I recently reached out to a broker about a laundromat he had listed in my area. In the add he had “50k reduced price”. Seemed like something you would see on a car for sale than a business but whatever. I called him up and the first thing he asked is if i need financing or if i have cash. I said i needed financing and he immediately said this business is not for you, the sale needs to be cash.
talking with him further he goes on to say that its a all cash business so its hard to prove stuff and the lenders wont finance because of the age of the equipment etc etc.
To me it just seems like the broker wants someone who isnt going to do their due diligence. I know there is ass for every seat so to speak but come on are people really willing to spend hundreds of thousands of dollars without really diving into the number of the business??
I was very put off by this broker but the search will continue.
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