Putting the horse before the cart?

[Anonymous]

Hi all,

I am writing a business proposal. I have seen a few potential laundromats. I have not presented the proposal to our investor. Would you call and get the numbers, etc. from these sellers before the investor is a go, or would you send the proposal first-without concrete numbers- just estimates?

TIA

[anonymous]

I would make sure you have the perfect business opportunity before bringing it to the attention of the investor. I went through 6 deals before I closed on my first mat. It was well worth the wait!

[pete f]

Hi all,

I am writing a business proposal. I have seen a few potential laundromats. I have not presented the proposal to our investor. Would you call and get the numbers, etc. from these sellers before the investor is a go, or would you send the proposal first-without concrete numbers- just estimates?

TIA


Do you mean your banker? Investor? what is that? There is not enough profit to share for your hard work, trust me! Either figure a way to buy on your own or wait until you save up enough to do so, at least 40% is my recommendation. If you are well healed and financially capable, and have other assets you can pledge, then you can do deals with much less cash down, but don't expect any cash back for awhile..I am assuming you don't have enough cash by needing an investor. If your "investor" is going to act as your banker then you should be able to gather financial info enough to show if you can pay back borrowed money. In most cases it will require near 40% of your own funds down as I mentioned, then move forward when you have that loan commitment. If there is real estate involved the down could be much less, maybe 30%