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Updated over 6 years ago on . Most recent reply

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Jamie Beltran
  • Investor
  • Madison, WI
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Has anyone recently started or took over a CBRF in Wisconsin?

Jamie Beltran
  • Investor
  • Madison, WI
Posted

I plan to purchase an assisted living facility (CBRF) in the state of Wisconsin. I'm overwhelmed with the process - just the license application is a monster. Any help/ advice would be appreciated! I am really looking for some sort of mentor/tutor to help me through the process :)

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Marcus Auerbach
#3 Market Trends & Data Contributor
  • Investor and Real Estate Agent
  • Milwaukee - Mequon, WI
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Marcus Auerbach
#3 Market Trends & Data Contributor
  • Investor and Real Estate Agent
  • Milwaukee - Mequon, WI
Replied

@Jamie Beltran I have had buisness dealings with a person years ago, who was working in that field - she leveraged extensive knowledge she had from her W2 job into real estate investing. The business model is fantastic, if you can believe the numbers (which I am not sure about, because she also told me she had a very good credit score and it turned out to be a desaster).

I hope you can find a mentor, but here are two other things you can try: oartner with someone who has the health care background knowledge. Or hire someone with that background. - My uncle has a very succesful corportae consulting business in Europe, but while he is very qualified he does not have the degree necessary to apply for a license. He did not want to go back to school, so he started an LLC and asked a firend of his (who has the license and doesn't do anything with it) to be the manager, while he is employed at his own firm. Obviousley you want to check with a competent lawyer, but this is a very common practice to just recreut skills into a business that you dont have. Good luck!

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