I would like to buy a business in Florida that cost 600k and I have 70k saved and the business cashflow is 260k

Asked by Duch, Longwood, FL Fri Apr 22, 2011

My credit score is 800 I am unemployed no dependents I wonder whether I could get finance to buy that casino.

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Ken Anderson, Agent, Orlando, FL
Fri Apr 22, 2011
It may be an uphill battle as you are not at the 20% down and I don't know anyone that accepts less for a commercial property. Commercial loans regularly want 30% down.

When you say cash flow are you meaning the profit? if so you are looking at 43% cap rate which would entice partners for possible capitalization. it nay attract a hard money lender as well.

I know of some casinos that have numbers that would be viable for you if you are interested. but I doubt the one you outlined will work.

All the best,
Ken Anderson
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Pamela Maria…, , Longwood, FL
Fri Apr 22, 2011
What kind of business are you looking for? What is your timeframe?
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