07-14-2011 11:46 AM - edited 07-14-2011 12:40 PM
Don't forget, there are venture capitalists out there willing to fund a worthwhile business idea for a piece of the action. If the idea, the plan and the numbers work, they will not only provide funding, but a lot of brainpower and expertise in that field for you to draw on.
Instead of always hunting for money, or worse yet, being severely underfunded, you can concentrate on what you do best and just get it done.
It's up to you if the price is worth it or not. Many times, for sound startups, it definitely is worth it.
Just something to think about.
Good luck with everything!
(edited for typo)
07-18-2011 07:07 AM
In my experience, they can ask for much, much more than that. But askin' ain't gettin'.
Everything's a negotiation, and if the idea is sound and the numbers work, there are other financing options/venture caps out there in competition for a piece of your pie.
All I know is...I've never been a cheap date.
07-19-2011 05:36 AM
Have you ever used them to buy large income producing property and how did that go? Is that something they do...?
I've never used a VC for that, so I can't answer that question. But I do think that VCs are more interested in idea potentials and development (even with existing infrastructures) rather than real property opportunities, which always have an intrinsic valuation.
Property development is much more stable, the numbers can be crunched fairly accurately when taking into account current market conditions, cash outlay for acquisition and improvements, and possibly even expansion. There's no magic there, which is something VCs really want (something from nothing, so to speak).
If your interest is income producing property, you'll find investors to participate with you in an LLC if you need the extra clout to float the loans. Best bet (if you're shy on resources) is to bird dog the property, tie it up with a contingency offer, then pursue investors, with numbers in hand.
Good luck, the ops are out there now like almost never before!!
07-22-2011 11:15 AM
Aiman, my priorities have changed somewhat over the past year, so no.
I intend to personally be dead broke by December (at least on paper), by design. Everything is being converted into trusts.
That said, anyone seriously interested in accumulating wealth through real estate investments should get started, as in right now. IMO, values have bottomed, as have lending rates. Cash is still king, though. You can pick up some real bargains out there, but be prepared to float the costs for the duration while trying to generate a positive cash flow. Sometimes, the taxes alone can kill you, depending on where you're investing.
Hook up with a few savvy people with cash, and then do the leg work...and you'll all make out.
Unfortunately, I won't be one of those people.
07-27-2011 09:19 AM
What I mean is, I have a few longtime business associates, a couple of friends and some family members whom I wish to provide for by way of continuing income from trusts. Although I have many faults, ingratitude isn't one of them.
Any money I've ever made in the past has always been at risk (usually, at risk for my next "great idea"), LOL. Sometimes I've won, and many, many times, I've lost.
And so what? I've always been able to make chicken soup from the bones. Never bothered me one bit. But that's just me.
Figured it's time to reward the folks chewing their nails on my behalf for all of these years...
08-02-2011 06:09 AM
That was nice. Ever consider writing poetry (Felix Dennis) lol.
Next big idea is what it is all about.
So you think this is the time to buy real estate uh ?
You think we will have another small boom after another 2 years or so for another 4-5 years before the big crash ?
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