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My boyfriend and I are debating getting a 7M loan to buy an old property central to our city and make it an elite restaurant and event venue …….. my degree is in vet med… would I be insane for pursuing this instead of a DVM
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Anonymous 4w

Yeah you would be off your rocker, get the degree, things with the boyfriend could go badly

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Anonymous 4w

7M???

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Anonymous 4w

If you want to get into the restaurant business maybe start with a smaller project?

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Anonymous replying to -> #1 4w

I have the degree already, the investment in question is either medical school or getting our family rallied to help us transform the place. We’d do whatever work we could ourselves (he’s a construction manager and my father is too, his mom works for a company that could provide industrial fixtures/furniture/appliances) and the idea was originally for a wedding venue because we are getting engaged this coming year. Still too crazy?

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Anonymous replying to -> #1 4w

Not to say that we haven’t discussed how stressful the process would be, all the debt from loans, the construction, getting certified for a restaurant, hiring teams, but we tend to have decent communication and lots of friends in a multitude of careers that could help us.

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Anonymous replying to -> OP 4w

Sounds like you already made a decision

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Anonymous replying to -> #2 4w

Estimated 2-2.5M for the property itself, that’s some leftover for restoration, building an industrial kitchen onto it, all the appliances in it, branding and advertising, hiring and paying the initial staff while we train them before opening and starting to make some amount of money to pay them with, plus I want to invest in the big clear tents to have on the front lawns if someone wants an outdoor event. Idk trying to overshoot a bit, if we actually had anything extra we can use it to start -

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Anonymous replying to -> OP 4w

-paying the loan back too I guess. Not sure how realistic that is but hoping 7M is an overshot 🥴

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Anonymous replying to -> OP 4w

Yes getting a 7 MILLION dollar loan in something you have no experience in is dumb

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Anonymous replying to -> #1 4w

We just can’t stop talking about it

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