All Forum Posts by: Susan Dellea

Elonne,

Did you ever figure out how to change the use to an assisted living facility? 

Susan

@Shai Flax

but first, you should know that there isn't such a thing as getting a manager who is "recovered".  A  prospective manager would say that he/she has been sober for x number of years and would say that they are "in recovery".  There is a reason why it is "One Day At A Time".  Liv-in managers are peers to the other residents and they can relapse themselves.

regarding your question, the main reason might be that people in recovery and in the industry would question anyone's motives.  There is a long history of people getting into the sober house business for the wrong reasons.  There are lots of horror stories.   People in recovery are a vulnerable population.

I forgot to mention that another place you would learn more is by getting the certification training by PARR, the Pennsylvania Alliance for Recovery Residences or by the local  NARR chapter, if you are looking to invest in a different state.

Best of luck with your investing. 

Hi @Shai Flax!

I know a little about sober houses, particularly in Massachusetts.  The best way to start is to become involved in the local sober community where your property is located. Reach out to sober house managers, go to local AA meetings and find out more about the people involved. (I am assuming that you don't have direct experience with addiction and recovery, or have experience as a therapist.)

You will not be welcome as a sober home operator, yourself. But, I'm sure that a sober home operator would be happy to lease from you at above market rent.  You could be asked to perform some intial remodeling to customize or maximize the potential and you "may" also have above average repairs to maintain your property.  A great lease with an option to renew could provide you with a long term tenant, if it's the right fit.  You will also want to be able to break the lease if the sober operator is doing a poor job in managing the residents.

There really is a need for more of these houses in every community and you would be doing a service to your community.  

If it's residential, sometimes you can have a mini farm.  Beekeeping?  Large barn or garage with a workshop and greenhouse attached.

@Mitchell Lyle Your post correlates with the information that I received from attending  a Sober Housing Certification program  .It can be a rewarding niche for the right investor. I am looking for a partner to get started .    There's a couple of people who may be willing to mentor me , if I stay in Massachusetts.

@Cameron Davis If you took the training, NAR-National Assoc. of Recovery Residences, you would be able to screen a sober house operator or start your own.

I am seeking advice and mentoring about an unencumbered, commercial condo lease/option deal in a mixed residential/commercial complex.

The owner/user is selling it without a broker.  I want to use it as an owner/user and start a business.

It’s vacant and tax assessed for $1 SF.  

It’s a basement studio type condo with columns, but mostly open except for two bathrooms and a corner office build out.  It has been used for telemarketing, but now  selling due to age and health reasons.

He wants $90K cash with a 2 year lease/option and lease payments to be credited to the down payment.  I want him carry the paper.

He has agreed to graduated lease payments based upon me growing into the space.  We verbally agreed to $600 mo., including utilities with my initial use of 900 SF.

When I meet with him, again, I am asking how he arrived at $90K and is that before or after the lease payments are credited.  What else am I missing here?

I just realized that this is an old thread after I started posting.  You could have requested  owner financing  for two years.  Then you could  refinance the property and cash them out.