Tons-O-Fun

Posted by Jeff Ignacio on March 22, 2007 under Business, Technology | Be the First to Comment

Good lord it has been a while since I have blogged. I promise I will get back on track here!

Just Created My First Website

I have been busy recently trying to get a few companies launched. I even took some time to develop a site that isn’t so fantastic, but will get better. Right now it’s a pay-to-see service which has been generating a few sales (but nothing I can leave my dayjob for!). The site is www.suppliersdaily.com. I am actually in the works to reposition this site to a much better and higher use. I need programmers with major skills and an entrepreneurial appetite.

Project for 2007

Later this year my friend Charles and I are launching a website that’s far from your traditional ecommerce site (like my ghetto Poker Stash site), but more aligned to a community-user generated content site. I realize all of the major websites today are trying to reposition themselves into the new ‘Web 2.0’ craze, so why be left behind? The biggest sites today (Facebook, MySpace, Yahoo, Google, and Craigslist) seem to focus on connecting people and creating a ‘community’ so to speak. Stand alone websites where you show up and the site tries to SELL you everything on the planet (including sneakers for mice) will get you probably 30 seconds (if you’re lucky) or less of viewing time (I bet the advertisers are happy about that). I’m good on the first round of funding (namely my own pockets!) but I definitely foresee a need to raise a little more capital to implement some advanced features. If this thing takes off I might need some investors =D

Real Estate

This market is tighter than the bond between Shaq and Kobe (erm, wait?). I am not talking about residential, but I am talking the commercial real estate market. I wrote an offer for the Urban Outfitter property in Santa Barbara for $7.2M. Turns out a local beat us at $7.35M. That’s the way the cookie crumbles. Not that any of you care, but cap rates in the industry are still sub-6%. What the hell does that mean you say??? A cap rate determines the price of the property. So if the rent for the year is at $130,000 and the expenses are $30,000 you will have a NET income of $100,000 (rent minus expenses). Then you capitalize the income by a ‘cap rate’, meaning you take the $100,000 and divide it by the cap rate. So at a 6% cap (hard to find today) you will have $100,000 divided by 0.06 and your property is worth about $1,650,000. BORING I KNOW.

My buddy Rohit just bought a lot in Texas. He’s planning to hold onto the house for a year, then tear it down and building 2 duplexes. Haven’t heard where he’ll come out on this deal, but he says it’ll be about $200,000. NOT BAD EH?

Bruins

My BRUINS need to destroy Pitt and get to the ELITE EIGHT. I’ll die if they lose.

Newest Thingamabobber For Your Website

Forgive me, but I took this off of Tech Crunch’s blog (I know, I’m a biter). Check out Jatrx. You can make phone calls to a person, company or whatever FROM YOUR WEBSITE! That’s insane I tell you. Check it out, I put it on my own blog www.jeffignacio.com.