New to Real Estate · Bozeman, MT · Member since 2024 · 38 posts · 7 votes
Hello BiggerPockets,
I am new to this community and excited to learn all I can about real estate. I am curious about wholesaling and sober living homes. What do you guys recommend to get started to learn about these strategies?
Banker · Nationwide · Member since 2020 · 2k+ posts · 1k+ votes
7mo
Dominic,
I usually tell all of my investors to start by doing a self check meaning get with a Mortgage Banker and crunch the numbers. Start by checking your ability to get a quick quote on a mortgage based on your credit, income and assets. It's much easier to buy a home and convert to a "Sober Living" or ALF type business if you already own the home versus trying to buy it as a commercial business.
Its also a much more cost efficient approach versus a nightmare "Subject to" contract or Owner finance where you open yourself up to other peoples problems like probate, litigation, seller remorse or unforeseen family drama last minute or after death of seller who is still holding note.
I just completed one for a client in Oregon who purchased it as a Second Home to put less money down and converted it after the fact and changed vesting to LLC. If you ever have questions feel free to check out my profile or send me an email. Always happy to help other Bigger Pockets members get on the right path to avoid lost time and money.
I usually tell all of my investors to start by doing a self check meaning get with a Mortgage Banker and crunch the numbers. Start by checking your ability to get a quick quote on a mortgage based on your credit, income and assets. It's much easier to buy a home and convert to a "Sober Living" or ALF type business if you already own the home versus trying to buy it as a commercial business.
Its also a much more cost efficient approach versus a nightmare "Subject to" contract or Owner finance where you open yourself up to other peoples problems like probate, litigation, seller remorse or unforeseen family drama last minute or after death of seller who is still holding note.
I just completed one for a client in Oregon who purchased it as a Second Home to put less money down and converted it after the fact and changed vesting to LLC. If you ever have questions feel free to check out my profile or send me an email. Always happy to help other Bigger Pockets members get on the right path to avoid lost time and money.
Hi Mr. Wray, Thank you for the wonderful response. So you recommend buying a home and converting it to a ALF? What about sub-leasing or renting the home?
I am new to this community and excited to learn all I can about real estate. I am curious about wholesaling and sober living homes. What do you guys recommend to get started to learn about these strategies?
Thanks,
Dominic Jean
Hey Dominic — welcome! A good place to start is building a solid foundation in deal analysis, market comps, and cash flow fundamentals before diving into niche strategies like wholesaling or sober living homes. For wholesaling, focus on understanding ARV, estimating rehab costs, and learning local contract/assignment laws. For sober living or other specialized rentals, research regulations, licensing requirements, and local demand — these can vary widely by state and city. Spend some time analyzing 10–15 properties in your target market to see what actually works. If you want, feel free to PM me and I can share tips on how investors evaluate both wholesales and niche rental opportunities from a numbers-first perspective.
I am new to this community and excited to learn all I can about real estate. I am curious about wholesaling and sober living homes. What do you guys recommend to get started to learn about these strategies?
Thanks,
Dominic Jean
Hey Dominic — welcome! A good place to start is building a solid foundation in deal analysis, market comps, and cash flow fundamentals before diving into niche strategies like wholesaling or sober living homes. For wholesaling, focus on understanding ARV, estimating rehab costs, and learning local contract/assignment laws. For sober living or other specialized rentals, research regulations, licensing requirements, and local demand — these can vary widely by state and city. Spend some time analyzing 10–15 properties in your target market to see what actually works. If you want, feel free to PM me and I can share tips on how investors evaluate both wholesales and niche rental opportunities from a numbers-first perspective.
Hi Mr. Camara, Thank you for the great response I appreciate it! I will reach out if I ever have any questions thank you.
I am new to this community and excited to learn all I can about real estate. I am curious about wholesaling and sober living homes. What do you guys recommend to get started to learn about these strategies?
Thanks,
Dominic Jean
The best way to start is by learning the basics of cash-flowing rentals first, even if it's just paper deals or analyzing MLS listings. If you're open to out-of-state options, a lot of new investors are pivoting to Midwest markets where you can grab duplexes and small multis well below replacement cost and actually cash flow from day one. That way, you can experiment with strategies, build experience, and see real numbers without overpaying or getting stuck in competitive local markets.
I am new to this community and excited to learn all I can about real estate. I am curious about wholesaling and sober living homes. What do you guys recommend to get started to learn about these strategies?
Thanks,
Dominic Jean
The best way to start is by learning the basics of cash-flowing rentals first, even if it's just paper deals or analyzing MLS listings. If you're open to out-of-state options, a lot of new investors are pivoting to Midwest markets where you can grab duplexes and small multis well below replacement cost and actually cash flow from day one. That way, you can experiment with strategies, build experience, and see real numbers without overpaying or getting stuck in competitive local markets.
Investor · Washington D.C. · Member since 2010 · 48 posts · 21 votes
7mo
Hey Dominic this is a great question and I would highly recommend starting with wholesaling either single-family rentals or commercial and multifamily properties. When first starting the most important thing is just to get the experience the reps and to take the time and to build the proper relationships and systems and processes that will help you reach your goals. Always study sales, marketing and negotiation tactics because you will use them later on. You may not have an idea of what you want to do when you first start off, but just by having the experience, networking with people, and educating yourself you will see where what you learned in applied knowledge to the field will greatly help you. Hope this helps.
Hey Dominic this is a great question and I would highly recommend starting with wholesaling either single-family rentals or commercial and multifamily properties. When first starting the most important thing is just to get the experience the reps and to take the time and to build the proper relationships and systems and processes that will help you reach your goals. Always study sales, marketing and negotiation tactics because you will use them later on. You may not have an idea of what you want to do when you first start off, but just by having the experience, networking with people, and educating yourself you will see where what you learned in applied knowledge to the field will greatly help you. Hope this helps.
Mr. Coleman, Thanks for commenting on my question. So you recommend just getting experience and building key skills to help build the business?
Hey Dominic this is a great question and I would highly recommend starting with wholesaling either single-family rentals or commercial and multifamily properties. When first starting the most important thing is just to get the experience the reps and to take the time and to build the proper relationships and systems and processes that will help you reach your goals. Always study sales, marketing and negotiation tactics because you will use them later on. You may not have an idea of what you want to do when you first start off, but just by having the experience, networking with people, and educating yourself you will see where what you learned in applied knowledge to the field will greatly help you. Hope this helps.
Mr. Coleman, Thanks for commenting on my question. So you recommend just getting experience and building key skills to help build the business?
Your welcome! Yes absolutely it will help you gain some clarity. Feel free to message if you want any more tips, always happy to help.
Hey Dominic this is a great question and I would highly recommend starting with wholesaling either single-family rentals or commercial and multifamily properties. When first starting the most important thing is just to get the experience the reps and to take the time and to build the proper relationships and systems and processes that will help you reach your goals. Always study sales, marketing and negotiation tactics because you will use them later on. You may not have an idea of what you want to do when you first start off, but just by having the experience, networking with people, and educating yourself you will see where what you learned in applied knowledge to the field will greatly help you. Hope this helps.
Mr. Coleman, Thanks for commenting on my question. So you recommend just getting experience and building key skills to help build the business?
Your welcome! Yes absolutely it will help you gain some clarity. Feel free to message if you want any more tips, always happy to help.
Hey Dominic this is a great question and I would highly recommend starting with wholesaling either single-family rentals or commercial and multifamily properties. When first starting the most important thing is just to get the experience the reps and to take the time and to build the proper relationships and systems and processes that will help you reach your goals. Always study sales, marketing and negotiation tactics because you will use them later on. You may not have an idea of what you want to do when you first start off, but just by having the experience, networking with people, and educating yourself you will see where what you learned in applied knowledge to the field will greatly help you. Hope this helps.
Mr. Coleman, Thanks for commenting on my question. So you recommend just getting experience and building key skills to help build the business?
Your welcome! Yes absolutely it will help you gain some clarity. Feel free to message if you want any more tips, always happy to help.