Common Mistakes To Avoid With Your Group Home Business
Warren Buffet once said “We all learn from mistakes, but no one said that they have to be our own.”
I love this quote, and it shows why we need guidance.
This is going to be an ongoing series, so make sure to read this and look out for the next one soon!
Trust me, you would much rather learn from OUR MISTAKES instead of your own!
Don’t Wait Too Long to Start
I am fortunate because I began investing in real estate when I was 22 years old. I purchased a condo for $55,000 with about $2,400 down which I had saved up from odd jobs. Here we are, nearly 20 years later and I still have friends talking about when they are going to get started.
The reality is that there is never a perfect time to get into the game. If you want to hit a home run, trust me, you need someone to be pitching and some balls to swing at. You have to get into the batters box. The reason why we show people how to run care homes, assisted livings and group homes is because it is the ULTIMATE low-to-no risk way of getting into the real estate business.
You can literally start tomorrow by finding organizations in your area that will send you referrals.
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Once you have case workers calling you every week to see if you’re open and you have tenants on your waiting list, you’re going to feel much more confident taking on a new housing payment or partnering with a landlord right?
With one home, you can begin creating a nice income stream or even a supplemental income stream if you already have a full-time job.
Once you get to around 4 or 5 of them, most people can comfortably “retire” from their 9 – 5. Keep in mind, using the FREE 10-PART COURSE, one person can run 15 – 20 of these before it’s a full time job!
You can start just by leasing a property or even with NO MONEY by partnering with a landlord. Even with such a small investment with so much upside and potential, people still don’t get started!
If you plan on waiting until you find that perfect coach or mentor that will take you under his or her wing for free, it may be 5 years, 10 year, 15 years from now. Heck, it may never happen! Isn’t it smarter to just spend the money, educate yourself and get into the game today?
I firmly believe it is. No matter which road you choose, it is going to cost you money. You can spend money today and invest in your future or waste time and lose money in the form of lost opportunities.
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