Seeking Partner and Financing

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Seeking Partner and Financing

Brandon C.
Real Estate Investor · Milwaukee, WI · Member since 2017 · 25 posts · 9 votes

Hello, my name is Brandon Marcel Cherry. I live on the north side of Milwaukee, WI in a group home currently. I was just placed on SSI in April but want to try working again. Therefore, I can only work 20-hour weeks at most while still on SSI benefits. I have completed the Gold course materials from Group Home Riches, recently, and feel ready for a partner. I have connections at the Milwaukee Rescue Mission that should generate guest leads for us well and I will soon start marketing for more opportunities.

I am looking for a partner for this group home venture, therefore. I need someone that will get in there and wrestle with the business with me, though. Not someone that's passively investing in me. I have a 620 credit score, also, as a result of being disabled. And I have limited transportation through the city bus, only. I know that this is a lot, but I just want to be brutally honest.

I know that the course says seek marketing first, but I want to know I have a partner backing me ahead of that. I have studied real estate since April 2005 and really don't want to miss this buyer's market coming. I want to start with rental arbitrage though and then move on to BRRRR (Buy, Rehab, Rent, Refinance, and Repeat) as a strategy. If you are at all interested, please let me know.

We all start out somewhere. This is where I am starting out.

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  • Rebecca KnoxBusiness Member
    Specialist · Milwaukee, WI · Member since 2014 · 1k+ posts · 1k+ votes
    2y

    I know of some group home investors in Milwaukee. Is that what you're trying to do? Find a partner to go in on group homes with you? 

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  • Brandon C.
    OP
    Real Estate Investor · Milwaukee, WI · Member since 2017 · 25 posts · 9 votes
    2y

    Yes, Rebecca.

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  • Brandon C.
    OP
    Real Estate Investor · Milwaukee, WI · Member since 2017 · 25 posts · 9 votes
    2y

    Rebecca, I changed my mind about group home investing. I'd like to do more traditional investing (wholesaling, tax liens, rehabbing, rentals, especially BRRRR). I'd like to do single family and multifamily housing units. I need a partner for this as I have no savings and a 620 credit score with debts of $50,000ish in student loans. If you know of anybody, please let me know.

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  • Basit SiddiqiBusiness Member
    Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
    2y
    Quote from @Brandon C.:

     I have a 620 credit score, also, as a result of being disabled. 

    Disability has no impact on your credit score.

    You appear to be all over the place in regards to strategy - Rental Arbitrage, BRRR, Wholesale, Tax Liens, Rentals, etc. You had another post talking about asssited living and mobile home parks.
    You should focus on one strategy when starting out. Master it and then expand.

    You appear to have little experience, no capital and a bad credit. You do appear to have time. However, it seems pretty hard for a person to want to partner with you.
    You may need to do some deals on your own first, build a track record and then seek help from a partner.

    [email protected]917-280-8544
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  • Brandon C.
    OP
    Real Estate Investor · Milwaukee, WI · Member since 2017 · 25 posts · 9 votes
    2y
    Quote from @Basit Siddiqi:
    Quote from @Brandon C.:

     I have a 620 credit score, also, as a result of being disabled. 

    Disability has no impact on your credit score.

    You appear to be all over the place in regards to strategy - Rental Arbitrage, BRRR, Wholesale, Tax Liens, Rentals, etc. You had another post talking about asssited living and mobile home parks.
    You should focus on one strategy when starting out. Master it and then expand.

    You appear to have little experience, no capital and a bad credit. You do appear to have time. However, it seems pretty hard for a person to want to partner with you.
    You may need to do some deals on your own first, build a track record and then seek help from a partner.


    No, I decided not to do the group homes/assisted living. And to first focus on BRRRR. I will be adding the tax liens, etc. as time goes on.

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  • Brandon C.
    OP
    Real Estate Investor · Milwaukee, WI · Member since 2017 · 25 posts · 9 votes
    2y
    Quote from @Basit Siddiqi:
    Quote from @Brandon C.:

     I have a 620 credit score, also, as a result of being disabled. 

    Disability has no impact on your credit score.

    You appear to be all over the place in regards to strategy - Rental Arbitrage, BRRR, Wholesale, Tax Liens, Rentals, etc. You had another post talking about asssited living and mobile home parks.
    You should focus on one strategy when starting out. Master it and then expand.

    You appear to have little experience, no capital and a bad credit. You do appear to have time. However, it seems pretty hard for a person to want to partner with you.
    You may need to do some deals on your own first, build a track record and then seek help from a partner.


     Also, I never said disability has an impact on credit score. I have studied personal finance for 29 years, I know how credit scores operate.

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