Section three
What happens now?
What is going to happen?
This section is going to layout every thing that has to be done to get this business started. First, the company must be created.
Statement of Purpose, first address to company.
October 21st, 2006, The DWC housing company was started. This is a historic day.
From this day forward, I, David Whittmore Coon shall act as the Chief Executive Officer, CEO, of the DWC housing company.
As, CEO, I pledge to hold myself accountable for the success of this company, both personal and company gains. Should this company achieve these goals, as laid out in section two…
I will be the CEO and owner of a $10 million Company in 10 years.
If I work 40 hours a week for the next 10 years
40hr x 4weeks = 160 hours a month
160 hrs x 12 months = 1,920 hours a year x 10 years = 19,200 hours for 10 years of work.
$10,000,000/19,200 hrs = $520/hr as CEO of company.
Position as CEO: 10 years, full time, 40 hour/week commitment required. Plus bonuses include free housing, company cars, and employer of many satisfied employees. Company credit cards, huge profits and complete ownership. And a life where I get to do what I want with it.
I, David Whittmore Coon, take this position as CEO of the DWC Housing Company. I agree to live by all terms within this document. I pledge that everything there in this document is true.
I will follow the plans; it is my duty to lead this company to success.
David Whittmore Coon, CEO. 10/24/06
From here on out, I, David W Coon, acting as CEO of DWC Company, am going to come up with what we do next.
Take the first step into the world of ownership with the cheap housing model. Follow real estate plans from section two.
This really should not take more then 3 months to get this done. I will buy at least one house by then
This is what I have to do to make that happen.
1) Find property I want to buy. Research details of this history and past residents. Decide if this house is right for the company. This is a good decision or a bad one. These kinds of things are up to me now.
2) Get mortgage to buy house. Make appointment with Primerica to discuss details and options.
3) Close on my first house. Mortgage goes threw. I become the owner of my first business asset.
Due date January 10th, 2007
As soon as I become owner, I need to go right to work. First two-bedroom apartment must be ready by first mortgage payment. This will give me less then a month to get these rooms in shape to start making money. I am also going to furnish the first apartments, because that will help make money faster. Therefore, I also have to schedule in time for that.
Get furnished and rented out ASAP. Need to start making money right away.
Before the end for May, I should have four apartments rented out. This should make enough money in rent profit to get second house. Some of second house will be employee housing. I must have this done by summer. I know a lot or people that are going to be looking for apartments this summer. I need to be there ready.
I need to have:
Four beds, 2 couches, 2 dressers, 2 coffee tables, 2 book shelves, 2 computer desks and 2 dinning booths.
It is my job to make this stuff for the first house.
Renovations will be needed.
I may want my first cheap housing building to already be in good condition. So all I have to do at first is furnish. Get second house in poor condition, because then I have everything paid for by first house rent money.
Plan and time line and budget (space, time, money)
Everything will be fully detailed in second edition.
Goal is to get the first house to support me and give me a place to live for free, with a little bit of extra profit.
Example. 8 bedroom house. Four 2 bedroom apartments.
$850 each, fully furnished
$850 x 2 = $1,700 $850 x 4 = $3,400
Make sure mortgage is less then $1,700 a month. Then I get a free house and two free rooms. All I have to do is be the owner and furnish the apartments. I will try to rent out all four because then I end up with and extra $1,700 a month in rent profit. This money will be used to get second house.
Every thing along the way I can figure out as they come to me. The hardest part of being a business owner is that you have to always be ready for the unexpected. I am going to try to be conservative with my early investments, and only spend time and money on things that are most likely to succeed.
The reason that I am setting my focus on real estate is because rent is something at everyone has to pay. So there is a huge Market out there that I want a piece of.
The cheap housing is not to make lots of money from in rent, but to make money on in equity. And to produce enough money to invest into hpst housing. This is what I really want to do. This business could turn out to be the biggest Hotel in the world. And already my ideas are better then most commercial hotels. They will not be any competition, because they charge too much, and take too much profit. I am going to charge less and give a lot of profit to employees. My employees alone are going to be the reasons my hotels are going to be better then the commercial competitors. And they are not really hotels, they are apartments for rent, that are a lot like hotels. (some motels charge $250 a week, I want this customer base)
I am serious about this and I am going to start now. Nothing else now in my life is as important as doing this work. The next months are going to the hardest I have ever had to work in my life.
I need to do this one-step at a time.
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