BMW M3 Forum (E90 E92)

BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read


Go Back   M3Post - BMW M3 Forum > M3 (E90 / E92 / E93) > General M3 Forum (E90 + E92 + E93)
 
BPM Sport
Post Reply
 
Thread Tools Search this Thread
      05-21-2012, 04:40 PM   #23
sheaz
New Member
0
Rep
14
Posts

 
Drives: 530i
Join Date: Apr 2012
Location: Fort Lauderdale, FL

iTrader: (0)

As a CPA at a large firm....get everthing in writing so that you don't get surprised in the future. I would say, let the car go if it makes the deal work. You could also consider additional equity dollars to bridge the gap? Good luck!
Appreciate 0
      05-21-2012, 06:23 PM   #24
Darth One
Former yr 1of1 owner
Darth One's Avatar
United_States
11
Rep
1,109
Posts

 
Drives: SGM E90
Join Date: Jul 2008
Location: FL

iTrader: (0)

I would sell the car if I couldn't get good terms on a loan. it's hard enough for startups to survive without burdening them with a big drag on cash flow
Appreciate 0
      05-22-2012, 06:10 AM   #25
mjposner
Major
mjposner's Avatar
United_States
38
Rep
1,212
Posts

 
Drives: 2012 E93 M3
Join Date: Mar 2011
Location: US

iTrader: (2)

I am a real estate lawyer and I do not understand how you got yourself in this mess. Are you trying to do this without professionals? Signed a five year lease without written financing?

Many Banks will lend to small businesses, and you could pledge the condo as additional collateral. You say you have excellent credit, so get a 30k low interest loan on teh car from capital one, or go and join a local credit union.

If I can help, e-mail me at mjposner <a> warddamon.com
__________________
Previous BMW: 14 M235i, 11 BMW M3; 08 BMW M3; 08 BMW Z4M; 04 X3; 02 M3 Convertible; 02 M3; 00 M Roadster; 94 325 convertible; 85 635csi
My other ride: www.mjposner.com/corvair
Check out my Mountain retreat:www.blueridge-rental.com
My Car Photo Blog: http://carfisheye.blogspot.com/
Appreciate 0
      05-22-2012, 08:42 AM   #26
vzm3
Member
vzm3's Avatar
United_States
6
Rep
238
Posts

 
Drives: 2011 E90 M3
Join Date: Sep 2011
Location: Miami

iTrader: (1)

Quote:
Originally Posted by Scotch M3 View Post
In that case I wish you all the best and I truly will pray that your business sky rockets and you can get an M5 for your lovely wife.

I suggest go for ED (European Delivery) and enjoy a nice ride on AutoBahn and take your wife to Italy via Austria.

Good luck with everything. remember business will get you 10 more M5 so take your decision with sound mind.
Thank you very much for the positive message! ED would be super nice! I hope that we can make it thru this so that we can enjoy a trip like that soon!
Appreciate 0
      05-22-2012, 08:43 AM   #27
vzm3
Member
vzm3's Avatar
United_States
6
Rep
238
Posts

 
Drives: 2011 E90 M3
Join Date: Sep 2011
Location: Miami

iTrader: (1)

Quote:
Originally Posted by mjposner View Post
I am a real estate lawyer and I do not understand how you got yourself in this mess. Are you trying to do this without professionals? Signed a five year lease without written financing?

Many Banks will lend to small businesses, and you could pledge the condo as additional collateral. You say you have excellent credit, so get a 30k low interest loan on teh car from capital one, or go and join a local credit union.

If I can help, e-mail me at mjposner <a> warddamon.com
I am going to my local credit union to see what they can do for me, hopefully with title in hand on my car they are able to help out, thanks for the suggestion! I will keep your email handy as well
Appreciate 0
      05-22-2012, 08:48 AM   #28
kwike92
Lieutenant Colonel
kwike92's Avatar
United_States
28
Rep
1,584
Posts

 
Drives: 2009 m3 coupe | 2011 STi
Join Date: Feb 2010
Location: Mission Viejo, Ca

iTrader: (6)

.
__________________
2009 E92 M3- basic mods, future track car.
2011 Subaru STi daily driver- Stock, for now...
Appreciate 0
      05-22-2012, 10:23 AM   #29
mdosu
Banned
No_Country
118
Rep
8,517
Posts

 
Drives: Double Vanos'd Civic-M3
Join Date: Oct 2009
Location: San Francisco

iTrader: (6)

is a bank loan for the business out of the question?
Appreciate 0
      05-22-2012, 10:33 AM   #30
US///M3
Major
23
Rep
1,266
Posts

 
Drives: 1973 Jensen Interceptor
Join Date: Oct 2011
Location: Shanghai, People's Republic of China

iTrader: (0)

Quote:
Originally Posted by mdosu View Post
is a bank loan for the business out of the question?
"A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain." Mark Twain
__________________
BMW R1200RT
All purpose, No pretense.

I'm back.
Appreciate 0
      05-22-2012, 10:41 AM   #31
Alex@Autocouture
BimmerPost Supporting Vendor
Alex@Autocouture's Avatar
74
Rep
3,671
Posts


 
Drives: E30 M3, E92 Frozen GTS
Join Date: Jan 2010
Location: Ny

iTrader: (9)

Garage List
2011.75 E90 BMW M3  [3.83]
2011 bmw/ m3  [0.00]
sell the car and save the business, youll be thankful down the line
__________________
AUTOcouture Motoring | 15-01 Pollitt Drive St. 6, Fair Lawn NJ 07410
201.666.3500 | Alex@autocouturemotoring.com
Appreciate 0
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -5. The time now is 11:04 AM.




m3post
Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST