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Recognizing Opportunity

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triple J

New Contributor
Aug 8, 2007
Utica, NY
Part of being a good entrepreneuer is recognizing a need and filling it. For those of you who do not know, I live in Utica, NY moving here 3.5 years ago from Dallas. My husband is from the area and has an extreme love for it. Utica has gone through very rough times but has improved over the last 10 years.

One of the most interesting and best things Utica has going for it is its great ability to recruit refugees to the area. Utica has one of the highest refugee population ratios in the country. Recently, an article was written in Readers Digest on the subject I live smack in the middle of the Bosnian part of the city who took refuge here in the 90's. I was told we should be expecting approx. 3000 Iraqi refugees next year- it might be less.

I have been in contact with the refugee center in getting refugees in some of my apartments but it hasn't happened yet. The center has called me, for example, on a Monday saying a family is arriving and they need a place by Wednesday. I've never had anything available.

My question is: What is the need and how would you fill it? 1. In making a profit (it seems greedy to think about)? 2. To help these people who have been through so much and who breath life back into a city that I love?

Ideas? Suggestions?

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Read Millionaire Fastlane
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Speedway Pass
Jul 27, 2007
Washington DC
Could you setup a non-profit that owns some properties that will be used for short-term rentals, having thus the deductions from the non-profit status to offset part of your other income? By virtue of the type of renters you should be facing high vacancies during some periods so this "loss" can be used to your advantage, all while providing a great service to the community.
Maybe Diane Kennedy can provide some suggestions about this idea.

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