Business Plan Template for New Investors

[Scott Trench]

I was meeting with an aspiring investor today. 

This individual is really crushing it - he spent over 10 years in prison, and since release in 2019, has been grinding to get ahead and transform his life. He works two jobs, night shift AND day shift, and has for years. Paid off a ton of debt, saving, and wants to house hack sometime  next year - this is very realistic for him as he has plenty of income to qualify. 

When we were talking today, he had the great idea to get into running a sober living operation - his day job is as a coach for individuals, many of whom are parolees, or who struggle with addiction, and his night job is currently overseeing a facility that houses many of these people. Many nights, there is a lot of downtime, and he is able to crush BP Podcasts and books, and has listened to hundreds of episodes. Some nights, he has to break up fights or save people who are overdosing. 

Anyways, he couldn't be better equipped to house-hack a sober living facility. There's a ton of rent by the room potential, a great mission, and as the owner/operator, he could help more people, more directly than with his current night job, and there is a path to expanding the operation to multiple properties over time.

He has plenty of savings (two jobs puts him nearly in the six-figure income range) and is well-qualified to purchase in Q1 2023. 

I think it would be really helpful to put together a "business plan" while he does his research to prepare for a purchase early next year, but was embarrassed to say that I don't really have a good template for real estate investors. 

Does anyone have an example/template real estate investing business plan that they could upload to our fileplace or link to? I think this could be a valuable resource to help dot the is and cross the ts on a first purchase. 

Thanks in advance!