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Live Bait Bucktown selling its business on craigslist

Posted on 5/28/13 at 3:54 pm
Posted by CE Tiger
Metairie
Member since Jan 2008
41908 posts
Posted on 5/28/13 at 3:54 pm
LINK

anyone wanna own a bar?? 77k seems like a steal
Posted by Geauxld Finger
Baton Rouge
Member since Jan 2005
32588 posts
Posted on 5/28/13 at 3:55 pm to
shite that is a steal. think he might be exaggerating his numbers a bit though.
Posted by CE Tiger
Metairie
Member since Jan 2008
41908 posts
Posted on 5/28/13 at 4:19 pm to
that's what I was thinking although I'm sort of tempted to get 5 friends together and invest in it
Posted by tduecen
Member since Nov 2006
161246 posts
Posted on 5/28/13 at 4:21 pm to
Damn, I got 10k
Posted by notiger1997
Metairie
Member since May 2009
61723 posts
Posted on 5/28/13 at 5:46 pm to
That place was pure garbage. They had to have been selling drugs to make it as long as they did
Posted by notiger1997
Metairie
Member since May 2009
61723 posts
Posted on 5/28/13 at 5:46 pm to
That place was pure garbage. They had to have been selling drugs to make it as long as they did
Posted by kfizzle85
Member since Dec 2005
22022 posts
Posted on 5/28/13 at 7:15 pm to
quote:

Popular neighborhood restaurant/bar.




quote:

Revenues over 750k.


Posted by threeputt
God's Country
Member since Sep 2008
24807 posts
Posted on 5/28/13 at 7:17 pm to
quote:

Seems like a steal


77k is more than about 90% of the bars sold in the metro area
Posted by saderade
America's City
Member since Jul 2005
26391 posts
Posted on 5/28/13 at 9:23 pm to
I wonder what kind of debt he is dealing with right now.
Posted by threeputt
God's Country
Member since Sep 2008
24807 posts
Posted on 5/28/13 at 9:45 pm to
Well if he really is not under contract with a poker company, probably not too much. It's pretty hard for bars to get loans sans poker companies

I would just guess probably 15 or 20k in debt. His rent there is probably 4,500 a month another 5 or 6k in expenses plus his debt load and monthly sales about 10 or 12k and poker revenue about 6k.

Pretty much a break even deal at best IMHO
This post was edited on 5/28/13 at 9:46 pm
Posted by John McClane
Member since Apr 2010
37180 posts
Posted on 5/28/13 at 9:49 pm to
quote:

I wonder what kind of debt he is dealing with right now.


I'm no expert, but a shite ton
Posted by threeputt
God's Country
Member since Sep 2008
24807 posts
Posted on 10/17/13 at 9:45 am to
So, a little birdie told me that this location is back up for sale.. The price this go around ????






















What for it .....

























200k ....
Posted by CITWTT
baton rouge
Member since Sep 2005
31765 posts
Posted on 10/17/13 at 10:38 am to
His P&L numbers have to be gone over by an accountant to see the value of this steal.
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