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Updated about 2 years ago,
How many ways to approach this?
I want to hear any creative, out of the box, or even wacky ideas of how to offer value and take over someone's business who wants to retire.
Let's say you have a couple of family friends that want to sell their business and retire. You don't have the money to buy it and they won't be able to sell it in this current market for the price they want. It is a simple business that just rents out yard space and office space to different commercial tenants so you are willing and capable to take over operations and try to develop the business further.
If your aim was to get experience, earn goodwill, make a little money, take all burden off of them (so they can mentally retire), and one day buy the whole business from them...
1. What would you propose to them to get your foot in the door?
2. How could any type of mutually beneficial setup be accomplished?
3. Any creative avenues to explore or things you have done/seen in the past that could be applicable in this situation?
Not sure if this is enough info to go off of but trying to keep it short and not ramble on needlessly. If you want to see the specifics of this exact situation, it is at the link below. Thank you!!
https://www.biggerpockets.com/forums/32/topics/1070617-prepping-for-my-first-pitch-to-investors