Episode 263 - Real Estate With Purpose: Building Sober Living Homes & Grants Explained with Jim Boad

What if real estate could rebuild lives while building lasting wealth? In this 45-minute episode of Invest2FI, host Craig Curelop welcomes back real estate investor Jim Boad for an in-depth conversation about scaling success through trust, discipline, and purpose. Jim shares how he pivoted during COVID from struggling rentals to sober-living group homes that blend community impact with strong returns.

Operating in a small Washington market near Olympia, he explains his model of five-bedroom, three-bath homes renting for $700 per bed, often partnered with recovery clinics and DOC reentry programs that prepay several months in advance.

Jim also discusses leveraging $100K–$200K grants, launching a 501(c)(3) nonprofit, and working with private lenders at two points and ten percent interest to fund and scale 18 new builds. This episode reveals how purpose-driven investing can generate both financial freedom and meaningful community change.

PODCAST HIGHLIGHTS:

[03:42] Craig tees up the sober living deep dive with Jim’s backstory.

[04:00] COVID nonpaying rentals force Jim to pivot toward group homes.

[5:24] Buys a $500 coaching course overnight and launches within a week.

[07:39] Converts rentals into sober living homes and adds extra bedrooms.

[09:41] Payment totals $2,700 monthly; collects $7,000 using per-bed rent.

[11:03] Residents’ stays are prepaid for two to six months by recovery programs.

[12:01] Operations manager Shay handles calls, phones, and food support.

[15:31] Random drug testing; any failed test leads to immediate removal.

[18:00] Explains the drug-free rule to maintain state and grant compliance.

[20:47] Research areas by mapping local clinics and case manager networks.

[24:03] Expands via referrals from agencies impressed with his housing quality.

[27:36] Keeps furnishing simple, durable furniture, storage, and ready rooms only.

[28:12] Secures $200,000 in grant funding and forms a 501(c)(3) nonprofit.

[30:26] Grants fund operations, staff, utilities, and resident scholarships.

[32:26] Now building 18 homes, start two, refinance, then repeat the process.

[34:20] Private lenders fund projects at two points and ten percent interest.

[34:51] He met his main lender at a bar, proof that valuable connections can happen anywhere.

[36:16] Keeps 30–35% equity to build long-term legacy instead of chasing quick profits.

[41:37] Advises new investors to start small and build credibility through consistency.

[42:26] Success story: one property doubled in value through patience and discipline.

HOST

Craig Curelop

📸 Instagram: https://www.instagram.com/thefiguy

📘 Book: https://store.biggerpockets.com/products/the-house-hacking-strategy

🏘️ Buy Real Estate: https://bit.ly/3V3QDze

GUEST

Jim Boad

📱 Facebook: https://www.facebook.com/profile.php?id=61567072777563

💼 LinkedIn: https://www.linkedin.com/in/jim-boad-aba962b5