Transitional/Halfway Housing - California - Where to start?
Hi everyone,
I am an OOS investor and Real Estate Agent out of Southern California. I would have never thought or even known this type of investing is a thing, but now I am very interested. I feel this would be a niche in the real estate investing market and a way to give back to the community.
I was unable to find an abundance of information in the forums about this type of investing, so I figured I would create one.
The little that I know:
My friend was a Probation Officer in Southern California and they would send homeless parolees to Transitional/Halfway houses to stay. The government would pay the landlord $90 per head per night. Some of these houses were specific for the time of parolee they would allow stay. For example, one company had 3 houses and they would only allow Male - Sex Offenders. The parolees would obviously be assigned a Probation/Parole Officer as well so as far as the parolees getting out of hand and being a "bad tenant" that would be solved. I know that the startup costs would be much higher than a traditional SFR rental as I would have to pay for appliances, all utilities, etc... however, would this be considered a Non-Profit Organization (NPO) that could qualify for government grants?
To sum this up. Does anyone know more information about this type of investing?
Contacts, podcasts, books etc...? I would love to learn more.
Thank you for reading.