Tim Licatino

Montgomery, TX (USA)
Role(s):
Founder/Owner/Principal

Pine Lake Ranch LLC

Find More Startups Startup
Location: Montgomery
Industry: Other
Year Founded: 2012
Number Employees: 1-10 people
Business Stage: Growth (not profitable)
Entity Type: Limited Liability Company
Description: I'm converting my 25 acre farm into a corporate event and wedding venue,I have had several people wanting to book weddings,I'm seeking funding for improvments to renovate barn into a reception hall and other improvements before our open house in febuaray 2013 we have brides that have put 100% up to book dates,1st wedding late march 2013,we have several that will book as soon as they see we are ready for business,local competitors are booked through 2013 and part of 2014,my farm is paridise,located near booming Lake Conroe Texas,near Houston's George Bush international airport Seeking a couple of investment options: Option 1, aquire 250k funding paying 12% on 30yr note with 7 year baloon payout Plus 10% of venue business profits and sell out equity,with business as colaterial Option 2. refinance 25 acre property for 875k paying 7% with a 7 year baloon payout plus 10% of venue business and sell out equity,this will give us the 250k in equity needed to finish venue,your position will have 416k in intrest over 7 yrs,plus the 10% of the business and sell out, all with little risk holding 100% of the realestate (valued between 850k and 900k) and the venue business with a min of 22k monthly income with Saturday only rentals and up to 100k plus monthly with in-house vendors One saturday rental per month will cover payment,plus I have been making payments on my own for over 11 years through my other business income,the point is risk is low that the deal can go south and if it did,it should be to your advantage with the value of the realestate and the business income My goal is to have funding by dec 2012 on this deal,to have venue ready by feb 2013,we forcast 80% booked prime dates by augusts 2013,forcast based on local competition and high Houston area market demand