[Jewelry making - Article 01115] - Re: [Orchid] Business purchase

[kevdan]

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    Is the owner going to carry the note or does he want you to pay all
    at once, also if you get a bank loan will their be any money left to
    pay yourself after you pay the bank every month. The interst on a
    loan that size could be huge. My brother was going to buy into a bar
    and the owner was willing to get the loan in the bars name using the
    property as collateral then taking all the money and leaving my
    brother to pay back the loan it was at a much lower interst rate
    than trying to get a regular loan, plus alot easier to get. Does the
    store own the building if not is there a rock solid lease. I am not
    sure if banks will lend money based on inventory here in tucson I
    have seen stores try to do that but the banks wanted realistate they
    would not accept jewelery as colateral. I wish I knew more about
    this but this is just stuff that I have experienced. good luck Kevin 


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