Please advise - Posted by mj

Posted by mj on August 10, 2005 at 09:45:10:

just found out it’s already gone. thanks

Please advise - Posted by mj

Posted by mj on August 10, 2005 at 08:34:04:

Found a bar/nightclub for sale. I know the area- it’s been
underdeveloped, that’s changing as the more metropolitan areas are running out of land-people are moving here. House prices are escalating, upscale housing developments on the increasel.
I don’t have the actual address of this business, but i think i know where it is- the intersection of two main streets, which are slowly developing, in “downtown” area.
Here’s what the ad has:
Been established business 30 years-5 employees, 6200 sq ft bldg. 2 floors-main bar with dancing & music downstairs, second bar upstairs has pool tables, and looks over the downstairs. included 4 COP license. Inventory not included. FF&E 70,000 is included. Asking 450,000, Gross 351,014, cash flow 71,522.

I am brand new at this-other than studying, and reading. I
have contacted the listing agent to see it, and I asked if the property was included. I believe there is a good established business here-with great potential to change with the demographics.

Besides finding out if the property is included, and if the seller will carryback a percentage (selling because of a new opportunity) what else do I need to find out? Do I need to forget this-it doesn’t look good already?
Any help greatly appreciated.