First off I wan to thank all of you this forum has been a great help thus far. Here is my questions I currently own a small property management company. I am also looking into a few property management franchises. Anyone have any ex experiences that would help my decession on if its worth it to franchise? Also problem with that is the 50-100k investment to start. I have with the advice of this forum looked into angel investors which I didnt really have much luck finding the right place to find one. I have also spoke with about 15 different business credit building company's out there, While all promise the world have any of you had one that worked. Also one that wasnt 10-30k up front. I have set up my D&B duns number experian small business credit profile. I also updated my website established a LLC opposed to a DBA and also got my EIN number. All my wireless account and business phone accounts are set up threw PHP. I am currently working on my formal business plan which shows a substantial ROI. With in the 1st year of funding I will have a ROI of 250k to 500k. Thats going off 80% of plan. I also sat down with my local score advisor. And while they had some good advice I don't feel like I was told anything I didn't know. They were great and provide a great service but the mentor I met with didnt know much about my needs. I have another appointment with another score mentor on the 27th. Score is great I just need to find the right mentor that understands the market I am in and my needs. So when it all boils down to it what can I be doing different what can I try. And what ave do you guys feel would be good to look into a angel investor or the best business credit building company that wouldnt just take me money and run. I have looked into SBA and at this point that looks to be the best option. I know if given the proper funding this is a very profitable venture. I have been able to prove that with no marketing or capital just what's free and at my despoil Please let me know what I could do differently. The following is a little about my company and myself.
PHP Management,LLC DBA Pro Property Management
PPM has been in business since July of 2004 But PHP, LLC only since this month
Personal Credit is average or below for that matter
I currently just doing this on the side with no money just business realasonships am managing 9 Property's
I have a accountant and lawyer but not very happy with my business lawyer. He really does help much
I currently threw just referrals and no marketing budget am presented with 5-10 investors per month. And 5-10 property's at well below market value somewhere around 50% most times.
But without funding I am a small man in a big mans world
I made 80k after all my write offs last year. My 1099 showed 167K
I have been in the Mortgage/Property Management for 6 years now. And threw networking and as many online courses that I can get my hands on have been able to do ok for myself I just know I could do so much more with the right backing.
All my business accounts are recently set up though BOA small business
I would love any help possable and am open to different ideas
I have resourses to mortgage brokers title company's realtors property investors and quite a bit pre forclosures that I get before they hit the list.
Business Credit profile
Experian business report has been on file since july 2004 but no tradelines
D&B duns fresh and new
LLC formed and filed
Business phone published
Home Office but I am going to lease a small office shortly.
Only 2 small net 30 tradelines. That soon will be reporting
EIN number is only from time that the LLC was formed.
I hope this helps I am trying to give as much info as I can think off the top of my head. Thanks in advance for any help or advice..