Services - Agents & Brokers | Services - Other Business Services

$Seller Financing Available

Asking Price	$750,000	Inventory
Gross Income	$1,868,549	Real Estate
Cash Flow	$566,000	Year Established	1971
FF&E	$5,000*	Employees	4

* included in the asking price

** not included in the asking price

This long-established real estate brokerage firm specialiizes in the sale of foreclosed residential properties. The principal has developed solid relationships with major financial institutions involved in the Asset Default Management Industry. The company has a reputation for excellence in servicing this niche market. The acquisition requires that a Buyer be a licensed Real Estate Broker in the State of Minnesota.

Facilities: The tangible assets are limited to office equipment and furniture. The business operates from two leased facilities. The lease for the St. Paul headquarters is $1,200/month plus utilities. The lease for the second location is $1,300/month plus utilities.

Competition: The business occupies a niche in the real estate industry, having developed relationships with the foreclosure and asset default management departments of major financial institutions. The Seller intends to remain at the helm and continue to forge new relationships in this industry.

Growth/Expansion: Going forward, the Seller foresees the rise in foreclosures continuing and sees expansion opportunities in securing new clients in the asset default management industry.

Seller Financing Available: Yes

Financing: The seller will finance $400,000 of the Purchase Price.

Support/Training: As a condition to Purchase, the Seller desire a three-year management contract whereby she will act as the Broker and run the day-to-day operations.

Reason Selling: Approaching retirement; lifestyle considerations.