late-nite, I've had it RANT - Contractor Talk - Professional Construction and Remodeling Forum

angus242 · 10-03-2009, 01:14 AM

I just need to vent

What a flucked up week!

First, my business proposal that I've spent almost 3 months getting together has blown up in my face. I don't know finance and banking but I thought I explained what I wanted to do to all the right people. Apparently they all have ADD and didn't LISTEN. Now I have customers lining up for a goddam product I can't flucking sell! And because of the socialist bullshiite finance industry, I'm white, American-born and not eligible for squat when it comes to loans or lines of credit. Good thing I've made damn sure over the past 5 years I haven't borrowed money so I don't owe anyone shiite. Great job Angus! You are debt free but since you haven't been stupid with credit, you aren't able to get any. WHOOPIE!!!!

So, to take my mind off that crap and back on to what I do how to do....open the boxes for my long awaited kick-ass tile backsplash....WRONG TILES!!!!!!!!!!!

Good thing my son told me today that he might have to drop out of his 4th year of college cause the socialist bullshiite finance industry changed student loan requirements and he's $10k short of finishing. Oh sorry, son, I don't qualify either. I've been too good with keeping myself out of debt and building my business from scratch to be able to ACTUALLY HELP MY SON!!!!

THIS FLUCKING SUCKS SWEATY BUNGHOLE!!!!!!!!!

Rant over...............

Edit: Not over....and the news of no olympics, while might amuse some, just means that I know quite a few people in commercial construction that are soon to be jobless. Oh what a happy day............

nEighter · 10-03-2009, 01:49 AM

so weird that you have to be in debt to occur debt.. never quite understood that. I am about to rip the heads off anyone who is underbidding or in my industries cause I can't get any business cause everyone is trying to outdo each other price wise and not just go back to selling a job for what it is worth.. I am frustrated as hell. Spoke with a homeowner with a huge house.. got it painted (3) colors all custom like for $2900.00!!!! WTMFHFSCMF!!!!!!

**loneframer** · 10-03-2009, 06:11 AM

My ex-wife taught me how to establish credit.
1. Take a credit card with a $1000 limit.
2. Max it out to within $50 of limit.
3. Pay the minimum payment to the nearest $100.
4. Wait for the issuer to up your limit.
5. Repeat process.

I watched her credit limit increase to $20,000 in less than a year.

We were in the process of building a house and the card had a great interest rate that we took advantage of during construction.

rselectric1 · 10-03-2009, 06:24 AM

Good rant Angus..ALL justified!!!!!!
It kind of reminds me of that old saying "before the bank will give you a loan, you have to prove to them you don't need it"

ampman · 10-03-2009, 06:40 AM

i built a 40 x60 shop , it took me 3 months to get financing ,the permit took 2 weeks wtf

jarvis design · 10-03-2009, 07:51 AM

Hey Angus, sorry to hear about your crap week buddy. Just wondering, but do you have any type of government backed financing down there?

About 10 years ago I needed 50K to buy another business - but didn't have the "credit" to get it from the big banks. I went to the BDC (business development bank of Canada). They lent based on your cash-flow and your proposal. They lended me $60K. Interest rate was a couple of points above the banks but I was able to pay that loan (which was for 5 years) off in 4.

good luck

SLSTech · 10-03-2009, 07:56 AM

Sorry to hear about your week Angus, but thank you - it made mine look a lot better

As for your sons college - if you are debt free can you refinance say your truck or something through a credit union for the cash required & to help build your credit
The SBA has a 25K loan you can also apply for (need to do a 5 year plan, etc...) - I would love to have applied for the 35K no interest one, but that means you have had to be stupid with your credit which I'm not either.

J F · 10-03-2009, 08:03 AM

Sorry to hear it angus, sounds like a bitch of a week.

I'll have a few glasses of scotch later today to help you with your pain.

Hope you can get things worked out.

J F · 10-03-2009, 08:05 AM

Quote:

Originally Posted by rselectric1

Good rant Angus..ALL justified!!!!!!
It kind of reminds me of that old saying "before the bank will give you a loan, you have to prove to them you don't need it"

That's exactly what has happened in the last 18 months....back to how it used to be before all the easy money.

If angus would have needed a loan 2-3 years ago, all he would have needed was a pulse to qualify.

**ChrWright** · 10-03-2009, 08:44 AM

F-ing sucks on all counts. Sorry to hear you had a pile-on week.

angus242 · 10-03-2009, 09:30 PM

Thanks for all the replies. I'm taking the night off from worrying about crap.

Blue Moon seasonal......comin up!!!!!!!!!!

J F · 10-03-2009, 09:35 PM

good for ya'

angus242 · 10-03-2009, 09:53 PM

Quote:

Originally Posted by jimmy wonton

cheer up! i never get upset. you have to be cheerful! i just come home and kick my cat. then i feel better. jimmy

If I had a cat, I would kick it. The dogs, however, they get petting!

And I get (another) Blue Moon!

OGStilts · 10-03-2009, 10:00 PM

Sorry Angus about your troubles. I can't say that I agree about the Olympics but that's just because I don't trust these politicians with that kind of money or power not because I want to see more guys get laid off around here. In the short term I think it may hurt some people but in the long run I think it is a very good thing for the city and it's citizens that we didn't get the Olympics.

angus242 · 10-03-2009, 10:44 PM

Quote:

Originally Posted by jimmy wonton

what is blue moon?

Well Blue Moon in itself is awesome but the seasonal is da shizzle!

Cheers to ME!!!!!!!!!

angus242 · 10-03-2009, 10:45 PM

Quote:

Originally Posted by OGStilts

Sorry Angus about your troubles. I can't say that I agree about the Olympics but that's just because I don't trust these politicians with that kind of money or power not because I want to see more guys get laid off around here. In the short term I think it may hurt some people but in the long run I think it is a very good thing for the city and it's citizens that we didn't get the Olympics.

I know but I am positive that some of my friends will be unemployed soon because of it and going into the holiday season, well that just BITES.

Rockhound · 10-04-2009, 09:45 AM

I know just what you're saying Angus. I always paid cash so I wouldn't get caught up in the credit nightmare all my friends did. Imagine my shock when I was told that BAD credit is better than NO credit.

PMbrian · 10-04-2009, 10:05 AM

Socialism-
The needy are supported by you and me, but when the supporters need, we are SOL-

Remember to vote “Right” next time!

angus242 · 10-04-2009, 10:17 AM

This is the one thing about everything that happened to me last week that keeps burning me.

I have a mentor who I lean on when it comes to business advice. He grew his business from a small 2-guy setup, struggling while working out of his basement to a multi-million dollar corporation. We was able to retire at 50 and does things like golf or ride motorcycles for a living

When I asked him how he made the jump from basement business to big business he said the lucky break was finding a small, local bank that they were able to "sell" their business plan to the bank president. Long story short, that's the route I went. Well my friend was right UNTIL, the government bail out of the financial industry. The local banker I found is actually a great guy and will be getting our business (soon). The most surprising part of my very informative conversation with him was when he said, We, as a small bank like to invest in the local community but we now have our hands tied by new federal regulations. The finance community is now ultra conservative. The days of "hand shake business" are over.

Well I'm (really) down but not out. We are taking the weekend off but will be back to the grind on Monday. I'm gonna start looking at the investors route. I honestly don't think I'll be successful but I feel I must try.

The worst part is we were going to hire someone to sell for us. The ooppsie was she started to sell before we were ready. Last week I had approx $3.2MIL in verbal interest. Now I KNOW that isn't a realistic number and verbal mean squat but even 10% of that would be huge! Our business plan actually listed sales figures 3.5% of that number....and we considered that a success....especially for the first year of a new venture.

Here's to another interesting week.....

monkey · 10-05-2009, 07:19 PM

Quote:

Originally Posted by loneframer

My ex-wife taught me how to establish credit.
1. Take a credit card with a $1000 limit.
2. Max it out to within $50 of limit.
3. Pay the minimum payment to the nearest $100.
4. Wait for the issuer to up your limit.
5. Repeat process.

I watched her credit limit increase to $20,000 in less than a year.

We were in the process of building a house and the card had a great interest rate that we took advantage of during construction.

Another way
This is from a guy I knew about 15 years ago....
Get any card and put anything on it, does not have to be much. say $250.00
get your bill and write a check for $2500.00
whats a another zero among friends?
They don't mind.
If you don't complain about the mistake like it doesn't even matter the phone starts ringing....
"sir, we would like to offer you.....