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GAS STATION FOR SALE, AGENT IS THE OWNER! RARE OPPORTUNITY!!!
Description : 11 Apr, 2023
GUARANTEED PROFITABLE BUSINESS!
CONSIDER the following CAREFULLY, NOTHING IS GUARANTEED IF YOU ARE NOT DOING DUE DILIGENCE? Make sure you are not RISKING your entire life saving by TRUSTING untrustworthy?
CHECK CREDIBILITY AND PROFESSIONALISM OF THE REAL ESTATE AGENT YOU ARE DEALING:
a- Ask around form the other people in the Gas Station business.
b- MAKE SURE, if your agent, or pany is not the OWNER of the gas station your are buying.
c- ALWAYS go an extra step to find out how is the BUILDER/INVESTOR of the gas station you are intending to buy.
d- RECO has made a publicly available list of decisions and disciplinary actions taken against Realtors. Search Realtor's Name in that list, CLICK on the web site below and search: Also, GOOGLE name of the agent followed by RECO, agents name e up with punishment details. Example, ; XYZ RECO;
WHY BUY GAS STATION WITH HISTORY OF SALES?
a- Give first consideration to the seller who is running a gas station for FEW YEARS, in this case the seller will have a history of sales. Rely on POS reports and fuel suppliers gas VOLUME reports.
b- CAREFUL buying RENOVATED GAS STATION; in most cases investors buy close down/run down gas stations at very low cost and then they do renovations and sell them at very high cost. YOUR RISK is that you are buying a gas station which has NO HISTORY of sales and all the SALES numbers presented to you are based upon the investor/agent/accountant PROJECTED SALES, which are not even close to REALTY, and MADE UP to justify the high asking price of gas station.
THINK, in most cases who would CLOSE DOWN a profitable gas station, gas stations are ONLY closed down when they are NOT PROFITABLE as any other business. IMAGINE, someone buys CLOSED DOWN gas stations, does some RENOVATIONS and sell it to you for 2 to 3 million dollars by making up PROJECTED sales figures??? IF YOU FALL IN THIS TRAP, ASK YOURSELF A QUESTION HOW WOULD YOU SURVIVE?
THIS IS A GOING BUSINESS???
c- CAREFUL buying a BRAND-NEW GAS STATION, because they are also sold on PROJECTED SALES numbers MADE UP to justify HIGH asking price of gas station.
THESE DAY BANK INTEREST RATES ARE VERY LOW, DO YOUR CALCULATION WHEN THEY GO BACK AS IN PREVIOUS YEARS, WHAT IS LEFT TO YOU AFTER MORTGAGE???
2- Choose CAREFULLY mercial agent you are considering to buy a gas station. When you are choosing mercial agent for your purchase consider following factors:
LISTING AGENT
Make sure you are buying Gas Station from the Realtor authorized by the seller, in other words who is a LISTING AGENT. if you are buying from the listing agent then you may be paying LESS MONEY than buying from a secondary Realtor, or Realtors. In most cases multiple Realtors are selling the same Gas Station but at different prices. Price of gas stations keeps adding up since MULTIPLE AGENTS are involved.
CAP RATE
CAREFUL buying a gas station less than 10% CAP Rate ( Rate on investment, 10 thousand net operating e for every 100 thousand), if you are less than 10% it will be tough to pay a mortgage especially when slow es in your business for any reason.
YOU may hear a lot these days 10% CAP RATE IS NOT POSSIBLE, then CAREFUL buying that business. BETTER SAFE THAN SORRY
ALSO CAREFUL, if you are offered more then 10% CAP RATE especially in larger cities, because GENUINE deals in GAS STATIONS do e with more than 10% CAP RATE, due to higher real estate value in larger cities.
There is a category of business people, which has money, they will buy a gas station with hardly making enough profit to pay their mortgage and hold that gas station for few months and then put in market for sale same gas station with with few hundred thousand more. This category of business people, or their agents use their purchase price as SELLING TOOL saying; they will not sell it less than their PURCHASE PRICE. Keep in mind REAL PURCHASE PRICE can be manipulated by using various unhealthy tricks.
IF YOU ARE INTERESTED IN ANY GAS STATION, THEN ALWAYS CHECK WITH OTHER REALTORS ABOUT THE SAME GAS STATION THEY MAY GIVE YOU SOME DETAILS WHICH YOU MAY NOT KNOW, WHICH MAY HELP YOU TO MAKE AN INFORMED DECISIONS.
These are a few factors to consider in order to make an informed decision, but there are a lot more depending upon your situation.
HOPE YOU FIND IT HELPFUL, SHARE WITH FRIENDS, YOU MAY SAVE SOMEONE GOING BANKRUPT.
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