Question
Why does no one want to start up a company?
I am very interested in investing, owning rentals, and basically anything to try and have unearned income. I know the best path to financial success is to own property. 70% of the Fortune 500 got their original wealth from real estate. People know I am smart with investing, taxes, and the legal system fro my job in a housing department and a bit of active investing. I want to start buying some rental properties. However I can not come up with 20% down payment (minimum) on my own without cashing in my brokerage account. Everyone responsible and financially-smart I talk to about starting an LLC says it's a great idea but they never want to get the process started. You can't keep talking about it and talking about it and never do anything. I feel you need to just jump in and get started. Do you think they are really no interested in investing (forming an LLC, etc), don't like me and don't want to be involved, or what? I'd really like to pool capital but no one is willing. Help?!
8 months ago - 3 answers
Best Answer
Chosen by Asker
Right now is the perfect time to start a business because everything is on sale, real estate, stocks, businesses, everything is. Once the economy bounces around you will be in a powerful position to take control of what others thought of as a risk for them. Good for you that you invest in assets. With your friends it sounds like they aren't as entrepreneurial as you would want them to be, and maybe they can't help but stick to their ideas of being an employee and can't see past the 9 to 5. Some people really can't because its all they know. Really can't blame them its what there used to, but if you want to get funding for your company, make a solid business plan and get in touch with the SBA and Angel investors and also work on getting a solid credit score. They help out entrepreneurs like yourself, if you have a great business plan and partially put some of your money down. They want to make sure you also are willing to invest in your ideas as well. I also want to start my own company, I am just trying to figure out what is better to finish my 2 years at college or to just go for it and open up my business and get the ball rolling. I'm in the start up phase too just like you. Good luck to you and your company, and your funding.
Source(s)
Personal Experience
by Dany L
8 months ago
Asker's Rating: 
Other Answers
Supposedly, 60% of people in college are going to own their own companies within the next 4 years. And, I am about to start a Limited Liability Corporation.
by Nick- 8 months ago
Well the economy is really unpredictable now, I don't think anyone wants to take risks. I say find some friends and pool some money. come up with a bullet proof business plan and buy some cheap property. If the business goes south then you can always do something with the property.
by doug- 8 months ago