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How can I raise $30,000 for a great business opportunity?
I have a chance to purchase a motel, restaurant, two bedroom house, and a cottage for a great price, but I need about $30,000 for the down payment and some necessary remodeling to get it ready to open. The problem? I have bad credit (it is a long story and I'll spare you the details). Does anybody have any ideas on how I can raise or borrow the 30 thousand dollars?
7 Answers
- Anonymous1 decade agoFavorite Answer
If you cannot handle your own personal finances what makes you think you can handle a motel?
- KitianyLv 51 decade ago
Best is the old fashion way -- savings over time. $30,000 can be saved by most people. There will be other "opportunities" when you have demonstrated you can handle money.
My parents earned less than $10,000 per year, raised 4 kids, all who went to college, and had about $200,000 excluding the value of their home, by the time they retired.
Besides, it is not just the down payment -- you need working capital -- that is the money you need to pay workers, pay electricity and water, pay for food in your restaurant. If a relative asked me for $30,000 for a business, I would ask for a business plan and a track record of being able to make money.
So work on that record first.
- 1 decade ago
I'm gonna guess that nobody's gonns lend yer broke *ss the money unless you can cough up some mean colateral all of a sudden.....
so...
sounds like raising it's the option
bummer about these capitolist pigs:
takes money to make money
investments of whatever sort apparently return money invested plus some....
um investments
uh dunno
sh*t - supply and demand i guess
somewhere in your area or over the internet somewhere are people who demand something...supply them
all sorts of things are worth money...
heheh uh goods services
what do they need?
would it be worth your time to invest in something in bulk?
but then where and how to sell?
uh
jeez...if i had the time, dude, i'd go lookin up popular products or services fer ya but
i guess that's your job
um
get whatever money you can together and gamble on some interim investment or another
um
or several
crap..... good luck, friend
Source(s): Broke MFer with no recognizable business saavy - 1 decade ago
Try getting a small business loan through the government. Sometimes if you meet certain qualifications no matter how shaky your credit is, you may qualify.
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- KokopelliLv 71 decade ago
Get 30,000 people to give you $1 each.
Source(s): No animals or plants were harmed in the answering of this question. Any similarity with any person, living or dead, is purely coincidental and unintended. This answer contains a substance known by the state of California to cause excessive moronic stupidity. Use with adequate ventilation. - Anonymous1 decade ago
let this one go,,,,you don't have any idea what you are getting yourself into and if you already have poor skills with money, you'd better stay away from business., NO ONE is going to lend someone with poor credit money...No ONE.....The IRS can jail you for not paying them.....
- Anonymous1 decade ago
by shitting your pants and selling it on ebay. Good luck!