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Something different - an investment opportunity for those who know me.


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#1 frostfire

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Posted 27 September 2018 - 10:06 PM

This is not exactly board business, but I figure it was the best place for this. 

 

Most of you know I am a software developer. I have a "day job"  as lead developer for a very popular piece of SEO software. Over the last several years it has been dropping in popularity as the market shifted, as markets do, and my work has gone from 200 hours per month, to around 50 (lol). In my downtime I have been working on a side project that I have been working on now for the last 7 years off and on. The project has a lot of sordid history regarding one of my previous clients that many of you have heard me rant about on various bar crawls. 

 

The short version of that story is that this client owes me a whole lot of money, and years of promises have amounted to nothing. Nevertheless about 7 years ago I started working on the "next generation" of his business software, as his promises always included funding for that next version... and I had nothing better to do, so I worked on it. And it helped that he was/is a damn good salesman. He did not know I was working on it, and my intention at the time was to just pay for it as the money was available... which of course never happened. 

 

9 months ago now I had to shut him down completely for non-payment of his server fees, and despite the last 9 months of promises of a catchup payment, none has come. His employees are unpaid for over a year and no longer willing to work with him, and among all his other issues, he is well in to his 70s and shows no inclination to try to pick things back up. 

 

He lost the business on account of a serious gambling addiction. 100% of the money he made went to the track, until he had nothing left, and no employees left to make more. Martin and I spoke many times about me launching my version of the website, which is almost completely automated, and he even offered to fund the remaining development, which at the time would have been about $30,000. I said no, for the same reason as I did not do it the year before, or the year before that. The guy was still up and running, and I was not going to "Steal" his business from him, no matter how legal doing so would have been. 

 

Now however, things have changed. He is no longer in business, and despite his claim of ongoing efforts to get back up and running, nothing has been done in the last 9 months to do that, and I have decided to move forward with launching my own software. To that end, I have spent the last 6 months working 70+ hour weeks, some on my day job, but most on this project. I now have almost everything done, except the parts that I just cannot do myself. I am not a graphical designer - I am not good at making highly reactive user interfaces that do so well in selling products. What I can do, I have done - and now I need to hire out a few experts to patch the holes. I could fund it myself, which would take a year or so at my current hours... but the amount I need to outsource these small portions of the site is so small, and the profit potential of the website once launched is so high, that I have decided to solicit investments to complete it quickly so that I can launch it before the end of the year so as to catch the market as it peaks. 

 

To that end, I have created a simple (but highly functional lol) website to solicit and track investments from individual people. Rather than attempt to find a single person to fund this project, I am going to try "crowd funding" - but with a monetary return guaranteed by me. I wrote this website to relay the entire story and history of the applications, the owner of the original and my relationship and interactions with him, just for clarity. On the various pages of the site I go in to great detail about the project, what it does and how it works, how its designed etc. It explains my offer for potential investors and will track the money(s) paid in to the program for complete transparency.

 

In short, I am trying to raise $11,000 USD, of which $2540 has already been pledged. A person can invest as little as he or she wants, and the return will be 150% of the amount invested. The timing of the return depends on how long it takes to raise the full amount needed, or the amount raised if the target of 11k is not reached, but at worst case I am guaranteeing the return within 18 months. Furthermore, I am personally guaranteeing the return, even if the business fails after the site is complete. I am supremely confident that it will not fail however, and I anticipate all investments paid back by the end of Q1 2019. For obvious reasons I cannot guarantee that date, which is why I put 18 months in the guarantee (That is how long it would take me to repay using my salary 555). 

 

To be clear - this is me offering this deal. Not some 3rd party. I am offering it to anyone, but am partial to people who know me, which is why I am posting it here first. In a week if the target is not reached, I will post it on Facebook where I am confident it will reach its target fairly quickly, as I am known to be trustworthy and, if I do say so myself, an awesome developer :) - I would rather not post it on facebook however, as the moment I do so ill get hounded by the old owner and his employees, and I would rather that not happen until after I launch. It is very probable that I will end up hiring his old business manager, with whom I have been in constant contact over the last 15 years, and while not very computer literate, she is an expert in the business and how to handle the customers. She is more than willing to come work for me, though I have not yet offered her the job :)

 

I already have over 2500 hours invested in this... and those of you who know me know I would not put that effort in unless it was a sure thing. And I am sure that it is. Just need to get it kicked up a notch. 

 

For the full story... or if you want to partake, visit the website I set up: http://invest.nwrh.org

 

Warning: The bio / about and various other pages that deal in the history of the project are quite long. Sorry about that :)


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#2 typhoon42

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Posted 28 September 2018 - 02:34 AM

You dont have 11k?

Run Forrest Run.

While you might be a fun guy to have a drink with there are so many red flags in your proposal.

Personally, I wouldnt get involved.
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#3 short

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Posted 28 September 2018 - 03:03 AM

OMG, his account has been hacked.   Was it a Nigerian or was it Martin coming back to haunt him.

 

 

 

 

 

 

 

(respect to Martin)


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#4 Siam Sam

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Posted 28 September 2018 - 06:13 AM

No disrespect but if I was going to make an investment in something it wouldn't be with a stranger on a punter forum. Good luck though. 


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#5 tallguy

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Posted 28 September 2018 - 06:45 AM

No disrespect but if I was going to make an investment in something it wouldn't be with a stranger on a punter forum. Good luck though. 

To be fair to Frosty the title does indicate that he is seeking investment from people who know him, and a lot of members on the board have met him personally. Some will know him better than others.
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#6 Siam Sam

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Posted 28 September 2018 - 06:53 AM

To be fair to Frosty the title does indicate that he is seeking investment from people who know him, and a lot of members on the board have met him personally. Some will know him better than others.


That's a good point. Perhaps if I'd have taken the time to read that I wouldn't have made a fool out of myself.
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#7 frostfire

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Posted 28 September 2018 - 09:40 AM

555 yes, not the best forum in the world for this... but it was intended for those who know me well, of which there are many here over the years. 

 

This is something I want to do, and I suspect it will come together... but ya, this forum is not the best place. In my defense, it was 5am and I was on benadryl 555. 

 

Still tho... the offer is open to those that know me. 


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#8 frostfire

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Posted 28 September 2018 - 10:16 AM

You dont have 11k?

 

Guess I should have been more clear. 

 

The launch for this will cost quite a bit more than 11k. 11k is what I am short to launch in 2.5 months time. If I do not get the funding I need to launch on Jan 1, I will simply fund it myself and launch around June. That said, I will miss a whole year of the market, since the market peaks in June. Not to say it won't make money in other months, but the amount I am likely to lose between Jan and June is more than paying a good return on 11k, so it was a no brainer for me to seek funding to launch sooner. 

 

And ya, I am not a professional writer or business plan developer - so I am sure there are lots of little mistakes in my writing... but there are no such mistakes in my code. Well, not many of them lol. :)

 

So ya, no hard feelings if you don't want to partake. I totally get it. Still glad to share some drinks with ya :)


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#9 Siam Sam

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Posted 28 September 2018 - 10:30 AM

This is something I want to do, and I suspect it will come together... but ya, this forum is not the best place. In my defense, it was 5am and I was on benadryl 555. 


That did literally make me LOL
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#10 frostfire

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Posted 28 September 2018 - 10:33 AM

That did literally make me LOL

 

Funny, it made me cringe when I woke up. 

 

But... of all the things I've done late at night in Pattaya... this one isn't even in the top 10 cringeworthy 555 :D


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#11 teelack

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Posted 28 September 2018 - 11:28 AM

 
Funny, it made me cringe when I woke up. 
 
But... of all the things I've done late at night in Pattaya... this one isn't even in the top 10 cringeworthy 555 :D

Steve. It is very easy. If a person has some money looking for a home and wants a good return and knows you, invest. If not then no need to make negative comments or doubt your ability or integrity. Best wishes.

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#12 Regyai

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Posted 28 September 2018 - 01:02 PM

11K !

 

Why dont you stuff it on an interest free CC

 

& pay no one a %age


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#13 frostfire

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Posted 28 September 2018 - 01:09 PM

11K !

 

Why dont you stuff it on an interest free CC

 

& pay no one a %age

 

 

Well. 12 years ago when I moved here, I quite literally cut up my credit cards. The idea was to live "debt free". The result however was a major drop in my credit score since moving here. I don't remember what it was exactly - I was never the type to watch it like a hawk, but it was good enough to get unsecured loans for whatever I wanted (and a 50k line of credit at Dell). Now however Transunion says that I "have no credit file" as there have been no reports good or bad for over 10 years lol. 

 

So ya, in short, my failure to secure a loan for it prompted this whole idea in the first place 555. 

 

To be fair tho, I tried from here. Not in person. I'll be returning to the USA for my yearly trip in a few weeks and I think I will visit my old bank and see what can be done. One of the curses to living as an expat. 


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#14 jacko

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Posted 28 September 2018 - 09:19 PM

 

 

Well. 12 years ago when I moved here, I quite literally cut up my credit cards. The idea was to live "debt free". The result however was a major drop in my credit score since moving here. I don't remember what it was exactly - I was never the type to watch it like a hawk, but it was good enough to get unsecured loans for whatever I wanted (and a 50k line of credit at Dell). Now however Transunion says that I "have no credit file" as there have been no reports good or bad for over 10 years lol. 

 

So ya, in short, my failure to secure a loan for it prompted this whole idea in the first place 555. 

 

To be fair tho, I tried from here. Not in person. I'll be returning to the USA for my yearly trip in a few weeks and I think I will visit my old bank and see what can be done. One of the curses to living as an expat. 

Don't get me started on credit scores, they seem to be a way of life now in the UK. My UK credit card was rejected at the airport when trying to rent a car from one of the main renters in the UK, it failed an Experian check. Cheeky buggers, have not needed credit for decades and don't really want it, or only until the end of the month when I will pay off cards.

Don't you have a work permit in Thailand which should give you access to Thai CC?


Edited by jacko, 28 September 2018 - 09:20 PM.

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#15 frostfire

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Posted 28 September 2018 - 09:21 PM

Don't get me started on credit scores, they seem to be a way of life now in the UK. My UK credit card was rejected at the airport when trying to rent a car from one of the main renters in the UK, it failed an Experian check. Cheeky buggers, have not needed credit for decades and don't really want it, or only until the end of the month when I will pay off cards.

Don't you have a work permit in Thailand which should give you access to Thai CC?

 

I do. I've never tried to be honest.. and I still really don't want a credit card. I had no idea a work permit allowed me that here. Might be worth a try... so long as they don't contact trans union lol. 


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#16 jacko

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Posted 28 September 2018 - 10:06 PM

 

I do. I've never tried to be honest.. and I still really don't want a credit card. I had no idea a work permit allowed me that here. Might be worth a try... so long as they don't contact trans union lol. 

Well I think it is Kasikorn who require the WP and do give some credit, my cards are from Bangkok Bank and require a fixed deposit covering the 'credit' limit. (Obviously not really a credit card). Then there is the Thai 'loan'... put your bike down as security and 10%  a month interest!  :yikes:


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#17 frostfire

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Posted 28 September 2018 - 10:13 PM

Well I think it is Kasikorn who require the WP and do give some credit, my cards are from Bangkok Bank and require a fixed deposit covering the 'credit' limit. (Obviously not really a credit card). Then there is the Thai 'loan'... put your bike down as security and 10%  a month interest!  :yikes:

 

Ya That's not gonna happen lol. 

 

So far I've turned down 2: one guy wanted to give me 150000 baht for $5000 credit on the investment... which is a loss for one, and for another it would be a nightmare to transfer that much back to my paypal account. Because my paypal is a business account and in my business name, I can't link it to my Bangkok Bank account... I guess they do a name verification or something. Pain in the ass. So I have to use my paypal business debit cards to pull money when I need it. They do give a good rate tho, and since I have a premier business account in excellent standing they raised my limit to 10,000 a day on purchases and 1000 per day on ATM (up from 3000 and 400), which makes them pretty nice. And I have 2 of them (for the same account), which is also nice. Enough so that I never bothered trying to fix my paypal to bank link. So ya, getting baht out of Thailand is a pain. No thanks lol. The other was a offer to take up the whole balance, but for a 20% stake in the company. As much as I want to launch before Q1 2019, its just not worth that. I have too much invested already, and do not want any partners - at least for that much of it. Got a few people interested so far tho, so I am sure ill fund it. 


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#18 jacko

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Posted 28 September 2018 - 10:32 PM

Sounds like an episode of 'The Dragon's Den'.....

dragons-den.jpg

 

 

 

 

 

 

 

 


Edited by jacko, 28 September 2018 - 10:36 PM.

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#19 frostfire

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Posted 28 September 2018 - 10:35 PM

Never heard of that. Had to google it. Any good?


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#20 jacko

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Posted 28 September 2018 - 10:38 PM

Never heard of that. Had to google it. Any good?

Chewing gum for the eyeballs... some of the comments from the 'dragons' are piercing but you get a sense of how greedy and cut-throat business is. 

More amusing is some of the crappy products some seek investment for!


Edited by jacko, 28 September 2018 - 10:39 PM.

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#21 frostfire

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Posted 28 September 2018 - 10:42 PM

Ya, I've always known that. But I don't need the cash bad enough to give up what I've worked so hard for. I got no problem paying a nice high interest, but aside from that I'll just do it myself and lose half a year. No harm no foul. Tho with some of the messages I've got so far, I still think it will fund itself. We will see. :)


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#22 jacko

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Posted 28 September 2018 - 10:55 PM

Good luck anyhow,


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#23 frostfire

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Posted 28 September 2018 - 10:57 PM

Cheers. Will tell ya about it next crawl :D


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#24 syd_tybil

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Posted 29 September 2018 - 08:58 AM

Sounds like an episode of 'The Dragon's Den'.....
attachicon.gifdragons-den.jpg
 
 
 
 
 
 
 
 

It's "Shark Tank" on U.S. television.


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#25 frostfire

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Posted 29 September 2018 - 10:52 AM

Ya, figured that out. Never heard of either. Looks ok tho. Not enough to download and watch tho 555. 


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