Hahahaha I know a guy! 😂😂😂

Welcome to the channel man! Sorry for my late reply. But yes I will be putting content on business acquisitions. I would recommend don’t pour money into any start up unless it’s a shoestring budget and is going to cost you very little money. I’m all for doing side hustles or anything you can to save more money in order to make an acquisition. But let that acquisition be your top priority because you’ll never see a consistent return and as high of a return as you will and business acquisitions Have your goal set on something that is scalable (like a damn subway or something) not that I really recommend buying subway sandwich stores, but you get the picture you can always buy more once you are successful with the first unit

@@cartalksmoneywalks got you. appreciate your insight bro will for sure take that in🙏🏽.

Hey Kevin. Let me know specifically where you want to start in the learning process. The BEST way to learn is to almost act like you have the capital now. Start looking online at businesses for sale BIZBUYSELL.COM is the best place to start. Talk to brokers, and start looking at financial packets they offer you (after signing a non disclosure agreement AKA singing an NDA). This is what I did when I was in your boat and didn't have the capital. In general you will need approximately 10% for a down payment in order to buy a business. Work on your resume for the bank and get management experience, this will make it appetizing for a bank. Sales experience is always a plus as any business you own you will have to derive sales somehow. I mean, the banks will walk you through the SBA loan process and that is a huge learning curve, but I don't think you need my help there. I would focus on finding ways to save as MUCH money as possible, and learning about businesses in general. Start googling businesses for sale and find the main websites that list businesses for sale, and start talking to brokers. It's all about doing the math on the business on how much your debt services will be VS the cash flow the business is making. What have the last few years been like? I prefer businesses that were not drastically affected by covid, as I like a slow steady growth. What would you want me to focus on? How to save money in order to buy a business? What types of business one should buy? Let me know and we can either chat on here or I can make a video on it. Cheers!

@@cartalksmoneywalks great info!!

Glad you enjoyed the content!! Cheers!

What type of finance company do you own? And what kinds of businesses are you contemplating buying for cashflow?

I ordered it in July and getting it end of Jan.. so a little over 6 months But I also ordered riiiight before the year long waits happened, and I got lucky and ordered at a dealership that had an available allocation within a couple weeks of me placing my deposit I love talking business and would do more videos regarding them anytime I’m an open book about the process, and I really do wish more people would follow suit. It’s so easy to start doing (well… hard work but very doable). Congrats on your car! What color and specs are you getting? Also what do you do for work?

@@cartalksmoneywalks I've ordered a RWD coupe in yellow (Giallo Inti) and black interior. I opted for the comfort seats rather than the sport seats due to hearing about a longer wait time for the sport seats. I mainly focus on angel investing in disruptive tech and blockchain/crypto companies.

@@z00mz00m Very cool! We should definitely connect as I get people all the time who are looking to raise funds, and that’s not really my cup of tea. I also plan on rebuilding my portfolio here in the CO area and being a silent partner in various deals Cheers! Small world!

@@z00mz00m I'd highly recommend Legion Network if you're into disruptive tech companies. I connected with one of the co-founders and for a fairly new business they're honestly really appealing to me as an investor

I explain things pretty well here: kzfaq.info/get/bejne/oNuohraAksywZn0.html

Thank you! I’ll try to continue to make content I figured the car might bring more attention to the real hidden gem of business acquisitions. Maybe some young folks will listen and create a spark I appreciate it!

@@cartalksmoneywalks the whole business acquisition thing definitely did somehow create a spark in me, maybe even more than the car talks, so you're definitely doing something right!

Yes It’s crazy how quickly you can be a high net worth individual from buying scalable businesses in the $2 to 5 million dollar range Definitely never a full day!! lol

@@cartalksmoneywalks lol I bet! I’m assuming you favor business businesses over buying Real estate ? Even though buying real estate is a business

Correct Over the last 7 years I’ve average 250% ROI you just can’t get that consistently with RE

@@cartalksmoneywalks when do you think you’ll start teaching ?

I have started to do some mentoring (a couple younger people on how to start in life) For some older people in their 30’s and 40’s who have some assets and are interested in what I have been doing, I am doing consulting. I typically have a few phone calls with them and explain the ROI potentials with mock acquisitions (and look at real listings for sale and what the ROI would be) We look at creative ways to structure the deals I introduce them to my network of transactional attorneys, banks, CPA’s, etc Essentially they get immediately tapped into my years of work. I the. Analyze the business for pro’s and con’s. Potential risks, and potential upsides. Essentially a full consultation on an acquisition. I take a $7k retainer which gets applied to the commission due at the closing of the business (5% of the deal, of which a large chunk gets paid by the listing broker and bank) so a small balance is due from the buyer.

My first recommendation is to get a job in sales. Do you research and find out what type of sales will pay you the most. Make only commission. Do not let anybody pay you an hourly wage and determine your worth. One of the most valuable things I learned is to make whatever the hell I want to make in this world. The second piece of advice is I would say get some management experience Then the next is becoming entrepreneur. And acquire businesses. Watch my video on “how to make Your first million dollars “

Great question. So I’m order to buy a company it does cost $. But typically you can plan to put 10% as a down payment in order to get an SBA loan and a bank that will want to take the deal. (You can even put as little as 5%, I haven’t seen a. Deal that low, but legally it’s possible. I have seen 7.5% as a down payment) So let’s say you are young and don’t have a ton of cash… I would suggest this: look for a smaller business (but buy as LARGE as you can) don’t buy a house, or if you have a house… sell it (Because he will make a lot more money with the business then you will in real estate, and you can always buy real estate again once you get a little bit more settled) Otherwise you need to figure out a way to completely cut your costs down to zero to be able to save $50,000. It really helps to get your life settled down and maybe even get married and have somebody that is on the same mindset as you. Things change for me when I got married because number one I was more responsible with my money, and number two there was synergy between my wife and I So what we did was we saved one of our paychecks entirely, while the other person paid all the bills and fun things. If you want married then move in with your family, or move in with a bunch of buddies for very very cheap rent. And save every freaking penny you own for a couple years. Get $50,000 in the bank account by any means possible. Sell your car, so whatever you can do. Save every penny and don’t do a goddamn thing for a year or two. Now you start the process while you’re saving of learning about how to buy business. You go to bizbuysell.com and start inquiring on deals. Start talking to Business Brokers. Fake it until you make it. I’m not ashamed to say that before I had any money I realize that when talking to Business Brokers, they would not give me the time of day, so I had to fib a little bit on my financial statements that I was telling the brokers. No I was not committing any fraud because it wasn’t going to a bank, but I was wasting peoples time unfortunately. But it gave me the knowledge while I was building up my capital to talk to business owners who are selling their company, talk to Business Brokers, And start learning a little bit about these Acquisitions. I know I’m going a little bit further than what you asked, but the short of it all is do whatever the hell you can to come up with a down payment. Sacrifice now so that you can enjoy later and longer

hey man, didn’t expect to be typing this as I just came to learn about cars haha but i own an ecom business and we’re planning to make an exit within a year do you guys buy online businesses as well?

@@cartalksmoneywalks can you talk about a recent deal that you did? The return on the deal, how long it took, etc. also if youre not a CPA how can you buy accounting firms how do you know anything about them? Thanks

@@dman8557 The most recent deal I did was in June of this year 2022. I purchased a facility management company. The price was $2,450,000. I put a down payment of $300,000and it had revenue of about $2.5 million with owner profits of about $713,000 in 2021. It is trending to profit $800,000 this year. It is a franchise and the bulk of revenues come from commercial cleaning. I am in talks now to buy another location that is profiting about the same or a little more than the one I just listed, The CPA firms. So here is the deal. My wife and I have a good amount of knowledge in the tax world. She has an MBA in Finance/Accounting. On top of that we owner 43 locations of Jackson Hewitt Tax Service. So we have exposure to it. She is also going to obtain her EA license. All of that being said, the idea is to hire hire hire. We cannot call it a CPA firm once we take ownership, but if we retain the previous owner and then hire a new CPA as well then we have enough bandwidth to handle the clients. The price of CPA firms tend to be much lower relative to how much they profit the owner., So, there is room i the budget to hire CPA's to help with the tax work. We also are looking for firms that do business that actualy does not require a CA license. Meaning Bookkeeping and tax preparation is the bulk of the revenue. I talk a little bit about my most recent acquisition in the video I just put out titled something like "I Sold my Lamborghini" so you should check it out :)

@@dman8557 Also on the recent deal. I closed very quickly. It took about 2 months. Finding the right deals is what can take a year. You can be lucky and find a right fit in a matter of a month or a couple months, but it can take a year to find the right deal. It also depends on if you are willing to move out of your city/state. If you are willing to move, then you can find a deal much quicker!

Hahahaha If you can create a cash flow on this channel… I will buy that company from you!!! Deal?!!

@@TheErased7564 I’m not following ya 😂

@@cartalksmoneywalks don’t worry, anyone who needs money will understand

😂