So I was recently contacted by a Mini storage company that was looking to get out of the business. The business includes a few different lots and mini storage / sea can units. The company makes around 200k per year in gross revenue. They are asking around 1.4 million for the property and business. They will entertain a 1/2 seller financing but I am unsure on how this works, I have been following a lot of bp and never really heard how it works when only a portion is seller financed. the other issue is how much the bank will require being that it is technically a business not just real estate property.
Has anyone every gone through this before. Totally new to this one. I believe the valuation of the land and business is fair I just don't know how to go about getting 400,000$ for my down payment.
Any feedback would be awesome
Thanks in advance.