All Forum Posts by: Andrea Beard

I'm assisting a contact who’s looking for a short-term, 12-16 months, non-conventional loan to fund a high-end construction project in The Woodlands, TX—one of the most desirable areas, as noted by Forbes. They’re developing six to nine multi-million dollar homes and need around $2 million to bridge the gap until the next funding draw, as conventional lenders won’t fund it without hard assets to secure. Does anyone know of any private, mom-and-pop, or non-traditional lenders open to projects of this type?

 Thank you for your post and feedback.  I will take all of this into consideration when I am being trained by my mentor.  He has already wholesaled several businesses this past year and probably already has processes to overcome many of these obstacles. I'll keep this group posted on my progress.  

@Lucia Rushton Thank you for commenting on my post. I have considered being a business broker, however wholesaling businesses, like wholesaling houses isn't as time consuming as being a business broker. I have a mentor that has been wholesaling businesses for over a year. He has leads, gets the business under contract, after doing his due diligence, finds an end buyer and assigns the contract to them. He has already established a buyers list, just like wholesalers do when wholesaling SFH. The average wholesale fee is $100k and average transaction time is 90-120 days. I just wanted to see if any one else had any nuggets to offer.

Has anyone done any small to medium sized business wholesaling? The SFH wholesaling market seems to be saturated at the moment with wholesalers. I was told by a mentor of mine to look in to wholesaling businesses. The baby boomers and Gen X'ers are all 50 years old and older. Many of them own small to medium sized businesses and they are going to want to retire soon. In many cases their kids don't want the business. Also, SBA is about to change the parameters on buying a small business, where you can get in for only 10% down. (that's for another post) So rather than shut the business down or lose it all together we, wholesalers can come in and find someone to buy it and make some money. With that said, does Bigger Pockets have any type of business calculator to help analyze this type of deal? If not, does anyone know of any sites or software that can help with this? Thank you for your time.