When a small business owner files bankruptcy, their company becomes an asset of the bankruptcy case. Therefore, the business owner needs to evaluate the value of the business.
Some business owners want to say that their small business is worth nothing because if they don't work, the company doesn't make money and is worth nothing. However, the bankruptcy judges and trustees in Tampa will not accept that argument, because the business has value. What would a competitor pay to buy the business? What is the value of the assets of the business? What are its receivables? What are its revenues? Its profits?
In this episode of the podcast, we review all of these different valuation techniques in connection with business owners who want to file personal bankruptcy.
In this week's episode, I have a conversation with Tyler Sheff of The Cash Flow Guys. Tyler is a real estate investor, coach, consultant, podcast host, and most importantly a friend and mentor to me personally.
Tyler is one of the real estate investors that does it right. He always looks for a win-win scenario and coaches his students in the right way to buy and invest in real estate (i.e. without taking advantage of anyone).
Tyler refers customers, clients and investors to Yesner Law and we very much appreciate the referral relationship we've created with The Cash Flow Guys.
We recently acquired equipment that allows us to conduct podcast interviews by skype and Tyler was kind enough to be a guinea pig. This episode is the result. We hope you enjoy the content, and visit Tyler's website for more information.
Typically, people dealing with foreclosure, bankruptcy or short sales are concerned about the impact those things may have on their credit.
We focus on taking the mystery out of your credit score, so that you can focus on eliminating the potential liability to the creditor. However, understanding what makes up a credit score will help when facing foreclosure, bankruptcy or short sales, even though credit does recover quickly.
The five factors are:
We discuss these factors in detail in this week's episode of the podcast.