Landlords in a Heated Market with Jessica Fialkovich and Andrew Cagnetta

Transcript

Selling and purchasing a business cannot be done right without considering in detail who is the landlord, in which economic atmosphere you are and how are you going to negotiate the lease. Listen to this episode and get to know about great and not so great real business done by three awesome brokers from San Diego, Texas, and New York, who will share their success and failures while dealing with landlords and lease arrangements.

Today’s guests: Linnea Westlake (San Diego), Darrow Graham (Texas), and Eric Straus (New York)

Listing of the week: 22-year-old business in Fort Lauderdale. PDR. Dealing with several new car dealers. Owners benefit projected for this year: $165,000! Only at $300,000. Contact Randy Bring.

Key Takeaways

[:54] Landlords in a time of rising crisis.
[2:10] If you are going to sell your business you have to read your lease.
[3:20] The buyer will have to personally guarantee.
[4:33] Linnea Westlake from San Diego’s North Office
[4:55] Retail in San Diego.
[5:21] Who is the landlord?
[7:10] Sellers must have a strong lease or they don’t have much to sell.
[11:10] How do landlords look at the new owners of the business?
[12:51] Buyers: Cash is great but you have to be worthy of the lease.
[16:55] Listing of the week.
[19:12] Darrow Graham from Texas sharing about a deal that did not happen.
[24:32] Advice to business owners that are in a lease negotiation.
[26:07] Get a master lease.
[27:23] The deal of the week: Small business Great Deal.
[29:15] Eric Straus from NY: Landlords are nasty.
[30:36] Sellers need to be up to date with the rent.
[31:58] Read your leases before getting into them!

Tweetables

“Different types of landlords have different types of agendas.” #transworldbusinessadvisors #landlords

“Sellers must have a strong lease or they don’t have much to sell.” #transworldbusinessadvisors #stronglease

“When buying, cash is great, but you have to be worthy of the lease.” #transworldbusinessadvisors #lease #solvency

Mentioned in This Episode

• Transworld Business Advisors
• Transworld on LinkedIn
• Transworld on Facebook