Snack Master
As usual, things couldn't have gone much better than they did. After submitting my low bid for the vending company, I sweated it out for two days, before getting a counter offer. I had previously hoped that we would come to an agreement about half way between my bid and the asking price. Because my bid was so low, I was half afraid that the seller would be insulted and just walk away. To my great surprise, the seller came back with a counter offer just $8,000 more than my bid, and below the midpoint of bid and ask. I felt it would be petty of me to try to eek out a few more thousand from the deal...so I accepted.
We are now in escrow and I am expected to become the Snack Master on February 29th. Leap
Day. By picking this date, I think I'll only have to pay taxes once every four years.
Accepting the offer has set off a series of tasks that I am now working through in order to take over the business. I spent many hours Friday, Saturday and today at my new bank branch. I have set up personal checking and savings, business checking and saving, as well as transferring my Smith Barney, Mellon, and Citi pension portfolios over. I also opened up personal and business debit and credit cards.
Because I will be acquiring a 1995 Isuzu Box Truck with the business, as well as 7 vending machines that are not on-location, I am looking to rent space at a storage facility. Ideally, I would buy or rent a house with a garage to run the business out of, and I have met with a couple of realtors, but I don't think I am ready for another move just yet. Things are complicated enough already.
Later today, I will be meeting the seller where we will be going over many of the specifics about the business that I have not been permitted to see yet. We will also be setting up a schedule for the seller and I to drive around to all 44 of the locations to assess the machines and perform all the due diligence tasks that are needed to make sure I am not getting rooked.
Otherwise, I am thoroughly enjoying the change in climate here in Phoenix. It seems like it has been cold and rainy since I moved in, and only last week did the temperatures start to creep back up. Today's high is expected to be 78 degrees, and there isn't a cloud in the sky.
I'm sure CuzJoe is checking the forecasts as he will be taking a trip out here next week and we're hoping for some balmy temperatures. CuzJoe said he'd be interested in going out on a mini road trip, so I am looking into some of the possibilities. I think we could do a 3 or 4 day trip from Phoenix to Tombstone, AZ to Bisbee, AZ to Nogales, Mexico, then perhaps end up on a beach South of the Border before heading back. Unlike the first time CuzJoe and I set out, it should be pretty easy to get some sunshine for this trip.
Cheers, Snack Master Scott (BTW, it wasn't easy to find a business that had the same initials as me.)
We are now in escrow and I am expected to become the Snack Master on February 29th. Leap
Day. By picking this date, I think I'll only have to pay taxes once every four years.Accepting the offer has set off a series of tasks that I am now working through in order to take over the business. I spent many hours Friday, Saturday and today at my new bank branch. I have set up personal checking and savings, business checking and saving, as well as transferring my Smith Barney, Mellon, and Citi pension portfolios over. I also opened up personal and business debit and credit cards.
Because I will be acquiring a 1995 Isuzu Box Truck with the business, as well as 7 vending machines that are not on-location, I am looking to rent space at a storage facility. Ideally, I would buy or rent a house with a garage to run the business out of, and I have met with a couple of realtors, but I don't think I am ready for another move just yet. Things are complicated enough already.
Later today, I will be meeting the seller where we will be going over many of the specifics about the business that I have not been permitted to see yet. We will also be setting up a schedule for the seller and I to drive around to all 44 of the locations to assess the machines and perform all the due diligence tasks that are needed to make sure I am not getting rooked.
Otherwise, I am thoroughly enjoying the change in climate here in Phoenix. It seems like it has been cold and rainy since I moved in, and only last week did the temperatures start to creep back up. Today's high is expected to be 78 degrees, and there isn't a cloud in the sky.
I'm sure CuzJoe is checking the forecasts as he will be taking a trip out here next week and we're hoping for some balmy temperatures. CuzJoe said he'd be interested in going out on a mini road trip, so I am looking into some of the possibilities. I think we could do a 3 or 4 day trip from Phoenix to Tombstone, AZ to Bisbee, AZ to Nogales, Mexico, then perhaps end up on a beach South of the Border before heading back. Unlike the first time CuzJoe and I set out, it should be pretty easy to get some sunshine for this trip.
Cheers, Snack Master Scott (BTW, it wasn't easy to find a business that had the same initials as me.)
5 comments:
Congrats Scott! I hope the due diligence goes well and that you and Joe have a great trip!
Sounds like a new recurring, iterative road trip starting Feb. 29th. that too can have it's own adventures and discoveries. Good speed.
Your initial description:
"Quitting work, selling my place, and going on the road for an extended journey with a final destination yet to be determined."
remains valid.
Probably always will.
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