Housing For Special Needs Adults In Group Homes Is Profitable
You may have looked online but not found any real “how to” information about housing for special needs adults in group homes.
Information that can give you a step-by-step process for running and operating a group home for special needs individuals.
If this is something that you have thought about, whether to help out the community, help out someone in your family or even to help yourself financially please keep reading.
Today’s article will focus on the fundamental reason why people operate group homes and how they do it.
The primary reason is a desire to help others and the two ways in which they go about doing so is by either starting a group home or purchasing a group home.
Let’s go into more details about both.
THE PRIMARY REASON WHY PEOPLE START A GROUP HOME:
What we have found is that there are hundreds of thousands of people out there, just like you and I who have family members that have special needs and can’t provide for themselves.
Often times, they are providing for a brother, sister, mother, father, aunt or uncle and in doing so, they wind up coming in contact with agencies around town – maybe the VA or DADS (department of aging and disability services) or another local government agencies or non-profits.
Here in Texas, there are literally hundreds of them, some of the names you may have heard of in are:
These entities exist all over the country, whether you are in Southern California or Miami Florida.
Often times, when the caretaker comes in contact with a social worker, the social worker puts other people in need of housing in touch with the caretaker.
Eventually, a light-bulb may go off and that caretaker may start an actual business helping others by providing them with a place to live.
Although this is an oversimplified version of how the individual may start the company and where they will initially get their clients; this is what typically happens.
The other group of individuals that start group homes are social entrepreneurs that are looking to help out the community despite the fact that they don’t have any direct relatives or friends with special needs.
They are simply looking to help others and in doing so, help themselves.
They typically start their business in a similar manner, often by speaking with case workers and social workers at local hospitals, government agencies and non-profits.
The other faction of individuals that want to help as many people as possible as fast as possible are the people that decide to buy rather than build.
Many existing owners of group homes are extremely reluctant to sell, due to the amount of money that comes from helping others.
However, those who do decide to sell due to retirement or a need for an extremely large capital gain, often times sell to other group home owners or often times very large companies that operate hundreds (sometimes thousands) of group homes throughout the country.
Although it is not nearly as inexpensive to buy a group home as it is to start one, many “professionals” prefer to buy rather than start group homes due to the amount of capital that they already have at their disposal and the ROI that they will receive going forward (we will get into this in future articles).
If you are looking for additional information on how to start a group home, halfway home, transitional living home, sober home, foster home, ICF/MR home, DADS Home or other type of care home for people with disabilities; check out our free, 10-PART course on starting your very own income-generating group home, sober home, disabled vet home or foster home by clicking here or going to www.grouphomeriches.com and clicking on the free wealth building course.
Guest Post By Andy Rothschild
About: I’m the author in residence of RuralMoney.com bringing you the best of my knowledge, skills, abilities, tips and resources. Unfortunately, I am also a person with disabilities. I have severe Rheumatoid Arthritis. I love to share what I know and practice to help others survive and thrive in rural areas. Thank you for your support.
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