If you're buying an existing business, ALWAYS-ALWAYS-ALWAYS check the financial records. Ask to see the books. Ask to see copies of quarterly tax returns as well as the owner's income tax return.

Continue reading "A Lesson Learned from Hard Experience" »

Posted by Kit Cassingham at 06:00 AM | Comments (0)

From "Ask Kit!":
Q: My husband and I have recently purchased a home for intentions to rent it out. however this home is so unique we are now discussing other possibilities. one of which is a b&b.The only setback is its size. there could only be 3 bedrooms. my question is: Is that too small? And does someone have to live on site? This house is located in a small town with not a whole lot of traffic or attraction. The house itself would be the biggest attraction. Should I give up any thoughts of turning this into a Bed and Breakfast? Any advice would be appreciated.

Continue reading "Unique Home -- Would that be a good B&B property?" »

Posted by Kit Cassingham at 06:00 AM | Comments (0)

I regularly hear about B&B buyers who are so pleased with their B&B purchase they are almost gloating. I’m all for a buyer getting their B&B for a good price, as long as they don’t make the seller feel as if they are being robbed. A seller who feels robbed will make life and the transaction unpleasant fo the buyer. When that happens the good deal quits being a good deal.

Continue reading "A Steal of a Deal" »

Posted by Kit Cassingham at 06:00 AM | Comments (3)

From "Ask Kit!":
Q: A B&B we are looking at that's for sale, but not listed with a realtor, seems priced high. And the owner has told me that they have not really been trying to market or book the property. How do I present them with an offer at considerably lower price without insulting them?

Continue reading "Making A Low-ball Offer" »

Posted by Kit Cassingham at 06:00 AM | Comments (0)