All Forum Posts by: Trent M.

I am going to turn it to gaming parlor and using the slot revenues to generate revenues to achieve the other options I wanted to do in the building. The gaming locations in down do about 50k a month and one does 200k a month in revenues. I don't have to have any costs except for a liquor license.  

Hi, 

I have found my dream commercial property. Its a commercial retail space that has had 150,000k of upgrades. It was a old building run down and the city purchased it and fixed it up using TIF and then gave it to a Pharmacy owner.  In the process they gutted the second story and took out the stairs and the apartment above. It has a new roof, new heating, new air, water softner, security cameras, networking, and ip phone system, on top of granite counter tops, and a ice cream bar with about 5 to 10k worth of custom cabinets wood shelves for medicine display.

In our small town they are asking 40k for the building and I have struck a deal to pay 10k down and  I wanted her to finance the building to me with low payments for 5 months with the balance of 25k due for the entire building due in 6 months with the owner financing it. The payments would be over 5k a month of dead weight and overhead like electrical.

My goal for the building is to turn put Gambling machines, ice cream and pizza place (bringing back a dead mans legacy of our towns most unique pizza in his very own building).  With the high risks I wanted to use the gambling machines to offest the risk.

I have also wanted to separate the front and the back and turn it into a cannibals store in the front and video poker gaming in the back.

I don't have credit, I don't have debt, my house and car are paid for and I have never had any loans for anything. I don't use credit cards just a debit card. So I am out on conventional financing.

I  have solid skills and ideas about what to use the building for ... it has so many possibilities. I can't afford the dead weight of the building for over 6 months while I try to put together business and wait on license approvals and absorb the risk of changing the back part back into a pizza kitchen.

I want to keep the property in a entity and rent it out basically to my other business ideas. to keep it all separate.

ANYONE HAVE ANY SOLID ADVICE? the building is just awesome and its  just so many possibilities.

If I buy this and take it to a bank and they apprise it for 80k or something.. wouldn't that be like instant equity ? I am still not sure I would tap this? The Tif won't let me use its funds to purchase the property. I don't know why I couldn't use the TIF of a bridge loan to pay the expenses while I am building my ideas to open and waiting on all permits that might take longer than 6 months.

Why can't I get a long term commercial loan and get the payments down? 

The Richest Man..would have everything and nothing at the same time.

There is no place to my knowledge that is great to place to stick money. My thinking is if the economy goes south at least I have my home. With no debt other than just living expenses. It will always be asset on my balance sheet.

In these times to be 33 and debt free... I am positioning myself well.

I am not in Chicago.

Like I said. I have no debt. I live on the minimal.

As far as income goes. I haven't yet figured out how to raise my income level. I currently work for my family in there business even with my degree's, talents, and abilities.....the job market is next to nothing around here.

I tried to start my business 3 times and I found no support in doing so.

I really would like to move away and get a condo or something in a different place and travel back and forth during the winter months. However I would need to find a job that could support me doing this.

taxes for selling the stock should eat up 15-20k maybe.

Hi,

I currently decided to bail on the stock market well sorta. I sold around 100k of stock. While it was a very tough decision to make. I decided to protect myself some.

My current Bank won't allow me to refinance my loan into any type of fixed rate. They currently have me in a ARM loan.

I purchased my home from my grandparents in 2006 and I still believe I got a deal. I only owe about 76k left on my mortgage. My house is probably gonna be valued in the 200+k range, however it does need a lot of exterior work and a new kitchen. I'm estimating around 60k to fix up all the problems on the exterior and restore my colonial home. (windows, sidding, roof, gutters, shutters, landscaping)

What I was wanting to do is pay down my loan so that there was just 20k left of the mortgage and refinance it at a fixed rate.

The problems I don't have a lot of income history. So I have had to do everything unconventional. I have no debt at all.

I am still low income at the present time making around 10 dollars an hour. I was hoping there was some type of assistance that I could tap or some loop hole I could use that will help me in fixing up my home.

Does anyone know of a way that I could refinance without jumping through tons of huge hoops. I mean a 20-30k loan is a really low amount.

Hi,

I am a dreamer with an retail concept and I am looking for advice. My concept requires around 200,000sq. ft. to 600,000 sq.ft of retail space. My goal is to develop this on the interstate and get master planned around 30 acres give or take 10.

I estimating that it will cost between 60-120million dollars to build it and I'm guessing that it would take about 3 million in pre planning to design a mini-model?

How can I work with a developer that can help me work wtih a carefully selected team of developers, branders, and graphic artists to develop a vegas like mini-model and support through the next three phases of selling it?

I need to be able to own and control the land, the real estate, and the entire model. Its how to figure out how to get this done using the least investor money as possible. I need to get it financed in the best possible way and spread out for as many years as possible.

In order for me to get to step number #2 and number #3.. I need to have the mini-model developed and designed with details plans and I need the ability to be backed up with proff that I am funded to build it. This way I can tell the rest of the people in step #2 and number #3 to STUFF IT.... So I have them stumped and put there back to the wall and nail them down.

This being said... my goal is to pay it off within 10 years but to optimize cash flow for the rest of the idea. It take under 8 years to pay it off. That depends on a few diffrent variables.

I have to get a master plan. Who knows how to financial plan this out with numbers for a business plan? I need to pin-point venture captial and or angle investors or just a big developer?

How would they develop and plan for a vegas hotel or a Walt Disney Theme Park? Where are the fun risky people? Who has the business financial models for stuff this size?

My goal is to pay off the real estate asap. THAT IS YOUR EXIT STRATEGY!

correct it's going to take alot of seasoned knowlege to get it correctly off the ground and the key to it is to do it on a minimalistic scale. There are two issues. 1 the peice of real esate master planning and 2 the planning of how to sell it properly for the rest of the vision to work properly.

I think the true secrete to acheiving this is to finding the developmental dollars showing the vision to other companies and saying this is what i'm building are you willing to help sponors it. Nothing more powerfull than a young person with a passion and a younger pereson with support is even more deadly.

The real estate mall is what is needed to make my vision work. If someone were to build and lease it back.. My companies goal is to own the entire property at the end paying as minimal per square foot cost as possible. That would be the exit stragetigy for the real estate.

In a rural community am I not like a massive write off for larger developmental companies and other supporters? Supporting a rural project?

Either way. It may not be able to be built at once and all at one time however to take a piece of land and start slapping up buildings on it would be ruination and frankley stupid. Only adding after income is somewhat getting established. However I'm going to have to have a entire diffrent set of retail investors on flip side of the real estate.

i can get financed up to 20 million in real estate from rurual economic grants and doing it multiple uncondition ways is the smartest using the least of invester money as possible. I would just be missing the 25% to do it. And before that happens... I have to have a plan.

How can I find somenoe willing to invest into "Planning"?

My business model has absolutly no place to go but up up up and when starting from scratch it's a completly new and exciting thing.

I have had predictions of revenue from the rest of the model from 30-300 million a year however I have yet to fully understand the power of what I am wanting to build. I have no clue how retail professionals caculate those numbers but several have all agreed I have that type of potential or higher.