Entrepreneurs

Nacki, MSN, NP · Mar 13, 2015

What exactly do you want to do? Start a clinic or something else?

Rod, Male Nurse · Jan 11, 2016

Im curious if you ever ventured out on your own or have you come up with any ideas? I am finishing my last year of FNP school and started clinicals. So far I am unimpressed with the experience so far. I have always had the entrepreneur spirit so I am always looking to talk business with someone who has my same mind set.

cecej435 · Jan 11, 2016

I'm looking to start my own business as well but still brainstorming on ideas...house call business, concierge service, wellness coach, etc.

Nacki, MSN, NP · Jan 11, 2016

At this point I just want to use my degree to fund other business ventures. I'm most interested in investing in real estate.

xenogenetic · Jan 12, 2016

At this point I just want to use my degree to fund other business ventures. I'm most interested in investing in real estate.

Designer, there is a big push these days towards deinstitutionalization of psych facilities and placing patients into community settings (i.e. their own apartments, group homes, rooming houses). Community ACT teams and Behavioral Health Homes seem to be the the cost effective trend of the future in psych. Buying real estate and catering to this niche market will leave you with a flood of potential tenants and non-profit + state agencies ringing your phone off the hook looking for more apts to house their clients (some have section 8, some have disability, some have the non-profit as their rep payee and serve as their money manager) in...the only bottleneck would be how fast can you continue to supply the demand and buy more properties. Yea, you will get the occasional feces painting on the walls of your apt when a mentally ill tenant decomps, but they are few and far between...squalor + gravely disabled are more common.

Nacki, MSN, NP · Jan 12, 2016

Interesting Xenogenetic,

I'd like to diversify my real estate investments and heard investing in Senior housing was a good market too but haven't heard the psych angle yet.

Are these just single family homes that have room to house such facilities or Apts? How would I advertise to get in this niche market?

twozer0, NP · Jan 12, 2016

Interesting Xenogenetic,
I'd like to diversify my real estate investments and heard investing in Senior housing was a good market too but haven't heard the psych angle yet.
Are these just single family homes that have room to house such facilities or Apts? How would I advertise to get in this niche market?

From someone who has rental properties I can say that you'll need to look at the market and your financial goals before investing. You'll need to determine the type of person you want to cater to by looking at rents in your area. To low and you'll get the people who are statistically more likely to destroy your investment. I opted for a higher market rental in my area and while the client pool is thinner, they are much more professional. I highly suggest looking at corporate rentals as these can be great income. Usually a place that will rent a few months at a time but because of this you can charge increased rents, double, potentially triple the normal rate. My area has several people shipped in for 3+ months at a time. My property currently has good tenants and were at a point where we like the stability (we have small kids, so time to deal with things is limited). More long term I would buy land, and if its huntable, lease it!

I've got so many strategies but you really need to determine what you want financially and what you're willing to deal with before diving in. If you dont prepare, it can be a total headache!