Purchase a Book with No Capital?

[LAPINSGRP]

I am looking to research about possibly buying a book of busines without any capital. Has anyone on here purchased a book with the owner holds the note? How did it work for you? What finance percentage to you give them above the purchase price? Any details would be very appreciated or where to get more info.Thanks

 

[mattupthehill]

Hello, My brother-in-law purchased his father's and grandfather's BOB with the agents carrying the note.
As far as interest rate that's something you'd have to work out with the agent ( if you find an agent willing to carry the note) I believe anywhere in the 5-10% range.

Another issue is if you are purchasing a book from a captive agent ( Allstate, Farmers, etc) you might have to be pre-approved by the company.

 

[AgencyClassifieds]

If you are planning to do this you need to make sure you get very clear terms on what constitutes a default on your part.

Interest rate will depend on what the owner is looking for, but I would expect to be on the higher side of the range in the previous post.

 

[MegaNEallstate]

I have loans with former agents. I had to give them all 10% down. Idk to many guys who would do zero down though.