the question here is : Can You Buy "YOUR FIRST" Business With No Money Down? do you have an answer here . I don't know if people like codi cares aboiut a youtube channel comments and answer them
You can. In fact it's BETTER to buy your first business with no money down (which doesn't mean without money btw - 'no money down' really means 'without using your own money'). Buying businesses is expensive, so it's smarter to NOT use your own money. One strategy to buy businesses without using your own money is to do a sale & leaseback (if the business owns the property/real estate in their business) and use the money from the sale of the property as down payment to the seller, then the rest of the asking price is paid over time. A friend of mine is doing this successfully, in fact he's just closing on a $9.6 million deal that's been financed this way.
Can't believe I'm just discovering Roland Frasier today! Kudos to the interviewer. Getting rarer these days to find those who are humble to allow their guests share without interrupting...
@@michaelc1114 Not in my country,city I guarantee you. I had to buy an already 80k business just to be able to access a great lease location. In that area to get a commercial lease 9average 700 sf You need to show 3-4 years of book from your business. Buying an existing one got me in with a coffee/donut,,plus now I expand it my way.