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Wow that's a great price for $100k, what website did you buy the business off of?So a few weeks ago I'm looking at this 2006 Ferrari 360 Modena in red with nice wheels. Asking price is about $100k. I'm not one to spend $100k on a car, because every time I've had money I've put it into investments. So my other thought was I should just buy an investment condo which returns about 8% per year.
But then I came across an ecommerce store for sale for $100k which puts out $100k a year or $8k a month.
This got my thinking. Why would I ever pay $100k cash for a car or buy real estate if I could purchase online stores like these?
So I did some numbers and I could do the following:
Buy the store for $100k
Take the $8k monthly
Which is $6k after taxes
Buy a Ferrari with $3000/mo payments
Buy a home with $3000/mo payments
Why wouldn't this work?
And why doesn't everyone do this?
Poke some holes in this plan please or else I'm going to implement it this year.
I don't know if it's similar in the US, but here in Canada, most RE agencies list commercial properties and also businesses for sale. There's probably websites dedicated only to the business part, but I didn't find any (didn't really search either).Wow that's a great price for $100k, what website did you buy the business off of?
Definitely not the case in Germany! Maybe in the US it is different though.Probably the same amount of work to get a 100k business loan or a 100k mortgage.
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