Making home ownership reachable for anyone, and getting Rich in the process.
What is your idea / business and to whom is it addressed?
I sell and build High quality prefab homes that are fully finished, insulated and plumbed and wired to code. The purchase price for these homes is around 10k to 35k and they are from one bed one Bath 400SqFt to four bed three bath 2700SqFt. The homes once they are built appraises on average of about 6 or 7 times more than their purchase price.
How should the idea/business earn money?
The manufacturer just offered me credit. With a 30 percent down payment I can get the house, and pay the rest on my time frame, this allows me to no credit check owner finance my customers with a 30 percent down payment (my price is usually double the manufacturers) if a customer does not have land to build on I usually find them a lot with septic and a power pole and purchase it and finance it in with the home. Since the manufacturer has no time frame for me to pay the rest of the house, I can make the customers monthly payment as affordable as possible.
At what stage is the idea / business at the moment?
I want to find an investor that will pay my customers down payments for the ones that do not have it, and in return I will let them charge whatever interest they want, and be the lien holder of the entire property. If the customer defaults (which they will not because I have made it as affordable as they choose.) The investor just got a property for 30 percent of the purchase price which appraises for about 7 times more that that purchase price. That mean you can potentially get a brand new home for about 10 percent of the market value. Also this will change the world it will make to where virtually anyone can own a home. If they don't have to have a bunch of cash for a down payment and credit doesn't matter, and there monthly is as cheap as they need it, then literally anyone can own a home. So will you make a difference with me.
What do you need?
A revolving line of credit, that the entire balance will be paid in full every 90 days at whatever interest rate you desire, starting at about 65k and as we grow the LOC will have to grow. The residual income will be steady flowing in.
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