Who would you recommend for insurance for a police station building. We are negotiating a lease and I want to make sure that I take the insurance into consideration.
Red Flag.
I have a friend that bought a gas station in Ontario CA and got screwed big time.
Same situation, the seller(s) had a broker, finance, accountants and the whole team assembled to make this happen. They have many gas stations.
The scam: They bought Gas and things for the Market for all the gas stations they owned under the name or account of the one they wanted to www.sell.This showed good inventory and volume. I wonder if these are the same guys.
To make this story short, my friend is now in BK. He hired a lawyer that drained him of what he had left of his savings.
Beware & good luck!
Well you gotta work with the data you can get.
Does the P&L seem reasonable? How does it compare with other similarly positioned stations?
The personal guarantee is worth something, especially if he will carry back a second note to back it up with.
Are you willing to buy based on your gut?
have you considered issuing an ultimatum and truly withdrawing your offer is the do x by date y?
Red Flag.
I have a friend that bought a gas station in Ontario CA and got screwed big time.
Same situation, the seller(s) had a broker, finance, accountants and the whole team assembled to make this happen. They have many gas stations.
The scam: They bought Gas and things for the Market for all the gas stations they owned under the name or account of the one they wanted to www.sell.This showed good inventory and volume. I wonder if these are the same guys.
To make this story short, my friend is now in BK. He hired a lawyer that drained him of what he had left of his savings.
Beware & good luck!
the unltimate you can issue is the loss of the deal.
driving by, and public records are good sources.
be aware of zoning and land use.