Pricing a business - Posted by JR

import · February 18, 2001, 2:55pm

Posted by JR on February 18, 2001 at 20:22:08:

I gotta be a little carful about who I tell about selling. But I like your ideas. BTW I want the equity.

import · February 18, 2001, 2:55pm

Posted by JR on February 18, 2001 at 15:55:56:

I need help with this one:

I took a commercial building over subject to the first mortgage of 290K. The building is worth 450 and has equipment of about 125-150K. I found out that I am not in this type of business. I had started a new corporation and placed the building and the business in this new corp. It has been a drain every week. I want out…kind of a don’t wanter. Roughly I figured that there is about 550K for everything. The business had a track record but it failed because of personal problems. The bank found out that the deed has changed hands and wants me to qualify for the darn mortgage. For which I am not going to. I figured that there is 260K in very rough equity. Any marketing ideas? BTW its a Paint and Body Shop 7 bays and the building is 2 years old and is 7500SF

Thanks CRE
Jonathan

import · February 18, 2001, 3:27pm

Re: Pricing a business - Posted by Charles Steed

Posted by Charles Steed on February 18, 2001 at 16:27:55:

Contact every body shop in town. Start off by saying, “Boy, is this your lucky day…” You can pick up all this equipment, equity, and good will for…then name your price…That’s how I’d start…Good Luck