Hi! Right now I invest in long term, medium term and short term rentals. As they are lucrative, I am looking to expand and dive into the group home community specifically in Austin, TX. I am still gathering information on the certifications and qualifications needed but does anyone have any experience or expertise in this field?
Investor · Orange City, FL · Member since 2022 · 20 posts · 17 votes
3y
There is so much to tell you about group homes. But I would be doing you a disservice if I didn’t refer you to the ones who are teaching me everything I know. go to the the website : www.grouphomeriches.com
It's a shame that more REI aren't doing this. But I sense a change is coming especially with the affordable houses CRISIS we are experiencing right now. I will be opening my first home in December and I didn't even need a license to do it! Happy hunting everyone and i'd love to talk about it if anyone is interested.
Rental Property Investor · Milwaukee, WI · Member since 2017 · 60 posts · 40 votes
3y
I worked at my mother in law’s group home for a few years, so I guess I would ask what you mean by getting into them? Also I think you have to be more specific because people have different interpretations of “group home”. Specifically, the one I worked at was for young boys in transition away from family for a variety of different reasons.
If you are just trying to lease to existing group homes then I’d imagine it’s like any other commercial lease. They have a lot of different inspections they get regularly and I remember when she was trying to expand they wanted her to have a certain amount of reserves before allowing her to open a second location. This probably varies from state to state.
In terms of opening one yourself? That would be a totally different business venture and definitely challenging!
West Linn, OR · Member since 2023 · 35 posts · 23 votes
3y
I'm actually looking into this too. You can rent your SFH to a non-profit like a NARR Level 2 drug recovery home. So far I've looked at Kate's House Foundation.
Investor · Orange City, FL · Member since 2022 · 20 posts · 17 votes
3y
There is so much to tell you about group homes. But I would be doing you a disservice if I didn’t refer you to the ones who are teaching me everything I know. go to the the website : www.grouphomeriches.com
It's a shame that more REI aren't doing this. But I sense a change is coming especially with the affordable houses CRISIS we are experiencing right now. I will be opening my first home in December and I didn't even need a license to do it! Happy hunting everyone and i'd love to talk about it if anyone is interested.
Thanks for the shout out! several people have reached out to me with interest. I’m super excited to start working with you!!! Prepping for my reno! I’m def gonna need your guidance lol Thanks for all you do #rockstar