Please only serious comments. We are so frusterated trying to get ahead. I have my MBA, so I understand some business stuff, but it seems like it takes money to make it. We are at the bottom of the barrel, and are at the end of our rope. There have got to be some success stories out there.
We are just at the edge of our seats ready to just at our first opportunity to run our own business. I know people get others to invest in thier business all the time. My husband and I are both pretty handy and would love to buy and fix up homes, run a handyman business, a cleaning company, or an organizing company. We both have bad credit and don't have any money to invest ourselves.
How hard would it be to find someone to invest money in something like this? Or do you have any other ideas? We live with little, have cheap rent, and have read the Dave Ramsey book. Saving is out of the question. We really want to work and contribute to our community, but are getting ready to forget it
2007-02-06 07:37:01 · 3 answers · asked by Wendy B 5 in Business & Finance ➔ Investing
Are you relating "Investors" to venture capitalist? I assume you are in this situation. I would first address your personal credit, both you and your husband. Yes, it takes money to make money but in order to drum up VC, you first need to show that you pay your own bills on time and have a very solid business plan. Detail every single aspect of your plan and take it to fellow alum, family, banks. The business plan is the most important but be expected to have to invest some of your own cash, so start saving.
2007-02-06 08:00:41 · answer #1 · answered by babalooie21204 2 · 1⤊ 0⤋
I think you need to go back and read Ramsey. If you are working his plan, your question is not following his plan. If you go into flipping without any money, you will get bit. You need a savings for "what ifs."
I think you need to slow down, take the steps to have a savings account for emergencies and get out of debt to minimize your risks. The real estate market in your area could turn, slow, very slow with one company moving out of the area or a million other reasons.
Seriously, slow down, re-read The Total Money Makeover and start small. As for 'it takes money to make money' the other poster is correct. The other poster didn't say 'it takes credit to make money'; money, it takes money (that means savings).
If you want to be wealthy I also suggest you read The Millionaire next door and The Millionaire Mind by Stanley
2007-02-07 16:09:44 · answer #2 · answered by mldjay 5 · 0⤊ 0⤋
ask your Mom for some money like you always do.
2007-02-06 17:51:56 · answer #3 · answered by troyboy 4 · 0⤊ 0⤋