All Forum Posts by: Mohammed Azam

Need some help from the experts here in trying to figure out how best to structure my new business venture.  I know there is a creative solution here somewhere, I just have not quite cracked it yet but I know it must be possible with $25,000 total cash investment.  I do know potential investors, trying to figure out what part of this deal and how they can invest and the terms.  I am also able to get financing in the form of a mortgage or other lending.  Here is my situation, any advice is appreciated!

I am able to invest $25,000 and I wish to start a used car business.  I have located a car lot which I can purchase around $100K and needs about $60K in improvements so a total investment of $160K for the property.  Start up costs for the business (dealership license, dealer auction registration fees, signage, rent/mortgage reserve for the first few slow months) should be about $10K to $15K.  Dealership vehicle inventory will be covered through special dealership only financing program meant for car dealerships vehicle inventory, so that is covered and I will not likely need any other funds to get my dealership up and running and making money.  I don't believe I can swing the down payment for the property purchase AND the start up business costs so I will likely need to get investment help or some financing.  Any advice on what you would do here?

Hello, I am starting a used car business and will need a car lot with a building first before my state (Pennsylvania) will grant the dealership license.  Therefore I do not have the minimum 2 year established business history which some loans that offer a low down payment may require.  I know I can mortgage the property under my personal name with 25%+ down payment but I want to keep the down payment down so I have more funds to operate my business.  Any suggestions on what type of loan I can do with less down payment?  Thanks in advance for your suggestions.