RentalStarter - A Midwest Real Estate Investment Company - page 3.

ZyclonRacerX

member

Activity: 66

Merit: 10

Quote from: Branny on January 04, 2016, 01:52:30 PM

<>My great mistake from the start was the mistaken belief that I Could take $1 million dollars in un-leveraged property to a bank and they would fawn over the prospect of lending.<>

So what you're telling me is US banks aren't tripping all over each other in hopes of lending money to "Full Power Asia Investment LTD [...] a worldwide real estate investment firm"? Shocked

Unconscionable!

Quote from: NotLambchop on July 30, 2014, 08:04:09 AM

<>

Quote

RentalStarter is issuing a total of 300,000 units of our Fund for purchase to the public.
This total represents 30% of the company, which is of a total of 1,000,000 units.

In short, a "unit" represents 1/1,000,000th of Full Power Asia Investment LTD, operated by DAVID CHONG SIN ONG.
Who is a failed third-rate scammer.
Who has websites dedicated to exposing him: http://davidchongsinong.wordpress.com/
In all likelihood, dead broke.

TL;DR: The shares listed on Havelock represent NOTHING. They are neither shares of Branny, RentalStarter, Your New Home LLC, Benny, ...but a dude with SIN baked right into his name.

P.S. also lol @ un-leveraged [sic] applied to publicly-held company.

Branny

sr. member

Activity: 406

Merit: 250

Quote from: mercenar1e on January 03, 2016, 06:55:57 AM

Quote

Branny - But you still need $1m to buy condos in some of those locations (Specifically NYC and LA), then you have to deal with the fact that a government entity could very possibly decide one day not to allow airbnb rentals due to the severe amount of competition.

We've talked a great deal about AirBnB rentals and other daily/weekly rentals in various hotspots in the area (Columbus, the great lakes for instance), it's something I'd really like to do, but we have to get to the point that we can get loans at our leisure. Because of our strategy of buying low end properties, banks are very cautious to lend to us. It's my hope that after we file our taxes this year, we can take all our documents to more banks and have a better chance. Last year I shopped about 4 different local lenders that deal with rentals, since we had a decent 2015 I'm planning on shopping 10-20 banks and seeing how much funding I can secure. I also have a few private lenders willing to lend but the rates are a bit high.

A few people i know are making a killing with AirBnB and its not true about the price, some condos in the NYC area (outside of Manhattan) are going for $300,000-$570,000 and co-ops are $120,000-$230,000.

The rentals in Brooklyn looks similar to this.

$1,200-$1,400 - 1 Bedroom
$1,600-$1,800 - 2 Bedroom
$1,900-$2,200 - 3 Bedrooms

If you're having trouble finding a traditional mortgage than another option would be to get a secured personal loan with one of the assets that you own. It's a major risk to shareholders in two ways. The first is if you stop paying they can potentially take the property for failure to pay and the second.. any bank loan would mean little to no profits for shareholders until its paid off. That can take months or even years.

This whole plan could have worked a lot better in a major metropolitan area.

We already carry a deal of bank debt. While airbnb rentals look profitable, our current properties are also profitable.

While your 3 bedroom in Brooklyn rents for $2,000 with a cost of $400,000 , we currently average a per-unit price of $32,000 with a average rental income of $650 per unit. That would equal a need in NYC or a major metro area to buy a similar property with the increased rent amount for under $100,000 which is next to impossible.

The major hurdle of course here in Ohio, as per the many lenders I've talked to has been Ohio's foreclosure period. It takes a bank close to a year to foreclose on a individual, which makes them very skiddish on lending, especially to properties that are worth less than $50,000 due to the minimum legal cost to foreclose on an asset.

My great mistake from the start was the mistaken belief that I Could take $1 million dollars in un-leveraged property to a bank and they would fawn over the prospect of lending. They simply have not, virtually all of them want to see 2-3 years of solid cashflow before they'll seriously consider loans. January 2016 marks over two-and-a-half years of being in operation and the full second year of IRS filed tax returns for our company.

mercenar1e

member

Activity: 112

Merit: 10

Quote

Branny - But you still need $1m to buy condos in some of those locations (Specifically NYC and LA), then you have to deal with the fact that a government entity could very possibly decide one day not to allow airbnb rentals due to the severe amount of competition.

We've talked a great deal about AirBnB rentals and other daily/weekly rentals in various hotspots in the area (Columbus, the great lakes for instance), it's something I'd really like to do, but we have to get to the point that we can get loans at our leisure. Because of our strategy of buying low end properties, banks are very cautious to lend to us. It's my hope that after we file our taxes this year, we can take all our documents to more banks and have a better chance. Last year I shopped about 4 different local lenders that deal with rentals, since we had a decent 2015 I'm planning on shopping 10-20 banks and seeing how much funding I can secure. I also have a few private lenders willing to lend but the rates are a bit high.

A few people i know are making a killing with AirBnB and its not true about the price, some condos in the NYC area (outside of Manhattan) are going for $300,000-$570,000 and co-ops are $120,000-$230,000.

The rentals in Brooklyn looks similar to this.

$1,200-$1,400 - 1 Bedroom
$1,600-$1,800 - 2 Bedroom
$1,900-$2,200 - 3 Bedrooms

If you're having trouble finding a traditional mortgage than another option would be to get a secured personal loan with one of the assets that you own. It's a major risk to shareholders in two ways. The first is if you stop paying they can potentially take the property for failure to pay and the second.. any bank loan would mean little to no profits for shareholders until its paid off. That can take months or even years.

This whole plan could have worked a lot better in a major metropolitan area.

ZyclonRacerX

member

Activity: 66

Merit: 10

Quote from: Branny on January 01, 2016, 10:10:17 AM

... I'm planning on shopping 10-20 banks and seeing how much funding I can secure. I also have a few private lenders willing to lend but the rates are a bit high.

Better idea:

1. Buy through the asks to ฿0.020
2. Freeze trading for a month with *another* IPO, @ *below ฿0.020* Shocked

3.

4. PROFIT!

I got ideas, bro. Need a partner?

Branny

sr. member

Activity: 406

Merit: 250

Quote from: mercenar1e on December 30, 2015, 11:47:12 PM

Success in Ohio out of all places Huh

with $1,000,000 the better option would be to purchase condos in high metropolitan areas (Miami,NYC,LA) and rent them out on a day to day basis with AirBnB.. maybe im wrong but to me it just seems that it would have a pretty good ROI.

But you still need $1m to buy condos in some of those locations (Specifically NYC and LA), then you have to deal with the fact that a government entity could very possibly decide one day not to allow airbnb rentals due to the severe amount of competition.

We've talked a great deal about AirBnB rentals and other daily/weekly rentals in various hotspots in the area (Columbus, the great lakes for instance), it's something I'd really like to do, but we have to get to the point that we can get loans at our leisure. Because of our strategy of buying low end properties, banks are very cautious to lend to us. It's my hope that after we file our taxes this year, we can take all our documents to more banks and have a better chance. Last year I shopped about 4 different local lenders that deal with rentals, since we had a decent 2015 I'm planning on shopping 10-20 banks and seeing how much funding I can secure. I also have a few private lenders willing to lend but the rates are a bit high.

ZyclonRacerX

member

Activity: 66

Merit: 10

Quote from: shmoula on December 31, 2015, 05:15:50 AM

Continue with trolling, I'm buying Wink

Hmm... Clearly not buying *enough* Undecided

Last Price: ฿0.00300000 <== Shocked

Bid: 9/9 ฿0.00206000
Ask: 2/2 ฿0.00379999

shmoula

sr. member

Activity: 304

Merit: 250

Continue with trolling, I'm buying Wink

mercenar1e

member

Activity: 112

Merit: 10

Success in Ohio out of all places Huh

with $1,000,000 the better option would be to purchase condos in high metropolitan areas (Miami,NYC,LA) and rent them out on a day to day basis with AirBnB.. maybe im wrong but to me it just seems that it would have a pretty good ROI.

ZyclonRacerX

member

Activity: 66

Merit: 10

Full Power Asia Investment LTD, a worldwide real estate investment firm currently specializing in acquisition, rehab and cash flowing income producing real real estate in Central Ohio ain't doing so well Sad

Last Price    ฿0.00400000
Bid 5/5   ฿0.00310000   ฿0.0155
Ask 557/561   ฿0.00430000   ฿2.3951 <== Get in the van, no time to explain!

ZyclonRacerX

member

Activity: 66

Merit: 10

Last Price ฿0.00418
High bid: ฿0.00201001
Support: ฿0.00080001 (i.e. if you want to sell >30 (thirty) sharez)
Color me shocked Sad

dropt

legendary

Activity: 1512

Merit: 1000

Quote from: ZyclonRacerX on December 22, 2015, 02:39:58 PM

^^
Lol, ok, totally not butthurt, just spredin' some sunshine Cheesy

Re. "hyphen" -- meant apostrophe, as in

Quote from: dropt on December 21, 2015, 11:38:29 PM

would be if the Nazi's had spent some time firing good ol Zyklon (PS: It's spelled with a 'k') around Poland.

Don't do it, or move it right after the "ol," where it belongs.
Back on topic tho: Got anything to share about this deal of the century, or you just here for friendly chitchat?

Nothing to share. I held a few shares way back when but sold them off. I keep an eye on it every now and then because of all of the other BS offerings this one seemed to at least have a plausible long-term business model. However, no divs since August. Likely why the valuation is going into the shitter.

ZyclonRacerX

member

Activity: 66

Merit: 10

^^
Lol, ok, totally not butthurt, just spredin' some sunshine Cheesy

Re. "hyphen" -- meant apostrophe, as in

Quote from: dropt on December 21, 2015, 11:38:29 PM

would be if the Nazi's had spent some time firing good ol Zyklon (PS: It's spelled with a 'k') around Poland.

Don't do it, or move it right after the "ol," where it belongs.
Back on topic tho: Got anything to share about this deal of the century, or you just here for friendly chitchat?

dropt

legendary

Activity: 1512

Merit: 1000

Quote from: ZyclonRacerX on December 22, 2015, 10:34:59 AM

>Getting owned again? Kind of hard when I don't own any RS.

Sure you do. Or equally hilarious HASH, peddled by his twin bro. Or, come to think of it, just about any 'security' on offer @ Havelock. Otherwise, why such rage?

Rage?

Try a little harder, would you?

Quote

Since you're also a ~~grammar Nazi~~ scholar of spellings, consider omitting the hyphen when pluralizing the word Nazi. Or any word.

Pardon?

I guess you really do need glasses.

ZyclonRacerX

member

Activity: 66

Merit: 10

>Getting owned again? Kind of hard when I don't own any RS.

Sure you do. Or equally hilarious HASH, peddled by his twin bro. Or, come to think of it, just about any 'security' on offer @ Havelock. Otherwise, why such rage?

>Nice handle btw. I wonder how different today would be if the Nazi's had spent some time firing good ol Zyklon (PS: It's spelled with a 'k') around Poland.

If you're referring to Zyklon B, prussic acid-infused granules manufactured by IG Farben, it was never fired, by Nazis or anyone else, in Poland or elsewhere. It came in tins, rapidly dispersing through the air after being introduced into an enclosed space, due to being highly volatile (boiling point 25.6 °C or 78.1 °F). The process was often aided by heated air passed over the granules. /schooling

Since you're also a ~~grammar Nazi~~ scholar of spellings, consider omitting the hyphen when pluralizing the word Nazi. Or any word.
Doing so would make you appear less retarded.

Back on topic: How about som cheap sharez? Only ฿0.00425! Going by the cost of the last tranche, a deal at ~~twice~~ THREE TIMES the price Shocked

dropt

legendary

Activity: 1512

Merit: 1000

Quote from: ZyclonRacerX on December 21, 2015, 07:32:59 PM

Nah, rather laugh in your face, for getting owned again.
By another Midwestern yokel selling unregistered 'securities' on an unlicensed 'exchange.'
SFYL

https://web.archive.org/web/20110106022728/http://20yearbillionaire.com/who-is-the-worlds-richest-man-i-am/ <==click this Cheesy

Getting owned again? Kind of hard when I don't own any RS. But don't let that stop you from eating another doughnut in a self-celebratory effort to keep your ass round.

Nice handle btw. I wonder how different today would be if the Nazi's had spent some time firing good ol Zyklon (PS: It's spelled with a 'k') around Poland.

ZyclonRacerX

member

Activity: 66

Merit: 10

Quote from: dropt on December 21, 2015, 06:16:06 PM

Quote from: ZyclonRacerX on December 21, 2015, 08:51:30 AM

Last Price ฿0.00425?
No buys til ฿0.00184?! Shocked

Excelsior!
Cheesy

Don't you have some fine print in a rental agreement to go moan about?

Nah, rather laugh in your face, for getting owned again.
By another Midwestern yokel selling unregistered 'securities' on an unlicensed 'exchange.'
SFYL

https://web.archive.org/web/20110106022728/http://20yearbillionaire.com/who-is-the-worlds-richest-man-i-am/ <==click this Cheesy

dropt

legendary

Activity: 1512

Merit: 1000

Quote from: ZyclonRacerX on December 21, 2015, 08:51:30 AM

Last Price ฿0.00425?
No buys til ฿0.00184?! Shocked

Excelsior!
Cheesy

Don't you have some fine print in a rental agreement to go moan about?

ZyclonRacerX

member

Activity: 66

Merit: 10

Last Price ฿0.00425?
No buys til ฿0.00184?! Shocked

Excelsior!
Cheesy

ZyclonRacerX

member

Activity: 66

Merit: 10

Quote from: Branny on December 18, 2015, 06:24:01 PM

As shocking as it may be<>

Shocking? A Havelock security making money for its ~~marks~~ investors -- now that would be shocking.
This? Not so much.
The only reason you haven't been popped for issuing unregistered securities is because, up to this point, no one gave a damn. The wheels of justice turn notoriously slow. Wait for it

Branny

sr. member

Activity: 406

Merit: 250

As shocking as it may be, I do not control Havelock share price.

As shocking as it may be, we as a company have around 100 people that rely on us for housing as well as are supporting primary employment for 3 different families.

Additionally we've had a decently profitable year, shareholders will be sent a copy of our pre-audit P&L sheet that we're providing to our accountant and the IRS.

Topic: RentalStarter - A Midwest Real Estate Investment Company - page 3. (Read 120179 times)