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Updated over 7 years ago on . Most recent reply

User Stats

4
Posts
1
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Jason Jenkins
  • Investor
  • Newton, IA
1
Votes |
4
Posts

Transitional housing for substance abuse program.

Jason Jenkins
  • Investor
  • Newton, IA
Posted

Thinking of partnering with local substance abuse recovery nonprofit to find and run some single and multi family transitional housing.  I am under the impression that the group would manage the houses, collect rent, and I am only needed to find a few good dwelings, getting financing to personally purchase property's and rent to the group that would then "sub-let" To people in the program- Anyone know of problems that I could not be for seeing? Best way to structure the deal? And anyone looking to invest?    It is a well run and growing group that is changing lives on a daily basis and I am wanting to be a part of it. 

Thank you for any help!

Most Popular Reply

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2,667
Posts
1,760
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Deanna McCormick
  • Minneapolis, MN
1,760
Votes |
2,667
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Deanna McCormick
  • Minneapolis, MN
Replied

just make sure the house,, is zoned for mulit use.. and you will not be living in it so the rental issue of how many people that can live in the house are within rental license guides.

You would see a increase in all utilities..so make them pay those. and Parking is a issue also. Lots of foot traffic in and out so keep in mind neighbors are sensitive and you'll need to be kept aware of that. Install electronic locks on doors so codes can change, less key trouble. 

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