Orchestrating the purchase of a Bar - Real Estate and Assets

We want to buy a bar with assets and Real Estate,  however as the bar owner,  we do not want to own the realestate.  So it looks like we will need to orchestrate a couple of transactions,  which will require a couple of transactions.

1. Purchase the all asset from the current seller,  the realestate,  and other bar assets.  Into a Bar Operator LLC company.
2. Have a Real Estate Holding LLC purchase the Building from Bar Operator LLC and Lease the Property back to the Bar Operator LLC.

This method will allow us to put together a lease on the property which should show some sort of a profit.  (i need to investigate cap rate or other real estate investor terms in order to find out what reasonable rates are)

Additionally,  the liability for the bar owner will be restricted to the insides of the bar.   A proper lease agreement must be maintained to property isolate them and proper payments must be done.

Unfortunately the method above does not allow us to easily get a loan for the Real Estate.  In fact the method above disqualifies us for a SBA loan because in transaction #2 the SBA can not give loans for purchases from the same owner,  (they spend alot of time talking about who is the same owner).

So perhaps the other way to do this would be to make two separate purchase agreements one with the real estate into the  Real Estate Holding LLC and purchase the Liquor License and and other bar operator 'blue sky',  etc into the Bar Operator LLC.

Then only get the loan for the Real Estate Holding company and pay cash (or get a separate loan) for the Bar Portion.   This method would require that we likely invest more money of our own cash.

Idaho State Liqour License Rules

I was recently looking into figuring out the value of a Liquor License in the state of Idaho. (there is a bar for sale in Kuna and I am trying to determine the value of it).
 My research started with finding the Kuna Liquor License application on line and calling them [208-922-5546] to find out what the limitations are .   They were very helpful (i I was transfered to the city clerk Chris).  They described that before they can issue a license you have to first apply to the State of Idaho and then the County,  and then when you have both of those in hand, you can then go to Kuna.

They said the only limitations in Kuna are related to the zoning,  so I would want to first talk to the Planning and Zoning department to make sure the location is appropriate.  but other than that,  the will issue as many licenses as people wanted. THey said they think it is Idaho that puts the restriction on based on population.

So I called the state of idaho (208) 884-7060 and I immediately got a hold of the right person,  she said that this information is not public information so there is no website that can give it to me so I reached the correct person.   She dug in a bit and said that they reevaluate the census each year to determine how many licenses should be allocated. In Kuna,  currently there are 10 licenses allocated,  and 12 allowed,  that means that two more establishments could come in and just apply and be granted a liquor license without any waiting and only the application and licenses fees.

Essentially this means that the liquor license at this bar is only worth the amount paid in yearly fees prorated to the time that the license expires.

• Actually after some followup I found out that the transfer of a seasoned liquor license can be done in a week or two and the Idaho liquor board will put a tempoary license in place,  in order to prevent the bar from ceasing sales.   When I asked about any issues I should be concerned about,  she mention to start early with the tax commission,  LLC  setup,   and then we can send in 'early' the copy of the sales and purchase agreement in order to get the transfer moving.    One important issue that she identified was that when purchasing the entity,  the transfer fee is 10% of the license so that means we need to split out the cost of the license in a purchase agreement so that the state knows how much to charge for.

In kuna all licenses expired on 5/1 each year and the yearly fee is 562.  This boils down to an easy to calculate number of about $50 per month prior to May 1.
The state of Idaho does not have their Liquor License fee listed on their application,  so I call their number again.
Ada county has a fee of $125 per year

So,  now that I know that the liquor license in Kuna is worth less than $1000 even if paid for a whole year,  it seems that we have to worry about the costs of transferring the liquor license to a new company.

The license from the state of idaho for Kuna is $800 / year.

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Additional information on liquor licenses:

• You can purchase a seasoned liquor license and move it anywhere in the city for a $20 fee to Idaho (there may be other beer , city and county fees)
• Liquor Licenses are not offered outside of cities,  except to ski resorts , golf courses or other specialty license locations (it seems to me that the specialty locations are 'fixed' and not something that can be moved like a restaurant location)

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Bouncy house at the Raven and rose

A delicious whiskey cherry demerrera seller drink at rose and raven in portland.  A great chaser to a 4 lb porter house and a wee lassie girl drink

Work outs around the house

My knee extension is not progressing much but we are to the slow part.  Now the idea is getting my leg strong again.  The excercises I need to do are: 
- gym - biking
- leg presses @ gym or squats at home
- leg curls at the gym or ankle plank on the  yoga ball at home
- balance on a bozu ball at the gym or one leg balance on the dog bed while brushing my teeth

Sunday pedicure with my girls

Q nails next to buffalo wild wings was to busy so we made a reservation at the closest google result , sassy nail salon at ustick and eagle.  I was pretty happy with the results.  The salon was busy and while my wife and Sydney had a pretty straight forward wash and trim, they made heavy use of a nail grinder to smooth out the top of my nails.  And the callus sanding block was probably hot when it was done. 

They spent the exta time my feet needed, and they were personable about it.

Thanks sassy.

Knee progress extension to 0% acheived

I have acheived 0 degrees extension passively.
And now I have to work on more extension.  I am gonna keep my compression sleeve on since it seems to be pretty swollen still.
I am gonna keep on excercising and doing stretchs.
The doc wants my entire leg to be strong enough so I am doing aducter stretches and leg twists, hamstrings and biking.  H3 does not want me working my quads opens chains so I will continue leg presses and isometric flexing at full extension

Tommie copper - quality of material

I am NOT impressed with the quality of the Tommie copper knee sleeve that I received last week. Only one weekend of where the lettering and logos started to come off. While I am NOT one to wear logos of any kind I still think points to the quality of workmanship. If I find a need to purchase another sleeve it will certainly be trying another brand.

Measured my knee extension - major in prove mentioned due to sleeve

Today I went to another round of physical therapy and I spoke at length to the doctor about the overall progress of many how it is worked today I was wearing a Tommie copper knee sleeve which I told him appears to have on the swelling down considerably bread start looking at the name and we found I currently am at 0 degrees passes and negative 1 or 2 degrees active when the doctor actually put pressure on it and she said that is what it was like two weeks ago when you first worked on it and really put some working to the knee however it then swelled up so huge that we could never get it back to that level.  Only after using the sleeve which applied constant pressure to my knees over the last 4 days have I been able to push out all the fluid. My knee is still rather swollen but it is no longer stopping me from progressing. So I will keep on working on it until I get to my negative five or negative six degrees of extension and until my leg muscles return

Nacho bar dinner

What a cool idea. Cook hamburger, get out the chips cheese and olives.  Add sour cream if desired. Thanks syd

Syd

Syd is great at giving perspective.  I sure love my daughter

Motorcycle seat recover

Sam and I decided to try and recover the motorcycle seat since it was really ripped up and showing foam in several places.

We watched a youtube video and went down to joanna fabric to get some supplies.  For 21$ we bought some black marine vinyl (1yd) and some spray advice and some semi dense foam to fill in the cracked foam.

We took out he staples on the old cover removed it.  Sprayed the advice on the foam and started stretching the vinyl over the seat and stapling it down again.  The stretching ended up pretty good but the next one will be tighter.  We ended up folding the fabric in a two places where we just couldn't have stretched it tight enough. And it is a bit loose in some other spots.  But in all it is an improvement over the old.

Total cost thought was 50$ including the tools,  however the staple gun and 20000 staples will be ones we keep forever.

Shipping info

In case some day I need this logistics or shipping information.

I found the information on my box otree-huggerz

Fire southwest of kuna

Janae syd and I drive 20 minutes, through kuna to the top of a hill where we could see a huge fire

Tommie copper knee wrap

I bought a Tommie copper knee wrap off of Amazon to fully apply constant pressure all of the time throughout the day on my knee to try and get the swelling down. The best way to purchase it as far as I could tell was using Amazon Prime where there was no additional shipping.  I did have to go to D Tommie copper website in order to find a sizing chart. I think they just assume I am okay always a large but according to their sizing chart ahead measure around my thigh five inches above my knee.  I didn't have a measuring tape so I used a piece of paper. I wrapped my paper around my leg and marked it at the 11 inch mark then I marked the piece of paper part way down the page where the two marks met.  Then I folded the page in half again and again until the mark probably easy to identify how many folds ( halfs) there were.  And it turned out that I am about 18 inches. So I bought a large. I forgot to order it in till about 1145 at night and the Amazon site told me that if I order it in the next 10 minutes I would get it by end of day Thursday which made it so it only took about 36 hours and Prime shipping which was closer to 30 hours.

I slipped on the cobalt blue sleeve and I imagine it will be part of my wardrobe for the next few weeks.

I will start measuring the size of my knee in order to track how swollen it is.  ( I have some fabric measuring tapes coming )

Followup dr visit for acl reconstruction - drain knee fluid

Good morning after a fairly light physical therapy my knee was still very difficult to move because it was so swollen. It seeumed as though that was because of Pt but it just never was getting any better and after the most recent round PT it just seems to be getting worse except for the few minutes after. So when I went in to talk to the doctor he took a look and said yeah it seems little bit swollen and I can be normal at this point it's only been 6 weeks and he was going to dismiss it as an issue but then I told him that right now it is worse than it has been in the last couple of weeks and so he said well we can drain it if you want. I said what's that and he said that you normally have three or four this is the fluid in your knee. But it looks like right now I have 30 to 40 Cc's I said I don't know how to make that decision about it leave it to you because you know whether that would help or not he didn't seem sure but he ended up doing it. He started putting some topical pain killer on then he put in some lidocaine which stung just a little bit and then he got a really large syringe and a clear yellowish liquid it came out very quickly and he had to change the body of the syringe 3 times because through so much. In the end the 55 cc's of fluid in the last 5 or so for a little bit reddish like Blood so he may have been digging around in there to get those last cc's.

I was able to tell the difference inmediately there was no pain as I bent my leg back and forth it wasn't I'd I could still feel the pain of the broom and the injury but there was no difficulty moving many at all it seemed to me like this this is definitely the right decision

One day later though my knee is swollen again and I feel like I need to get it drained Sun f*** your friends mom said well how often are you I said or are you elevating. So I think I probably better start doing that looks like this weekend will be on the couch for me

Sawtooth physical therapy 2

I went back two days later to the physical therapist and boy was it tight. But this time it hurt worse then it had in the two or three weeks before my first visit I talked to him about this he described it he probably just worked it too hard. I asked is that really a problem. He said in the short term we should back off but in the long term we should continue to do it in smaller steps so he went about the same massage. At this time he also applied heat first I also did a couple of exercises.  He said walking backwards can help loosen things up so I did that for 5 minutes.  I also did some foot stretches.  He said my walking show pronation in my right foot. He then showed me how I don't have as much strength in my right foot so I had to do some foot angle thingies.  He then did a compression wrap where I did 10 minutes of 34 degrees.  I felt great after that as the swelling went down.

Sawtooth physical therapy - measurement and nassaf

I went for my visit to site 2 days ago Sarah p and immediately the method of evaluation was apparent. The physical therapist looked at the name noticed it was swollen felt it to understand as much as possible what was stopping it from extending and decided to massage swollen portions to sleep good start to get a better extension of the knee at the beginning of the session he measured p passive extension at 15%.  After sucking the top of the knee which Pierce very swollen you also / Madrid I didn't sign the back of the knee and by the end of the session I was able to extend almost all the way. He also explain to me how my quadricep is having trouble firing and flexing all the way when my knee is extended the reason is that the swelling in the knee causes a bit of pain when extended too far and so my quadricep says I don't need to fire and expend more so as the swelling goes down and as I'm able to extend farther I will work on simply getting the quadricep to fire while in a fully extended state. While I was there he also put a cold compress on it for about 10 minutes which really cooled it down. He also explained that I should not be trying to fire the quad if I am bending my knee so don't exercise or try to exercise my knee and the quad if it is tired or hurt because I'm teaching my body the wrong thing.