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1 "correct" answer available (5 pts) 3 "helpful" answers available (4 pts)

6 Replies Last post: Nov 24, 2007 10:00 PM by aqueenary

Start Up Real Estate Biz needs to raise capital

Nov 22, 2007 8:46 PM

axiom2007 3 posts since
Nov 22, 2007

Hello ALL!

I have a new real estate investment company and have been fortunate enough to negotiate my first deal. The deal is sweet and all I need is a $10k or $15k micro loan to get started. Does anyone know of a company that will help me out? Any suggestions and recommendations are welcomed.

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Bluesuit 136 posts since
Oct 23, 2007

1. Re: Start Up Real Estate Biz needs to raise capital Nov 22, 2007 9:24 PM

Congratulations on your biz. Great to hear that someone is doing well in this housing market. Have you approached your local bank yet?

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axiom2007 3 posts since
Nov 22, 2007

2. Re: Start Up Real Estate Biz needs to raise capital Nov 22, 2007 9:48 PM

in response to: Bluesuit

no....I read that a micro loan is money given by a non-profit organization but i did try to get a business line of credit from my local bank but ofcourse my business doesn't have the 2 years. I wonder if there is a lender that will collaterize the property that I intend to purchase? Just a thought......anyway. Do you know of a non profit organiztion that will do a micro-loan or SBA? I would even go with hardmoney if the terms are right. Thanks for your input it is greatly appreciated.

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Ed O'Gee 215 posts since
Oct 25, 2007

3. Re: Start Up Real Estate Biz needs to raise capital Nov 23, 2007 9:02 AM

in response to: axiom2007

What banks did you go to? Wamu and BofA don't require you to be in business for two years. They just look at both your business and personal credit histories.

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axiom2007 3 posts since
Nov 22, 2007

4. Re: Start Up Real Estate Biz needs to raise capital Nov 23, 2007 3:21 PM

in response to: Ed O'Gee

wow........OK! I really thank you for that information. I am ALL over it now thanks to you.

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Y Not Mag 23 posts since
Nov 7, 2007

5. Re: Start Up Real Estate Biz needs to raise capital Nov 24, 2007 5:04 PM

in response to: axiom2007

Hello it's Jamila with Y-Not Magazine. Yes, the WAMU & BOFA advice was great. 1. Please let me know if you were successful with any of those 2 sources (mentioned above). 2. Do you own any type of property or vehicle that you can use for collateral, etc.?
I am looking forward to hearing from you.

Thank you,
Jamila Serrant

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aqueenary 15 posts since
Nov 19, 2007

6. Re: Start Up Real Estate Biz needs to raise capital Nov 24, 2007 10:00 PM

in response to: Y Not Mag

how this communtiy build a national network of business contact

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This Question is Possibly Answered

Start Up Real Estate Biz needs to raise capital

Nov 22, 2007 8:46 PM

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