Mook's Rentals | Application Preview
Mook's Rentals is applying for government grants for several key purposes. The requested funds will primarily help consolidate approximately $31,381 in debt incurred on credit cards for business-related repairs and equipment. Additionally, the business faced significant legal expenses—around $17,000—due to the probate process after the owner's mother's passing in January 2020, which was complicated by delays from a stepfather. Another allocation of around $11,619 is planned for adding metal roofs to three properties.
The business aims to grow over the next five years by paying off the mortgage, allowing the owner to access equity to purchase additional investment properties. The overarching goal is to assist low-income families in finding housing, with the hope of partnering with the government to support more families in need.
Mook's Rentals emphasizes a strong payment history, with no late payments reported, as a reason for funding approval. The owner has experience working with private investors, continuing business collaboration with a former partner after her mother's death.
Regarding competition, the owner views the rental market as expansive, identifying apartments and other rental properties as potential competitors. Mook's Rentals differentiates itself as a smaller business focused on helping families, with a commitment to working with tenants while ensuring the sustainability of the business.
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General Information
Business Registration Number: 2512775957
Location: Mobile, AL, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: Less than $100k
Annual Gross Expense: Less than $100k
Open to Loans: YES
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Funding Usage
Founds will be used for multiple purposes, for the first reason will be to Consolidate debt that I put on my Credit cards for my business as far as repairs and equipment. (Around $31,381) The business was originally my mother and she passed in January 2020 during the pandemic, and after her death had to get lawyers and get the properties from probate and get them into my name. Step Dad drag it out longer then it need to be, so i ended up with a High lawyer bill. (Around $17,000) The third purpose for the funding would be for adding on metal roofs on the 3 properties. (Around $11,619)
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Business Plan
I plan on growing my business in 5 years by continuing paying off the mortgage to the point to where i can pull out a little equity, so I can buy another investment property and continue the process till I have a nice size portfolio. Also my goal is to just help out as many families as i can that have low incomes, and hopefully one day be able to work with the government to be able to put more families that need a roof over there head. The main and only reason that i think a investor should invest in me , is because i never had any late payment that on my report. I have experience in dealing with private investors, after my mom passed I continue work with her business partner/Lender (Wayt Harris).
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Self Identified Competition
I Really don't know who i would consider a competitor, its enough properties to go around. If i had to choose competitors i guess i would say, apartments, other rental houses, and property management companies. I like to think we are different since we are smaller business and we want to make sure families have a home and willing to work with them as long as it not hurting the business, so we can continue to help more and more and time goes on.
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Contact Applicant
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