Инвесторы из Мичигана создали бизнес по аренде жилья для реабилитации и сократили рабочее время

As a social worker, Scott Steenbergh never seemed to be able to clock out. "The hours were always tough," the Michigan-based investor and father of two told Business Insider. "It seemed like, no matter what, I was always required to work in the evenings, work on weekends. People were obviously in crisis, and I want to help, but I also wanted to be able to be present with my kids." Real estate investing seemed like a possible path to more time freedom. Steenbergh and his wife, Rebecca, had a little experience — they owned their primary residence and had become part owners of a family Airbnb — but dove in around 2020 when they enrolled in a real estate investing course called Zero to Freedom. After taking the course, they bought a short-term rental in Caseville, Michigan, financing it with a second-home loan and about 10% down. The property took off. "Within 20 days, we had it booked for that whole first year, and then into the second year," Steenbergh said. From Airbnb to sober-living rentals The Airbnb's performance convinced the couple that real estate could become a meaningful source of income. Rather than build a portfolio entirely of short-term rentals, they decided to diversify into sober-living, or recovery housing. It was a natural fit for Steenbergh, who said he dealt with addiction in his 20s and has worked in addiction treatment since 2012. "It seemed like a way to be able to invest money and also provide services to people," he said. In 2022, the couple bought a single-family home, converted it into a recovery residence, and, ever since, "we have been at 95% or 100% capacity," he said. They continued expanding and now operate six sober-living properties in addition to two short-term rentals. Business Insider verified their ownership of the properties by reviewing the quitclaim and warranty deeds. The economics of sober-living rentals differ from those of typical single-family rentals because residents rent individual beds rather than an entire property. People commonly enter sober living after leaving inpatient or residential addiction treatment, Steenbergh said. Some are unhoused, while others want more structure before returning to their previous living environment. Residents in his homes typically stay about six months, though some have stayed longer than two years. Residents' housing costs can be covered in several ways. Some pay a daily rate themselves, while others have part of their stay paid through government contracts or grant-funded assistance programs. That outside funding can give residents time to focus first on recovery, then on finding work and saving money before taking on housing costs themselves. Higher returns, but more work Renting by the bed means a large single-family house can generate significantly more revenue than renting it to one household. Across the Steenberghs' six sober-living properties, they have 64 active beds. Steenbergh said he considers roughly a 10% cash-on-cash return good for a conventional single-family rental and 20% to 40% good for an Airbnb. His sober-living properties, by comparison, have generally produced cash-on-cash returns of 50% to 75%, he said. Cash-on-cash return is the annual cash flow you earn compared with the cash you invested. As a safety net, Steenbergh tries to ensure that a property could still work as a conventional rental before buying it. "What happens if, for some reason, the township or municipality doesn't want us to do sober living?" he said. He wants to know whether he could "live with the downside" by either renting the property to a single household or selling it. The higher returns do come with tradeoffs. "There's a lot more wear and tear to the property than is typical," Steenbergh said. He also underestimated some mundane costs, including how many appliances, such as refrigerators, a house with many residents would require. Operating recovery housing can also involve challenges conventional landlords rarely face, such as responding when a resident relapses or arrives intoxicated. That complexity is one reason Steenbergh cautions investors against pursuing the strategy solely for its potential returns. His years in addiction treatment gave him experience with recovery housing, residents' needs, and the systems required to respond when problems arise. Real estate now covers their lifestyle For Steenbergh, the strategy has accomplished what initially drew him to real estate: more control over his time. Today, he works as a clinical social worker at an outpatient clinic he founded and chooses how much clinical work he takes on. "I define it as semi-retired because the real estate portfolio allows for me to see patients as I choose," he said. So far this year, he has taken three full weeks off each quarter. Rebecca also left her job as a veterinarian and now focuses on the couple's real-estate business. The investments have changed their lifestyle in other ways, too. They've purchased what Steenbergh calls their "dream home" and have more money available for travel. For readers hoping to use real estate to improve their own finances, Steenbergh's advice is to start with mindset and education. "Instead of asking, 'Why can't I do it?' ask, 'How can I?'" he said. "Are there funds in my 401(k) I can borrow against? Is there some other way that I can get a down-payment loan or something like that to make this work for me?" Just as important, he said, is learning how to evaluate investments before putting money into them. The Steenberghs started with a real-estate course and continued learning through investor communities and their own trial and error. "I didn't have that skill five years ago," he said. "I have a ton of experience now, in addition to the skill, but I had to learn that somewhere."