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I've been living out of the US for 10 years. If I buy a business, can I takeover their lease with no credit?

I have lived overseas for 10 years but now I want to return to the US and buy a small business. I have some cash to buy the business, but I have no credit in America. Will I be able to takeover or renegotiate a lease easily with the property owner of the business I buy?

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Answers (3)
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The BAF Group LLC
MD

It depends on the landlord. Some are tougher than others, in that area. There is no pat answer.

Jun 20, 2011
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Hi, Matt
I'm a 100% owner (I'm not a broker.) of a company in Western Michigan which can easily be RELOCATED to any city. I was wondering if you might be interested in my company and this type of industry ( The Automotive Performance Aftermarket ). If so then you should look at my company as I want to "RETIRE" and willing to help the new owner with training. This is a exciting Automotive Aftermarket Performance Industry business and is a hands on operation and can easily be run by two people. We manufacture unique products and sell into a niche Corvette performance and Street Rod markets . Operating business hours are 830am to 530pm Monday thur Friday. If necessary i will carry paper for financial assistance for a period of time. Please take a look at my BizBuySell AD#494972 (Automotive Aftermarket Performance Muffler Manufacture). Call me anytime for a quick phone conversation at 616-402-3877 E.T. and i can brief you on my company to determine if it fits your business plan and if you want to pursue this opportunity further.
Joe Marko
j_marko@hotmail.com

Give me a call to talk about this possibility

Jun 20, 2011
Bill Morkes
C-Store Xchange
Shelby County, TN

It depends... depending on your capital reserve and experience, your actual credit may not matter at all. Most Landlords are more concerned with your ability to make the payments (which for a business is more about your experience and ability to make money, than it is about your personal credit).
Also, you may be able to take over a business on the current lease- basically subletting it from the current lessee. This way the landlord still has the first person on the hook (and may make him feel more secure).

Jun 13, 2011

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