Thanks in advance for any advice, suggestions and comments!

I am considering purchasing a coin laundry business. It's been established 20 years and owned the last 7 by the current owner. He wants $375k. Grosses $200K and nets $95k as an absentee owner. It has 2 more years on the current lease and a 10 year option. I have $60k liquid, $45k I can get in 5 days if I sell some stocks and access to $40k from my 401k at my fulltime employment.

He owns 3 other coin laundry stores and is selling to move across the state and retire. No, he won't consider seller financing. He has provided me with financials for the past 3 years. I have great credit and when I bought my house last September my fico was 780.

What are my financing options?

Thanks,
David

Hello!
First you need to ask the owner is a enviornmentl repot has been done on the property due to it being a laundy facitility (chemincals) If that works out good, then you need to get a aquisition loan for the purchase on the real estate or withinout the real estate. there are many types of loans that can handle your request from conventional, to aquisition, to sba financing. Let me know if you need any financing assistance. Good Luck