This investor generates $30,000 per month in rental income from a single property. It’s not a short-term rental, or a beachside Airbnb, or anything even close to that. Within a couple of years of starting to scale, James Davis has a rental portfolio on track to gross $1,000,000 per year in rents, from just six properties. The best part? He’s not even doing it for the money. His investments are making lives better while securing him financial freedom.
You may have heard of assisted living before, but probably not like this. While many assisted living facilities focus on older adults, James owns small assisted living properties that cater to individuals with disabilities. After taking on two traditional real estate deals, James’s brother, who worked in disability services, thought they could be treating residents better. So, they converted one of James’s properties into a compliant assisted living facility. They got their first monthly tenant—the rent: $15,000 per month for one bedroom.
Sounds steep, right? James walks through the entire expenses and profit margins to prove that the caregiving business may be worthwhile, even just for the emotional benefits. Now, he has six properties and has already pulled in $500,000 just halfway through the year. Follow the same steps James shares in this episode, and your portfolio could grow just as fast.
In This Episode We Cover
How James went from making $16/hour to bringing in $1,000,000/year in rents
How much assisted living investment properties make (cash flow!)
Locking down a 3.5% interest rate using the creative “subject to” strategy
The process of becoming legally compliant for running an assisted living property
Why James still buys long-term rentals instead of more assisted living properties
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1156
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