Buy a business to create cashflow

Yes, we are getting multiple offers of interest for our 2nd brand now

 

Amazon is super difficult so well done!!! I gave up when I started reading about the super control by Amazon, at the end of the day they can do whatever they want and I didn`t feel I was going to be comfortable with that setup. I think there are not many successful stories and again it is definitely not easy so super well done!!!

 

Major achievement @GoldCoastBound! I'm from a hardcore IT background and even I found navigating the Amazon process not exactly easy. Couple that with the deliberate dictatorial control, intentionally and inherently difficult process to list an item - I too gave up like @Luca did.

 

thanks guys, yes it has been very difficult for sure, but fortunately after 7 years we have the experience & confidence i suppose, to know we can build brands to 7 figures pretty quick & sell them

 

What are the long term plans for companies like thrasio?
I imagine they have teams of people managing the listings including VA's?
Do you think we are going to see a lot more of this?

 

We are already seeing a lot more of this...multiple companies copying what they did...they are very well organised and have grown very fast in 2 years

 

hi Lindsay, if the bank won’t take the income as servicing for two years, then how do they treat the debt that may exist? And do they treat this scenario the same if it’s a cash flow +ve Limited company or a cash flow positive trust?

 

@Lindsay_W

 

They would treat the debt the same as any other debt in your name, they will not exclude the debt.
Is this something you're actually looking to do or just hypothetical?

 

@Baysie

 

hypothetical. But if I buy a positively geared property in a trust or company then the bank wouldn’t accept the rental income for servicing for a period of 2 years? Seems harsh as the debt on the property would ruin any serviceability

 

No my responses were based on buying a business to create cash flow/improve serviceability - nothing about buying an investment property in a company or trust name... Completely different scenario and treatment.

You can buy an investment property in company or trust and the rental income will be used towards serviceability even if the company or trust is newly created - typically in that scenario the company/trust is just holding the property and not an actual trading business.

 

Any updates on Sell Your Amazon FBA Business | Thrasio GoldCoast???

 

I have clients who are bakers by trade and started a bakery, selected a good location with lots of foot trafick, built it up over a 2 year period then sold for a small fortune and repurchase the same business a year later for less than half and rinsed and repeated.

Starting a business or purchasing one (be careful you rent buying a job) can be rewarding personally and also lucrative. The stats don't support a huge amount of successes, so give yourself a period of grace to get up and running if you are starting out from scratch. I started my finance biz 12 years ago and the first 2 years was mostly learning and not much profit

 

I have seen that a few times, It shows how important to success is the dedication and drive to succeed. Inevitably the ones who fail think they are buying a job.

Perhaps the best example is after Kerry Packer sold the 9 network to Alan Bond for over one billion then bought it back three years later for 250 million. Packer said "You only get one Alan Bond in your lifetime".

 

KP has some incredibly witty and insite full quotes, that been one of them, cheers.

 

What sort of updates?...all i know is they are buying more businesses monthly even faster & it sounds like they will list on the NYSE as well