Category: Financial Wealth Via Group Homes

Are You Worth More Than Just Paying Bills?

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“I just love paying bills,” said NOBODY EVER! Society has drilled you into a life filled with barely surviving instead of THRIVING. You feel you have to depend on crappy jobs because you need to pay the car bills, and their credit bill and every other bill that they have racked up over the years! In today’s audio, we talk about escaping this life and how the real estate industry is the perfect escape for many people. Learning how to start a group home can be the most powerful thing you do for your finances.

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Group Home Business Plan – Why You Need One TODAY

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It has been a while since we wrote in this blog here at Group Home Riches. What have we been doing? Well, we have been busy running our day-to-day business which involves looking for more group homes to acquire along with other real estate and business endeavors, and creating an awesome group home business plan. That is the beautiful thing about the Special Needs housing industry.

If you start a special needs housing business or a Group Home business, you have the opportunity to focus on additional income and revenue streams. Although we are not huge proponents of “flipping” real estate, what you will find is that after you build out your group home team- manager, porter, housekeeper and all the trades associated with keeping the place up to par (HVAC, electrical, tape/float, sheetrock, flooring, paint, etc.) you will pretty quickly be able to handle the general contractor related duties if you want to flip something. But to do all of this you will need a group home business plan.

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How to Get Group Home Rent Paid Through Government

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How can I start a group home for adults or elderly and get paid through government?

These are great questions to ask. These days, millions of people need of quality housing but simply do not have the income to afford a place to live. With average rents at apartments of $1,109.73 in the second quarter of 2013, it is no wonder adults, and the elderly are looking for cheaper alternatives. Often, group homes for the elderly are the best options.

Homes like these often come with shared rooms, essentially giving two people the ability to live in a room together and inside a home with a common kitchen. In essence, they are roommates! Because this type of housing is in such high demand, many entrepreneurs and real estate investors are starting up group homes for adults and the elderly to make additional income. And in many cases, not just a little income. Often, the income potential can be astounding.

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Group Sober Homes & Additional Revenue Streams

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Are there other ways to generate income and revenue from sober homes other than through Rent?

In a simple answer Yes! However, it really depends on what type of group home or sober homes you are operating as well as the location.

For starters, let’s assume that you are interested in starting a group home or a halfway home. Initially, you would like to simply get into the business because you realize that you can have a direct impact on people’s lives and help them improve their standard of living. You also realize that you do not yet “know all there is to know”, so you have decided to start small – with a minimal investment – in order to get your group home started up and therefore go after the higher functioning population rather than starting up an ICF/MH home which requires a lot more knowledge and insight. For example, maybe you would like to go after people with disabilities such as alcoholism.

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Who Pays Me For Starting Group Home?

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Does The Government Provide Financial Assistance For People who are Starting Group Home?

In one simple answer: YES!

The US government at both a local and state level funds thousands and thousands of providers on an annual basis. In fact, if you go to google and type something in related to the above article title, you will literally find hundreds of links related to obtaining funding for your next group home, transitional living home, care home,  shelter or assisted living center. Remember, the government will HELP YOU, if you help those in need!

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Buy Or Rent Your First Group Home?

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Do I Need To Own The Property to Start My First Group Home?

This is another very common question, and honestly a matter that keeps most people out of business and therefore out of money and without the ability to help people! Folks, what are you doing! You need to get creative. This is America! If you don’t have money, use your mind! Find others with the money you need or get creative and figure out how to do it without any of your funds….let’s dive into this in more detail.

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