Short excerpt from a YouTube talk advising prospective sober living home operators to perform local market research before investing. The speaker recommends consulting treatment centers and county programs serving substance use and mental health to determine demand and whether to buy or lease, and to secure potential renters/users before committing to property expenses.
But others you might choose, like, hey, I'm just going to buy in my area in Texas, or in, you know, Georgia. We have a lot of students in Georgia, in South Carolina, North Carolina, and that's totally fine. What I would do and what we always recommend is actually go to the source first. Go to the treatment centers, go to the local county programs that work with people who have substance use disorder or mental health disorders, because it is considered one, and ask where do you have a need for housing like this? And that way you can determine, number one, does it make sense to own there or to lease there? And number two, will there be demand to fill it once you have it open? So we always start by doing that market research first, asking those questions, among many other questions, and making sure that we actually have a buyer, somebody to use our service before we ever offer it and make a big commitment and spend a lot of money or put a down payment or all that stuff on the property. Start there. Just ask those questions to the local organizations.
