Started an internet company - self funded for several years and then brought in investors to help expand and open a second server/data center. Unfortunately the dotcom bust panicked the investors and they backed out of further funding leaving me with the initial debt of the startup as well as the shutdown costs. So in 2002 closed the company (Sound Data, Inc.) and the assets and other funds ended up being distributed and so some of the credit cards and other debt at 29% interest used to fund the company are still around (not helping my debt ratio as you can see). Also ended up being sue by the landlord for the outstanding lease (live and learn - some and lessons are harder and more costly than others). After that did contract work for project management and website work - but the tech world was not my passion anymore (companies are looking for youngsters - not someone that starting working on CPM). Eventually I teamed up with another ex-tech person who had started in the real estate business - but was running into growth issues in not being able to handle more property listings and closings - she needed and assistant. So I became her unlicensed assistant - and now have my license and working to expand her business by handling all the listings, sales documents, customer handholding, and even her website. This now allows her to take on another agent for sales and branchout further in the future beyond residential work.
While being in the tech world was exciting - the move to real estate and the opportunity is my new excitement. As a contractor I get a monthly retainer as well as percentage bonuses for all sales/closings on top of the retainer. With the additional of another agent and the expansion of her real estate group - look forward to growing this business as I did with the internet company. Would like to get rid of the old debt and get on a better financial footing. |
