Need advice on making an offer to buy a business~

[halo/horns]

Ok, I have been approached about buying a local building and contents…. NOT the business itself. They want some personal items and the deco off the walls, but everything else goes.

So, how to you value it? Normally you would look at financial docs and such but in this case that isn’t relevant. I called the Tax Appraisal office and found that the building is valued at $30k and contents at around $12k. They basically want to walk away and hand me the keys but I just found out that the rumor mill has 2 others making offers too. I just don’t even know what ballpark to start in.

For what it’s worth, the father has cancer and asked them to call me since he knew I was starting a similar business and looking for a storefront.

HELP!

[STANGGT40]

Ok, I have been approached about buying a local building and contents…. NOT the business itself. They want some personal items and the deco off the walls, but everything else goes.

So, how to you value it? Normally you would look at financial docs and such but in this case that isn’t relevant. I called the Tax Appraisal office and found that the building is valued at $30k and contents at around $12k. They basically want to walk away and hand me the keys but I just found out that the rumor mill has 2 others making offers too. I just don’t even know what ballpark to start in.

For what it’s worth, the father has cancer and asked them to call me since he knew I was starting a similar business and looking for a storefront.

HELP!

you need to run comps on the building...you'll have to figure the value of the contents based on ebay, craigslist, etc.

[halo/horns]

you need to run comps on the building...you'll have to figure the value of the contents based on ebay, craigslist, etc.

Can your spouse still run comps? I have the address...

[STANGGT40]

Can your spouse still run comps? I have the address...

i'm sure she can, but give 96cobranate a shout...amy is about to pop! lol (being induced on wednesday).

[Denny]

Ya, run some CMAs, then I'd start pricing individual equipment that'll stay.

That seems to be the fairest way to give a price.

[STANGGT40]

Ya, run some CMAs, then I'd start pricing individual equipment that'll stay.

That seems to be the fairest way to give a price.

look at denny and his fancy lingo!

cma = competitive market analysis

[bcoop]

Rhonda, was this previously a restaurant? I assume the only business you'd be looking to buy is to expand Sweet Accessories.


If so, I can tell you how Travis Mitchell Auction operates when they go in and buy things.

[Denny]

look at denny and his fancy lingo!

cma = competitive market analysis

I hear it from my wife all the time... damn real-a-tors (she hates that).

[MutherjuggZ]

i'm sure she can, but give 96cobranate a shout...amy is about to pop! Lol (being induced on wednesday).

congrats man!!!!!

[STANGGT40]

I hear it from my wife all the time... damn real-a-tors (she hates that).

haha...me too! i do the same thing...call them "real-uh-tors"...like skeletor, from he-man! lol they love that! (my mother-in-law is a realtor as well)

congrats man!!!!!

thanks!

[bcoop]

I hear it from my wife all the time... damn real-a-tors (she hates that).

Your wife is a realuhtor now?

[Denny]

Your wife is a realuhtor now?

She has been since 01, but currently inactive on the license and staying home with the babies so I can make it rain, yo.

She got her Business Administration specializing in Real Estate from UNT, then worked for Coldwell for a while. When I get back (if I don't land the Guam project), she might get back in it and eventually work towards her broker's license.

I'm good either way. I'll let her decide what she wants to do. Right now, she loves being home with the babies. I might just pull a JKD Steve and switch with her. LOL

[bcoop]

I might just pull a JKD Steve and switch with her. LOL

#armbarwinning!

[idrivea4banger]

#armbarwinning!

Lol! As long as Denny doesn't start preaching his holier than thou.....errr wait a minute.

[Denny]

Lol! As long as Denny doesn't start preaching his holier than thou.....errr wait a minute.

Mother bitch!