Hello All,
I am trying this again. But before we begin, please do not ask me to send you a "Due Diligence" fee or any other fees upfront or otherwise.
I am currently an Executive Vice President at a company that is on the brink of collapse.
I have given my soul to this company and have given money out of my ownpocket trying to save it...not just me but others also. I am just talking about myself.
Right now, I have 20 million shares worth practially nothing. And the business is borderline Chapter 7. I have never worked harder,sacrificed more, taken cuts in pay...you name it, I did it to try and keep this place afloat. Its literally the best job I ever had and that is why I did so much to try and save it the last two years.
In April, I finally threw in the towel. I have no more to give. And I told my wife I would never go all out for a company unless its something I own. Which brings me to this topic.
How can I buy a business with no money down? That sounds insane to me especially with the way things are in this country right now.
I had my eye on a laundromat in Manhattan and its up for sale for about 550k. But it was sold. I am know looking at two others and pending verification of financials, seem to be a great investment. The prices are 199k and 75k respectively.
No way I can afford this since I have given so much of my savings to my present company. I currently just have about 12k saved.
They are both willing to owner finance. But usually, I have to come up with about half.
How can I go about doing this? Is it really possible? I have IMPECCABLE references that I can submit to anyone that can vouch for my character, integrity, work ethic...whatever. They are all from C-Level people in the US and in Switzerland. All can be verified using SEC 8k, 10k and 10Q filings as reference. But that and a bag of beans will get you squat at a bank when they run your credit and see that in the last 18 months, you basically ruined your credit...even though its because of my paycuts that I just had to make necessary adjustments so that I can hold out hope things would turn around at the firm.
I want to supplement my income and parlay this opportunity into another purchase by the end of the summer. I want to leave this depressing place as it feels like I broke up with my wife after 10 years of marriage! You give it your all and now its pretty much over.
This business is pretty recession proof and its instant revenues. I would like an investor that would be willing to fund the acquisition and get money back within 18 months and a certain % or reasonable interest on that money. I can validate everything on my end and hope you can on yours. If worse comes to worse, for the right opportunity, I am willing to put up my 2007 SUV as collateral...or my home (though its probably upside down in this economy and would like to use it as a last resort).
One of my questions is can you take the tax returns and financials to a bank a secure a loan
that way without credit or whatever else? I kinda think this may be of
a monumental task especially in the tough times we are in.
I don't think I can ever sell my soul to corporate America again. It has to be about me going forward.
Any feedback on this would be greatly appreciated.
I am trying this again. But before we begin, please do not ask me to send you a "Due Diligence" fee or any other fees upfront or otherwise.
I am currently an Executive Vice President at a company that is on the brink of collapse.
I have given my soul to this company and have given money out of my ownpocket trying to save it...not just me but others also. I am just talking about myself.
Right now, I have 20 million shares worth practially nothing. And the business is borderline Chapter 7. I have never worked harder,sacrificed more, taken cuts in pay...you name it, I did it to try and keep this place afloat. Its literally the best job I ever had and that is why I did so much to try and save it the last two years.
In April, I finally threw in the towel. I have no more to give. And I told my wife I would never go all out for a company unless its something I own. Which brings me to this topic.
How can I buy a business with no money down? That sounds insane to me especially with the way things are in this country right now.
I had my eye on a laundromat in Manhattan and its up for sale for about 550k. But it was sold. I am know looking at two others and pending verification of financials, seem to be a great investment. The prices are 199k and 75k respectively.
No way I can afford this since I have given so much of my savings to my present company. I currently just have about 12k saved.
They are both willing to owner finance. But usually, I have to come up with about half.
How can I go about doing this? Is it really possible? I have IMPECCABLE references that I can submit to anyone that can vouch for my character, integrity, work ethic...whatever. They are all from C-Level people in the US and in Switzerland. All can be verified using SEC 8k, 10k and 10Q filings as reference. But that and a bag of beans will get you squat at a bank when they run your credit and see that in the last 18 months, you basically ruined your credit...even though its because of my paycuts that I just had to make necessary adjustments so that I can hold out hope things would turn around at the firm.
I want to supplement my income and parlay this opportunity into another purchase by the end of the summer. I want to leave this depressing place as it feels like I broke up with my wife after 10 years of marriage! You give it your all and now its pretty much over.
This business is pretty recession proof and its instant revenues. I would like an investor that would be willing to fund the acquisition and get money back within 18 months and a certain % or reasonable interest on that money. I can validate everything on my end and hope you can on yours. If worse comes to worse, for the right opportunity, I am willing to put up my 2007 SUV as collateral...or my home (though its probably upside down in this economy and would like to use it as a last resort).
One of my questions is can you take the tax returns and financials to a bank a secure a loan
that way without credit or whatever else? I kinda think this may be of
a monumental task especially in the tough times we are in.
I don't think I can ever sell my soul to corporate America again. It has to be about me going forward.
Any feedback on this would be greatly appreciated.
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