All Forum Posts by: Zachary Salerno

Quote from @Jerome Morelos:

I would look for a home with an existing ADU like you mentioned. I also would look into the MTR strategy. ADU's are perfect for traveling professionals. So look for one within 5-10 miles of a level 1 or level 2 trauma hospital. After a year, you can move out the ADU and rent it as a MTR to supercharge your cash flow. This is what I'm currently doing and I also live in an expensive market (SoCal)

I am also in SoCal. Did you use an FHA loan to purchase your first property? My plan is to use FHA loan then Refinance after a year and use the refi money to put a down payment on another house. Sound solid?

What does primary mean? If I'm going to buy a house for my family to own through FHA that would be my primary right? After a year if I refinance could I buy another primary residence? Forgive me for any stupid questions or being off topic I'm new too.

Thank you for your reply! We are just really familiar with this area and know they ship people from out of state to go to rehab here. However We do not want to get tunnel vision and will explore all options. Hopefully identify a need and then try and fill it. Thanks again Alecia!

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?

Thank you for the solid advice! We don’t know the first place to start so the things you mentioned are great starting points for us to at least keep moving forward in the right directions. We are in SoCal and want to move out of state to live a different lifestyle and raise our family. However we think the smartest place to own a sober living would be Southern California given the recovery scene out here. 

Thank you so much for the advice Jim we’ve been chomping at the bit to see what more experienced people have to say. We will definitely be doing our homework on this. Sounds like a great opportunity. The trouble is we want to raise our family out of state but feel the smartest place to own a sober living is SoCal.” Thanks again-Zach

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.

Hello my name is Zach. My wife 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.

Hello my name is Zach. My wife 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.