Great Idea, but no way to get funding yet

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Comments

  • robertjrobertj Tampa Bay, FloridaPosts: 0subscriber Member
    From my experience, the question of "how much of your own money do you have invested?" is actually related to the question of commitment. Investors want to feel that you are committed to the project - for the long haul.
    robertj12/11/2007 11:52 AM
  • robertjrobertj Tampa Bay, FloridaPosts: 0subscriber Member
    Nick,
     
    The web site doesn`t really tell me much about Mr. Luckman or his services. When you say he is "getting funding for me" - will that be debt or equity?
     
     
  • robertjrobertj Tampa Bay, FloridaPosts: 0subscriber Member
    Nick,
    Thanks for the additional info.
  • RoblueRoblue Posts: 0subscriber
    I have the same situation with credit however I`m looking for a much smaller loan or investment ($25-30,000) who should I be asking?


    Depending on your credit, even with a low score, there is a possibility that you may be able to get a loan from [url=http://www.thesnaploan.com. ]www.thesnaploan.com. [/url] However, I should point out that with a low credit score you need to have no deliquencies and no bankruptcy over the past seven years.
    There are others, but this is the resource I had success with so I`m letting you know.  My credit score is about 675 or so.
    Hope you find success.
  • TheNewRichTheNewRich Posts: 0subscriber
    Tainted For the Next 10 Years - SOL on My Part Huh?
    What do you do then for those unfortunate ones who just recently lost their job and have been rejected by creditor after creditor because of a BK filed back in 2005? 
  • MNGrillGuyMNGrillGuy Posts: 2subscriber
    This is where friends and family need to come to the rescue.  They know you, trust you. 
  • TheNewRichTheNewRich Posts: 0subscriber
    I do not want to "beg" my friends and/or family.
    I am not close to any of my so-called family and do not have any friends.
    I am, what you would consider, a loner with no job, income, or anywhere decent credit with a BK hanging over my head since `05.
    I have got nothing. 
    I am looking for a business partner to split the expenses in starting up with real estate. 
  • robertjrobertj Tampa Bay, FloridaPosts: 0subscriber Member
    I do not want to "beg" my friends and/or family.
    I am not close to any of my so-called family and do not have any friends.
    I am, what you would consider, a loner with no job, income, or anywhere decent credit with a BK hanging over my head since `05.
    I have got nothing. 
    I am looking for a business partner to split the expenses in starting up with real estate. 

     
    While I fully understand the situation, it is difficult to "attract" the kind of people you want/need while you are in a depressed state.
     
    Consider the "positive" things you would bring to a "partnership" - expertise, energy, commitment, etc.
  • TheNewRichTheNewRich Posts: 0subscriber
    What good sites are there for "partnerships." 
    Already tried craigslist, young entrepreneurs, meetup, myspace, etc.
    Any ideas anyone? 
  • robertjrobertj Tampa Bay, FloridaPosts: 0subscriber Member
    You might also look at some local "groups" - especially those with members that might meet your needs. Also, you may be "fishing in the right pond - but not using the right bait"
  • Te1280Te1280 Posts: 1subscriber
    I have no understanding of investments?  ???????
  • robertjrobertj Tampa Bay, FloridaPosts: 0subscriber Member
    I have no understanding of investments?  ???????

     
    Based upon my experience, I can tell you that you are not alone in that regard. It is one of the reasons we started our business.
     
    Send me a PM or contact me directly if you want to discuss your specific situation.
     
     
     
     
  • RoblueRoblue Posts: 0subscriber
    Tainted For the Next 10 Years - SOL on My Part Huh?
    What do you do then for those unfortunate ones who just recently lost their job and have been rejected by creditor after creditor because of a BK filed back in 2005? 

    From what I can gather, once there is a bankruptcy involved, the individual or business is usually required to wait seven years before an investment/lending institution even begins to consider a loan application.  Not to mention, with the bankruptcy, you have seven years to make your new credit report look as responsible as possible.  All payments made on time and now delinquencies. 
    It will take some effort.  But there is light at the end of the tunnel.  You need to develop a tough skin in business.
  • RoblueRoblue Posts: 0subscriber

    This is where friends and family need to come to the rescue.  They know you, trust you. 

    In my personal experience, friends and family turn out to be the least reliable source for investment funding.  I don`t know if my experience is that of the large majority.  However, realistically speaking, how many people have actually gotten their family to invest in their business?
    I would honestly like to know.  This is because, the suggestion to turn to family and friends for investment fundings seems to be so common.  Who has actually gain funding success this way?  I would really like to know the success ratio of this type of capital funding venue.
  • RoblueRoblue Posts: 0subscriber
    I have no understanding of investments?  ???????


    Tell me about it...most people don`t have a great understanding of investments.  I have taken a considerable amount of time reading up on investments.  However, each book seems to want to outdo the next with high end terminologies and strategies that go way over the beginners head.
    As a rule of thumb, I don`t pretend to understand when I don`t.  I ask questions, as detailed as I can get.
    My recommendation to anyone who doesn`t understand investments and the strategies that go along with it is to ask questions until you do understand.
    There`s no shame in the understanding game, not for me anyway.
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