Daycare Prison - Posted by John Minnis
Posted by John Minnis on February 05, 2001 at 16:42:13:
Here’s the deal:
I have two aunts in a small town in southern Illinois, about 45 minutes from St. Louis, who some years ago started a daycare for kids. They found an old church that was suited to the job. It has running water, two kitchens, bathrooms, of course, an open area upstairs and almost living quarters in the basement.
Anyway, my aunts are older now and would like to get out from under the business, which barely paid the bills anyhow. They’ve had several couples want to buy the business, but the banks are not interested. My aunts now seem trapped. They can’t just close the daycare because it at least pays the mortgage. But they can’t sell either.
I was thinking maybe they could do a land contract or owner-financed deal. What do you all out there think?