How Can You Start A Group Home with No Money?
How Can You Start A Group Home with No Money?
Many of you are looking to start a business that you can feel good about to make MORE money. Not to spend it right?
Do you NEED money to make money? It helps for sure, but it is not 100% required. Check out these tips on how you could start a group home with NO MONEY. If you are on a tight budget, or even if you have a significant amount of savings to invest, this will still be helpful as you can use these tips to cut down on your costs.
LEARN THE BUSINESS
Even if you have unlimited funds…you need to do this.
Do some market research to figure out how much you can charge per bed (~60% of an average 1 bedroom rent with all bills in your area).
Figure out who to market to, how to market to them, and start building a contact list to send your marketing material when you are ready to roll.
Get a “licensing” agreement (not a lease, a LICENSE), get set up with a representative payee company, understand WHY you can start right away without a license, then figure out how much revenue you can expect to earn.
You need to understand all of this for the next steps to work. Our Group Home Riches Course will streamline all of this, but you can learn from our FREE BLOG, YOUTUBE, PODCAST, INSTAGRAM, and search your inbox for emails from us. We put out a TON of free, valuable information if you prefer to learn things on your own.
MARKETING
Use yellowpages, google, government sites LIKE THIS, and start to compile a list of social workers, case workers, rehab clinics, hospitals, shelters, transitional programs, non-profits, and social service organizations that serve folks who might be in need of a Group Home. You can cast a wide net and take in anyone who is in need or only organizations that serve a specific niche. Your target market is completely up to you.
You can create free graphics, flyers etc. at Canva.
Use Google Drive to design a database, then Mailchimp so you can email up to 2,000 contacts for free.
HOUSING
This is a way for 1 home to PROFIT thousands after a mortgage or rent is paid. If you can explain the business to someone that invests in real estate, show them that you have a plan…and even tenants lined up if you’ve started to market already…and convey to them that you are the person to implement this plan…you are in business! No investor in their right mind would turn this down if it were presented properly.
Imagine you had a vacant house losing money every month. Then someone came to you with a business that would make you MORE money then renting it out, and you had to do LESS work! You’d be a FOOL to not take that deal, right?
Once you become an ASSET with the knowledge taught in our course, you are now much more valuable to landlords AKA “Real Estate Investors”.
You can then negotiate to lease a property like DUANE DID (CLICK TO LISTEN TO HIS INTERVIEW) or even partner with someone with NO MONEY DOWN, just like SHERL DID (CLICK TO LISTEN TO HER INTERVIEW).
FURNISHING
This does not need to be fancy! Get it set up like THIS, real simple. You can use Facebook fundraising, free sections on Craigslist, or get creative like JAMIE DID (CLICK TO LISTEN TO HIS INTERVIEW)
That’s all you need! We’ve had quite a few of our MEMBERS do this exact strategy before they joined the course to learn how to scale [ we have material for that too 🙂 ]. Ideally, it’s nice to have some of your own money so you can find a way to get funds to lease your first property and don’t need to split the revenue. But this is to show you what’s possible!
The biggest game changer could be partnering with a Real Estate investor. We have a guide in the OUR FREE 10-PART COURSE that will go into much more details on why this is the perfect partnership opportunity and EXACTLY what to say! Email me today with details on how you can get this for FREE!
Ready to get started but have some questions or concerns holding you back?
But if you are ready to roll,
