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Ep 060: Make $6K+ with a rental property | Donzella Burton
02:48 – Donzella shares one of her most interesting stories from her assisted living real estate business. She found the person she was looking for in a hospital bed with his arms and legs shackled and it totally shocked her.
05:10 – Donzella summarized the definition of ‘Assisted Living’. Assisted living is pretty much a home that the owner or landlord allows you to place individuals in there to take care of ederly people.
06:46 – Donzella explains that with assisted living you’re not fully taking care of the ederly but you are just ‘assisting’. In assisted living there are 3 different levels of care; Intermediate, moderate and severe.
09:14 – Donzella explains the average payment income for each level of care. It all depends on the location, location is the key for every kind of business Donzella says.
12:43 – Donzella explains what the ideal house looks like for assisted living. It also depends on the residents and if they’re able to walk or have difficulty walking. For example, a chair lift has to be intalled when it has a 2nd floor says Donzella.
15:36 – Donzella talks about the regulations of the house in terms of size and accessibility for assisted living. You can find the regulations for the house in your zoning office or a fire department that’s in your area says Donzella.
18:35 – Location is definitely the key, says Donzella. The property that you’re going to use for assisted living is going to have to be a commercial zone, Donzella adds.
23:30 – Donzella talks about her story and how she ended up doing assisted living. Donzella was a former flight attendant and wanted to make more money so she decided to do assisted living.
27:22 – Donzella talks about the 1st thing people need to know before trying assited living. There is a 6 to 7 month period before the certification comes out so during those months you have to study and learn about the business says Donzella.
29:29 – “If I can do it anyone can do it!” says Donzella. It’s easy to do it with a partner because you’re sharing the expenses Donzella added.
31:23 – Donzella says the hardest part of this business is staff. Good staff is hard to come by, if there’s someone who stays with you 2 to 3 years, that’s a good one says Donzella.
33:09 – Get into a business that is going to benefit you financially and also bless others says Donzella. When people know that you are taking care of elderly people, they’ll look at you totally different and you’ll gain respect.
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