Am looking for feedback from people who bought from a broker and how they found it when they operated it.

I like the idea of buying an existing business with a proven track record in the $250,000 to $500,000 range which I could afford.

Also if you can get an SBA loan around 8% and the business is doing 20-30% returns you’ve found a winning formula.

I’ve been listening to a few podcasts (My First Million) where the entrepreneur keeps rolling his profits over into obtaining the 25% deposits to fund another SBA backed online business and has a portfolio of 8-10 businesses that could be wrapped up by a larger company for a 10x on the initial deposits.

Am wondering how difficult it is to take over an existing business and run with it. For some reason it smells a bit scammy to me but a lot of these brokers have very good feedback.

If anyone here has done anything similar could you please share your story?