#526: Mitch Conrad's Journey from 1 Triplex to $100M Assisted Living Business

Denver Investment Real Estate

Could converting houses into senior living facilities be the most overlooked goldmine in real estate? In this eye-opening episode of the Denver Real Estate Investing Podcast, host Chris Lopez sits down with Mitch Conrad, a former high school teacher who transformed a personal family crisis into a thriving 23-location senior living empire.

Mitch’s journey from educator to real estate mogul is nothing short of extraordinary. He now oversees 400+ senior residents and nearly 300 employees, all stemming from an accidental foray into long-term real estate investing. You’ll hear the pivotal moment that led him to specialize in this unique and lucrative niche.

Prepare for some mind-blowing revelations:

• The unexpected advantages of residential senior care facilities during the COVID-19 pandemic
• How Mitch and his wife navigated the labyrinth of senior care regulations (including some inspection stories that will leave you in disbelief)
• Why converting single-family homes into senior care properties can potentially outperform traditional multifamily investing

Mitch offers a masterclass in scaling a real estate business, detailing his progression from small residential properties to commercial facilities. He shares priceless advice on:

• Identifying and dominating your real estate niche
• The crucial importance of taking action, even when you feel unprepared
• Developing an “unfair advantage” in your chosen real estate specialty

Whether you’re a veteran investor seeking new opportunities or a newcomer looking for inspiration, this episode is brimming with game-changing strategies and hard-earned wisdom.

https://youtu.be/xJ0toIwCMYk

Timestamps

(01:59) From Teacher to Real Estate Investor

(08:44) Transitioning to Senior Living

(12:26) Converting Homes into Senior Care Facilities

(22:59) Scaling Up: Residential to Commercial Facilities

(29:14) Tips for Real Estate Investors

Links to Podcast

Mitch Conrad email: [email protected]

• LinkedIn: Mitch Conrad
• Mitch Conrad Website: https://GardensCare.com/