It was another interesting week. I've spent the last 10 days analyzing our financials to death. Shawn and I have tweaked just about every number on the cash flow at least once, as we try and come up with the most accurate report possible. I think we have a great plan with some ambitious goals set. Although after sleeping on it, I can already see a couple changes that should be made. The next step will be to transfer the numbers from the cash flow to the rest of the financials, business plan, marketing plan, operating plan, etc. Fun. I’m really wishing I had logged my hours working on this thing.
We also sent an email to the current owners with our offer to purchase. After requesting some more details on the offer, we haven’t heard from them. I’m hoping today we hear something. If they agree to our price, we’ll be able to submit our business plan to the financial institute, as well as find a lawyer to start writing up a more official agreement.
Apparently it can take the financial institution 6 weeks to approve/deny a loan, so I guess we will still have some waiting to do. If approved, we will then need to have the land surveyed, inspected and appraised. We will also have a few municipal questions to get answered to clarify their laws on fires and water systems. I would love to be in this place by the end of the year.
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