Another Day, Another Dollar

Today is one of those days where I can't help but be a little bit frustrated. My volume this past month was far lower than anticipated, my business plan is still going through its umpteenth revision, I have yet to solidify any kind of debt financing. So, I'm having to self-fund most of the deals that I'm doing, which is causing tension at home, as this is cutting into our living expenses.

I am also investigating a purchasing a franchise for a popcorn vendor at a local mall.

These opportunities, all sound terrific but they all have their downfalls. None of these come with any kind of medical insurance and I have two very clumsy children.

To my fellow entrepreneurs, heady you handle your medical insurance? Are there plans out there that are affordable but still provide decent coverage?

If you know of any affordable health plans, I would appreciate the information.

It is amazing the things that I've seen this past week while working deals with vendors. As much as dealerships complained that customers think they're trade-ins are worth far more than they are, vendors do the same thing with their inventory. I was able to approve a transaction for a class 8 truck the customer with a 580 FICO at 90% LTV. I thought that this was a great approval, considering the customer's credit.

Apparently I was mistaken, the vendor was not only upset that I required as much down payment as I requested but, they were also upset at the high rate.

Come on guys, look at things from a finance company point of view. It's all about risk and reward.

If we are taking credit risk, why should we take any collateral risk at the same time and why shouldn't the rate be risk-adjusted?

It also seems that people with the worst credit seem to be the most demanding.

I don't quite understand this, but it must be under the “Character” section in the five C's of credit. Many of these people tend to think that the world owes them something. I never quite understood this as I worked for everything that I have, and quite often worked for nothing.  My word of advice to these people is that “The world doesn't owe you any favors, you owe the world for the privilege of living on this great earth. “ The more people start being grateful for what they have, the more they will be realistic about what they have, and the happier they will be.