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How to Finance the Acquisition of an Insurance Agency
How to Finance the Acquisition of an Insurance Agency
Hi Beau, I have an opportunity to buy an insurance agency. It is an independent agency, non-franchise. They want $600,000. I just signed an NDA and I’m getting their past 3 years of tax returns. I would like to get a set of eyes on the financials to make sure the DSCR is adequate for getting 80 to 90 percent financing for an SBA 7a.
I have experience in the insurance business but this is a little intimidating for me. It’s hard to know if I’m getting a good deal.
What are your suggestions for figuring this out?
Thanks a lot,
Josh
Timestamps
[00:46] Are you overpaying for the business?
[00:54] Beau’s advice on how to finance the acquisition of an insurance agency
[01:17] Which banks might be a good fit for this type of deal?
[01:23] “Spreading we spread”
[01:38] Helping you to see if the debt coverage of the cash flow will support the new loan amount
[02:37] The first step is not about you getting pre-qualified
[02:59] The issue is about having enough cash flow or is there enough projected cash flow that come in
[03:10] What is the easiest way of getting the right funding source?
[03:53] Importance of getting the right banker to work with you
[04:12] Book a call at http://bookwithbeau.com/
If you'd like to ask me a question about real estate, do it here -- https://investorfinancingpodcast.com/ask
Are you a real estate investor or business owner looking to expand? Book a discovery call with Beau to learn all the ways he can help you - https://investorfinancingpodcast.com/rumble
💥 Thanks for watching 💥
#businessacquisition #insuranceagency
_________________________________________________________________________________________________ About Beau: Beau Eckstein is a real estate entrepreneur, TV personality, and commercial mortgage advisor, specializing in construction financing and multi-family lending.
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🎥 The video interviews we do on IFP will help you scale your real estate business and learn how to finance your all your projects.
About the Channel: Want to structure your investments in the right and secure way?
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