I’m Buying The Business from My Aging Parents…

I’m Buying The Business from My Aging Parents…
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[@cooltkll]

3 day cares and 4 buildings...where is the 4th building located???

[@dano8613]

Maybe a maintenance building or a potential future 4th day care

[@joeriveracomedy]

These goofs saw too many Chase Morbey commercials. Creative financing is french for we don't have enough money to be be a player.

[@Painfulwhale360]

Hehe! You said be be 😬

[@flybyav8tor]

It helps reduce tax burdens on the sellers significantly, so there is that. Seller financing is creative financing and it’s amazing. We are doing seller financing with our home right now and paying the entire house off in 24 months with 0% APR.

[@joeriveracomedy]

​@@Painfulwhale360reaching

[@justusbryce3392]

Well what Dave is suggesting is also creative finance, albeit different than what Chase suggests. Traditional financing would be just borrowing the money from the bank to buy the business and the property, not putting in profit payments and lease to own structures.

[@masoquistaeo]

If they pay $320 grand a year, it will take them 5 years to pay $1.6 million.

[@MichaelHasebroock]

That's true while making 80k per year. They can raise their prices to try get over that 320 mark and pay them off sooner.

[@RealFrankieFriday]

Why sell your company for a fraction of the profits when you can just keep it and get those profits anyway?

[@justusbryce3392]

Because you don’t want to spend your time and energy running a company any more and just want to retire

[@RealFrankieFriday]

Why not sell the company instead of giving it away? The structure Dave suggests is basically giving away the company for nothing, because the owners were already going to get those profits.

[@justusbryce3392]

@@RealFrankieFriday who do you think is going to pay more for it? And why? People only buy businesses to make money.

[@RealFrankieFriday]

Who would pay more than nothing? Plenty of people.

[@justusbryce3392]

How is it nothing? The business has to be operated. Someone has to be there to make decisions and keep it running. If you don’t want to do that then you might hire someone to do it, but you might also take a set return to just be done with it. There’s always a risk the person you hire could run it into the ground.