Post a new topic
    2 Replies Latest reply on May 30, 2010 10:50 AM by mikehotel

    second time asking - buy a biz with no money down?

    mikehotel Adventurer
      Hello out there,

      It seems as though this topic has generated some moderate interest - however the only person that has responded has not shown much interest beyond the first question. So in an effort to elicit a legitimate response, I am asking the same question:

      Has anyone viewing this forum ever bought a business without putting any of there own money in? My reason for asking is quite simple - there is a legitimate business in Mexico that I want to buy - a small hotel/guesthouse - and I haven't got the money for the down payment let alone buying it outright.

      Please feel free to contact me through :

      randomjack123@gmail.com

      thanks all - I look forward to hearing from someone who may have something worthwhile to add to the thread and perhaps share some advice with me in the process

        • Re: second time asking - buy a biz with no money down?
          phanio Pioneer
          From a financial prospective, it is always better to use some else's money - called leverage. But, in reality, you will always need to contribute something to the deal. Put yourself in the shoes of an investor or lender - why would they lend or give you money if you have nothing to lose.

          History has shown, those with nothing in the game or nothing to lose tend to walk away without a fight. But, if your own personal contribution is at stake - you as the borrower will work harder to ensure success.

          Your question should not be how to buy a business with no money down - but how to fix your own situation and acquire the money (the percentage you need) to make the deal work. Don't expect lenders or investors to change their rules to fit your situation - but, fix or improve your situation to fit the rules.

          If you are seeking a business in Mexico - start with local lender or investors in Mexico - do your research to determine how much you will need of your own money - then work to make that happen.

          Business Money Today
          www.BusinessMoneyToday.com
          1 of 1 people found this helpful
            • Re: second time asking - buy a biz with no money down?
              mikehotel Adventurer
              Hi Phanio,

              Thank you very much for your very honest response to my question. It would be great to speak about this further if possible.

              Please send an email to me at:

              randomjack123@gmail.com

              Thanks once again for your input, I value any real advice from "real" people greatly.

              Question?: Do you believe in intangible assets? Do they carry any weight during the lending process?