Edgewood, MD · Member since 2014 · 283 posts · 59 votes
My team lead at my job invests in room homes in Baltimore City. I'm sure everyone knows what I'm referring to but just in case the term "room home" isn't accurate then let me explain. Basically tenants will pay rent on a weekly basis. The houses normally have a common area, kitchen, and bedrooms all throughout the house. Not only does my team lead do this but my friend and someone else I know also does this. My question is does anyone invests in or know anyone who invests in room homes? If so what has your/their experience been with this strategy?
Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
8y
@David White There are investors on BP that invest in those types of homes. I myself own a 4600 sq. ft. house on 20 acres in Redding CA and have rented the rooms to students at a local ministry school, a Christian missionary group, and currently rent to a sober living home, that subleases the rooms to women in transition.
There are many variations of such homes. I think one that will begin to get far more popular is for seniors. There's a lot of people that are still active, like living in a nice home, but don't want the maintenance, or solitude of living alone
Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
8y
@Leanne J. Both of you are speaking of the same thing. Different regions have different ways they refer to things. Some areas call them boarding houses. Depending on the users they can be "transitional housing" "student housing" "rooming house" "sober living" and a lot of other terms I'm sure. The newer term is now shared housing. It's all the same. A house or building where the bedroom space is rented by the room.
Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
8y
@David White There are investors on BP that invest in those types of homes. I myself own a 4600 sq. ft. house on 20 acres in Redding CA and have rented the rooms to students at a local ministry school, a Christian missionary group, and currently rent to a sober living home, that subleases the rooms to women in transition.
There are many variations of such homes. I think one that will begin to get far more popular is for seniors. There's a lot of people that are still active, like living in a nice home, but don't want the maintenance, or solitude of living alone