Forums: Discussions for entrepreneurs and small business.

And maybe you should call into SUN Radio for advice. I hear Rich was quite the amateur house flipper.

I figure the old saying is what you need to keep in mind though I hate the
word failed, so remember it takes guts to build something, even if you face a
million obstacles. No matter what rock is in front of you, there is always a
way to crash through it in one piece, jump over it or go around it. Figure
out which one you need to do and can do and then just do it. If you have to
sell a property or two then okay. Don`t see yourself as having failed, just see
it as another winding on the road that is life.

You are so right Katt......  You do what ya gotta do.  Success? Failure?  

I prefer to look at it this way....

Live and learn...... live and learn. 

Hey thanks again guys. It`s been a couple of weeks since I posted. I`ve been job hunting, and thinking, but to tell you the truth, I have also been enjoying spending time with my son. I`ve been working on the road for so long, and this is the first time in years I have spent day after day after day just hanging out with him. He is 9 years old, and I`ve been reading with him, playing video games, going to pee wee football practice, swimming. I`ve been cooking at home so my wife doesn`t have to. Family Bar-b-ques. Enjoying life a little. The clock is ticking though and I have to make a move soon. Either take my last few dollars and some sweat and try to finish, or focus more on trying to get a job and keep the bills paid until my partner calls me with the news that he is done which could be a while. My credit is going down the drain in the meantime because I haven`t paid several bills, choosing instead to just sit on the money while I figure out what to do. But hey it`s credit right, it goes up, it goes down, it can go back up right? I have also asked a few people in the construction biz for advice/money. No money but a little advice. I learned a few things. Nothing that will bail me out of this situation yet, but still some good info. Thanks for your support guys. Keep that advice and info coming. What do you think about the choice of paying the bills or using the money to get as much done on my house as possible? 

dude, invest the money to create money. don`t just pay the bills, because that doesn`t create money. creditors can wait. all they`ll do is add finance charges on to your total. use te money to make money. and stop hiding from your responsibilty. get out there and fight for it to be done. you`ll have more time to play with your son and family when you have cash flow coming in.

Stop paying most of the bills. The worst that can happen is they`ll try to sue you, then send it off to other collections people. But if you keep paying all those bills now, you`ll just pay out all your money, and still not be paid off.

Unless you can totally pay off some debts, stop paying until you have income again. But as Steve says, a better method is to take that money and put is someplace where you can make more money in the short term. Just remember that investing could also mean either putting the debt-payment into fixing your company, or in a job search.

but you better call and talk to those people that you owe money to. if you just ignore and blow them off, you`ll get a real bad credit rating. when you call them back and talk to them even if you tell them that you have no money to pay them, they will note that in your record and you`ll be better than if you ignore them.

Ok, sounds like a plan to me. I am sizing up where I am right now. My partner has made some progress and I have the money for the mortgage this month so I think I am going to nickle and dime the creditors with some $50 to $100 payments and some phone calls. In the meantime, try to wrap this thing up. It`s my biggest asset and really the only way I can get out of this situation. Plus, having the time to hang out with my son, along with the job market woes, helps me to realize the very reason I was so willing to take the risk in the first place. Thanks guys, I`ll keep you posted.