The $100,000 Mistake New RAL Investors Keep Making! | EP 160

<p>Most new Residential Assisted Living (RAL) investors think the biggest risk is finding the wrong property.It isn't.One of the biggest mistakes is moving forward on land before you fully understand your due diligence, zoning, financing, entitlements, permits, and—most importantly—how to get your money back if the deal doesn't work.In this episode, Brett Chotkevys breaks down how experienced Assisted Living Mansion investors approach land acquisition so they can move fast without putting massive amounts of capital at risk.Brett walks through the exact process his teams use when evaluating land for new construction assisted living and memory care projects—including how to structure offers, protect your earnest money deposit, negotiate due diligence periods, build contingencies into your contract, and recognize when it's time to walk away.You'll learn why the first piece of land you make an offer on may not be the one you ultimately build on—and why having the ability to get your deposit back and move on to the next opportunity can be one of your biggest advantages as a real estate investor.In This Episode, You'll Learn:• How to make offers on land without unnecessarily risking your capital• Why due diligence is critical when buying land for assisted living• How to protect your earnest money deposit• The difference between "hard" and "soft" deposits• How long you should try to negotiate for due diligence• Why extension periods can be incredibly valuable• How zoning, entitlements, permits, utilities, environmental studies, and drainage can kill a deal• When and why you may want to renegotiate the purchase price• How financing contingencies can protect you• The difference between a short-term land loan and long-term construction financing• How long escrow can give you time to get your plans, permits, bids, and financing together• Why sometimes the smartest move is to cancel the contract and come back later• How to make multiple offers while protecting your ability to move on to the next propertyIf you're serious about building a Residential Assisted Living (RAL), memory care facility, or Assisted Living Mansion, the land you choose can determine whether your project succeeds—or becomes an expensive mistake.Ready to explore your market and see if an Assisted Living Mansion could work in your area?👉 Book a call with our team and learn how we help investors navigate the process from land acquisition through development.httpsbit.lyassistedlivinginvestingspotify</p><p>⏱️ TIMESTAMPS00:00 – How to move fast without losing money00:26 – The land acquisition strategy for Mansion Builders01:29 – The due diligence checklist02:41 – Market research, zoning &amp; talking to the city03:08 – Finding the right real estate agent03:53 – Setting up your business entity04:35 – Earnest money &amp; financing considerations05:36 – How to determine your offer price06:35 – Why due diligence creates opportunities to renegotiate07:55 – The most important part: your deposit08:25 – When does your deposit become non-refundable?09:02 – Why most land deals don't make it through due diligence10:00 – How long should your due diligence period be?10:32 – Using extensions to protect your deal11:40 – Contract contingencies that can protect your money12:02 – Financing &amp; entitlement contingencies13:05 – Why you need an "out"13:24 – When to walk away from a land deal15:30 – How are you going to finance the property?16:09 – Short-term financing vs. SBA construction financing16:25 – Using a long escrow period18:02 – Plans, permits, construction bids &amp; appraisals19:13 – The land acquisition process recap19:57 – How to avoid losing massive amounts of money20:21 – Take massive action—but give yourself a way out20:24 – Want help finding land for your RAL?</p>