Honestly I love all your content, but this I think is the best video I've seen yet simply because you talk about deception in numbers which I'd like to learn more about
When using a bank loan of any kind, are you able to put them in 1st lien position and then use seller financing for the rest of the purchase price as a 2nd lien position?
Yes Matt. Whoever gets the loan done first is in first position. If you close a bank loan and then later get seller financing the bank is in first position and the seller is in second. You could also close with seller financing and have a subordination clause in the seller financing agreement that would allow you to later get a bank loan that would be in first position and put the seller financing in second.
The first step is to get 100% clear on exactly what you are looking for. Determine what industry, what size in terms of sales and employees, what amount of profit and how many customers the business should already be serving. Then let everyone know what you are looking for. Put it in your email signature, post it on your social media channels, tell everyone you meet. You would be amazed at how well and how fast doing those simple steps will start deal flow coming your way. In my trainings we review over 150 different sources of deals, but these three will get you started right away!
Honestly I love all your content, but this I think is the best video I've seen yet simply because you talk about deception in numbers which I'd like to learn more about
Thank you Clay!
Yea this was very detailed for sure.
🙏😄
It really is man.
Love these deal breakdowns!
Thanks Evan!
When using a bank loan of any kind, are you able to put them in 1st lien position and then use seller financing for the rest of the purchase price as a 2nd lien position?
Yes Matt. Whoever gets the loan done first is in first position. If you close a bank loan and then later get seller financing the bank is in first position and the seller is in second. You could also close with seller financing and have a subordination clause in the seller financing agreement that would allow you to later get a bank loan that would be in first position and put the seller financing in second.
I'm looking for businesses in Maine and New England.
The first step is to get 100% clear on exactly what you are looking for. Determine what industry, what size in terms of sales and employees, what amount of profit and how many customers the business should already be serving. Then let everyone know what you are looking for. Put it in your email signature, post it on your social media channels, tell everyone you meet. You would be amazed at how well and how fast doing those simple steps will start deal flow coming your way. In my trainings we review over 150 different sources of deals, but these three will get you started right away!