the reason for this is bad credit history, also being unemployed, i need to find a finacial backer to put money in for half profits in return, i want to buy a property do it up then sell if for a profit before buying another, im prepared to do all the work as long as someone puts up the money, for a 50/50 share of profits
2007-01-20 17:04:49 · 6 answers · asked by whitleylass 2 in Business & Finance ➔ Small Business
If you are going to create a real estate restoration company, then there are microloans for that. Apply at your local or state micro enterprise organization.
There might also be investors or angels interested in partnering with you for a substanial return depending on the demographic of the area of where the houses will be located as well as the real estate market value of the homes in the area.
Do your homework, create a business plan, market study, as well projected income, and projected operating costs. There numerous books on amazon.com for that. Good luck!
An angel investor (known as a "business angel" in Europe, or simply an "angel") is an affluent individual who provides capital for a business start-up, usually in exchange for ownership equity. Unlike venture capitalists, angels typically do not manage the pooled money of others in a professionally-managed fund. However, angel investors often organize themselves into angel networks or angel groups to share research and pool their own investment capital.
Angel capital fills the gap in start-up financing between the "three F"s (friends, family and fools) and venture capital. While it is usually difficult to raise more than US$100,000 - US$200,000 from friends and family, most venture capital funds will not consider investments under US$1 - 2 million. Thus, angel investment is a common second round of financing for high-growth start-ups, and accounts in total for more money invested annually than all venture capital funds combined (US$24 billion vs. $22 billion in the US in 2004, according to the University of New Hampshire's Center for Venture Research).
Angel investments bear extremely high risk, and thus require a very high return on investment. Because a large percentage of angel investments are lost completely when early stage companies fail, professional angel investors seek investments that have the potential to return at least 10 or more times their original investment within 5 years, through a defined exit strategy, such as plans for an initial public offering or an acquisition. After taking into account the need to cover failed investments and the multi-year holding time for even the successful ones, a typical successful portfolio of angel investments might result in an Internal rate of return of 20-30%. While the investor's need for high rates of return on any given investment can thus make angel financing an expensive source of funds, cheaper sources of capital, such as bank financing, are usually not available for most early-stage ventures.
Angel investors are often retired business owners or executives, who may be interested in angel investing for other reasons in addition to pure monetary return. These include wanting to keep abreast of current developments in a particular business arena, mentoring another generation of entrepreneurs, and making use of their experience and networks on a less-than-full-time basis. Thus, in addition to funds, angel investors can often provide valuable management advice and important contacts.
About Microenterprise
Microenterprise Defined
AEO and its members have defined microenterprise as a business with five or fewer employees requiring $35,000* or less in start-up capital. AEO estimates that there are over 20 million U.S microenterprises, which represent 17% of all private employment in the U.S. In addition, microenterprise represents a path from poverty to financial security for many low-income individuals.
* Loans of $35,000 and under are known as microloans.
Microenterprise Development Industry
The estimated 600 microenterprise development organizations (MDOs) operating in the U.S. exist to support disadvantaged entrepreneurs as they start or expand their businesses. MDOs can increase the chance of business success by bridging the gap between disadvantaged individuals and the tools they need to start and grow successful businesses. With the help of AEO services, MDOs offer business training, technical assistance, access to capital, and other services to entrepreneurs to assist them in realizing their dream of business ownership. For many low-income entrepreneurs MDOs represent the only opportunity to access the capital and business tools necessary for business start-up.
2007-01-20 18:04:35 · answer #1 · answered by BellaDonnaRev 3 · 0⤊ 0⤋
Life a bit more complicated than that, to work on a house nowadays you have to qualified in each trade.
To get the right house at the right price you knead some on the inside ( estate agent ) and them, it just very hard work, with no guarantee of a profit.
People are crying out for window cleaners, house cleaner and gardeners, and these people can get from £7 to £25 an hour.
This would be good training, and show a history of hard work and continuity to the banks.
good luck and don't give up
2007-01-20 19:14:51 · answer #2 · answered by dyslexic 2 · 0⤊ 0⤋
well, fill in all the questions, i am not promising, but i will listen, what are you offering, where are you, how old, time of completion of this project, like when does the money come rolling in, tell me everything, not leaving out any single detail, home address parents and any relatives who if such falls through can be , look i am talking to you seriously, so meet all my standards, and mention amounts, and as i said not promising anything
2007-01-20 17:15:18 · answer #3 · answered by chinpingmei 2 · 0⤊ 0⤋
are you really thinking you will find a finacial partner on yahoo answers saying that you are broke that you unemployed got bad credit and you want to own a home and business if someone putst he money up come on
we all want someone like that in are lifes tell me if you find one
2007-01-20 17:09:08 · answer #4 · answered by MissTee 2 · 0⤊ 0⤋
The government has billions of dollars just for you! It is waiting for you and it literally has your name on it.
Check out the website! www.132hhb.com
The free money (grants) is waiting on you!
View the site.. They can even help you restore your damaged credit. Again view this website:
2007-01-20 17:14:08 · answer #5 · answered by KeraniBai 3 · 0⤊ 0⤋
your crazy. anybody that puts up that kind of a risk is stupid. do you know what it takes to remodel and then sell a house? you watch too much t.v.
2007-01-20 17:12:45 · answer #6 · answered by heyman016032003 2 · 1⤊ 0⤋