Monterey298sc
Recycles dryer sheets
- Joined
- Aug 3, 2018
- Messages
- 133
Self employed with 2 commercial office buildings . Been for sale for 1 year with many showings but no offers as of yet. Still operating the business because afraid to close business due to fixed costs to maintain both properties. We have about 200,000 in cash in the business now. That could go to cost to maintain if we close
We estimate about 70,000 a year in costs if we close . That has to come out of my retirement until sold. Buildings appraisal is 1.4 M for both. We just dropped price by 50,000 on each property. We have 3 M in liquid cash and about 700,000 in paid off personal property. We have No debt . Our own cost to live is about 100,000 per year. We are 62 and DW is 60. Still receiving income of 120,000 per year from our business. We are totally burned out. What to do? Huge dilemma . Big gamble to close.
Also No we can’t sell business, no market . We have tried for last 5 years. So we know we only have 1 path to liquidate.
We estimate about 70,000 a year in costs if we close . That has to come out of my retirement until sold. Buildings appraisal is 1.4 M for both. We just dropped price by 50,000 on each property. We have 3 M in liquid cash and about 700,000 in paid off personal property. We have No debt . Our own cost to live is about 100,000 per year. We are 62 and DW is 60. Still receiving income of 120,000 per year from our business. We are totally burned out. What to do? Huge dilemma . Big gamble to close.
Also No we can’t sell business, no market . We have tried for last 5 years. So we know we only have 1 path to liquidate.