$90,000 in cash flow with one creative real estate investment!? It’s possible, with sober living! We often focus on shortterm rentals, longterm rentals, or fixandflip properties. But one of the best things about choosing real estate as an investment medium is its wide range and opportunities for creativity. People out there are house hacking, wholesaling, investing in mobile homes, and buying up parking lots. The options are truly endless.

So, where do we start? Sometimes, the best real estate investments are the ones that mean something more to us than cash flow. Devana Came and Reid Stadelman saw a gap in their community, and they filled it. They turned their real estate investment into a sober living facility to help people in recovery, and gave them a safe, structured place to stay while earning (mostly) passive income and building their investment portfolio.

In this episode, this husband and wife dynamic duo tells us all about their creative real estate investments that cash flow like nothing else. We talk about what a sober living facility is (hint: it’s not a rehab center), how and why they built theirs, how to find and screen tenants, and tips for reducing tenant turnover rates. These things don’t just apply to sober living facilities. Devana and Reid offer advice that applies to any real estate investment journey.

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Join BiggerPockets for FREE
https://www.biggerpockets.com/signup?...
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Join the Real Estate Rookie Facebook Group:
  / realestaterookie  
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Find an InvestorFriendly Agent in Your Area:
https://www.biggerpockets.com/agent/m...
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How to Start a Sober Living Home:
https://www.biggerpockets.com/blog/so...
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Resources Mentioned in Today’s Episode:
The National Alliance of Recovery Residences (NARR): https://narronline.org/
House of Ruth: https://houseofruth.org/
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Connect with Devana and Reid:
Email: [email protected] or [email protected]
Instagram: @investingmama or   / investingmama   and
@beeorganicmama or   / beeorganicmama  
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Connect with Ashley and Tony on BiggerPockets:
Ashley: https://www.biggerpockets.com/users/e...
Tony: https://www.biggerpockets.com/users/t...

Episode #265

Show notes at: https://www.biggerpockets.com/blog/ro...

00:00 Intro
05:42 Couples Who Invest Together
09:56 Creating Sober Living Facilities
13:00 Devana & Reid's Portfolio
16:09 An Investment Property With A Waiting List
23:26 Managing Sober Living Facilities
28:40 Finding & Screening Tenants
34:47 Choosing the Right Type of Property
41:41 Rookie Deal Review
53:27 Rookie Request Line
58:20 Rookie Exam
01:00:02 Rookie Rockstar
01:00:39 Connect With Devana & Reid!