MRP Solutions LTD | Application Preview
MRP Solutions LTD is seeking government grants to alleviate financial burdens and to reinvest in rental properties without incurring new debts. The business plan emphasizes the importance of personal credit scores in securing financing, as MRP Solutions aims to buy rental properties in a desirable area that require minimal renovations. By acquiring five such properties, the business intends to boost its credit score and revenue, paving the way for the purchase of houses and apartment buildings.
The funding will help the owner manage expenses effectively, leveraging a strong work ethic developed through previous management roles in the automotive and insurance industries. By strategically targeting clients in a competitive environment, the business plans to maintain a competitive edge through creativity and hard work.
To minimize financial risks, MRP Solutions will focus on purchasing properties without traditional mortgages, opting instead for foreclosures or properties with tax issues that can be renovated affordably. The owner advocates a risk-aware investment strategy, preparing for worst-case scenarios to ensure stability and success in their rental endeavors. Future ambitions include establishing a non-profit organization that will offer various community services, leveraging the experience gained from real estate investments.
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General Information
Business Registration Number: 270222632
Location: Warrensville, OH, United States
Length of Operation: 12
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: YES
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Funding Usage
To be able to get caught up on debts and expenses. plus i would have the funds to start purchasing rental property and homes again without having an expense,debt or bill to pay before I get revenue coming in.
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Business Plan
Well the first thing i understand is that your personal credit score has a big impact on how you can grow your business financially. Creditor always go by your personal credit score for business loans and my finances rather its personal or business is one and one. Next will be the purchase of my rental property in an area i currently have one now. The reason this is the best start is because these properties don't have basements and the roofs and other maintenance's are covered in a maintenance fee to the majority owner. These properties are not expensive at all to rehab/renovate because of this. Once I have 5 of these properties I can focus on houses and apartment buildings because i have assets now with tenants and my credit score would have increased along with my revenue stream. There are many different ways to generate revenue with houses such as group homes, many Government programs, college students, vacation renting etc. This is the start and once this is establish I have other ambitions such as my non-profit (SKRAM Institute est. 2009) that will have a daycare, muny sports, tutoring programs, workout gym and more. I understand first and foremost how expenses can crush a profit margin because i have been an Autocenter manager for Sears, NTB, Monro Muffler and now an insurance agent. I have performed most of these jobs simultaneously which means my work ethic is like no other. I will do whatever it takes to be a success business owner.
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Self Identified Competition
I do not necessarily have a top 3 but anyone who's self employed and is a contractor is a competitor to me. Essentially we all are competing for the same clients so the is why i franchised and sell insurance also. To be able to reach clients creatively they may never have access to along with making some money doing it. My work ethic and desire to succeed is like no other. this is even if have to reinvent myself, educate myself more whatever i need to do. i also understand money management and i never take on anything that will require expenses than labor. For example I would not purchase a home and have a mortgage, taxes, maintenance/repairs if I'm selling the home or renting it. Reason being my success is going to be based on how fast I sell the home or how fast i can get a tenant in there. None of the expenses are avoidable but one. So the most expensive and controllable expense is the mortgage... so I'm buying foreclose, a home with tax issues basic something paid for. That's how i have purchased my property in the past so my labor, violations & repairs are done by me which cuts down on subcontracting, if I don't have a tenant to move in or no offers on the table. I don't have to panic because I don't have a mortgage to pay just the taxes. To make a long story short... I am very analytical about any invest I make to make sure I don't start off in the hole. My thought process starts with worst case scenario and then go from there because if I have a plan for the worst then of course I can be a star when everything is going good.
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Contact Applicant
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