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I’m looking at a used car lot in vegas for 600,000. It does 1.8M year in sales, owner profit over 250K. Sale comes with real estate valued at 400,000. The owner will even finance 50% at 8% amortized over 20 years. I have maybe 30,000 in equity in my own home. Could I get this? Can I use the real estate from the dealership as collateral? What banks would u suggest? Thank you

Remember that there are no such things as small business loans. Check my article linked below. Banks call them small business loan but the reality is that they only lend to major corporations or to individuals. that means that any loan you get is going to get will have to be guaranteed by you personally. Also, Vegas has the highest unemployment in the nation and real estate prices there are among the worst in the country. You will be hard pressed to get a loan. You really need to get the property evaluated by your own appraiser. Likely that the property isn’t worth what it was last week. Also, I find that most business owners play fast and loose with the books when they are selling a business. So you want to look at both business and personal tax returns for the owner for the last 5 years to see what their trend is. Used cars sell better than new right now but you have to have a job to buy a car and lots of people in Vegas don’t have jobs.