Business
Andy and Brandon of Group Home Riches join us to talk about their chosen niche in real estate investing—they invest in group homes, care homes, and spaces for assisted living. Through this model, they provide affordable and cooperative housing for different demographics of people, including veterans, the elderly, people with special needs, and more. They’ve been in the niche since 2006, and have simultaneously grown their business to massive success while helping people in need. Tune in to this episode to learn more about this unique business model! Key Takeaways: [01:54] Introducing Andy & Brandon and venturing into group home real estate [09:31] Group home investing: how payments work, the screening process, and working with caseworkers [16:12] The typical financial situation and ROI in group home investing [20:12] Managing group homes: handling turnovers, financing, evictions, the similarities with short-term rentals, and hiring a property manager [29:23] Traits and habits of successful investors [33:41] Lessons learned over the years and how they’ve changed as investors [40:51] Connect with Andy, Brandon, and Group Home Riches Guest Links: Group Home Riches: www.grouphomeriches.com Show Links: Living Off Rentals YouTube Channel -https://www.youtube.com/c/LivingOffRentals Living Off Rentals Facebook Group -www.facebook.com/groups/livingoffrentals Living Off Rentals Website -www.livingoffrentals.com Living Off Rentals Instagram -www.instagram.com/livingoffrentals Living Off Rentals TikTok - www.tiktok.com/@livingoffrentals