biophase
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It would probably require me to quit my job and do this full-time (so I need at least $4k/mo from it to live on)
I started running the numbers and can't seem to make it work. A $500k loan for 5 years would mean ~$110k/yr in debt repayment - leaving $40k pre-tax.
I may be wrong here, but if you have to ask these questions I don't think you should be looking at buying this business. It feels like it's like having someone ask me if they think they can afford a Ferrari. If you have to ask yourself that question, the answer is no.
If I were to buy a business, I'm not thinking if I can afford it. I'm thinking how I can increase its revenue from day one. If you do this, you will be cash poor and may not be able to make any moves that you want.
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