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    5 Replies Latest reply on Aug 29, 2008 10:40 PM by finsolamerica

    Car Guys Need Some Operating Capital *Fast*

    carguy Newbie
      Here it is...A former Ford dealership (minority store) goes under and Ford franchise is given to another dealer in town. So that leaves an empty dealership. Three career car guys want in and know what it will take. The property listed by David Yaman Realty Serices in Cortland, NY is asking 1.8 million, however the owner is determined to sell. Mr. Newcomb is 80 and is no longer interested in working. So, that leaves us trying to get in. We need a partner with some capital willing to form a partnership to run a full servce used car superstore in a great city. Our team is determined to reap the benefits and rewards of knowing our market not to mention almost the whole community. We could lease out the service and body shop department if need be, however it won't be necessary. The team is already in place, we just need a little push with some operating capital. The other idea is that someone buy the property and lease /purchase to us with a profit already assembled in the agreenment. If it can be purchased for 1.0 -1.2 million and we sign a lease purchase for 1.8-2.0 million for five years. We need $300-$500k in operating capital and are offering a 20% partnership to help. This really is a great buy. The property was appraised for 1.7million according to the owner. The floor plan is in place, and that can be negotiated as well. Please help! We only have a few days. Another lease is on the table from an out of town dealer and we want to stop him from coming in. Please call 607-345-2505
        • Re: Car Guys Need Some Operating Capital *Fast*
          Fortis Wayfarer
          Hello carguy,

          This sounds like you have found yourself a nice piece of property in a great location. What options of financing have you guys considered so far?

          Have you looked into an SBA loan? That might be an option since the money is for property. How long ago did the owner say it was appraised?

          Let me know how it works out and feel free to ask me any questions. Good luck!