All Forum Posts by: Laura Chotkevys
Laura Chotkevys has started 1 posts and replied 6 times.
Post: Residential Assisted Living- What is up with this?
- Posts 7
- Votes 10
Quote from @D. Dee:
@Laura Chotkevys how much capital would you recommend for starting this type of business?
We partner with individuals who want to start their own Assisted Living Mansion. The upfront capital needed is around 50k. On our first deal we used $0 of our own money. We raised money for the gap funds on our deal.
Post: How do you invest into Adult Care facilities
- Posts 7
- Votes 10
Hey Troy!
My husband and I own and operate Platinum Resort Assisted Living in Georgetown, Texas. We also help other individuals all throughout the U.S. who want to start their own Memory Care Mansion. We would love to help guide you through the process.
Check out the following free resources:
Assisted Living Investing Podcast with Brett Chotkevys
Post: Residential Assisted Living- What is up with this?
- Posts 7
- Votes 10
I own and operate Platinum Resort Assisted Living in Georgetown, Texas. I am VERY familiar with this strategy
Post: Dave Ramsey recommends buying everything with cash!
- Posts 7
- Votes 10
I leverage debt to make more money by purchasing more investments. Using all cash to purchase investments is silly! Why wouldn't you leverage yourself to do more deals?
I own and operate Platinum Resort Assisted Living (A Memory Care Mansion) in Georgetown, Texas
Post: Platinum Resort Assisted Living and Memory Care
- Posts 7
- Votes 10
Investment Info:
Large multi-family (5+ units) commercial investment investment in Washington.
Purchase price: $350,000
Cash invested: $600,000
I own and operate Platinum Resort Assisted Living, a 16-bed Memory Care Mansion located in the heart of Georgetown, TX! We purchased this property in 2019, completely rehabbed it and transformed it into an Assisted Living Mansion. We bought it as a 4 bed/3 bath 3,900 sq ft house, and converted it to 15 bed/12bath 6,300 sq ft home.
What made you interested in investing in this type of deal?
My husband and I owned and operated a Room and Board in CA where we housed 10 individuals who just got out of the jailing system or trying to get clean off of drugs. We found that this business just wasn't what we thought it was going to be, so we brainstormed on other ideas where we could house individuals that really need and want assistance. Assisted Living came on our radar, so we researched and knew this is what we wanted to do.
How did you find this deal and how did you negotiate it?
We found the home on zillow, called the realtor, walked the property, put in an offer, it got accepted, so we packed up and moved our family from CA to TX to start this new venture. Never looked back. It has brought so much time and financial freedom to our family.
How did you finance this deal?
A private investor self directed his IRA funds, once we were up and running, we refinanced and now we own the deal 100% on our own.
How did you add value to the deal?
Completely updated the home and converted into a service that is MUCH needed in the area.
What was the outcome?
We have now been operational for over 3 years, cashflow 40k-50k Per month on this ONE deal, and are now expanding. We purchased 8 acres in Georgetown, TX and are building 4 more Memory Care Mansions to eventually cashflow 250k per month (total of 5 building).
