RentalStarter - A Midwest Real Estate Investment Company

[ZyclonRacerX]

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

[1713497286]

1713497286

[1713497286]

1713497286

[1713497286]

1713497286

[1713497286]

1713497286

[1713497286]

1713497286

[ZyclonRacerX]

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

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!

[mercenar1e]

Success in Ohio out of all places  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.

[shmoula]

Continue with trolling, I'm buying

[ZyclonRacerX]

Continue with trolling, I'm buying

Hmm... Clearly not buying *enough*

Last Price:                ฿0.00300000 <==
Bid:                 9/9    ฿0.00206000   
Ask:                2/2    ฿0.00379999       

             

[Branny]

Success in Ohio out of all places  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]

... 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*
3.
4. PROFIT!

I got ideas, bro. Need a partner?

[mercenar1e]

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.

[Branny]

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.

[ZyclonRacerX]

<>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"?
Unconscionable!

<>

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.

[ZyclonRacerX]

[...] 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.

Anyone care to post this "pre-audit P&L sheet"? Must've been pretty impressive, the whole bid side's < 1BTC

[BathSaltsDealer]

What's up with this asset? No divs for years, order book < 1BTC, price in the gutter, the real estate magnate himself selling (used?) USB cables on this forum?

This seemed so promising at the start, I thought real estate was a pretty solid thing in US? Oh well, another dream shattered. Back to my bath salts business I guess

[tempestb]

There is a Slack for Rent.  I sent Brandon an email to get access to it but never heard back from him.

[Branny]

There is a Slack for Rent.  I sent Brandon an email to get access to it but never heard back from him.

Everyone that has stock should be able to access it via rentalstarter.slack.com, however from what I can tell a great deal of emails end up in a spam folder, although you should be able to log into it using the email address you have on file and just going through password recovery.

[Branny]

What's up with this asset? No divs for years, order book < 1BTC, price in the gutter, the real estate magnate himself selling (used?) USB cables on this forum?

This seemed so promising at the start, I thought real estate was a pretty solid thing in US? Oh well, another dream shattered. Back to my bath salts business I guess

We're still around, if you're a shareholder you can log into the slack and see what's going on.

We're at around $1.25 million in total assets managed between everything now. We've suspended dividends for a while due to working with local lending institutions. They want to see us have a extremely positive 2-3 year cashflow on our tax return in order to get a good series of loans. We have next to nothing as far as outstanding loans on our properties go (in the grand scheme of things).

When we started off, i made the assumptions that banks would fight for loan-free properties, I was very much wrong, their requirements especially in a post-mortgage collapse environment are quite tough. Some local banks are limiting new rental loans to 1 loan per investor per year regardless of credit, income , or LTV rates. So, with the handful of banks I've encountered that offer beyond this, I've been trying to meet their requirements.

[BathSaltsDealer]

We've suspended dividends for a while due to working with local lending institutions. They want to see us have a extremely positive 2-3 year cashflow on our tax return in order to get a good series of loans.

Right. So they said "listen, why don't you just stop paying the people who funded your business for a couple of years, and once we're 100% certain that you're a total deadbeat & your word is worthless, we'll lend you money, so that you could not pay us for a few years, but maybe use the money we lent you to bootstrap another loan. We're doing this because we're fucking stupid and/or insane"?

That's, pretty much, how it played?
They want to be super sure that entering into a contractual relationship means dick to you, and you'll treat your new loan just as you have your old one, i.e. come up with a hilarious excuse to not pay & start selling the leftovers from your brother's equally successful business?

[Branny]

We've suspended dividends for a while due to working with local lending institutions. They want to see us have a extremely positive 2-3 year cashflow on our tax return in order to get a good series of loans.

Right. So they said "listen, why don't you just stop paying the people who funded your business for a couple of years, and once we're 100% certain that you're a total deadbeat & your word is worthless, we'll lend you money, so that you could not pay us for a few years, but maybe use the money we lent you to bootstrap another loan. We're doing this because we're fucking stupid and/or insane"?

That's, pretty much, how it played?
They want to be super sure that entering into a contractual relationship means dick to you, and you'll treat your new loan just as you have your old one, i.e. come up with a hilarious excuse to not pay & start selling the leftovers from your brother's equally successful business?

If you have a problem with how the company is managed, and you're a stockholder then contact the advisory board on slack.

[BathSaltsDealer]

^Lol @ "if you're a stockholder" Do I look like a bitch?

[dropt]

LOL So, tell us why trading RENT on Havelock is halted!

[ranlo]

Tagging the thread to keep up with updates, as a shareholder...