most banks won't lend to startups or shells with no income. even if they were to lend, they'd need a personal guarantee. you can file bk once every 7 years. for a young kid, i wouldn't recommend filing bankruptcy. i once had a family who asked that their 20 year old kid sign the lease in behalf of her family to rent my 3-bedroom house. the reason is that both parents and their son had filed bankruptcy. they'd borrow off their credit cards, buy lots of stuff and make cash withdrawals then filed bankruptcy.

 

Funny story, In the 4th grade (Around 2007) my teacher set up a mock stock market game and he taught us the basics of the stock market, and ironically I invested into AAPL for around I think $60 or $70 a stock, and I actually told my parents to invest into AAPL for me, but obviously they didn't because who listens to a 10 year old for financial advice? Anywho, in around 2012 I was curious of the stock market again and saw AAPL at around $700 a stock, and then I showed my parents and their faces turned in shock on how they missed an opportunity, also I don't really understand what the AAPL split means really. And also, I would not get a GTC because it is more expensive than a GT and I think almost all auto manufactures add weight to convertibles which might slow it down a bit.

 

If I had $1 for every finance guy who said to get a loan off the B and use those funds.... Am sure you know the system plans to raise FICO scores due to 'new calculations'. Sounds to me like the banks want people in as much debt as possible, so let them have all they care to swallow (at their risk).



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NOTE: My 'advice'... am joking guys. Honest people would not follow what I'm saying, yet major investment banks do each and every day. Guess it all depends on one's ethics, which has very little to do with what is legal within the current banking and investment system. It is like opening up secondary offices in a country that has tax advantages and then....

 

I too create and sold a couple startups and now have a thriving consulting business. I purchased a CGT and use it for pleasure and 'business' as I meet many clients at their place of business. I didnt have the luxury of wealthy parents so I had to work my @ss off. All my businesses were lean and internet related and when you want something bad enough you will do what it takes to get it and I did. When I was 17 I drove a suzuki samurai that almost tipped over when you made a turn, I didnt get my CGT until I was 35. Good luck.

 

I got my first nice car... Guess? 1999. The year start-up #1 was acquired. It was a brand new MB E430 Sport. I thought I'd died & gone to heaven. I was 44. Retired in 2010 at 55. Living the dream since.

 

Oh then I guess I'm quite lucky then, because my first (and current) car is a 2011 G37 Coupe. And also, the problem I fear in starting a business at this time is that I feel like the market in many businesses are overpopulated, though I have had ideas of franchising a business that is in demand for a lot of people in my area but their is no supply. Anywho, I doubt I could afford to start a business or get a loan due to my age and 0 experience, hopefully when I graduate college and earn some start up money I could start a side business.

 

My 2 start ups were both disruptive optical networking companies. If you are not disruptive in this world forget about it. Oh and make sure you hire the best talent you can find and people that are smarter then you.

 

Started my international freight forwarding biz in 1981 but didn't get my first exotic until 1995: A new Ferrari F355 Spyder. I turned 49 that year.

Didn't get another "fancy" car until 2005: Maserati Quattroporte.

Bought my first Bentley Continental GTC in 2008 and am on my third one now at age 67.

 

See, you can be rich and like Donald Trump. He just filed for bankruptcy... for the 4th time.


www.zerohedge.com/news/2014-09-08/trump-entertainment-files-bankruptcy-fourth-time-even-donald-embarrassed-be-associat