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Old 07-11-2006, 12:40 AM
smarino21 smarino21 is offline
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Join Date: Jan 2006
Location: Michigan
Posts: 345
buying a freind out of business

i got a freind who is in business and is looking to get out. Now at the current time i dont have a lota cash (liquid money) i think i could get everything from him for 20k i was thinking making a payment type thing? Do you think this could work or no?
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Old 07-11-2006, 12:47 AM
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deereman deereman is offline
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Join Date: Aug 2004
Location: USA
Posts: 518
What do you mean by liquid money??.............Do you have a warehouse full of beer?
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Old 07-11-2006, 01:10 AM
colawn colawn is offline
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Join Date: Apr 2006
Location: co
Posts: 141
he means how easy it is to get cash out for something. Econ classes.
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Old 07-11-2006, 02:01 AM
hmartin hmartin is offline
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Join Date: Sep 2004
Location: MS, zone 7b
Posts: 590
Yes, with a well written contract.
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Old 07-11-2006, 04:23 PM
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driver5 driver5 is offline
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Join Date: May 2006
Location: Nashville Tennessee / Mount Juliet
Posts: 270
find out from his customers first if they will keep you after you buy out his business... It will suck to buy the business, then have the customers drop you for someone else..

What I did when i bought 20 yards several years ago was....... I helped they guy who i bought the yards from ... helped him cut grass, and while we cut, he introduced me to the property owner. He told them the situation and asked if it was ok... Everyone of them said yes...

Just dont want that to come back and haunt you later for not asking first.

Plus....... dont pay more that 2x's the value of one yard per cut.. if i have confused you, i can explain more later tonight...
Full Time Fire Fighter / Part time LCO

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everything else you would
need to get things done.
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