Derek Foster - Real Estate Investor Upstate NY

[Derek Foster]

Hi all,

My name is Derek Foster and I am the President of Daigle Cleaning Systems, Inc. based out of Clifton Park, New York. We have been in business four years and now have 30 employees, my Mom and I are partners in the business.

I have always had a love for real estate since I was younger. The entrepreneurial spirit of my Grandfather, now a retired homebuilder, inspired me to first start my own company and now to pursue real estate.

My next venture is going to be a residential/ commercial rental and development company with a built in property management staff who will supervise and manage the units. We already have the cleaning company in place to take care of the units upon tenant turnover and to maintain the building common areas. 

I am here to seek knowledge on how to borrow and receive financing for such a venture. It is difficult for a young business owner (27) to get conventional lenders to take me seriously in regards to lending for building and development since I have no proven track record and since as a business owner, I try to show less on my income taxes. My argument is that I have already have established a company that has survived four years and has doubled in revenue ad staff each year. In addition, I began the company with a $2k line of credit on a credit card and paid it back interest free in 6 months.

I would also like to establish connections and share resources with those that have already been down the path that I would like to begin walking down.

Thank you,

Derek