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More than a decade ago, Tim Delaney bought his first small business, a fifty-year-old wine and liquor store in Buffalo, NY, with almost no experience and very little cash down. Today he owns that store and the plaza it sits in, and he helps other people do the same.
In this episode, Tim joins Chris to break down exactly how he structured those two deals, including negotiating 90% seller financing down to a 4% interest rate, and how he used one business as leverage to fund a $120,000 roof replacement on the other. They also dig into why an estimated 5 to 10 million small businesses will change hands or close in the US over the next five years, and what that wave of retiring baby boomer owners means if you're looking to buy.
Tim is the host of the Business Buying for Financial Independence podcast.
Take his free Buyer's Profile quiz at powerofbiz.com/nextlevelincome.
Get your free copy of How To Be Financially Free By Forty at nextlevelincome.com/financialfreedombook, or book a call with our team
at meetings.hubspot.com/ccampbell28.
