Liquor Store Purchase (buying out the other 50% partner) which was a relative and they had two different ideas of how to run the business. The business had only been open two years. We were able to use the money he had originally put into the business as the equity. The buyer did not own a home.
We were able to secure a bank loan for $150K with an interest rate of 6% variable for 10 years.
|$150,000 Loan Amount||6% Variable Interest Rate|
|10-Year Term||24-Hour Approval|