Debt Free Development
In 2010, Brad and Kim Oaster were convicted by God (and Dave Ramsey) to get completely out of debt. They took on the "debt free challenge" and for the next several years focused on eliminating all debt from their company and their personal life. Success came in 2014 when the Oaster's committed to flying Southwest Airlines for all business trips and sold the last item they owed money on - the company airplane.
As it turns out, debt free living is easy to adjust too! More money than you need is always a good thing. This has allowed Brad and Kim to give like they have always wanted to and to get more involved in what God is doing both here at home and around the world. But it created a problem!
New property and new facilities are very expensive. Most churches do not have the financial ability to pay cash when buying land or building new facilities.
How can someone who whole-heartedly believes in debt free ministry continue to develop new church facilities and in doing so, place Christian ministries deep in debt?
To accomplish this, Brad had to create a new development model. One that would allow churches to build the facilities they need, yet keep the ministry debt free. This is accomplished by modifying the typical church corporate structure and developing alternate “economic engines” that incur the debt, make the payments and keep the ministry debt free, while allowing the church full use of the facilities.
These “economic engines” have proven themselves over the last 30 years and have completely paid for church facilities in the past. This allows the church to spend their money on what matters the most (people and programs) while staying focused and on mission.
While there is a long list of economic engines to choose from, the main enterprises consist of child-care, mini storage, wedding centers, event centers, commercial kitchens and more. Oaster Development partners with industry leaders in each field to develop and operate profitable businesses that exist to provide Christian ministries with the facilities they need.
Now you can have the church facility of your dreams with out the heavy mortgage that typically accompanies the building! And Dave Ramsey won’t be mad at Brad for putting your ministry into debt!!!!
