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I Think You Guys should
Totally Cosign on a Loan
and Here’s Why
A presentation brought to you
by your favorite middle-
dau...
First and Foremost
• Thank you both for taking the time
to listen to my pitch
• I love you both, regardless of what
you de...
Today I would like to go into
detail with you about…
• My current situation
• What I’d like to accomplish
• Why you can tr...
Me at age 21 vs. Me currently
• Cared mostly about
social status and
having lots of friends
• Couldn’t hold a job
more tha...
Getting the Right Perspective
Work
Sleep
Netflix/Video Games
Loving my Cats
Hula Hooping
Being Social
This is How I Spend ...
My Goals for the Immediate Future
• Stay Focused at Work
• Continue to deposit checks into Mom’s
account and let her help ...
Goals for the Not so Distant
Future
• Acquire a better paying position at
Starbucks
• Settle into a routine
• Continue to ...
Long-Term Goals:
A Plan of Action
• Establish Myself at Work
• Focus on taking charge of my credit
• Take advantage of the...
Fox Ridge Cooperative Townhomes
Fox Ridge Cooperative Townhomes
These townhouses are owned by the
Cooperative Corporation. Each family who
resides in one ...
Fox Ridge Cooperative Townhomes
When a member decides to move,
they put their membership up for
sale. A member is able to ...
Fox Ridge Cooperative Townhomes
Routine maintenance is provided by the
corporation for all things that are ‘standard
equip...
Fox Ridge Cooperative Townhomes
The townhouse that I want has two
bedrooms, one and a half
bathrooms, and a full basement....
Fox Ridge Cooperative Townhomes
Fox Ridge Cooperative Townhomes
These townhomes are appealing to me because…
• I stayed in them temporarily with a friend,...
My Potential Roommate, Eric.
Who is He?
• 28 Years Old
• No Kids
• Works Full-Time
• Has a Car
• Lived in previous
residen...
My Potential Roommate, Eric.
What is he looking for?
• At least a one-year
lease
• Somewhere fairly
close to where he
work...
My Potential Roommate, Eric.
In his own words:
“I’m looking for at
least a one year
lease. I was going
to be in that house...
Doing the Math
Rent and Utilities (per month)
• Rent -$435
• Electricity -$100
• Internet -$30
• Eric’s rent +$250
• Eric’...
Membership Equity
• Costs $5,700
• 3.55% seems like the kind of interest rate to
expect on a loan like this. With this rat...
Why You can Trust that I won’t
Fudge this Up
• I am having all of money deposited
into Mom’s account, and I trust her to
m...
Sweetening the PotWhile the loan is still open, it seems fair to let
you guys claim me as a dependant on your
taxes
I don’...
Thank You!
I truly appreciate you both for sitting
through my presentation! If you have any
questions or comments, please ...
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Convincing My Parents to Cosign a Loan

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Convincing My Parents to Cosign a Loan

  1. 1. I Think You Guys should Totally Cosign on a Loan and Here’s Why A presentation brought to you by your favorite middle- daughter
  2. 2. First and Foremost • Thank you both for taking the time to listen to my pitch • I love you both, regardless of what you decide • Please hold your questions/comments until after the presentation
  3. 3. Today I would like to go into detail with you about… • My current situation • What I’d like to accomplish • Why you can trust me with the responsibility of a loan
  4. 4. Me at age 21 vs. Me currently • Cared mostly about social status and having lots of friends • Couldn’t hold a job more than 3 months at a time and was constantly moving • Had no clear plans for the future, lacked ambition • Really loved to go out and party • Cares mostly about my family, my cats and my relationship • Held a job at shitty Ice and Olives for 3 years, and has finished a 2.5 yr lease • Has a bright future at Starbucks, excited to start a career • Really hates being hung-over
  5. 5. Getting the Right Perspective Work Sleep Netflix/Video Games Loving my Cats Hula Hooping Being Social This is How I Spend my Life
  6. 6. My Goals for the Immediate Future • Stay Focused at Work • Continue to deposit checks into Mom’s account and let her help me budget • Use my resources wisely as possible • Find a home that is close to work, will allow pets and is within my price range
  7. 7. Goals for the Not so Distant Future • Acquire a better paying position at Starbucks • Settle into a routine • Continue to budget as wisely as possible
  8. 8. Long-Term Goals: A Plan of Action • Establish Myself at Work • Focus on taking charge of my credit • Take advantage of the free college program through Starbucks • Formulate a business plan • Get a business loan (with OUT a cosigner!)
  9. 9. Fox Ridge Cooperative Townhomes
  10. 10. Fox Ridge Cooperative Townhomes These townhouses are owned by the Cooperative Corporation. Each family who resides in one of the townhouses owns a share (membership) in the Cooperative. Therefore, each member family is an owner of a portion of the whole development. There are no other persons who have an ownership interest in the development besides the people who live there. The cooperative is run on a non- profit basis.
  11. 11. Fox Ridge Cooperative Townhomes When a member decides to move, they put their membership up for sale. A member is able to secure a purchaser through advertising or other means, or may request assistance of the Cooperative office to find a purchaser.
  12. 12. Fox Ridge Cooperative Townhomes Routine maintenance is provided by the corporation for all things that are ‘standard equipment’ in the dwelling units, including the stove, refrigerator, water heater, furnace, and all plumbing and electrical systems. You are able to paint the walls, decorate and modify the dwelling, which could possibly even add to the value of your membership when you want to sell it.
  13. 13. Fox Ridge Cooperative Townhomes The townhouse that I want has two bedrooms, one and a half bathrooms, and a full basement. There’s also a small back yard. Water, trash, sewer and basic, expanded cable TV provided, as well as washer/dryer hookups
  14. 14. Fox Ridge Cooperative Townhomes
  15. 15. Fox Ridge Cooperative Townhomes These townhomes are appealing to me because… • I stayed in them temporarily with a friend, and they were very quiet and well maintained • They are within biking distance to work, and there are sidewalks the whole way •The full basement helps ease my anxiety during tornado season • The monthly rent when divided with a roommate in addition to the monthly loan payments would be very affordable • I want to stay somewhere for at least 5 years while I work on my credit, and this would be the PERFECT solution
  16. 16. My Potential Roommate, Eric. Who is He? • 28 Years Old • No Kids • Works Full-Time • Has a Car • Lived in previous residence for 2 yrs • Has bills in his name • Known him for 10+ years, and has never screwed me or anyone else over
  17. 17. My Potential Roommate, Eric. What is he looking for? • At least a one-year lease • Somewhere fairly close to where he works • A reliable roommate who won’t screw him over
  18. 18. My Potential Roommate, Eric. In his own words: “I’m looking for at least a one year lease. I was going to be in that house for a couple of years. I’m looking for something long- term.”
  19. 19. Doing the Math Rent and Utilities (per month) • Rent -$435 • Electricity -$100 • Internet -$30 • Eric’s rent +$250 • Eric’s Utilities +$75 That equals $240 I’d have to pay for rent and utilities each month.
  20. 20. Membership Equity • Costs $5,700 • 3.55% seems like the kind of interest rate to expect on a loan like this. With this rate, I could pay off the loan in 2 years, paying $235 monthly • That would make a grand total of $475 dollars I would pay monthly, for ALL of my bills! • Being able to save money monthly will allow me to have money to pay on other debts that I have weighing on my credit score • Paying off this loan will do wonders to improve my credit, as well! • I would only require a roommate for 2 years, and after that I can enjoy low rent in a fabulous community while I finish FREE college at my own pace • I would be able to get a loan for a car without your help
  21. 21. Why You can Trust that I won’t Fudge this Up • I am having all of money deposited into Mom’s account, and I trust her to manage my funds with excellent scrutiny • I care very much about my new job, and my plans for the future • I’ve shown a lot of progress in my ability to stay focused and stable • I was paying more a month just for rent at Shawnee Lake Apartments, and I was able to finish a 2.5 year lease (longer than it would take to pay off that loan!)
  22. 22. Sweetening the PotWhile the loan is still open, it seems fair to let you guys claim me as a dependant on your taxes I don’t expect any of the money that you get as tax credits for that, because I appreciate you guys taking a leap of faith on me and I want to show you just how committed I am to making the next chapter of my life KICK ASS
  23. 23. Thank You! I truly appreciate you both for sitting through my presentation! If you have any questions or comments, please feel free to discuss them with me now! I don’t expect an answer right away and I encourage you to think about your decision, but please keep in mind that time is a bit of an issue. Love you both!
  • DanaBigham

    May. 12, 2018

How could they say no??

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