Too big too fast?

[pfund2233]

I have been doing daycare for 1.5 years now and have 4 GREAT DCK. I'm thinking of rolling this idea past my hubby and wanna know what you think!

I'm thinking of buying/building a duplex that my family can live in one side and daycare can be ran from the other. By doing this I can take in more kids as I would have more sq. footage hence making more money. I can currently purchase a nice (2br 1bath each side. side one is 1100sq and side 2 is 950sq) duplex for $130,000 making my monthly payment roughly $800 a mo. Or rent both sides of another for $1400 a mo.

We are currently paying $650 to rent a 4br 1bath house with 1500sq. This house can be a money pit tho. Last winter our heat bill was roughly $300 a mo from Nov - March!! I currently bring in $425 a week with daycare (after taxes) if I could take my kids on my wait list (5) It would bump to maybe $850 a week.

Just in the brain storming stages right now. What do you think or what would you do?

[AnythingsPossible]

Would you have to hire an assistant to take more kids?

Is it a multi level duplex, and if so, would your licensing allow you to use both levels? Would there be an issue with an HOA or anything like that that wouldn't allow you to run a business out of the home?

Our state will license people for 10 on their own, depending on space of course, and I have operated at that capacity before, but for me it was difficult. I am very comfortable with 6, and any number that goes over that, stress goes up alot for me. I have been doing daycare for 9 years, and know what my comfort level is. I could easily have the 10 kids if I wanted to, but I know I work better with lower numbers. Something to consider.

[DaycareMama]

I would speak to the families on your waiting list just to make sure that they haven't already found other care.... Just to be safe. You want to make sure that income is there before you do anything. IMO