Purchasing a car wash..

[Brian King]

I am going to meet with an owed of a car wash tomorrow.  We are going to go over numbers and his asking price.  He is willing to owner finance will a partial down payment.  I do respect this man although I don't know him well enough to trust him, and I think a car wash would be an easy business to manipulate.  Go put eight or ten dollars in quarters in it a day and it would show a nice profit to potential buyers.  What kind of terms should I ask for in the contract?  Should I ask for a 3 month provisional period before I give him the whole down payment?  I am looking to somehow protect myself while making it lucrative for him as well..

[Bradley Bogdan]

Does the person selling the car wash drive a Pontiac Aztec? If so, the numbers may be more manipulated than you think... :-P