A buyer acquires a $12 million business with $5 million down and a $7 million owner-carry loan over two years. The seller, who ran it as a personal paycheck, gets to retire and fish while the buyer transforms it into a real commercial operation.
Are you in the deal room? The problem really is too, is that he's been using it as a paycheck. So therefore it's not truly a commercial business as much as it has been a sole proprietorship. The nice thing is, is that with or without him there, it'll operate. So that part of it's good, but on paper and the reason why we're having to be creative. Now here's the other part. I'm doing a— I'm buying it for $12 million. I'm only giving him $5 million to get it. And then he's going to do an owner carry on $7 million. So he just needs it. Like I I said, the problem is that he wants to go fishing. I can just give him $5 million, he's going to go fishing, and then I got 2 years to pay him off the $7 million. So, and with the plans that we got for the place, the ability to get to that $12 million mark will be very, very doable. Very, very doable, right? So that's the other side of it.
