Does The Government Provide Financial Assistance For People who are Starting Group Home?
In one simple answer: YES!
The US government at both a local and state level funds thousands and thousands of providers on an annual basis. In fact, if you go to google and type something in related to the above article title, you will literally find hundreds of links related to obtaining funding for your next group home, transitional living home, care home, shelter or assisted living center. Remember, the government will HELP YOU, if you help those in need!
To give you an idea, the department of health and human services, has a program referred to as Runaway and Homeless Youth Transitional Living Program. I just looked this up on google and it looks as though their latest appropriation was over $39,000,000. Would you like some of that money? Well the good news is that there is plenty of it to be had! However, you need to know how to write a business plan that will actually get you funded! (don’t worry, we have done this personally and have received millions of dollars in loan money as a result and can help you with this aspect of things)
There are literally hundreds of various programs like this throughout the country. Your job is determine who you want to help and then find the government programs that will help you help your target clients. For example, there are many people out there with relatives who suffer from both cognitive, behavioral and physical health conditions. For those of you wanting to help this population, you are in luck! This is one of the most financially rewarding niche markets to operate within. Throughout Texas, Tennessee, Wisconsin, California and elsewhere; local governments will provide payments on a per-person basis. And fortunately for you, the amount of money will more than cover and offset your costs!
What do I mean by this? Well, the numbers are going to be different depending on what par tof the country you live in. Typically, the amount per day will range from $250 – $750 per client. Again, this all depends on where you operate what type of facility you operate and so forth. However, if you take a look and do some research on ICF facilities in Texas, you will understand why this can be so lucrative when the average rates are between $450 – $470 per day! Now do the math: 30 days X $450 = $13,500 per client. If you have 6 clients in one home you are bringing in over $81,000 per month!
http://www.garloward.com/2009/10/19/texas-register-updates-icfmr-dbmd-class-etc/
This is just one example of an extremely lucrative rewards for starting group home. Again, these are all small sub-sectors or niches within the real estate business! And I am here to tell you that you can do it. In our guidebook, we give you a step-by-step instructional outline of how to get started and what you need to do to make this a profitable side business or passive income stream that allows you to help others while simultaneously helping yourself and your family!
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 course on starting your very own income-generating group home by entering email below.
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