The $1M Surprise Cost When Building Assisted Living (Line-by-Line) | EP 136
About this episode
Brett Chotkevys discusses the hidden soft costs in assisted living construction that can significantly impact budgets.
Most people can budget for the land, building, and construction…but the hidden costs (aka soft costs) are what blow up deals — sometimes by $1,000,000+.In this episode, Brett breaks down a real SBA closing document line-by-line to show you exactly what banks include in total development costs: permits, architects/engineering, contingency reserves, construction & lease-up reserves, working capital, SBA fees, bank legal fees, FF&E, and more.If you’re planning new construction, a major addition, or a large renovation for assisted living, this video will help you forecast accurately, raise money with confidence, and avoid getting blindsided when the term sheet comes back “way higher than expected.”Want help building your assisted living deal the right way?: Visit: www.assistedlivingmansion.comTimestamps (use these in YouTube chapters)0:00 Intro — the hidden costs nobody plans for0:59 Hard costs vs soft costs (what’s the difference?)1:21 Example deal: land + build + site work (hard cost totals)2:19 The $1M+ soft cost surprise (why banks quote “crazy numbers”)3:07 SBA loan context (7a/504 + why fees differ)3:38 Permits & city fees (why they vary wildly)4:04 Architects +…
More episodes of Assisted Living Investing
- How We Built a 7-Figure Business Working 6 Hours/Week I EP 143
- The Wrong Loan Could Cost You $100K+ (Watch This First) | EP 142
- The Assisted Living Mistake Costing You Profit | EP 141
- Same Business…One Owner Burns Out, The Other Makes $40K/Month | EP 140
- Turn a House Into $500K/Year (Step-by-Step) | EP 139
- Before You Buy Land… Watch This (3 Deal Killers) | EP 138
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