Here are the biggest red flags:
-You comment how wealthy he is. That has no bearing on the value of the pub. And you don't know his debt load. He might look wealthy but you don't really know until you see how extended he is.
-You have bought in to the idea that because he wants to put the money elsewhere, you have an opportunity to buy the asset he wants to get rid of. That says: he either needs money or wants to get rid of a declining asset.
-Pubs come and go. You will not get wealthy buying someone else's declining asset.
-I could say so much more but I'll stop here for now.
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