what would be the price you would pay for a coporation all ready set up and a line of credit of say 500,000.00 you could use to do deals with all ready in place and you could start useing it within 30 days of buying it and after one year of useing it you could get the credit line increased what price would you pay for this type of deal ?? :o
I would do my homework here. A corp only costs a few hundred dollars to setup so thee is little value in the existing corp other than its longevity. The existing line of credit may have some value but only assuming the terms will not change with the change in ownership of the corp. Does the current owner have a personal guarantee on the LOC, are there covenents in the LOC documents requiring certain expertise, management or other items that you cannot provide. Read everything before you proceed. Don’t be mesmerized by a $500k LOC.
a friend of mine got one of these and he could not be happier with things he has bought three apt . complexs and two houses he rents one and lives in the other
and the only thing was the price and then he has a credit line now through the coporation of 1 mill and he just has to send the deals through a approval person and if all the #s look god and it will make money then they put the money for him in a bank account the title company names and he goes to closing it has made him very well off in the real estate game
any one wantting to know what he payed i could tell them message as i dont want or think it should be out in the open on the fourm the price