All Forum Posts by: Nimster Win

Hi,

 I was not clear in my first message. I have 350,000 in my savings and lost my job due to family emergency. Now I am in San Diego and am interested in purchasing a cafe which serves unique Kina Hawaiian coffee . Its been established since 2009 and was sold in 2016 to 2 friends and they are having issues and fights and want to sell. The gross was 480,000 2017 and net of 80,000 with owner working 25 hours and no advertising and 7 part time employees. 

They are asking 250,000 with rent being 5,000 a month till 2024 and anther 5 year option at market rate at that time . I owned a couple catering business and have experience and will eliminate a couple employees and should net 10,000 a month . 

Is this a good investment as it will take 2 years to get money back plus always issues like AC, repairs and stuff. Its a great area surrounded by million dollar condos, and convention center and tourists . Thanks 

I am also about to pass my real estate exam and want to purchase a couple properties and rent. But this may be a long term solution.

Hi,

 I Live in San Diego CA and have inherited 350,000 after taxes . I lost my job after going home to take care of my ailing dad who passed away . I sold his my share in business in India and moved back here. There is a cafe that makes 480,000 a year in a prime location and the owner nets 80,000 a year and works only 20 hours a week. The asking price was 275,000 and I bought it down to 250,000. Is this a good price as most cafes sell 2-3 times net?? Or should I invest in the stock market in Amazon, Netflix, Boeing and a couple others . Thanks ( Also have $5000 a months that will come from salary from a business in India . Thanks