Zach and Lauren first time home buyers!

Zach and Lauren first time home buyers!

Orange County · Member since 2024 · 17 posts · 1 vote

Hello my name is Zach. My wife Lauren and I have a goal to one day own a home and open a sober living. We have no experience or knowledge of anything real estate related and our plans/goals are in their baby stages. We have never owned a home and will be first time buyers. We are eager to hear any tips/advice on learning the ins and outs of buying a property to then open a sober living home. I will mention I have been in recovery for the past 9 years and know how to manage the daily operations of a sober living. But licensing,zoning,insuring, owning and operating one are a different story.

This is what my initial plan is (This is all in theory) To enter a new buyer program to purchase our first home using both of our tax return dollars. I have heard of no money down options as well. Live in the home for a year whilst waiting to be approved for licensing to operate a sober living. At or around the year mark take out a loan on our new home and use the loan to buy a new property. Then using our first home as a sober living using rent to pay the first mortgage. Let me know if this is a sound investment and plan or if it is a delusion. All critiques or reality checks are welcome.

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  • Julio GonzalezPro Member
    Specialist · West Palm Beach, FL · Member since 2008 · 4k+ posts · 1k+ votes
    2y

    Hello Zach! Your goal to own a home is truly inspiring. Your determination and unique perspective, coupled with the community's insights, can pave the way for a sound and fulfilling investment.

    -Julio

  • Orange County · Member since 2024 · 17 posts · 1 vote
    2y

    Thank you Julio. I hope to learn as much As I can and be coachable. What would you say our first step should be when we find the location we want to buy? Talk to an agent and discuss loan approval?

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