Anyone have experience renting a Group home ?

1 Reply

So I sorta stumbled across my latest purchase. Great deal... Another case of right time, right place. It is a HUGE house, but only 4 big bedrooms, office. I bought it with brand new stainless appliances. Its in a semi rural area, but close to town and zoned industrial. On an acre plus. Nice outbuildings. I could rent it easily to a family...but am looking at ways to maximize its potential. I have a dear friend (a realtor who lest that business in the recession) who now works for a foster care agency. They no longer do group homes for children but have been looking without success tor one for transitional youth. Those who are 'aged out' of the foster programs and find themselves adrift. They are very very interested in renting this property from me. Do any of you have experience with renting to an agency like this? I should add that I am in California, but if you follow the rules and read the contracts (and have an assist from a legal team), its not that bad. I would love to hear your experiences and will share mine as we go along. Thanks in Advance.

Not experience owning however we would consider financing them. Insurance is always an issue and not sure what city/ county some requirements for a CUP to operate . What type of audience are thinking of marketing too?

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here