We have helped countless people from many different backgrounds, places, and socioeconomic classes, build successful group homes. Once anyone builds their business, they always come back to us and tell us that they can’t believe they waited so long to start. Most people get the idea to start their group home and take MULTIPLE years to take action on that idea. Every year that you wait is $200,000 in additional income that you are potentially giving up. Fear can be an amazing driving factor but you have to use it correctly. Fear can be the slingshot to send you forward or the wall to block your success.
How Are You Missing $200,000?
- 3 Bedroom House
- 2 People per room
- House can have six renters
- Charge of $600 per month
- $3600 per month
- You are easily capable of doing this with five homes in your area
- $3600 x 5 = $18,000
- $18,000 x 12 months = $216,000 gross revenue
Above is the simple math of this business. We are not trying to make this black and white as there are things that can make it more complicated. But the reality is that there is more of demand for group homes then there are people who run them because people are too fearful to start, or because they are scared the government won’t pay them.
We clearly would not suggest starting with five homes. All you need is one to start, but you quickly see with one group home that the possibilities are endless. Why let fear hold you back from changing your life?
Nothing is more satisfying to us at Group Home Riches than seeing someone finally tap into their financial potential and be able to quit their job and live off of the $1500+ per month income that their group home business brings in. The beauty of this business is that if you want something small you can start with one two-bed room house and just have a side income to supplement your current job. While there are others, who want to quit their job altogether and make as much money as possible. We can help you do both!
How to Overcome Fear
Small Actions
How do you eat an elephant? One bite at a time! That is exactly how you tackle your fears of starting a group home; you just take one bite at a time. A great first step is reading this blog posts, and then going through our 10-step eBook. Then after that, you want to get into the membership site to start learning. You just keep taking more bites and before you know it you are making an extra $2200 per month.
What is your next step? Take it now!
Face it
You have to admit what you are afraid of if you want any shot at addressing it and making it go away.
- Are you reminded of past failures?
- Are you scared you don’t have enough money?
- Will your family not support you?
- Do you think this is a get rich quick scheme?
- Are you not a risk taker?
Whatever your reason, you can let us know! We would like to help you. The things we fear are often illusions, but we don’t realize it because we never face them. Fear is more about the story you tell yourself in your head then what is actually true.
You have to get used to going directly at your fears. If you think you don’t have enough money, take the time to figure out how much money you even need to start a group home. It may surprise you what you can do when you just look straight at your fears.
Shine Light On Them
Remember the boogeyman? Were you scared that he was going to jump out of the closet and get you? When you shine a light on dark, you quickly realize that there is nothing to be scared of though.
Investing money is often like this. It is a lack of education that is scary. The most millionaires and billionaires have come from being investors. Real estate has created more millionaires in America than anything else. If that is the case, then why do we see investing as a risk? Putting your money in a savings account with horrible interest rates, now that is a risk!
Whatever your fears are, they will start disappearing quickly the more help you get with starting a group home. You will realize that by learning from our membership site that a lot of your fears just took having a bit of mentorship to navigate it.
Stop Making Excuses
- Not sure whether to rent or buy
- I will start the second I get my license
- I am still trying to get a permit
- Where do I find clients?
All of the above reasons are common reason to procrastinate starting a group home. No business is figures everything out before starting. If you plan to have every single detailed figured out, you will never start because you will never feel ready. There will always be something else to learn!
Whar are you waiting for to get started? In the Gold package of our membership site, we have an entrepreneur course that will 100% get you ready for this journey. Push fear aside and figure it out as you go!