So I've been looking into this for a little while now. I was curious have you used flippa before? If you have did you have a good or bad experience with it? Thanks.
I've seen many businesses fail, not because the idea wasn't good, or that the business wasn't successful, but because the owner used the business as their own personal bank and personally lived off the cash flow (and not the profits). The best example that I can personally think of is home building (where I have lots of personal experience). Many people think they can be successful building homes, but they almost ALL fail. They get construction loans and start paying themselves rather than building the house properly and living off the profits from the company itself. Before you know it, they are dipping into the cash flow of the company as new loans come in and houses sell, but never tracking the outflow of cash. Before you know it, the house of cards crumbles and they are left broke.
Which part of his post are you looking into? Also, bars are dumb. They fail. But... how hard is it to open one and lose 5-6k/yr? I'd totally open a bar to call my own if it only cost me $5,000/yr. Preferably, I'd like to own the property, not rent, like Grand Prize Bar. They own that or lease it?
I've been researching the smart passive income and the adsense flipper guys. I came across flippa.com from listening to the adsense flipper podcast.
Unless it's a prime property and being offered to you at a significant bargain, why would you want to buy it? You would turn a bad business into a terrible business.
