Post a new topic
    6 Replies Latest reply on Jan 14, 2013 8:00 PM by treys0ccr

    Where is the financing for entrepreneurs?

    PapaGator Scout

      I must be out of the money loop.There doesn't seem to be a way for someone with ideas to find any financial backer that has the ability to listen and understand the ideas and goals expected by people that are willing to do the due diligence ahead and just need the financing. I have been trying to get the help and everyone is either scamming or saying we don't do that anymore. Is there any legitimate way to accomplish moving ahead with positive ideas?

        • Re: Where is the financing for entrepreneurs?
          Guide

          Hi PapaGator,

           

          I am not quite sure what it is that you are asking.

           

          If you are looking for investors, they will be interested in only one thing -  how much of a return they will receive in the shortest period of time. Everything hinges on the presentation of your business plan. If you don't have a sound idea and their return is not high enough people will not invest.

           

          If you're looking for a bank to finance your idea, they ask to see your business plan and inquire about your current finances.  

           

          It might help us if you gave a little more detail so that we can help you further.

           

          Melinda

          1 of 1 people found this helpful
            • Re: Where is the financing for entrepreneurs?
              PapaGator Scout

              Thanks for replying to my inquiry. The information needed is very involved but I will try to hit the high points. My first idea is one of existing real estate that exist in my ownership with 18 of 21 properties completely paid for. I have real property that is taxed in Leon County in the city of Tallahassee, Florida 32311. I need to replace all the old mobile homes that exist on the lots. I cannot rent them because of the inability to have them insured. They are all 1966 to 1985 models that are too old for insuring. It is the nature of the beast. My idea is to replace the homes with all new modular homes that would increase the values and be insurable and rentable for decent money. My wife and I rode to Lake City Florida to look at the factory that builds the newest models and witnessed the better quality than the ones I have now. They are built with all new code requirements and they are as good if not better built than any stick built home in Tallahassee. Okay now the additional information. I need to start a business to manage them and to have other businesses that would be under the umbrella of the company.The business would need to be run like a business with a purpose. The removal of the old models and the landscaping of the lots for the new units would require some outside mover company but I would run a landscaping business that would take trees down and prep the lots properly. There are some very large and dangerous pine trees that I want to give to my family in Sopchoppy, Florida for them to build a home with. I would need an articulating boom truck, a large chipper and a large trailer to haul the trees on for the portable saw mill that I might find to work them into the size needed for construction. So, new homes,tree service equipment,and all the additional portable carports for the lots and porches needed will be a total of about 1.3 million dollars. The income from the rent would average minimum $600.00 and be $12,600 total a month. The location of the homes are in Paradise Village East on the corner of Capital Circle South East and the Apalachee Parkway. This is in the middle of the biggest growth going on in Tallahassee's East side. I really would like to give you some more of my ideas but try this out and let me know what your thoughts are. Thanks

            • Re: Where is the financing for entrepreneurs?
              johnimmanuel Newbie

              1.If you have a Purchase Order then there are people to finance it.

              2.You should have 10% of cash reserve of the amount of money you are expecting to finance.

              • Re: Where is the financing for entrepreneurs?
                Robin Williams Tracker

                I studied your project well and that sounds interesting to me and hope many a investors would also like the project. I would suggest to make a documented presentation of this entire project with financial numbers and projections mentioned to make it easier for investors to understand the whole thing. Else try a business loan from a bank. Though the finances of the nation is going south, there are undoubtedly good chances for financing a good project.

                Like, we being in payday loans, haven't stopped funding people, so on the same grounds expect the same from the banks when it comes to your needs.

                  • Re: Where is the financing for entrepreneurs?
                    Guide

                    Hi PapaGator,

                     

                    Thank you for clarifying. Your project did catch my attention as well. I agree with Robin, start crunching the numbers and put together a fantastic presentation. Real estate is definitely a market that can be fruitful if done the proper way.

                     

                    Question for

                     

                     

                      • Re: Where is the financing for entrepreneurs?
                        PapaGator Scout

                        Good morning. The idea I have is to improve the neighborhood. The goal is to put brand new homes on every lot I own with all the bells and whistles I can afford to make them the best of anyone's and have the best people to rent them with a feeling of being proud to be in a place that is ideal for everything. The big picture is the location and how it impacts the community. No one can understand how I acquired so many places in this neighborhood. It was done over time and with hard work. I have no notion of selling anything I own. This is for the income of my family and the future of the area. Another note on the location. I have been offered over 1/2 million for only 5 of my lots and I turned them down because they are worth more to me to keep than to sell to people who have more money than me and want to take over for big reasons that I see are not going to happen without me being a part of it. If I can't get financing for new homes and I have tried all venues in Tallahassee.  I will have the old homes taken down and have the best looking vacant lots in the neighborhood with lower taxes and places to grow my own vegetables and what ever else I decide to do with them. This location is what a developer calls "Prime Real Estate". The dirt is the valuable commodity not the homes. It is so hard to get financial people to see the big picture and with the economy the way it is it will be hard for any investor to get me to let go of any lot I own. Financial investors are the greedy people and The old saying is the Greedy will get Needy.

                          • Re: Where is the financing for entrepreneurs?
                            Guide

                            Hi Papagator,

                             

                            Since your land is considered prime, you could develop part of it as say a botanical garden or use it for a sustainable garden. The government has different types of grants on projects such as those listed. I'm not sure how that would work, but it might be worth looking into. You never know, maybe that would be a way to get your financing. Good luck!

                             

                            Melinda

                              • Re: Where is the financing for entrepreneurs?
                                treys0ccr Adventurer

                                Taking in what you have explained about you ideas I would agree with Melinda. Although the first idea to bring in new homes would be a great endeavor in itself, the fact that the land is considered to be prime real estate sets up a whole new set of business opportunities for you. As she said, making some of the lots into some type of botanical or agricultural area will allow you to receive funding from the government under those stipulations. There are also ways to apply for unsecured government grants and loans online that allow you to apply for free with no credit check. This would be a good way to get informed on how much funding you are eligible for and allow you to see what you should do to improve your chances of getting funding from the government. There is one website that I have found that I can provide to you if you are interested.

                                 

                                     In my opinion, both ideas (new housing or agricultural installation) are great ideas and although I am not familiar with the area, I would say that with a great business plan and with the pitch you have given us, you should be able to find some type of funding soon. Just keep looking and keep thinking of small ways to improve your pitch to investors. Like I said, there are a lot of factors that investors look at and a solid business plan with good returns for the investors are key in getting them to jump on board.

                                  • Re: Where is the financing for entrepreneurs?
                                    PapaGator Scout

                                    I will say that the loan or grant is to improve housing in my neighborhood. All existing homes are 1966 to 1985 units and are not insurable and are too far deteriorated to rehabilitate. It would actually cost less to put in new homes and be alot more profitable. I am at a stage of improvement. I am not in favor of the alternative. The location is in the 32311 zip code and an address to google is 1413 Vogue Drive. Take a look and include the purchase of 1313 and 1325 Blairstone Road 32301 also in Tallahassee as a location to run the rental properties and also start the business up of ParadiseCorner.com.

                                      • Re: Where is the financing for entrepreneurs?
                                        treys0ccr Adventurer

                                        Ok I see. Well you might try taking a look at this webpage and going through the application for government loans and grants. They seem to have a pretty good track record with and will get back to you within 48 hrs. They will show you how much you could potentially receive and you can go from there. If the amount is not what you expect you can always improve your chances by adding to your arsenal of business related information. A quality web page is another good start in your search for start up capital. I will post a link below and you can take a look.

                                         

                                        gocreditwise.com |

                                          • Re: Where is the financing for entrepreneurs?
                                            treys0ccr Adventurer

                                            If you decide to go through the application and they give you a number that is not acceptable for you, I also have come up with a list of things that can help get more money if you have them in place. I can send that file to you if need be but I recommend filling out the application first and getting a good idea of your financial situation before looking at the package. It will not only give you knowledge but will give you an idea as to why you have not been able to receive funding in the past.

                              • Re: Where is the financing for entrepreneurs?
                                treys0ccr Adventurer

                                Please let me know how everything goes if you do decide to fill out the application and I will do my best to assist you further if need be.