We negotiated an owner carry lease option agreement for the property (with the help of a lawyer).The basic terms are:·Lease period of 5 years·All lease payments from years 4-5 will be applied to the down payment·10% down (due after lease period)·4% fixed interest rate·Loan is due 15 years after lease (payments are calculated using a 40 year amortization)·The purchase price of the property will be based on independent appraisal(s) in 5 years, not below 750k, and not exceeding 950k.The business is doing far better than expected, and we are now looking for a second school to handle the overflow.

You might be able to pull some cash out and get an owner to carry a note on property they wish to sell.

The extra income is generated by the tax deductions that carry forward for five years, generating much larger tax returns or much lower tax bills.This is not Star Trek, but it is a real deal.

One look @Stephen S. is enough to convince me to carry an Ares Companion, MP5K in operational briefcase, and .38 caliber cane gun:)

The bank doesn't take it away from you, but since there are carrying costs it's cash flow negative.

Showings are part of the business to negotiate a contract, minors can't contract nor do they carry any legal standing in the business to be conducted, so yes, you can shoot yourself in the foot and say no minors until a lease has been executed.

But in this case I am burning time because I would have to save for a few years to carry out another deal.

A simple strategy is to ask them to carry back 20% or so.  

Beyond that my plan is to carry the right insurance to cover my investments.But I am right behind Matthew on this one.

Then, I'd explain that I purchase at deep discounts, so there is equity to minimize the default risk, and I'd explain that the lender has a Deed of Trust, just like a bank carries a mortgage."