Sober Living Rentals...

[Antonio Easter]

How do I rent properties to Sober Living?

Listen, I'm not looking for your opinion on drug addicts, either your opinion on what you THINK the neighbors will think or feel about  a Sober Living house being in their neighborhood.  

I'm looking for valuable replies, not for aimless replies to stoke the ego of the one leaving it.

Thank you.

[Brian Oconnor]

Check out oxfordhouse.org. There are laws protecting the sober living house from "nimby's" but you might be limited to how many unrelated people can live under one roof. Depending on how involved you want to be as a landlord you can run it yourself or associate with a group like oxford house. there are tons of good youtube videos about oxford house and check out the Depaul University research about oxford house. Any way, as an REI you can 2x - 4x your cash flow by renting by the bed and putting 2 beds per room. The 4-5 Bed / 4+ bath's underwrite well in my area of the Southeast. I'm underwriting cash flows of 875 - 1220$/ month with CoCROI's 10-16% with paying asking price in my calculations. At least with oxford house -- the house is self governing meaning house officers make sure all utilities and rent are paid on time. The rent is the rent no matter how many beds are filled so the house is incentivized to keep the house full with people serious about sobriety and paying bills on time to minimize each persons monthly rent. Oxford house has policies and procedures with 10pm curfew, mandatory AA/NA meeting attendance, job/school attendance, daily house chores so the house should be the cleanest and quietest on the block. If any tenant fails a drug test they are immediately booted no questions asked and no eviction protections because the lease is signed with "oxford house" and not individual people. If you have a heart to help these recovering addicts then it'll be a rewarding and lucrative endeavor. Do your research and ignore the haters.