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Wade Pennell

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Hello, I am very interested in the Mergers and Acquisitions arena. However, I am would need to start working on no money down deals. I have started reviewing business listings from online brokers. I will need to find a seller willing to carryback a portion of the sale and find a preferred SBA lender.

Does anyone here have any experience in this field? Especially starting off on a shoestring, like I am.

Wade Pennell
 

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WJK

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Hello, I am very interested in the Mergers and Acquisitions arena. However, I am would need to start working on no money down deals. I have started reviewing business listings from online brokers. I will need to find a seller willing to carryback a portion of the sale and find a preferred SBA lender.

Does anyone here have any experience in this field? Especially starting off on a shoestring, like I am.

Wade Pennell
SBA loans take collateral. You must have assets to get one.

I feel like you're putting the cart before the horse. Do you have any business experience? How do you know if you are buying a dying one? And how do you know how much that business is worth? Have you noticed? Most businesses fail. You can pick up assets from a failed business all day long for pennies on a dollar. The basic business ideas are free.
 

biophase

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Hello, I am very interested in the Mergers and Acquisitions arena. However, I am would need to start working on no money down deals. I have started reviewing business listings from online brokers. I will need to find a seller willing to carryback a portion of the sale and find a preferred SBA lender.

Does anyone here have any experience in this field? Especially starting off on a shoestring, like I am.

Wade Pennell

The SBA will require some money down and also experience.

If a seller carrybacks 20%, it doesn't mean you put down 20% in the SBA's eyes.

Also, if you have 20% down and no experience, the SBA may not approve your loan either.
 

WJK

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The SBA will require some money down and also experience.

If a seller carrybacks 20%, it doesn't mean you put down 20% in the SBA's eyes.

Also, if you have 20% down and no experience, the SBA may not approve your loan either.
I've seen them attach every piece of property that the buyer owns...
 

Wade Pennell

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Yes. I just did a seller side financing deal with some down. I am extremely interested in the no money down.

More than happy to answer any questions.
I would love to hear about the details. How much did you end up putting down? Did you go for SBA 7a funding? What was the business and do you have experience?

Sorry to hit you with so much. I am new to this and trying to build information and confidence.
 

MrTrash757

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I would love to hear about the details. How much did you end up putting down? Did you go for SBA 7a funding? What was the business and do you have experience?

Sorry to hit you with so much. I am new to this and trying to build information and confidence.
I paid $20k for the Shopify site (should have negotiated down more but the assets are worth more than that, lesson learned), I put $8k down and have a 12 month agreement to pay remaining $12k, with the ability to pay the seller off early. Shopify site is in the aviation industry, which I do have experience with. My e-commerce experience is limited but growing everyday I will admit, its been quite interesting to see that the simple changes I have made are bringing in the dollars. I just looked at the stats over the past two months of ownership, and conversion rates/sales are nearly double the same time as last year. Good sign as I reduce the burn rate (due to the payment plan).

No SBA 7a financing, strictly seller-side, which made it easier to make a deal. Eventually I'll look at playing with other people's money.
 

Wade Pennell

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Read Millionaire Fastlane
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Sep 3, 2018
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Rialto, CA
Yes. I just did a seller side financing deal with some down. I am extremely interested in the no money down.

More than happy to answer any questions.
Hello, I would like to hear more about the details, what type of business did you acquire, and how much experience do you have? Also, did you use SBA 7a for funding?

Thanks
 

ReeZ

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Oct 9, 2016
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Hello, I am very interested in the Mergers and Acquisitions arena. However, I am would need to start working on no money down deals. I have started reviewing business listings from online brokers. I will need to find a seller willing to carryback a portion of the sale and find a preferred SBA lender.
Doing a 0-OOP (0 out of pocket) deal isn't the easiest thing to pull off. You would need to find a motivated seller who has belief in you, and someone willing to finance the deal. Theoretically, this could be the same person it just doesn't happen very often.

Do you have any business experiences? What kind of businesses are you actually looking to acquire and do you have relevant experience in that industry?

The best deals aren't gonna be found at brokers. Deals for 0-OOP are pretty much non-existent at brokers. You need to have a network or reach out cold to various businesses that are of interest to you. Of course, there are many more ways of creating deal-flow
 

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