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Author: JLC Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75636  
Subject: Taking on Debt Date: 6/26/2000 9:59 PM
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Here's the summary:
I have the opportunity to buy into a lucrative privately owned business that has cash-flow that we all dream about. Own my home out right at around 110k, have around 120k cash, and would need to raise another 70+k loan. 35 yrs old, no debt (not even car loan), and comfortable 6 figure income.
I think that even if my job and the economy were cut in half tomorrow it would be do-able. I guess I've just fallen in love with the idea of being debt free and being able to tell everyone to go take a flying leap if need be.
Opinions and options greatly appretiated.

JLC


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Author: rjm1 Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 22962 of 75636
Subject: Re: Taking on Debt Date: 6/28/2000 6:34 PM
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I have the opportunity to buy into a lucrative privately owned business that has cash-flow that we all dream about. Own
my home out right at around 110k, have around 120k cash, and would need to raise another 70+k loan. 35 yrs old, no
debt (not even car loan), and comfortable 6 figure income.
I think that even if my job and the economy were cut in half tomorrow it would be do-able. I guess I've just fallen in love
with the idea of being debt free and being able to tell everyone to go take a flying leap if need be.
Opinions and options greatly appretiated


Be sure to have an attorney draw up the agreements and make sure you know what each owner will be responsible for. You will work harder as an owner than an employee. I would lean toward the venture, just be sure emotion is not getting in the way of a good decision.

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