Help save Betz family business from pandemic
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My family and I have been trying for a long time to get into the self storage business. I am currently a home improvement contractor that has been experiencing less work because of COVID -19. My wife and I will eventually use this as our retirement since it was difficult to save money as a self employed contractor. My daughter Beth, has been working as a successful property manager. Unfortunately this job causes her to drive two hours in the morning rush hour traffic and then repeat another 2 hours in rush traffic, to return home after an extended long day, to her husband and children. She will come to work with me as the manager, of this self storage business and this will decrease her commute time, to about 20 minutes each direction (40 minutes round trip). This would make a big difference in her quality of life with her three kids and husband, who happens to be a veteran. My two sons John and George, that work for me in the home improvement business, would work with us as grounds keepers, and maintenance men, and anything else that needs done. This would stabilize their income and help them to build better credit.
Part of our goal with the self storage business is to promote other small businesses and the community by eventually providing a community space where outdoor events could be held and local businesses could sell their goods in a trade show.
Just before the COVID-19 pandemic started, we started down the path to a self storage build. We have done the due diligence, put money out, paid for a feasibility study, and put the down payment on the land. We also have a construction deal, and business plan. The feasibility study has predicted the location and build to be a success, the construction will be to start with four buildings with room to expand at a later date. The bank we’re working with is called, Live Oak Bank, out of North Carolina. They specialize in self storage loans. We have some money of our own from selling a house and previously had several small investors. Since the pandemic and the downturn in the economy, the small investors backed out. We have a deal with the bank and we have $100,000 of the down payment. We’re lacking $100,000 to make the $200,000 required of us, to move forward. We raised five kids, three of them will be working at the self storage. If we miss this window, it will put a hardship on the whole family. Please help, our goal is $100,000
We would also welcome short-term private investors.
We need the funds as soon as possible. We’re at the point where the bank makes a decision, they had originally told us a smaller amount would be needed, but now we’re told we need $200,000 for closing. With the requested funds raised, we will be able to move forward with these plans. If we cannot move forward we will be loosing thousands of dollars we’ve already invested.
Any donations will be a huge help in securing our family’s future. As the heads of the family we will be most grateful!
Part of our goal with the self storage business is to promote other small businesses and the community by eventually providing a community space where outdoor events could be held and local businesses could sell their goods in a trade show.
Just before the COVID-19 pandemic started, we started down the path to a self storage build. We have done the due diligence, put money out, paid for a feasibility study, and put the down payment on the land. We also have a construction deal, and business plan. The feasibility study has predicted the location and build to be a success, the construction will be to start with four buildings with room to expand at a later date. The bank we’re working with is called, Live Oak Bank, out of North Carolina. They specialize in self storage loans. We have some money of our own from selling a house and previously had several small investors. Since the pandemic and the downturn in the economy, the small investors backed out. We have a deal with the bank and we have $100,000 of the down payment. We’re lacking $100,000 to make the $200,000 required of us, to move forward. We raised five kids, three of them will be working at the self storage. If we miss this window, it will put a hardship on the whole family. Please help, our goal is $100,000
We would also welcome short-term private investors.
We need the funds as soon as possible. We’re at the point where the bank makes a decision, they had originally told us a smaller amount would be needed, but now we’re told we need $200,000 for closing. With the requested funds raised, we will be able to move forward with these plans. If we cannot move forward we will be loosing thousands of dollars we’ve already invested.
Any donations will be a huge help in securing our family’s future. As the heads of the family we will be most grateful!
Organizer
John Betz
Organizer
Silver Spring, MD