New ask Hacker News story: Ask HN: Any advice for someone looking to buy an existing business?

Ask HN: Any advice for someone looking to buy an existing business?
3 by 6DM | 8 comments on Hacker News.
Hi HN! I may have found an online website that I would like to buy. It is a social media management company. The website is making around $8k a month and they are asking for $250k for it. Seems like a great deal, but when things are too good to be true, I am convinced it is likely a scam. I am pretty nervous about forking over a large chunk of my hard earned money, regardless of the deal I find. Any advice for this process so I can avoid being scammed, or loose money? Tips and tricks to validate the legitimacy of the business? Maybe a recommended checklist based on past experience? A little about my background, I have been a software engineer for the past 10+ years, but I don't love to program anymore. I prefer to think about the business, customers, sales, marketing, etc. and would prefer to pay an employees to do the programming and manage infrastructure with only the occasional need to roll up the sleeves. If any of you have an existing business that you are looking to sell to an individual, I'd love to have a chat. Ideally it would be something like: - Actively Managed Business, net income $16k monthly - Passively Managed Business, net income $2k monthly - Ran virtually online or located in the DMV if office based

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