When you have a dream of running your own business, you might be willing to make some big financial moves to get things off the ground. For many entrepreneurs, there is no lack of enthusiasm, expertise or dedication, but gathering funds for your business can often be a challenge.
If you are dealing with past credit issues or are reluctant to bring in too many investors, especially family and friends, you may feel the strain of coming up with the business capital that you need. The Wall Street Journal estimates that the initial start up costs for a small business can easily reach $30,000 or more. That’s a lot of capital to come up with for most people.
If you are determined to get your venture off the ground and are interested in funding the start-up on your own, there are plenty of ways to start liquidating your own assets to help with financing. From selling your house for cash with a professional investor like TheAdvisory to putting your personal items of worth up for auction, you may be surprised at the amount of funds that you can come up with.
Take a look at some easy and straightforward ways for you to start selling your assets to help finance your business dreams.
Sell Your Home For Cash
The largest asset that you likely have is your home. If you are willing to downsize and invest less money in your living situation, you can consider selling your home to a real estate investor for cash. You won’t have to endure the traditional selling process that can take months and cost you a fortune in fees and taxes.
Do your research and find a reputable company that is willing to work fairly with you, and get money in your pocket in often less than a week. Putting your home on the market with a real estate firm can take time that you may not want to waste. With a home for cash sale you can sell your home “as-is” without having to invest additional funds taking care of repairs or upgrades to impress potential buyers.
Auction
You may not even realize the lump sum value of the items that you own, but there can be a considerable amount of capital wrapped up in your personal belongings that can help you raise the cash you need. Talk to an auction company about coming in for a full appraisal and start making a list of the items that you want to sell. Everything from artwork and furniture, to tools and sporting equipment can easily be put on the block for sale.
Cash In Your Retirement Savings & Investments
The younger you are, the less risk there is to cashing in your retirement savings. Talk to your investment advisor about your options for getting access to your savings with the least amount of penalty fees. Cashing in your 401K, stock market investments or IRAs can help you get the capital that you might need without having to rely on outside borrowers or investors. Once your business takes off, you can start to invest in your retirement again.