Higher Learning podcast XIII-Tuesday July 2nd @8:30 pm est

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88m3 said:
Ayo @VictorVonDoom what's good with the beanie, b? Isn't it like 100 degrees down there, b?
You hit a hipster faze late in life? I guess it beats the echo jacket? Refuse to believe you have a wife that let's you dress like a confused twenty year old.
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That pic was during the winter. I had just came from outside. Us melanated people can't deal with the cold as easily as you guys. We also tend to call them skullies, not beanies.
 
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88m3

88m3

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VictorVonDoom said:
That pic was during the winter. I had just came from outside. Us melanated people can't deal with the cold as easily as you guys. We also tend to call them skullies, not beanies.
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Whatever you say, b.

@Broke Wave would like a word with you.
 
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Slystallion

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Brown_Pride said:
what you should have done was gone in as a silent partner with your step pops. give him 30 for 10% ownership. There are many more people out there willing to do shyt like this, particularly in land scaping. Labor is cheap, equipment is cheap, work is abundant. You could just look for a truck of dudes working for another company and hit them up with a business proposition, fund the venture for a cut. I've done that a few times and have stake in a some "mom & pop" type set ups (barber shop, landscapign business, printing business) they pay decent enough returns and I DON'T DO SHYT :smile:

Yogurt? :smh:
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that was my first angle I wanted a percentage of ownership but he wasn't having anything but a straight loan. I just got tired of my mom and uncle bugging me about it making me look like the bad guy and I just gave in and said fine take it. It was a straight no interest loan no contract no schedule. He just recently paid it all back last month
 
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Slystallion said:
Back in 2010 I purchased my parents home and took capital out of the home to start a business. I've been living in this home since i was born and it has had equity built up since my father owned it going back decades when his parents owned it and he passed on when I was young.I had 80 grand and i was going to research what to do....what kills me is my friend told me to put it all in apple when it was 270 so you can imagine the pain i felt when i saw it climb almost into the 700's because i didn't do that and I should have

My step father wanted me to lend him 30 grand to buy out the landscaping business he worked for. I originally said no because 80 grand to start a business is already slim pickings, but ultimately i got tired of the guilt trip every day and the rest of my family telling me that I owed it to them and they obviously didn't sell me the home at market value.

So long story short I'm left with 50 grand and i see that frozen yogurt is an emerging market that is growing and sign up with Yo Fresh Yogurt and they have a 19500 franchise fee. Before i signed the contract i had them amend it to include a clause that if I couldn't get proper financing that i could have my franchise fee returned. They added it and I signed the contract. So now i'm left with about 25 grand and we are talking about at least 120grand to open. Even though my credit score was in the 700's i knew it would be difficult to get proper financing because i had no business experience. Ultimately nobody would give out any sba loan less than 250k and the best i could conjure up was about 23grand in business credit cards...the franchise owner even had a nice location and wanted me to sign the lease and I said...dude there isn't enough capital and there is no way i'm getting anywhere near it without another investor. So I say look i've given it a year and I don't think this is happening i'm ready to enforce the clause in the contract, he gives me some bullcrap about the contract only being good for a year and that i would have to sell the rights of the franchise plus give them an additional 10,000. Lawsuit was filed officially last month with a lawyer and they have tried to settle with 5000 and 7500 my lawyer said hell no. I wouldn't settle for anything less than 12g's at this point.

Looking back this was one of the stupidest things i've ever done in my life...the right thing to do was put the money in a safe etf or some stocks i was confident in and return to school full time and actually build up some skills to know how to run a business or just go into the corporate world for a few years and then try my hand at owning a business when i'm more seasoned.

This was a case of me being a dreamer without thinking it through but i'm not going to dwell on it just learn from it and move on and rebuild myself up again.
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Damn...tough break.

If you recall, I predicted you would do exactly that on sohh. I saw all your overconfident dollar and a dream aspirations and I said you would lose your money in some hare-brained get rich quick scheme. You should've listened to me.

You should be good with a finance degree though. My wife is double majoring in accounting and finance with a couple of semesters to go (she already has a poly sci degree) and she just got hired as an investment consultant for a Fortune 500 company before even finishing her degree.
 
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88m3 said:
If I can find a WiFi point or ill try using my cell and headphone

The conversations we have on these damn podcasts really need to be done in private haha
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:what: Why can't you just go to your house? :deadmanny:@doing a podcast from a wi-fi hotspot.
 
Slystallion

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VictorVonDoom said:
Damn...tough break.

If you recall, I predicted you would do exactly that on sohh. I saw all your overconfident dollar and a dream aspirations and I said you would lose your money in some hare-brained get rich quick scheme. You should've listened to me.

You should be good with a finance degree though. My wife is double majoring in accounting and finance with a couple of semesters to go (she already has a poly sci degree) and she just got hired as an investment consultant for a Fortune 500 company before even finishing her degree.
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yeah I actually remember that...well i'm definitely humbled and won't squander any opportunities like that anymore. I'm sure whatever advice you would have given me would have been a lot more sound then what I ended up doing.

I was way undercapitalized to go into that venture. Unless you have 200,000 of your own money don't risk it on a business especially a franchise. I could have actually paid like 1500 dollars and went to the yocream distributor themselves and learned how to open up my own shop without needing to be involved in a franchise.
 
88m3

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VictorVonDoom said:
You sleep somewhere right? Unless it's a park bench, why can't you just do the podcast from wherever you call your residence?
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I was at our apartment in the city a couple days ago.


I'm in Vermont hiking.


:leostare:
 
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