It has been a while since we wrote in this blog here at Group Home Riches. What have we been doing? Well, we have been busy running our day-to-day business which involves looking for more group homes to acquire along with other real estate and business endeavors, and creating an awesome group home business plan. That is the beautiful thing about the Special Needs housing industry.
If you start a special needs housing business or a Group Home business, you have the opportunity to focus on additional income and revenue streams. Although we are not huge proponents of “flipping” real estate, what you will find is that after you build out your group home team- manager, porter, housekeeper and all the trades associated with keeping the place up to par (HVAC, electrical, tape/float, sheetrock, flooring, paint, etc.) you will pretty quickly be able to handle the general contractor related duties if you want to flip something. But to do all of this you will need a group home business plan.