Sober house for recovering opiate addicts

[Jeffery Waicak]

My wife has an idea to start a sober living facility for people recovering from opiate  addiction.  I like the idea for several reasons.  1 there is a huge epidemic in my area, and there seems to be no end in site, I like the idea of helping people,  I understand that most will probably relapse and that's going to be hard.  2 there seems to be good money in this. 

  We found  a triplex for sale within easy walking distance of the bus line, as well as the suboxone and methadone clinic. It currently has 3 apartments, 2 bed 1 bath each. I talked to the owner,  he said we could easily convert  it to a 9 bedroom 3 bath facility. At that, 1 bedroom is used by the house manager,  the other 8 are double occupancy,  so 16 people,  at $100 per week.

    The building is priced at 29,900. I think I can be built out all in for 60,000. That being said, I haven't even seen pictures of the inside.   But, the numbers seem great. There's another one in my area, I called,they charge the same $100 a week, and have a waiting list to live there.

   Am I missing something,  anyone with any experience? Thanks and sorry for posting in innovative strategies,  it is to me though lol

[Glenn McCrorey]

@Jeffery Waicak  In my town, you can't have more than 5 unrelated people living in the same house under the normal rental property rules.  6 or more with with a full time staff member falls into another category and might have some requirements you didn't think of, like a fire suppression system.  Just saying, better dig a little deeper so you know what you're getting into.