Please join Attorney Kim Lisa Taylor and co-Host Krisha Young as they interview Devana Came and Reid Stadelman. Our guests will tell us how they have created sober living facilities that provide both a community benefit and rental income. This is part of our Beyond Multi-family series, where we introduce our audience to alternative asset classes that they can turn into profitable business models (or you can just invest with our guests).
Introduction to Sober Living Housing and Personal Motivations (00:00:02)
Krisha Young introduced the podcast and guests Devana Came and Reid Stadelman. Devana shared her personal connection to addiction through family experiences and her motivation to create better sober living environments after seeing inadequate facilities.
Operational Structure and Community Living (00:04:13)
Devana explained how sober living houses function as mutually supportive environments, with residents typically coming directly from rehab facilities. She described management practices, including meeting attendance requirements and house cleaning responsibilities.
Neighborhood Relations and Legal Considerations (00:09:32)
The guests discussed their experiences with neighborhood relations, including dealing with pushback from neighbors and legal protections under the Federal Fair Housing Disabilities Act. They emphasized the importance of being good neighbors and maintaining property standards.
Financial Aspects and Investment Considerations (00:38:07)
Devana and Reid discussed the financial aspects of operating sober living facilities, including potential income levels ranging from $850 to $3,500 per bed depending on location. They emphasized the importance of maintaining quality while achieving profitability.
Future Plans and Expansion (01:01:38)
The guests shared their current operations of four houses with 71 beds, soon expanding to 76 beds. They also discussed plans to add residential assisted living to their portfolio to help with elderly care.
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