Update to my payday loan idea

14. April 2012 · Comments Off · Categories: Loans

Ah, looks like I found a store front and even found some part time mentoring help as well!

Right after I posted my last entry on my payday loan idea, a friend of mine told me about a location he passes on the way to work everyday and took me over to it. Man, it is a great spot!

Not only that, but his brother use to run a couple cash advance stores back in college and is now a loan administrator at a large local bank here in town as well and is willing to mentor me in exchange for % in the business. Now that’s what I call getting lucky!

From what I have been told, I need to go file with the city and local government that I want to open a business here in my city and also file an application so I can open a payday loan business ( certain rules and regulations I have to follow for this kind of business ). That should be almost no work, but I hate paper work and will need to have my lawyer look it over and make sure its all kosher and good for me so I do not get myself into some kind of trouble.

I just need to close the deal with the property owner now. I have the phone number and name of the company leasing the spot, but no one is answering the phone today, so I will have to wait until Monday to get some more information. My friend told me it has been up for lease for over 2 years now, so I am hoping to use that information to my advantage when trying to close in on a deal for the spot. If it has been sitting for this long, then maybe they will be ready to settle on a lower price point just to get it rented.

Since my friend’s brother is a loan administrator, I should be able to get some good info on securing the $25k loan I need to start the business so that I have good cash flow to give out the loans and float until they are paid. He should be able to give me some help or an edge since he want’s % of the business and since he will want it to be as profitable as possible ( since he is getting a % of course ), then he will also make sure I can secure funding as well which is a huge plus.

It seems everything is coming along nicely now. I already have security in place as I have a very good guard dog already at home and also have plenty of guns and ammo as well. I just need to hook up with a company like ATD or Brinks and also find some bullet proof glass and part time help as well so when I need to leave or go out, someone is watching the store for me and making sure everything is going alright. Man, this is going to be huge for me!

SunTrust Student Banking Can Reduce Loan Interest

14. April 2012 · Comments Off · Categories: Loans

College is a time of transition. Whether you are fresh out of high school or are returning to the classroom after taking a break for your family/career, it’s definitely safe to say that it does not go without some lifestyle change. The average American college student moves to a dorm and has to get used to living with new people. Sure, it’s a fun time—it’s a really fun time—but it’s not always easy. Pretty soon, these students start to realize that being on their own is kind of challenging. Mom used to the laundry, but now they realize they have to save the quarters to get it done. And for those that move to an apartment, what about rent? What about making sure your have your roommate’s half?

Above are just a few examples about how money can affect a college student from the get-go. SunTrust Bank offers some great options for student checking accounts that can put you (and your student) at peace. And one of the biggest perks—if you have certain private loans through SunTrust, stay tuned. You might reap an even greater reward.

With a SunTrust college checking account, you can have easy access to your money with online banking. What if you’re on the go a lot? Don’t worry. Mobile banking is easy to use as well. You will get theft protection, which is either priced at a small fee or included in your package, as well as unlimited check card usage with no monthly fee—perfect for those daily Starbucks runs before your 8am class. Your first order of SunTrust-exclusive checkbooks is on the house. You can also work with your parents to set up an overdraft protection plan, and figure out how to handle direct deposits as well as online check reorders.

With a minimum deposit of $100, you can well on your way to SunTrust happiness. But what about that loan incentive?

Back to that—with a SunTrust Custom Choice Loan, you are eligible to have 0.25% taken from your interest rate simply by having a SunTrust bank account. To qualify, you must set up automatic payments from your account to be taken out every month. Doing this makes you look like “less of a risk,” so in return, SunTrust gives you this nice little reward. With affordable interest rates, excellent customer service, and manageable monthly payments, it seems SunTrust would be an excellent choice when seeking out a private loan provider.

Opening A Cash Adance Store In My Area

14. April 2012 · Comments Off · Categories: Loans

I got to thinking about some more business ideas I had and I remember something my grandfather told me once, “Have your money, make you money”. And what better way to do this then to give out loans to people and collect on the interest?

With that idea alone, I decided to open a short loan service ( also known as a payday loan service ). I mean, how hard could it be?

I scouted around my local area at some busy intersections and areas with low income as well trying to find the right property. However, this was more challenging then it looked at most of the prime real estate for this had already been bought up by liquor stores and other pay day loan shops. I did find a few empty areas, but they were just way too expensive for my taste and some of them has been pay day loan shops before that didn’t make it, so I took that as a bad sign.

Then I thought about just making a website or a phone call service where you give me all your info and I just process it over the phone or online. That would save me tons of money each month on rent and taxes just in property alone!

I browses a couple of sites similar to what I wanted ( site preview ) and I even got some good starting points on who my customers should be:


Currently have a job (or receive regular income)
Make at least $1000 per month
Are 18 years of age or older and a U.S. citizen
Have a bank account

I also need a plan for security as well. I need to have a gun on me at all times and also maybe a shotgun in the store as well. I need one of those safes that can only be opened on a timer and with 2 keys as well. Also, I can not forget a guard dog to help watch it at night and also an alarm system and bullet proof glass as well.

I should also make some friends with some attorneys as well and maybe also some bankers. These 2 alone would be able to help me collect on payments and legal help when needed as well.

I still have a lot to think about and a ton more to plan out. Finding a good retail store location is proving a lot more work then I ever thought and I may have to hire a realtor to look for me some spots as I am too busy to devote a full time life to finding a store front. I also need to secure a loan for about 25,000 dollars so I can give out cash as needed and float the loans until pay back. If I keep reinvesting the interest and payments back into my new business, I plan on being able to repay back the loan in full and start making a profit in less then 14 months time for sure.

The only other thing I will need is to go over the legal documents and secure some help setting it up.

Have you checked out Life Insurance Rates?

08. April 2012 · Comments Off · Categories: Uncategorized

Me and my wife recently decided to renew our life insurance options and went over our current providers package and compared it to other rates we may be able to get from other companies.

We were shocked at what we found!

Yes, there are many providers for life insurance and many of them have different grades, ratings, and options.. so it is very important to make sure you compare apples to apples when looking at quotes from life insurance companies. There is no sense in ditching a high grade plan that is more expensive, for a plan that is provided from a sub par provider that might not be around next year and runs off with your money.

There is not a simple way to collect this information in general. Most people have to call around, fill out tons of forms, wait for a callback, then compare and take notes on all the plans so they can review them for later and make a choice. That is, until now.

I recently came across lifeinsurancerates.com at http://www.lifeinsurancerates.com/ and I was very impressed with the fact I could fill out 1 set of forms and get quotes from multiple leading life insurance companies. I mean, where was this type of site 10 years ago when I had spent 2 weeks of my time and a whole notebook of paper up?

If you haven’t tried it already, you should really look into it and just see the price difference for some of these companies. I was quoted anywhere from sub $100 a month to several hundred a month for a very low plan that would cover enough for our funeral’s, some debt we built up with our home, and to leave our kids a little bit to help them through as well. It was a real eye opener to see how much different the same plan can cost with different companies.

Being informed is the best way to save money and make sure you are not being taken advantage of when buying life insurance. If you are not careful, you will be paying in a ton of money to a company that might not be around in a few years, or downgrade your coverage because they were not able to handle you investment correctly with your life insurance.

Me and my wife found a really nice plan for both Term and Universal plans and we are going to take out more then one plan to make sure we are protected and can provide for our children in case something happened to us. Nothing is worse then leaving this world and knowing before you pass that your children or spouse will be burdened with debt that they can not handle because you are now gone, unless you leave this world and then your sub-standard life insurance carrier didn’t pay out ( or couldn’t pay out ) as expected because you trusted your money to a company that not only over charged you, but ended up going out of business before a payout could be made.

Have you tried Google Plus 1?

08. April 2012 · Comments Off · Categories: Uncategorized

Have you been using Google Plus One? It seems to be all the rage right now and for pretty good reason too.

I recently decided to try it out since my wife was using it and telling me all the great benefits of it. All she says is how much she just loved to find stuff on the Internet and Pintrest and save it for later, so she started playing with Google Plus One and can now find things while she searches and then share those with her friends and family. I like to think of it as a giant collection of stuff you wanna keep track of, that you can also share with friends, and also see what your friends like.

This is from their site itself:

+1 gets conversations going. Click the +1 button to give something your public stamp of approval. Then, if you want to share right away, add a comment and send it to the right circles on Google+.

The next time your friends and contacts search on Google, they could see your +1. You’ll help them find the best stuff on the web – and you might just start up another conversation!

So what kind of stuff can you put into Plus One? ANYTHING! My wife likes to go in and plus things that interest her, like anything that comes out of Oprah’s mouth, recipes, health articles, scrap booking, and anything related to Aerosmith. She also likes to go over crafts and ornaments and positive sayings that people have said as well. I just wish the recipes she shares were as good tasting as all the other people say they are, just don’t tell her that.

My kids have been using it to share games, tips and tricks for their school studies, their favorite TV shows, and music that they are into at the time. You know, stuff like Rihanna, Jay-Z, Katy Perry, and Ka$ha. I would much rather them spend more time on their school studies though, but they find tons of things that keep them interested which is nice over the weekends or when they really need to find something online and already have it shared and saved.

As for me, I haven’t been sharing too much. I like to keep my interest private, but I like to find and save anything related to keeping up my lawn and landscaping, as well as golf, web development, and grilling food on the BBQ. I found this awesome recipe for BBQ sauce the other day and how to prepare the meat for a festive Hawaiian BBQ and I am going to make sure I try it out next weekend. I also have found a ton of golf tips and trick as well as the perfect mix of grass seed and how to trim up my bushes the right way later in the fall as well. These tips alone will save me a couple hundred dollars that I do not have to pay someone else to teach me. As a matter of fact, I could probably teach other people with what I have found!