Rental Property Owner & Real Estate Investor Podcast EP335 Investing in Residential Assisted Living Facilities with Chuck Bongiovanni
In 2020, the U.S. assisted living facility market was valued at $83 billion, and that value is expected to increase substantially over the next decade.
My guest today has a mission to revolutionize the assisted living industry by making it available for any individual to invest.
Chuck Bongiovanni is the CEO and co-founder of Majestic Residences Franchise System with a trademarked turnkey operation that generates $5,000 per resident per month.
Today Chuck is going to explain how investors and caretakers can set up six to sixteen bed residential assisted living facilities in residential neighborhoods. We’ll talk about the income and expenses to anticipate, how to staff them, and technology his group is using to provide maximum comfort to the residents. We’ll also discuss the difference in mindset between an investor in this space and a caretaker, and how the two can work together to make these facilities happen.
Most people aren’t aware of these types of facilities, yet they’re in every city and will double in size over the next ten years. I know you’ll find this conversation with Chuck to be interesting and informative. You can find out more at https://www.discovermajesticresidences.com.
Today’s episode is brought to you by Green Property Management, managing everything from single family homes to apartment complexes in the West Michigan area.
https://www.livegreenlocal.com
And RCB & Associates, helping Michigan-based real estate investors and small business owners navigate the complex world of health insurance and Medicare benefits.