Greetings everyone. I have been conversing with a business broker in my area, just getting my feet wet. Below is the conversation I had with him via email. Anyone have any experience with buying a business with out much of a down payment?
From: Tyler
Sent: Wednesday, June 04, 2008 5:56 PM
To: Michael
Subject: RE:
Hello Michael,
We had spoken on the phone this afternoon. I would presume that I would be excluded from this sale as well for not having much of a down payment? Are there any options I have to get around a large down payment? I know there are creative financing deals available but how willing is a seller to partake in special financing deals? Thank you for contacting me!
eTyler19
Subject:
Date: Wed, 4 Jun 2008 17:39:16 -0500
From:
To: etyler19
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-Michael
Michael,
I could come up with about 5K. I would also be willing to use the cashflow of the business to use as a down payment if a deal went through, let me know what you think. I will be buying a business, if not now then definitely later on... Just let me know what I need to get a deal done.
Thanks,
Tyler
_________________________
Michael
From: Tyler
Sent: Wednesday, June 04, 2008 5:56 PM
To: Michael
Subject: RE:
Hello Michael,
We had spoken on the phone this afternoon. I would presume that I would be excluded from this sale as well for not having much of a down payment? Are there any options I have to get around a large down payment? I know there are creative financing deals available but how willing is a seller to partake in special financing deals? Thank you for contacting me!
eTyler19
Subject:
Date: Wed, 4 Jun 2008 17:39:16 -0500
From:
To: etyler19
.ExternalClass .EC_hmmessage P{padding-right:0px;padding-left:0px;padding-bottom:0px;padding-top:0px;}.ExternalClass BODY.EC_hmmessage{font-size:10pt;font-family:Tahoma;}
Tyler -
You spoke with my associate, Tim , this afternoon.
How much do you have in the way of a down payment? With that information, I can let you know what kind of business, if any, you might qualify for.
You spoke with my associate, Tim , this afternoon.
How much do you have in the way of a down payment? With that information, I can let you know what kind of business, if any, you might qualify for.
-Michael
From: Tyler
Sent: Friday, June 06, 2008 1:04 PM
To: Michael Subject:
Sent: Friday, June 06, 2008 1:04 PM
To: Michael Subject:
Michael,
I could come up with about 5K. I would also be willing to use the cashflow of the business to use as a down payment if a deal went through, let me know what you think. I will be buying a business, if not now then definitely later on... Just let me know what I need to get a deal done.
Thanks,
Tyler
_________________________
Tyler -
To buy a business through Sunbelt, a minimum cash requirement would be $50,000. If you have no down payment, a seller is NOT going to allow you to use 100% of the cash flow of the business to buy the business. Under those circumstances, no sane person would ever sell a business.
Please feel free to contact us when you liquid capital situation improves.
To buy a business through Sunbelt, a minimum cash requirement would be $50,000. If you have no down payment, a seller is NOT going to allow you to use 100% of the cash flow of the business to buy the business. Under those circumstances, no sane person would ever sell a business.
Please feel free to contact us when you liquid capital situation improves.
Michael
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