The business is made up of several components. The land, facility, to operate TTH (Tiny Texas Houses llc) in ($1.2 mil on tax rolls) and build is one aspect that will require the most money to cash out of and then the rest of this is small potatoes and can be paid off over a lifetime, or not if I die before it is paid off.
The second element is the TTWH LLC (Tiny Texas Ware Houses) operations that holds all the inventory/salvage materials ($3 mil approx) which is owned free and clear but also sits in other buildings which comprise another component of the real estate arm of it which I could hold onto if we found a way to bring enough cash in to nix the bank on the land part which includes the facility.
The business Pure Salvage Living llc is the retail arm of this and holds the intellectual rights to all the stuff and sells from the warehouses.
Salvage, Texas llc I will continue to play with and develop which is the rest of the land, except what I will perhaps sell on the western end of the property which is more commercial and I will not likely develop it.
BWK Holdings llc, which has all the real estate is really the entity that has to clear the debt so that I can then finance the inventory, parts of the land, materials for building with, etc. My needs after getting the debt off the land and facility are not much so the question becomes really, how much down to sell the business, or cash out, … but if the big picture is too much, how much does one want to take over?
It may take more than one entity to make it all work, but the money to pay for it all is sitting here, in inventory, merchandising, and so much that could yet be done, seminars, books, tapes, etc, but with others at the helm and me just chipping in what I can while doing other things too. Is that better?
I am working this out as we go hoping to get the right fit, or mix of people to make it possible as there are some from Dallas/FW area and others who can not relocate and yet want to grow this so I do believe the Co-op Outposts will be the path in the end. Please do let me know your thoughts as it helps to clarify and grow my solutions base as I try to figure this out.
With a good chunk of change to cash out the banks, the rest is up to us to work out some terms that everyone will be happy with and all will be winners for the rest of our lives together.
Let me know if you have questions that I can answer that will help you figure out how to share and spread the Pure Salvage Living Renaissance to a town near you.