All Forum Posts by: Charlie MacPherson

Quote from @Andre Lemberg:

I've been using  Smarter Contact for over two years as a real estate wholesaler. I have a team of two who do texting campaigns and one who does cold calls. We’ve tried other platforms on the market, but the message delivery rates were very low compared to the 85%+ I get here. So usually, it's around 10-12 decent leads weekly from 3000-4000k of contacts we run. Plus, I use it as my CRM to keep all the info about clients, properties, and conversations in one place.

May God have mercy upon your soul.  Tell the FTC I said "hi".

Hi Nathan.  To clarify, I'm not selling anything.  I'm offering the opportunity to work as a business broker with me at Inbar Group, Inc.

The main obstacle for anybody considering this is that they have to have the means to get through the startup phase.  It's a lot like being a new real estate agent, except that we pay all of the expenses, except auto costs.

The conventional wisdom is that it takes 9 months until a new business broker gets paid on his first deal.  I'm looking to semi-retire, so I will hand this new person a bunch of my listings.  I expect someone to get a deal across the finish line a LOT faster than 9 months.

Right now, I have 19 businesses listed totaling over $32M and $1.6M in commission to me.  That is *IF* they all sell.  They won't.  But several will and for those that are actually under contract, I have $1.365M in commissions, as some of those are multi-million dollar sales.

So the opportunity is lucrative beyond anything I ever dreamed of.  It does take work though - and persistence.  I've been at this almost 5 years now.  I'll be 69 in March and I'm looking to slow down.

I hope that explains this better.

I run the Augusta, Maine office of Inbar Group, Inc - Business Brokers and M&A Services. Our HQ is in NYC with other offices in Upstate NY, NJ, PA (2), MA and CT.

I'm looking to semi-retire as I'm closing in on 69 years old, so I'm looking for a new person or two to come on board to service some (negotiable) parts of New England.

Normally, a new broker should expect about 9 months to the first commission check, but my plan is to hand this new person about 10 or so of my active listings to give them a jump start in the business.

You get a nice boost, I get to throttle back and relax a bit.

The successful candidate will have meaningful business experience. You should be able to read a tax return, P&L and Balance Sheet. You should be mid-level proficient with MSOffice.

Business owners, managers and entrepreneurs are all good candidates. Realtors *might* be, but while business brokering looks like real estate brokering from 1,000 feet away, it's a very different practice.  However, I don't expect any candidate to have business brokering experience, so we will train you from the ground up.

As a former Realtor, I spent a lot of time un-learning real estate as terms, processes, duties and procedures are all quite different.

The position is 100% commission, so you'll need a plan to get you through start up.

However, unlike being a Realtor, Inbar Group pays all marketing expenses. That includes thousands of postcards mailed to prospects each month, an outbound telemarketer whose job it is to fill your calendar with appointments and an admin person that is shared by our office.

BTW, the telemarketer is incentivized with a bonus whenever we close a sale, so she's motivated to send you on good, qualified appointments.  Again, that costs you nothing.

If you're relatively close to Augusta, you can use my office there (12 Shuman Ave, #10). We also have an available office in Portsmouth, NH. We will consider opening another office for you as well.  Otherwise you can work from home - and we'll provide a company cell phone too.

The only expense you have to cover is your vehicle and related expenses.

One key to success is to go out to meet the seller face-to-face, so plan on driving quite a bit. But if your trip results in a $1,000,000 listing and a $50,000 commission, is that worth driving for a few hours?

We charge sellers 10% of the sale price at closing and you'll make almost 50% of that.

A big advantage for business sellers in dealing with us is that we charge sellers nothing up front and no other fees aside of the 10% commission. I have heard of one competitor charging a $7,000 listing fee and another that sells the seller on a flashy analysis and PDF book - for $30,000 up front. We have no fee unless we're successful.

We sell almost any kind of business. Examples include local convenience stores, restaurants, trash haulers, motels, precast concrete companies, medical facilities, etc. We especially like distribution and manufacturing.

We avoid adult-related and marijuana-related businesses.

We've sold some really unique businesses too. For example, a company that makes elevator counter-weights. One that is a reptile wholesaler. A machine shop that makes caps for perfume bottles and one that makes furniture-leveling devices. I've even sold the company (FBO) that operates the Maine State Airport in Augusta!

Take a look at our website and you'll see what we have on the market right now. www.InbarGroup.com.

This is a very good time to get into the business as there is a glut of retiring baby boomers. They've spent decades building their businesses and many have never really thought about an exit plan. When we show them the way to retire with a pile of money, many are all too happy to sign a 12-month exclusive listing agreement with us.  Not to mention that lending rates are coming down as Prime Rate is finally coming down.

This can be a very, very lucrative opportunity with real life earnings in the mid to high 6-figures.

Interested? Give me a call on my business cell at 207-352-1000 or email [email protected] and let's chat.

Thanks, Tom.

Do you think that can be done retroactively?  Years after the first spouse signed?

Quote from @Jay Hinrichs:

well thats only the buyers attorney he/she is baised.. I would talk to a title officer unless of course your an attorney state then talk to another attorney who can look up case law.

That's exactly what I recommended to the family.  Have them actually run the title.  

The question I have is whether both spouses need to sign that easement.  I'm ASSUMING (a bad idea, I know) that they were a married couple and had joint ownership.  Is it still valid if only one spouse signed?

I'm trying to help a family member sell her house in Boothbay, Maine.  There was an offer that blew up because of a defect in a "view easement".  The buyer's attorney claimed that only one of the two spouses signed the easement.

There is a significant water view from their property, near the top of a hill.  If a builder were to construct a house in front of theirs, the view could be much less attractive.

Any ideas on how to proceed?

They seem like the textbook definition of time wasters and as an agent, time is your most precious resource.

Unless they want to pay you a strong hourly rate for submitting - and let's call them what they are - garbage offers, tell them to lose your number.

I run the Augusta, Maine office of Inbar Group, Inc - Business Brokers and M&A Services.  Our HQ is in NYC with other offices in Upstate NY, NJ, PA (2), MA and CT.  We're expanding into Ohio soon.

I'm looking to semi-retire as I'm closing in on 69 years old, so I'm looking for a new person or two to come on board to service some (negotiable) parts of New England. 

Normally, a new broker should expect about 9 months to the first commission check, but my plan is to hand this new person about 10 or so of my active listings to give them a jump start in the business.  You get a nice boost, I get to throttle back and relax a bit.

The successful candidate will have meaningful business experience.  You should be able to read a tax return, P&L and Balance Sheet.  You should be mid-level proficient with MSOffice.

Business owners, managers and entrepreneurs are all good candidates.  Realtors *might* be, but while business brokering looks like real estate brokering from 1,000 feet away, it's a very different practice. 

As a former Realtor, I spent a lot of time un-learning real estate as terms, processes, duties and procedures are all quite different. 

I don't expect any candidate to have business brokering experience, so we will train you from the ground up.

The position is 100% commission, so you'll need a plan to get you through start up.  However, the company pays all marketing expenses.  That includes thousands of postcards mailed to prospects each month, an outbound telemarketer whose job it is to fill your calendar with appointments and an admin person that is shared by our office. 

BTW, the telemarketer is incentivized with a bonus whenever we close a sale, so he's motivated to send you on good, qualified appointments.

If you're relatively close to Augusta, you can use our office there (12 Shuman Ave, #10).  We also have an available office in Portsmouth, NH.  Otherwise you can work from home - and we'll provide a company cell phone too.

The only expense you have to cover is your vehicle and related expenses.  One key to success is to go out to meet the seller face-to-face, so plan on driving quite a bit.  But if your trip results in a $500,000 listing and a $25,000 commission, is that worth driving for a few hours?

We charge sellers 10% of the sale price at closing and you'll make about 50% of that.  A big advantage of dealing with us is that we charge sellers nothing up front and no other fees aside of the 10% commission.  I have heard of one competitor charging a $7,000 listing fee and another that sells the seller on a flashy analysis and PDF book - for $30,000 up front.  We have no fee unless we're successful.

We sell almost any kind of business.  Examples include local convenience stores, restaurants, trash haulers, motels, precast concrete companies, medical facilities, etc.  We especially like distribution and manufacturing.  We avoid adult-related businesses. 

We've sold some really unique businesses too.  For example, a company that makes elevator counter-weights.  One that is a reptile wholesaler.  A machine shop that makes caps for perfume bottles and one that makes furniture-leveling devices.  I've even sold the company (FBO) that operates the Maine State Airport in Augusta! 

Take a look at our website and you'll see what we have on the market right now. www.InbarGroup.com.

This is a very good time to get into the business as there is a glut of retiring baby boomers.  They've spent decades building their businesses and many have never really thought about an exit plan.  When we show them the way to retire with a pile of money, many are all too happy to sign a 12-month exclusive listing agreement with us.

This can be a very, very lucrative opportunity with real life earnings in the mid to high 6-figures.  

Interested?  Give me a call on my business cell at 207-352-1000 or email [email protected] and let's chat.

I'm in a different market (selling businesses, not houses).  We send out about 5,000 postcards each month.  The overwhelming majority get tossed in the trash, but some get put in the desk drawer.  And they sit there, reminding the prospect about us every time they open it.

I completed a $5M sale of a company about 3 months ago.  On my first in person meeting with the seller, he came in carrying a postcard that he received 3 years ago!

The commission on that one sale covered a LOT of future postcards.

I think the keys to success with postcards is that you need to get the prospect's attention so quickly that he gets the drift as he's picking the postcard up to trash it.  Then, repetitive mailings.  I hit a list of targets once per quarter.

That's a lot of mail, but in my situation, it works well.

Most businesses under $5M are funded via Small Business Administration (SBA) loans.  There are two loan types that are normally used:

7a - can be used for all parts of the transaction. Terms are Prime + 2%, 10 year term.
504 - For bricks & mortar only.  Prime -2%, 25 year term.
Both require a 10% down payment. 

Some lenders will offer a blend of the two with something like a 14 year term.

If a lender asks for more, they're imposing additional restrictions over and above what SBA requires.  That's usually because they're not selling their loan on the secondary market.  The same goes if they're requiring the seller to hold a note.  In either case, I'd look for another lender.

If you're going to buy a restaurant, SBA will require a resume with meaningful restaurant experience.  Lenders are most picky about restaurants because they are really easy to kill.

The lender doesn't require the restaurant to be owner-operated, but they'll need proof that your management staff has a robust resume in the field as well.

I'm not sure what you mean by an "arm's length" transaction.

I hope that helps.