Anyone try sober living home?

[Justin Sofman]

Hi all - I’m kicking around the idea of buying a big single family home and offering housing for sober living. People in recovery need a place to stay free of drugs and alcohol. From what I understand, it’s common to place 2 beds in each room and charge weekly/monthly. Returns are higher but the downside is that it’s more hands on. 

While my primary goal is to make money, I have a soft spot for those with addiction. I see this as a chance to do some good and make better money than if I were to go the traditional route. 

Anyone tried their hand at a sober living house? I’m finding it difficult to find examples of people doing this. 

Thanks in advance BP!

-Justin

[Jason Wray]

Have you looked into the comprehensive and liability insurance for that type of property/business?  I have seen several fail due to lawsuits and insufficent coverage.  Have you looked into assited living facility as they are far more profitable?

Sober living facilities can carry a higher insurance cost plus riders due to liability and likelihood of predictable behavioral issues. (Not all states).