On today's show, I talk with David Barnett, who is an expert in buying and selling business. I wanted to come at the conversation from the angle of buying a business as an income generating asset in retirement. He had a lot of wisdom to share. We cover:

How did David become an expert in buying and selling "main street" businesses?
Should you buy or sell a business in retirement?
Aligning your business venture to your interests
Why buying a business and being "hands-off" is an unrealistic expectation
Don't be fooled by the promise of buying an "absent-owner" business
There is a lot more to owning a self-serve car wash than just collecting quarters
What are the most important things to think about when buying a main street business
Why do you need to make a proper cash flow projection
Three components of the typical financing for main street business transactions
Red flags when buying a business
How Seller Financing can help foster a successful transition
The fragile nature of businesses
Does the goodwill of a business reside with the business or the owner?

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Buying a Business for Retirement Income with David Barnett