluent edge of town, and how he rolls equity from one building into the next.

 

Key topics:

• Why residential zoning caps home conversions at 6 to 10 residents
• The 16 bed model and why the last 6 residents are profit
• Winning customers from big corporate facilities
• Why assisted living is non medical
• SBA loans, new construction appraisals and rolling equity
• How his JV partnerships work

 

About the guest:

Brett Chotkevys runs Assisted Living Mansion out of Austin, Texas. He has operated assisted living homes since 2019 and builds 16 bed mansions, including a 7.6 acre project in Georgetown, Texas. He also hosts the Assisted Living Investing podcast.

 

Connect with Brett:

https://assistedlivingmansion.com/

 

Prefer to watch on YouTube?

https://www.youtube.com/@propertyprofitsrealestate

 

Want to be a guest on the show? https://www.daveinterviewsyou.com