Posted by JohnBoy on June 26, 2000 at 13:37:47:
Easy! Just collect enough income to cover all expenses plus loan payments and what’s left over will be your healthy cash flow! How would I know? You don’t give any details on the business. That’s what your buying, a business! Not just a property that generates its own income. You as the EMPLOYEE of YOUR business is what will generate the income, not the property. Are you willing to buy yourself a JOB? That’s what you would be most likely buying, a JOB!
What is the monthly GROSS income?
What do the utilities cost per month?
What does the food cost per month?
What does the up keep cost per month?
What are the property taxes per month?
What does insurance cost per month?
What does payroll cost per month? (if there will be employees)
What do repairs and maintenance cost per month?
What does laundry cost per month?
You need to find out what ALL the expenses run to operate this business before you can even begin to figure out what or even IF you can make anything at all.
Once you find out what the gross income is and what the actual expenses are, then deduct those expenses from the monthly income. What ever is left over will need to cover your mortgage payment. What ever is left over from that will be your monthly income. Until you can furnish all this information no one will be able to help you in determining whether there’s anything you can do or not to structure a deal from this. But keep in mind one important factor on this, you will DEFINATELY be buying yourself a JOB!