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Is $ 5O,OOO enough to purchase a Liquor store or Gas station in IL ?

I need help in finding one and arrange financing the deal from A-Z
Any help is really appreciated

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Answers (5)
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hospitality
VP of Operations
New Haven County, CT

I am in liquor business in conn but I want to buy my own, are you looking for a partner, email me at kpatelbusiness@gmail.com

Oct 30, 2010
Kathryne Pusch
ConsultKAP Inc./Business Brokers Network
GA

Likely NOT. Inventory in a liquor store is generally in excess of that, and requires "cash on the barrelhead." If you find a seller (with inventory in excess of this $50K) desperate enough to let you "buy his business" for $50,000, he is likely just trying to escape his lease liabilities, and he may not be aware that your assuming the lease will not automatically remove his guaranty. I recommend that you chat with an experienced and reputable professional broker in your market.

Oct 25, 2010
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Corporate Financiers
President

Nawal,
To reiterate our discussion Saturday. It is best to seek a site where the real estate is offered. Further you will want to negotiate a seller note, which when combined with your $50k will total at least 25% of the purchase price. In addition to meeting certain LTV requirements, banks will also require certain debt service and other requirements - I can assist with this as well. There is no charge to the borrower for my service and I will assist from start though funding.

As a prior Banker at such finance firms as Merrill Lynch, I have first-hand actual knowledge of lending and associated requirements.

Todd 312 488 3505

Oct 10, 2010
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Biz2Credit LLC
New York County, NY

Nawal,

Biz2credit (www.biz2credit.com) can help you in getting finance for your liquor store/ gas station. You can use $50,000 as down payment and u will need a seller note and bank financing for rest f of the deal. Register for free on Biz2Credit and get started.

Oct 10, 2010
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No Because ONLY inventory would be more than that.

Oct 10, 2010

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