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Updated almost 3 years ago,

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Lena Nguyen
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Any sober living home landlords?

Lena Nguyen
Posted

I'm new to investing and looking into my first investment property. I'm looking into buying a SFH that is currently on a two year lease to a sober living program. I never even considered anything like this but the numbers seem to be good. The rent is 20% above market and increases 3% annually. They take care of all utilities and minor repairs. They manage everything, day to day. CAP rate is 5% in an area with growing appreciation. I like the idea of helping people with addictions being in the medical field myself and seeing how motivated to change. Thoughts?