Rental Remodeling Business Plan

Victorian Renovations

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Company Summary

Victorian Renovations is a vintage house renovator based in Portland, OR. We purchase dilapidated buildings at low cost and renovate them in vintage Victorian style, they are then rented to young families and couples. We are a privately-owned Oregon corporation. We are relatively small, but have a good understanding of the market, a background in this industry, and a great passion for our work.

2.1 Start-up Summary

The company was started when these two business colleagues realized the number of old dilapidated homes in Portland in need of repair and correspondingly the growth in popularity of older restored homes. 

They have recently located the house on Pearl and Fifth and are in the process of obtaining a loan.  Each partner will contribute investment which will be used to cover the down payment of 20%, the mortgage payments for the first six months while the house is being renovated, and the materials and labor to develop the building.  Much of the work will be done by Doug and Sarah, since they are both owners of older homes and have completed much of the renovation and repair to those homes themselves.

Other costs associated with start-up are the legal costs of incorporating the business and building insurance.

Start-up
Requirements
Start-up Expenses
Legal $500
Insurance $250
Total Start-up Expenses $750
Start-up Assets
Cash Required $74,500
Other Current Assets $750
Long-term Assets $144,000
Total Assets $219,250
Total Requirements $220,000
Start-up Funding
Start-up Expenses to Fund $750
Start-up Assets to Fund $219,250
Total Funding Required $220,000
Assets
Non-cash Assets from Start-up $144,750
Cash Requirements from Start-up $74,500
Additional Cash Raised $0
Cash Balance on Starting Date $74,500
Total Assets $219,250
Liabilities and Capital
Liabilities
Current Borrowing $0
Long-term Liabilities $160,000
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $160,000
Capital
Planned Investment
Sarah Renner $30,000
Doug Machen $30,000
Other $0
Additional Investment Requirement $0
Total Planned Investment $60,000
Loss at Start-up (Start-up Expenses) ($750)
Total Capital $59,250
Total Capital and Liabilities $219,250
Total Funding $220,000

2.2 Company Ownership

Victorian Renovations is a privately-held Oregon corporation.  It is jointly owned by friends and business partners, Sarah Renner and Doug Machen.

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Start-up
Requirements
Start-up Expenses
Legal $500
Insurance $250
Total Start-up Expenses $750
Start-up Assets
Cash Required $74,500
Other Current Assets $750
Long-term Assets $144,000
Total Assets $219,250
Total Requirements $220,000
Start-up Funding
Start-up Expenses to Fund $750
Start-up Assets to Fund $219,250
Total Funding Required $220,000
Assets
Non-cash Assets from Start-up $144,750
Cash Requirements from Start-up $74,500
Additional Cash Raised $0
Cash Balance on Starting Date $74,500
Total Assets $219,250
Liabilities and Capital
Liabilities
Current Borrowing $0
Long-term Liabilities $160,000
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $160,000
Capital
Planned Investment
Sarah Renner $30,000
Doug Machen $30,000
Other $0
Additional Investment Requirement $0
Total Planned Investment $60,000
Loss at Start-up (Start-up Expenses) ($750)
Total Capital $59,250
Total Capital and Liabilities $219,250
Total Funding $220,000