How Much Can You Charge For Your Group Home?

If you are like our founder and many group home owners, you are just going to provide housing and outsource any licensed care.
This way, you do not have to go through the costly, confusing, and time consuming process of becoming licensed yourself.
 

 
Your fee is going to be based heavily off the local market. Here is a quick formula you can use to determine how much you can charge:

Figure out how much an average 1 bedroom with water, electric, cable, internet, etc…all bills…goes for in your area, then charge 60% of that for each bed.

This will vary depending on your market but these are our rough numbers:

Average of $1,000 for a 1 bedroom with all bills paid

$1000 x .60 = $600

$600 is going to be roughly how much you can charge each tenant for a roommate situation.

Now let’s say you get a 4 bedroom with a converted garage. You have 5 bedrooms, 2 tenants in each bedroom, and a total of 10 tenants.

Your revenue now is $6000!!

Now, some things to keep in mind to keep you motivated. We just broke down how 1 home can bring in $6,000 right?
Using the same systems that we teach in OUR FREE 10-PART COURSE to cut down on management duties, each operational manager will be in charge of around 15 homes.
This will be YOUR role in the beginning and will definitely be a full time job with that many properties.

But re-read what I just said….each Operational Manager will be in charge of FIFTEEN HOMES. One person, managing 15 homes.

Do some simple math on your phone right now and figure out how much revenue you could bring in if you wanted to dedicate yourself to this full time.

****Hint it’s your monthly revenue of $6,000 in this example, now multiply that by 15. You can then multiply by 12 to figure out your annual revenue***

Do you think that will give you some operational income you could work with to replace yourself with someone to manage your properties and handle all the day to day activities?

Now you can work ON your business and not IN it!

Do you see why our founder can now run his other businesses, work on our blog, and go on vacation whenever he feels like it?
This is the true POWER of this business and on top of that, you will be helping out HUNDREDS of people in need in your community AND eventually building up long term wealth with your Real Estate holdings!