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 Posted 9/13/2006 5:03:20 PM |
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Forum Member
 
Last Login: 3/19/2014 12:18:48 AM
Posts: 181,
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hi yall, long time no post form me, but things been very hectic
so Let’s see where to start
Ok, so since my parents had there operations I’ve been taking care of them till they can recover and took some time off my job so I can be there for them and take care of them, but I recently learned I am going be here a lot longer then I planed. Its either I stay close by or I put them in a nursing home, and the nursing home thing is not a option. So it looks like havening to quit my job, I could get a part time job somewhere, but with my parents that’s going be difficult, I have to be here at 7-9 am to give them both their meds and cook them breakfast in the morning, then they get lunch at 12, then dinner at 5-6pm and night meds at 8-9 and bed meds at 10, and then throughout the day I’m getting them stuff like drinks and so fourth, so part time jobs would really not work out well. I am working on getting paid by some of there insurance company’s by being here to take care of them, but that’s going to take 2 to 3 months if I even get approved which they said I should, and even then that’s only going to be 8-10.00 an hour and they will only pay me for 10 hours a week, which is better then nothing. But everyone knows that’s not a great income.
The money I’ve had saved up the past few years have been going on taking care of my personal bills and that’s starting to run very low, I have not even been able to work on any of my personal projects, and the little prop work I do get paid for ever now and then is not ding so great either because I haven’t had the time or funds to really work on anything new. Plus my tools are going out faster then I can get them repaired.
The good news is I have come up with a mid way to get my life back up and going good so I can have a good income and still be here for my parents, there is a little gas station/store market type place across the street form this house, and they have been wanting to sell it, id be able to buy that and work there and still be close enough to take care of everything my parents need, the problem now is that I’m young and don’t have the best credit, thanks to gateway screwing me over, (long story don’t feel like getting into it) so getting a loan for amount I would need is going to be very difficult, and asking for donations is not really the best option, if it was for charity work I would, but personal life issues don’t seam like a good reason (not that I turn away donations, lol)
But I’m posting this for anyone that out there that may be good with the stating up of business that would be able to offer me any advice in this matters, as to how I could go about raising the capital I would need in the shortest amount of time. (by shortest I mean like 2 to 3 months, lol, as I said my bank account is getting really low, I’ve cut back on everything so I could keep paying my bills even been selling a lot of my personal items)
So if anyone has any advice I would be very happy to receive it.
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| Posted 9/13/2006 5:11:01 PM |
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"Tardmonkey of the Year"
Last Login: 9/6/2011 12:10:05 AM
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I wrote a long, very concise business plan when it was time to secure funds to expand my business last year. Within a month I had gotten a $30,000 investment from a wealthy family who had nothing better to do with their money. it just so happened that I also coached their kids in gymnastics, so they knew me.
Don't bother with banks - business startup loans are HARD to get from traditional lending institutions, no matter WHAT they say. Go with wealthy individuals and truly convince them that the business you are about to start / expand / take over is a goldmine that YOU can tap into.
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Design and sell your own custom t-shirts, on your existing MySpace page, for free! Download the AP Product Labs app from the app gallery, today.
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| Posted 9/13/2006 5:58:22 PM |
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I have the power!
Last Login: 9/29/2023 8:43:09 AM
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It might be hard to find rich investors though. I would think you might be able to get a loan to buy it, or at least part of it. You may also see if there is a lease option you could work out.
Also, your props are awesome. You might want to see if anyone in that business needs some help to do something you could work on at home. You definitely have a good portfolio to show.
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| Posted 9/14/2006 3:10:50 AM |
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"Tardmonkey of the Year"
Last Login: 9/6/2011 12:10:05 AM
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Loans are available, but in MOST cases they are reserved for corporations that already show a profit or for individuals with HELLA good credit. I am talking 750+ FICO scores.
Finding people with crap loads of money hiding in the banks isn't too difficult actually. You would be surprised by how many 45+ individuals have tons of money waiting to be liquidated from stocks for investment oppotunities. It all starts with a solid business plan though.
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Design and sell your own custom t-shirts, on your existing MySpace page, for free! Download the AP Product Labs app from the app gallery, today.
http://www.myspace.com/approductlabs
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| Posted 9/14/2006 4:28:44 AM |
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Whose goin 4 a pint???
Last Login: 7/17/2022 12:06:22 PM
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Do you have the option to refinance ur parents house??? If not, If the garage/petrol station has profitable books for the end of the financial year, they may be enough for you to bring them to ur bank and show that the garage is financially viable and makes good commercial sense for them to finance it for you or part thereof
DE 66 IS COMING........
Believe and succeed
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| Posted 9/14/2006 4:04:34 PM |
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Forum Member
Last Login: 4/20/2013 3:39:12 AM
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Hi, sg1....I understand your hardship, and need to help your folks, but if you hardly have much time to devote to them, how do you think you would have time to run a gas station/grocery mart?....there is an awful lot involved with running your own business...time AND money. I'm sure Justin can attest to this! Dee's suggestion of refinancing your parents home would be doable. Also, look into Social Security/Disability checks...you no doubt will qualify.
Chicks Love THE CAR! www.myspace.com/thecar1977
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| Posted 9/14/2006 4:17:24 PM |
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"Tardmonkey of the Year"
Last Login: 9/6/2011 12:10:05 AM
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Visits: 4,625
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LOTS of time and money. You don't own your business - your business owns YOU until you have established it enough to walk away from it on occassion. I am just now getting to the point where I can just do what I want and not worry about my business falling to pieces without me.
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Design and sell your own custom t-shirts, on your existing MySpace page, for free! Download the AP Product Labs app from the app gallery, today.
http://www.myspace.com/approductlabs
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| Posted 9/14/2006 6:43:17 PM |
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Junior Member
Last Login: 6/9/2008 1:31:33 PM
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Refinancing the house sounds like your best bet. They do have a reverse mortgage out there for older retired people. That might be an option.
edit - I should mention that I also run my own business and in reality it DOES run me!
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| Posted 9/15/2006 8:49:49 AM |
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Whose goin 4 a pint???
Last Login: 7/17/2022 12:06:22 PM
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Visits: 4,045
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| Running a shop is a tough one. You've to be constantly on the ball to make sure it's fully stocked the whole time watch out for light fingered little feckers, and if you've dishonest staff they can fleece u and clean you out. The business soes own you and believe me, like Justin said, it has you for a few years before you can kick back and watch it grow. If on the other hand it's a thriving business already, it may not be so hard but just be 100% that that's what you want. Good luck man. 
DE 66 IS COMING........
Believe and succeed
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| Posted 9/15/2006 8:56:52 AM |
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I have the power!
Last Login: 9/29/2023 8:43:09 AM
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I think the problem is the mortgage is a temporary solution, and he needs a job generating income. But I have heard those reverse mortgage things can be very useful and may provide quite a bit of financial relief......if you don't mind losing money on the house.
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