I came across the following items. I really could use help trying to figure out what to do with them:
1] Gold & Silver Mine
Asking Price: $20,000,000
Gross Revenue: $65,000,000
Cash Flow: $50,000,000
2] RICH AND ABUNDANT GOLD MINE
Asking Price: $40,000,000
Gross Revenue: $50,000,000
Cash Flow: $45,000,000
3] RICH GOLD MINE
Asking Price: $25,000,000
Gross Revenue: $478,800,000
Cash Flow: $60,000,000
4] Gold & Silver Mine
Asking Price: $7,000,000
Gross Revenue: $50,000,000
Cash Flow: $43,000,000
5] VERY RICH PLACER GOLD MINE ( 80 ACRES )
Seller Financing Available!
Asking Price: $80,000,000
Gross Revenue: $90,000,000
Cash Flow: $85,000,000
I don't mind giving most of what is made off of one, to help make something of it, so that I can work through the others. Besides the mine, this could be a huge new construction deal, making mining towns, and working to be able to make the towns be able to stand, independent of the mines. I think wholesaling them [maybe the ones without seller financing, to get those with?] would be the best, but I don't know how to go about it with items this big. Any help?
I think you've inadvertently stepped into some BS here.
Other than the fact that they are "mines" which has enough red flags, no one would ever sell any asset/business for less than annual "cash flow", let alone less than half.
Wayne is correct, Eddie. I have dealt in this world of mines before and most of them r BS and the ones that do close take a very long time. If you are not on the inside or setting at the table with the main players it's normally a loss precious time (yours).
So you found these "mines" listed on bizquest.com (already available for the entire world to see) and figured you could just get them under contract and wholesale them to some random guy who has $20M laying around? If they were worth the asking price someone in the industry would have already bought them. From the listings online it's just mining rights to a pieces of dirt in Arizona that may or may not have a profitable amount of gold/silver buried there that would cost millions to try to extract.
Agree with @Wayne Brooks : these mines are BOGUS and what you'll get is like BS not gold.
Also, @Patrick L. is also correct - you have to provide a better deal than what others can get it for. If you want to wholesale these mines - assuming they are legit (most likely they are not), what you have to do is contact whoever posted these deals and do 2 things:
1. Negotiate to buy them at a LOWER price than what they have listed them for; and
2. Have an agreement in writing that you will buy these mines contingent to your due diligence. Then you look for a buyer. That's how you wholesale. You provide VALUE to your buyer by getting a price lower than the list and you still sell it lower than list price. For example, a mine is for sale for $7M. Get it for $4M and sell it for $5M. You give your buyer a $2M discount for dealing with you.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.