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  1. Trud09

    Personal Guarantee a Business Loan

    I guess I should add more details: Debt used to purchase an income producing asset, such as an existing business with a personal guarantee. Initial running of the numbers show the asset should cover the debt 3 times over. It is obviously hard to say what the worst thing that can happen is...
  2. Trud09

    Personal Guarantee a Business Loan

    So are you saying it is a bad idea to personally guarantee? I am trying to filter out ideas and am wondering if having to personally guarantee should remove some options from my list.
  3. Trud09

    Personal Guarantee a Business Loan

    Hi There, I wanted to get your guys thought on personally guaranteeing a business loan. I have good credit score etc and some decent assets. Do you always, sometimes, or never risk them for your business? I understand there are personal preferences involved in the answer. Thank you for your reply.
  4. Trud09

    STOP Paying Rent: Live For Free

    GOLD! REAL ESTATE 
    Thought I would try adding a little value where I can. You don't have to use FHA anymore to do this. They charge extra with PMI that doesn't go away. If you can be approved for a conventional loan, some are going up to 97% LTV so only 3% down. I can't advertise nationally so PM me I might be...
  5. Trud09

    A Question on Cold Calls and Idea Extraction (Dane Maxwell Foundation)

    IDEA 
    Although I can't speak from first hand experience, I will still try to help. Jordan Belfort is a great guy to look up for how to sell over the phone. How much sales experience do you have? Do you have a defined goal for the phone conversation? Set an in person appointment? Speak with them and...
  6. Trud09

    Question about valuing Time vs learning Skills and Polygamy

    Thank you for your reply. I have started too many businesses and hoped people would beat down my door to buy from me based on product alone. I am still looking for that opportunity and I now see that is unwise. I am ready to buckle down and work hard to get in the fast line. Get rich quick...
  7. Trud09

    Picking an Idea and sticking with it.

    IDEA 
    This was close to the thought that I had in my mind but you articulated very well. Thank you.
  8. Trud09

    Picking an Idea and sticking with it.

    IDEA 
    Thank you for following up with this. I have found the book insightful with this. The only thing I am working through now is trying to narrow it down to one idea by using the WADM. I do have some questions left about when it is more valuable to pay someone else to do something compared to...
  9. Trud09

    Glad to have found an Active Entrepreneur Forum

    INTRO 
    I am in Dayton Ohio. I think I always assume that people with similar interests aren't going to be close to me so I don't include a location.
  10. Trud09

    Glad to have found an Active Entrepreneur Forum

    INTRO 
    Thank you for the welcome Joker. MJ is a genius and I am glad he wrote the book. I think I was going to read the book a while ago, but I thought the title of the book was corny. Little did I know.
  11. Trud09

    Glad to have found an Active Entrepreneur Forum

    INTRO 
    I am mostly looking for buy and hold (please don't kill me MJ) Rental Properties. I realized shortly after that I need a lot of cash to reach my goal. I currently don't have any but I have a few under contract to close next month. The Cash on Cash returns kill the stock market in my local area...
  12. Trud09

    Question about valuing Time vs learning Skills and Polygamy

    I was surprised how well you knew each one until I clicked your link. Nice website. I understand that the top performers for each are different. To me they are filling the same need. I will easily agree that I spread my interest too thin to be great at one thing. I guess I am looking for a...
  13. Trud09

    Glad to have found an Active Entrepreneur Forum

    INTRO 
    Hello, I have been a business owner since I was in college. For some reason the other evening I decided to search for an entrepreneur forum and this one came up. I am glad it did. I read the book and I am looking forward to applying all that I learned from it. My businesses include: Unlimited...
  14. Trud09

    [NEWB] How to work with an accountant?

    Not sure if your questions ever were answered. I would go with a private company if you want the best tax advice. Look for a CPA or an EA not a regular tax filer like H&R block. I am not saying those are bad, but those are W2 mills. Some will charge differently I would assume. The questions...
  15. Trud09

    Question about valuing Time vs learning Skills and Polygamy

    That is very interesting. How should I decipher whether or not it is polygamy? Is it if I am meeting the same need? Is it if I can sell the products together under one brand the consumer doesn't scratch their head? What if one naturally follows the other like the FA and taxes or Realtor and...
  16. Trud09

    Question about valuing Time vs learning Skills and Polygamy

    Hi There, I just finished reading the book and it was very insightful. I wish I had read it before starting a business and even before I started college. Anyway, my question(s) stem(s) from the book. What idea should I use to make my millions (I'm kidding, hopefully my value addition can be...
  17. Trud09

    Picking an Idea and sticking with it.

    IDEA 
    I partly run into this problem in my analysis of if I would be happy working on it. It is hard for me to know if I would like something unless I try it. About the only filter I have is I am a people person and I like being around people most of the day, not on a computer all day. This isn't a...
  18. Trud09

    Picking an Idea and sticking with it.

    IDEA 
    PPS. I ran all my ideas through the 5 laws. How closely do you stick to scale? This is likely answered in the book and if so, just tell me. If it is only a local idea, do you stick with it? Thank you for your reply
  19. Trud09

    Picking an Idea and sticking with it.

    IDEA 
    Hello, I just found this forum last night and have had many insights already. I have lived off my self employment income since I graduated and the income keeps increasing. I am wanting to build a 2nd business now as I now see that my source of income has high risk (aka not having control). It...
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