Winston, I really appreciate the arms length thoughts that you offer and obvious experience in my field I want to continue to correspond with you. I think you miss understood me. I am making money now finally and am proud as hell of my determination and that won`t end. My facility is quite amazing. When I am done with the patio, the facade of the restaurant, I will officially have claim to a fine dining restaurant that seats 60 people, a lounge that serves a dual purpose with weddings that seats 30 people, a beautiful banquet hall that seats 175 people, an outdoor facility that I developed (everyone thought I was nuts) and free of rent because the septic bed makes it impossible for the landlord to build, and a 110 seat patio. You seem to want to let me know about failures that make you sell. I am not going to let this venture fail because there is no real reason to let it fail (you need to taste my food). That is why I am looking for growth financing. I am also willing to tell you in this open forum that my monthly rent for everything that I described is $7000 /month. Peanuts.
Here is something else I have been working on (like I said this situation has many more complexities but i want your thoughts because of your experience). The entire plaza that I am in is under power of sale (you can see it through agents) and I am the reason it has become valueable. The plaza is selling for about $1.2 million and worth about 1.6 million. I have been trying to find local investores to help buy my portion of the building which the landlord has agreed to do. I have also set up my wife Yvonne in the same plaza (www.photographybyyvonne.com
) so we lease 65% of the plaza. I am dealing with people who want to buy the building so the facade of the house has been made clear to them. I hold all the cards.
By the way, I am doing all this while I do menus, cook, and everything else.
To answer your question, I am looking for an aggressive $60,000 for the business growth, AND OR $200,000 down payment and $400,000 mortgage to let my rent ($5000/month) go into equity. No different than buying your first home!...I did that too!
Thank you again, still very interested in your thoughts.
ChefLong3/12/2008 12:35 AM