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Updated over 9 years ago on . Most recent reply

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John Bull
  • Towson, MD
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how can you make money off a 9 bedroom home

John Bull
  • Towson, MD
Posted

I brought a rehabbed 9 bedroom home.  How would you make money with this investment?

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Bryan O.
  • Specialist
  • Lakewood, CO
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Bryan O.
  • Specialist
  • Lakewood, CO
Replied

@Linda Weygant thanks for the mention.

You can possibly convert it for assisted living. In CO you can have up to 8 residents before getting into zoning, though I'm not sure if that is state or county limit.

@Karen Margrave You do not have to also operate the business, thought you can generate more income that way.

I would say to look into finding an operator and leasing the building to him/her to operate the assisted living facility out of. They tend to sign long leases (10 years). You can make great returns that way.

You can look into student housing if you are near a college. Maybe rent rooms on AirBnB or other vacation rental site. @John Bull You really haven't given any worthwhile information so it is hard to help meaningfully.

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