Trying to buy a 1st house while still in school - Page 7 - PeachParts Mercedes-Benz Forum

GottaDiesel · #91 06-12-2006, 05:32 PM

Quote:

Originally Posted by MedMech

It case it has not occured to you I have no desire to help you or explain anything for any amount of compensation.

Oh, trust me, you've explained that perfectly.

Hatterasguy · #92 06-12-2006, 06:05 PM

Jeff give up on wasting your time?

So do you finance entire business ventures? A friend of mine is looking to expand his business. If so we should talk. It is in the early stages, but its forming.

#93 06-12-2006, 06:07 PM

Quote:

Originally Posted by Hatterasguy

Jeff give up on wasting your time?

So do you finance entire business ventures? A friend of mine is looking to expand his business. If so we should talk. It is in the early stages, but its forming.

yes I do SBA but I am limited to Michigan, Ohio and Indiana.

John Doe · #94 06-12-2006, 06:10 PM

Quote:

Originally Posted by Hatterasguy

Jeff give up on wasting your time?

So do you finance entire business ventures? A friend of mine is looking to expand his business. If so we should talk. It is in the early stages, but its forming.

Get ten of your closest friends to take out low interest credit cards and give you venture capital in the form of cash advances and then sell them subscription agreements in the business in return. Just make sure you don't raise over $1M and your members (subscribers) are all residents of Conn., or you may run afoul of Reg D and have to register as offering a security.

John Doe · #95 06-12-2006, 06:14 PM

Quote:

Originally Posted by MedMech

yes I do SBA but I am limited to Michigan, Ohio and Indiana.

Why is the gubt. denying so many SBA loans to rebuild after Katrina and offering grant relief instead? I know SBA wants to encourage new biz, but why not loan to rebuild an established one, and if it fails, it turns into a grant, ect...? The grants are pouring in down here and it is kind of scary. I know one woman who got a rebuild grant and merely leased more space for her already failing restaraunt in the shopping center in which it is located. Been six months and still not a table over there. If it would have been an SBA, she would have had to have some accountability and oversight.

Hatterasguy · #96 06-12-2006, 06:21 PM

Quote:

Originally Posted by John Doe

Get ten of your closest friends to take out low interest credit cards and give you venture capital in the form of cash advances and then sell them subscription agreements in the business in return. Just make sure you don't raise over $1M and your members (subscribers) are all residents of Conn., or you may run afoul of Reg D and have to register as offering a security.

Actualy the amount would be a bit over $1M, maybe an Amex black?

He is in talks with a large bank and a possible group of VC out of NY, but I'll run the Visa idea by the big boys when I want to give them a good laugh.

#97 06-12-2006, 06:22 PM

Quote:

Originally Posted by John Doe

Been six months and still not a table over there. If it would have been an SBA, she would have had to have some accountability and oversight.

Exactly! that is why I like SBA, the interest rate is favorable so a growing business can turn a profit and the resources and advice are readily available.

Great program!

#98 06-12-2006, 06:24 PM

Quote:

Originally Posted by Hatterasguy

Actualy the amount would be a bit over $1M, maybe an Amex black?

He is in talks with a large bank and a possible group of VC out of NY, but I'll run the Visa idea by the big boys with I want to give them a good laugh.

Screw it!get a couple Amex Blacks and throw a few company cars in as well, ya gotta get to work.

Hatterasguy · #99 06-12-2006, 06:26 PM

Yeah I think an F430 would be about right for a company car?

Technicaly some Amex cards don't have a limit....

#**100** 06-12-2006, 06:35 PM

Quote:

Originally Posted by Hatterasguy

Technicaly some Amex cards don't have a limit....

American Express cash advance rates are insane but I am sure that won't make a differnce if you flip the house in less than 30 days

Hatterasguy · #**101** 06-12-2006, 06:46 PM

Well I get so many CC offers in the mail...hmmm. Most only slap you with a 25% rate if you screw up.

GottaDiesel · #**102** 06-12-2006, 06:48 PM

Actually, Amex cash advance rates for top-tier people is around 2.99% or 3.99% Fixed. If you need short-term money (1 Year) you can usually get 0% or 1.99 -- depending on how bad they want you. Even low end Amex (Blue, etc.) are in that range.

Hatt, you seem like a guy with some good goals. Just watch who you hang with.

GottaDiesel · #**103** 06-12-2006, 06:49 PM

Quote:

Originally Posted by Hatterasguy

Well I get so many CC offers in the mail...hmmm. Most only slap you with a 25% rate if you screw up.

Smart fella like you won't screw up. Just pay them their money on time.

#**104** 06-12-2006, 06:51 PM

Quote:

Originally Posted by Hatterasguy

Well I get so many CC offers in the mail...hmmm. Most only slap you with a 25% rate if you screw up.

See how close you are to becoming a RE without using a penny of your own money.

It's very easy I will show you how in my kit that I will send you free of charge you just pay shipping.

Shipping and handling

$399.95

Hatterasguy · #**105** 06-12-2006, 06:55 PM

Seriously though Gotta, looking at it from a numbers perspective what you are saying can make sense in a certain way. Although the point of using opm is to pass the risk onto said other people.

But what if I want say $10,000,000 to finance a large condo complex? See you get to a point and it just doesn't work. Even a small apartment building in my area is $500k, Visa isn't going to cover that.