Brian, enjoyed your info. Thanks.

Bill Roberts

Thank you for the info. I currently have three former service stations listed. Two for sale and one for lease. What type of financing can you put together for a property of this type? If you do not lend on these do you know who does?

We could do a sale and do a 90 LTV purchase....you might at well have the property pre-approved for a 90% transaction. To do this, I'll need to review the seller's:

1) last two years tax returns on the business

2) P&L's (dec-jan) for the past two calender years

3) Balance sheets for the past two years.

It's also helpful to know if they'd being willing to carry a 2nd if we do conventional financing...Please call me and I'll tell you more on how having the property itself underwritten will comfort your borrower and speed your transaction up considerably.

Thanks,

Brian 281-852-9422

Problem is the owner only leased the property and never occupied it. Numbers are not available at all.

Been there, done that. We treat the business as a start up and go off 24 month business projections. Additionally, we can gain information by looking at the existing inventory we are buying....is the gas station in a major metro area? If so, we should be fine...the rural ones are difficult to get accurate projections/proformas.

Bring it on! We'll close it provided we have a good borrower with experience in the industry...only 5% of his down payment has to be his own money -- he could get the other 5 as a gift.