E272: How to Buy a Business with Almost No Money: SBA Loan Strategies & Franchise Goldmines

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
The one thing.

Speaker 2 (00:00):
Also, if you're doing a real estate play and it's
like a business like that, if it's in a rural area,
we can use the USDA b A I loan and
we can do deals up to twenty five million with
that as long as it has to one to one clateralization.
So I think, like, when we're thinking about these plans, like,
we got to think five steps down the road. And

(00:21):
it's not all about People always talk about your net.

Speaker 1 (00:23):
Worth and everything.

Speaker 2 (00:24):
To me, it's all about when you wake up in
the morning, how much money comes in passively or semi passively.
And one of the banks I work with in the
Midwest will do ninety percent loan to cost on a
startup franchise. Most of them are about eighty percent. But
this bank, if it's a smaller ticket, so it's total
startup cost with working capital, franchise fee and everything is

(00:46):
one hundred and twenty grand, So twelve thousand dollars down.
He's in business now, he's crushing it.

Speaker 3 (00:57):
Hello and welcome to the How to Exit PODCAS, where
we introduce you to a world of small to medium
business acquisitions and mergers. We interview business owners, industry leaders, authors,
mentors and other influencers with the sole intent to share
with you what it looks like to buy or sell
a business. Let's get rolling and now a moment for

(01:23):
our sponsors. This episode of How to Exit is brought
to you by Final Assent to Batique m and a
firm helping lower middle market business owners achieve their ultimate
exit at Final Ascent. They know selling your business is
one of the business decisions you'll ever make, and they've
been in your shoes. Their team isn't just made of advisors,
their experienced business owners who have successfully navigated their own exits.

(01:45):
Final Assent specializes in preparing businesses for sale, building value,
and connecting with a national network of qualified buyers who
will compete for your business. They don't take on a
client unless they're confident they can sell your business at
the current market value, whether you're ready to sell now
or planning for the future. They'll craft a roadmap tailor
to your unique goals so that you can walk away

(02:08):
with maximum value and a peace of mind. Start your
journey today at Final Assent that's www dot Final Ascent
dot com. Because your next chapter starts with a successful exit.
I want to highly recommend you get Acquisition Officionado magazine
every month. Acquisition of Ficiingaudo Magazine brings you tactics for
business buying and selling you won't find anywhere else. Learn

(02:29):
firsthand from industry leaders who share their success stories, featuring
in depth interviews and stories from leading figures in the
business acquisition industry. This multi platform mobile magazine speaks to
acquisition entrepreneurs wheretherver they are in the journey, and I
want you to visit acquisition Afficionado dot com today. Hello,

(02:51):
and welcome to the Hot Exit Podcast. Today, I'm here
with bo Eckstein. He is a business coach. You've done
all kinds of stuff man SBA, lending, real estate, helping
people find the right business and find you know, a
path to freedom from the nine to five. I'm really
looking forward to the conversation today. Thank you for being here, Oh,
thank you.

Speaker 2 (03:09):
It's it's great to be here. And it was fun
to talk about jiu jitsu before we went live.

Speaker 3 (03:13):
So yeah, yeah, I'm a little old now and a
way overweight to be on there on the map. But
my children are into it. They just got back into it.
My son trained for four or five years when he's young,
but we traveled around a little bit. We just found
a great school. So my nine year old daughter and
my son are both involved now, so it's fun. It's good,
good experience for them to have. So I want to

(03:34):
get started with your origin story kind of how did
you end up in this business? Coach? Business buying coach?
You know role that you're playing now you've got You
and I have some similarities in the background. I have
a real estate background. It sounds like you do too,
and let's just go from there.

Speaker 1 (03:49):
Your ogre.

Speaker 2 (03:51):
So it all started back in high school. I was
a terrible student. I didn't open any books. Actually, in
elementary school, I was diagnosed with the learning disability, so
I just thought it was so. But in high school
I was like, well, what do I want to do
when I grow up? And I always had a vision
of either being in law enforcement or being in real estate,
and so I chose real estate because I was going

(04:12):
to go into the military. I was getting pretty close
and then I said I'm not cut out for the military.
So I happened to meet a guy at the gym.
We worked out together and he was in the mortgage business.
So at twenty years old, I started working as a
telemarketer for residential mortgage company. I quickly ended up getting
my license and then saying, hey, I'm on the phone.

(04:33):
I give good phone, I'm a great building report, and
I'm giving these guys all these leads. So I ended
up getting my license in California, and I brokeered a
lot of conventional financing loans, and then in two thousand
and five, a guy I worked with said, hey, let's
open the first branch in Nevada.

Speaker 1 (04:54):
So I moved to Lake Tahoe.

Speaker 2 (04:55):
At the time, I lived in Inclined Village, and that's
a very expensive area for those that notes where the
billionaires kick out the millionaires. And I was a twenty
something year old kid, and I started buying a lot
of real estate, and I thought I was really smart
because I could get one hundred percent financing all these properties.
All of a sudden, the end of two thousand and
seven rolls around and two thousand and eight, and I'm like,

(05:18):
the mortgage business froze right, like nobody could make loans anymore.
The subprime market collapsed. All these rental properties I had
were not cash flowing. I was speculating, and I remember
calling my mother going, Mom, I'm screwed. I've got tons
of credit card debt, and she's like, just move home.

Speaker 1 (05:35):
So sold what I could.

Speaker 2 (05:37):
I got foreclosed on, ran away from a bunch of
credit card debt. I probably should have filed the BK,
but I wasn't smart enough back then to do that. Anyways,
I moved back to the Bay Area where I grew up,
and you know, was like, what am I going to do?
I don't have a college degree. All I know is
mortgage in real estate, and so I decided to start
selling real estate. And then a gentleman that I used

(05:59):
to work with you years ago, I ran into him
and he's like, you know, I I'm a part owner
or a co fund manager or a hard money fund
and we do fix and flip loans. And this was
before all the institutional private money was out there doing
these fix and flip loans. So I started originating loans
for this fund and I loved it, and then I
from there I was like, well, if these if these

(06:21):
guys can flip houses, I can flip houses. So I
had like a five hundred credit score at the time
and no money, so I partnered with the money guy.
I partnered with a contractor. We'd I would find and
orchestrate the deals and we'd flip properties. And then I
started doing better and better. And I used to run
a real estate investor club, so I'd have deals coming

(06:42):
to me. I was always like, always want to like learn.
I started to realize that actually I'm a really good student.
I just have to learn. I have to study stuff
that I want to learn. And then I got into commercial.
I got kind of burned out of the fix and
flip and it's it's kind of a dime a dozen
type of business in my mind, and it's just like
a volume. It's like there's no no thought process in
it anymore. And so I got into doing commercial loans,

(07:05):
multi family construction, and through that I found SBA Financing
about eight years ago, and I self taught myself and
I joined National Association at Government Guaranteed Lenders. I've been
through a lot of their training courses. I'm in a
roundtable of SBA loan brokers. I'm really kind of self taught.
I figured out how to place steals because SBA doesn't
make the loans. They guarantee a portional loan. But SBA, well,

(07:28):
the reason I love it is because it's like the
most it's the best loan product out there if you
understand how to use it to create wealth. And through
SBA financing, people would come to me and say, hey, bo,
I'm trying to, you know, finance this pretzel franchise. And
I'd always go, well, why this franchise? Well, we like
any ends, pretzels or whatever it was, And so I
got some understanding. Then I found out there's franchise brokers

(07:50):
and I ended up getting mentored and I joined a
franchise brokers association and I learned the business. So now
I funded. I find in fun businesses for people. So
I do a combination of SBA loan brokering and actually
this year I won an award from Coleman, which is
a big name in SBA. I won Coleman SBA Loan
Broker the Year. And I help people find franchising franchises

(08:15):
and so I really enjoy the dynamic of the franchise business.
I'm forty seven. Now I wish I could go back
and would have known about the franchise industry because it's
very dynamic. Most of us think about franchises like subway
and Jersey Mike Subs. Most of the franchises we work
with are non food franchises, although we have some inventory.

Speaker 1 (08:34):
There's well over three.

Speaker 2 (08:35):
Thousand franchises in the US, some good, some bad. On
top of that, I've gotten a lot of experience from
doing business acquisition financing SBA creative financing. I've put equity
in deals myself as a minority owner, so if you
own less than twenty percent, you don't have to go
on the loan and be a guaranteur. So somehow I
got in a business. Now I own one hundred and

(08:57):
ten boat slips in a restaurant in the middle of nowhere.
In the middle of nowhere, but it's fun and you
can really create wealth as you As you start a
business and you get some good financials behind you, you can
get one hundred percent on expansion. So that's kind of it.
I forgot to mention. Twenty thirteen, I got casted for
a TV show. I did a house flip flipping show

(09:17):
on HTTV. It was called Flip It to Win It.
That was a really cool experience. I did twelve episodes.
Over time, I started a podcast and like to share information,
but the last five to eight years. It's really been
focused on business lending and franchising, and that's really what
I love, and I love helping people. You know, my

(09:38):
mission now is to help one hundred thousand aspiring entrepreneurs
become successful business owners, whether that's me guesting on a
podcast or me talking to people what I want. So
that's really my mission. When I got clear on my mission,
my business just exploded.

Speaker 3 (09:51):
It's awesome. We have a lot of similarity in the background.
I did join the military. I lived in the Bay
Area for a little while. I lived in Redwood City,
work all over the Bay Area down at San Jose
to San Francisco, and then now I live up in
the Redwood Forest north of that about sixty five miles
due north of San Francisco. So I just moved back

(10:11):
a couple of years ago. I have a real estate background.
During when it all went tits up for you in
two thousand and eight, we created a firm that stopped
foreclosures and bought homes from foreclosed people, people who are
being going through product rooms. Back then, you could do
You can't really do it much now. It's tougher to
do anyway. Back then you could do what's called investor

(10:31):
back short cells. So you could basically put an offer
in on a short sale, a hire a team to
negotiate the process on your behalf, and then if you
ended up the highest bidder at the end of the process,
you could buy a house fairly reasonable. So by twenty
seventeen it became so regulated it was like a pain

(10:52):
in a month to get it done. Half the deals
we couldn't even close on because you know, they invest
the bank would say they wouldn't sell to investors us.
We just couldn't work with anymore. And our profit margin
on average if we didn't flip when we just sold
them to other investors and we you know, held on
a cherry pick the ones we liked. We were averaging
about fourteen thousand dollars per deal to and when we started,

(11:14):
so you know, we did hundreds of houses. I won't
say the exact number, but we did quite a few
in that timeframe. We had a huge, huge operation. By
the end, it was like I want to say, it
was like four thousand just s I have four thousand
dollars per transaction and you put all the man hours
it took to do a short sell. It could take
six months to eighteen months to do one, and the
number of team members and stuff. I think we boiled

(11:35):
it down to it was making twenty bucks an hour,
and we were paying in some of the people, you know,
some of the stuff more than that. Some of it.
It just wasn't worth it. Like I could go be
a door gread, you know, had a home depot for
twenty bucks an hour and have a lot less risk.
So I ended up selling that or transferring that to
my business partner. He wanted to keep running it. I
did my own thing, and then I got into this

(11:58):
space after the real estate thing. I still own some
real estate, but it's it's a minority thing now very cool.

Speaker 2 (12:04):
Yeah, I just sold I hit a bunch of houses
in Indiana because I've tried everything flipping houses. And then
I'm like, got the bright idea to buy houses in
the Midwest because it was so cheap. But then You're like, well,
it doesn't really make sense because cash flow is really
a myth when you're buying houses that are built in
the early nineteen hundreds, right, there's even when you rehab them,
you have so much capax. So I'm like, Okay, I

(12:25):
got them so cheap and I sold them made a profit.
But really, now I want to own stuff that's closer
to me unless it's a bigger deal where I'm an
LP or you know, somebody else's running the show. So
that's my forte and I really like, I feel like
if cash flow is your objective, then business ownership in
some capacity is a better way for cash flow. Well,

(12:46):
real estate is where you park your money for that
long term wealth creation.

Speaker 3 (12:49):
Yeah, there's some great tax benefits and stuff, and I
wouldn't mind if I went back into it. I'd do
what you have right now. I would do I call
the mobile trailer parks right Marinas in mobile home community
and stuff like that. The cash flows insane. Still get
a lot of the tax benefits and stuff like that.
So that's where I would maybe even there's so expensive

(13:10):
right now, but even like self storage and stuff like that,
where there's a constant recurring cash low and it's a
lot less headaches and you know than the individual real
estate market. So many years ago, I kind of made
a mistake and all of our properties we owned. I
got frustrated with being a tenant, area a man, a
property manager, so I sold everything owner finance. I financed

(13:35):
every single property I had owner finance, and the problem
with that was is the market heated up and a
lot of those guys the values of those houses shot
up and they could go out and refinance. Stop to
do a cash out equity refinance. So what I thought
was a retirement plan. I'm going to have money for
the next twenty twenty five thirty years because I had
all these mortgages with people owned me money on. Yeah,
I got these checks ten thousand here, fifteen, twenty thousand

(13:56):
dollars equity there. But the long haul plan was that
you know there can continue paying me, you know, ten
to eleven percent for the next thirty years. So I
ended up where, you know, I went from dozens of
homes to just a few to just like very few,
and uh so you know, like they come up with,
oh I got to have another game plan. So that's

(14:17):
how I kind of got into this space. Man. So, uh,
now you do you still do SBA loans on top
of the yes? Cool?

Speaker 1 (14:25):
Yep.

Speaker 2 (14:25):
So yeah, every every day that's all I do with people.
Book calls and it's like, hey, I'm trying to buy
this RV park. Okay, we'll get to taxi turns because
if you want a business loan, we underwrite off TAXI
turns for sp But yeah, I do that all day long.

Speaker 3 (14:38):
Okay, So somebody calls you and they're like, hey, I
want to own a business and I want to get
into you know, maybe just franchise things, maybe something else.
What is the process you walk somebody through to figure out,
you know, which franchise is right for them or which
business model if it's not a franchise is right for them.

Speaker 2 (14:57):
So usually there's a combinations. Some people are more open
to franchises versus some people just want to do a
business acquisition non franchise.

Speaker 1 (15:04):
So I can help everybody.

Speaker 2 (15:06):
So oftentimes what I find is I get a call
somebody heard me on a podcast or watch me on
YouTube and they're like, hey, I saw you on Jordan's
podcast about buying a laundromat, and I'm like great. Most
of them aren't going to be SPA financiable because they
don't report any income and you need income to qualify
and we underwrite off tax returns.

Speaker 1 (15:24):
So then like two years later.

Speaker 2 (15:25):
They call me back and they're like, ah, man, I
can't find a business to buy. I go well, and
I always say, have you thought about a franchise?

Speaker 1 (15:32):
Right?

Speaker 2 (15:32):
So, I don't care if you want to do a
business acquisition, non franchise, franchise resale.

Speaker 1 (15:37):
I want to help you.

Speaker 2 (15:38):
And so what I've been working with lately are people
that are coming to me and they're in corporate. Usually
they're in tech or they're in medical sales. They do
fairly well, and they're like, look, I'm you know, a
combined salary between me and my spouse is five hundred grand.
I live in California. The only problem is I have
no money left over after I paid taxes. And I'm like, okay, well,

(15:58):
that's why you need to own an operating business, because
there's no better tax strategies unless you're maybe considered a
real estate professional and you spend a destinated amount of time.

Speaker 1 (16:08):
Owning an operating.

Speaker 2 (16:09):
Business is by far the best way to offset income
and then then create self directed retirement vehicles. So you know, like,
for example, some people I call it a gateway business,
like vending business. I work with a business opportunity. They
help you grow a vending business. Right, you buy one
hundred thousand dollars of vending machines, you can write off
that section one seventy nine. Guys, I'm not a CPA,

(16:30):
by the way, or a tax attorney, but consult one.
And so if you're making a bunch of earned income,
you want to get a bunch of you want to
get a business that has a lot of offsets, and
I find that to be the case. Now, the problem
I've run into as I take people through my process,
I give them actually an assessment. It's like a disc
profile on steroids. It was created by a lady named Rebecca,

(16:53):
and she created is called a Zorracle profile. So I
have people take it. It, emails me a copy, emails them
a copy. Really gives me some insight on their skills,
and it helps us scientifically place them with the right
franchises based on some of the way they answer the assessment.
So that's one of the parts of the assessment. Then
we get on Zoom and we talk it out. What

(17:16):
are your hobbies, What do you like about what you do?
What do you think your real skill sets are? Also,
do youff capital, well, maybe they're low liquidity. I can
help pretty much anybody. If you got a six eighty
credit score, you got a little bit of outside income
that comes in you're a US citizen or you're a
permanent resident of the United States, and you have enough

(17:36):
for the down payment, I can get you into business.
For example, I work with a guy and he bought
a startup painting franchise. He did gut our sales and
was doing quite well. He made about one hundred grand
a year. But he was like, I'm not getting ahead right,
I'm working for somebody else. We found him a painting franchise,
and one of the banks I work with in the
Midwest will do ninety percent loan to cost on a

(17:59):
startup franchise. Most of them are about eighty percent, but
this bank, if it's a smaller ticket, so it's total
startup cost with working capital, franchise fee and everything is
one hundred and twenty grand, so twelve thousand dollars down.
He's in business now. He's crushing it, right. And so
I look at somebody like that where he needs to
own a business, and then I look at other people

(18:20):
that are a different situation where they have a tax problem.
They make five, six, seven, eight hundred thousand. I have
one candidate I'm working with right now. He sent me
his w two two million dollars a year taxes, I
mean two million dollars a year. W two paid a
million dollars in taxes. All these people needs tax strategy

(18:40):
and they don't really have an income problem. So depending
on the candidate, when I talk to him, then I
kind of assess which way to go with them and
the conversations we have, and I'm just really here to
help if I could save somebody some money somehow. I mean,
sometimes people call me and I take them through some
business models. I had an anesthesiologist a couple of weeks ago.
He's like, hey, I'm going to put this franchise search

(19:02):
on pause. And I emailed them back. I go, probably
too much work than you thought, right, And he's like, yeah,
I need something more passive. So you know the next
phase of my business, which is is going to be
all about helping people on that spectrum, because that's how
I've grown my business, Like I learned about something and
then I help, and then I have all these people
over here that's saying, hey, bo, we need something to

(19:24):
offset income like earned income. So that's going to be
something and I'm developing that business right now, which is
called offset income, which will help those type of people
and then, so I wanted to just help as people
come to me, be able to help them. And I
find like that's what I've done. My whole career has
just really been helpful.

Speaker 1 (19:42):
Yeah.

Speaker 3 (19:42):
I have a few friends that are doctors and chiropractors
and stuff, and you know, they used to private land
for me when I was doing real estate. You know,
whenever I run tight on cash and I needed a
lind or, I always had people I could call and
they wouldn't literally wire money into my account overnight within
an hour. They would just wire to me and then
I do the paperwork and make sure they're covered in
case something happened to me. But now you know, I

(20:04):
have a short roll of decks of people I could
just call it, you know, on a blink of an
eye and say, hey, about to buy a house. I
need another one hundred grand and they would say, okay,
I'll send it to you, and you know, stop buying tomorrow.

Speaker 1 (20:13):
With the paperwork.

Speaker 3 (20:14):
Right. So I had deep relationships with them, But one
of the biggest problems they have is like, look this,
like this isn't working for them because they didn't need
the income, right, they needed you know, the that they
needed tax offsets. So uh, you know, they were always
looking for something where they can reduce their tax burden.
So yeah, I can see where that is a problem.

(20:35):
I personally haven't hit that spot yet because I had
a roll out of real estate, so I've always had,
you know that that to to to lean on. Now
there's two different types of like there's in my mind,
there are two different types of you know, somebody who
buying a franchise. When I first got into the space,
I thought, well, you buy a franchise, you got to go,
you know, fit out of space, model it out, make

(20:56):
it match, you know, buy the location and everything. But
there's a lot of people retired out of than selling
franchises that are up running profitable and you know, as
with an SBA loan, you can buy those two.

Speaker 2 (21:08):
Right, Yeah, so franchise resales, So get up to ninety
percent financing. If you let's say you had an HVAC
business and you wanted to buy another franchise HVAC business
and you've been in business for two years, you can
get one hundred percent financing to do roll ups now
up to five million dollar aggregate. That hasn't changed since

(21:28):
twenty ten with the new we have a new SBA administrator,
Kelly Loffler I believe her name is. So the predictions are,
we're going to move that five million dollar and I'm
crossing my finger as we go from five million dollars
to ten million dollars. So you're gonna be able to
do a lot bigger transactions pretty soon, maybe at seven
and a half. But it hasn't changed since twenty ten,

(21:48):
and we're like, what, I get a lot of big
deals and it's like, hey, we're trying to do this
acquisition at nine or ten million, and we're only we're
capped at five million SBA seven A. I can do
a pair of pursue so I can do up to
like another two and a half conventional piece with it,
but you know, you're still short. So if we can
move that SBA number up, and that's going to be awesome.
So I think within the next two years we're going

(22:09):
to see either seven and a half or ten million.

Speaker 3 (22:11):
I've been trying for two and a half years to
get somebody from the SBA in authority that has a
you know, one of the decision makers on the show,
because I honestly think there's there's been always been a
big gap from that five million to round a ten
million dollar purchase price because that makes the business owners
hard to sell. It's hard for them to find any

(22:33):
type of financing bank or even pe that wants to
dip down in that five to ten million, like you know,
you said you can get them to seven or eight, right,
or six or seven From seven, that's probably ten to fifteen.
That's a kind of a NOMA zone because the big
institutional lenders don't want to lend that small it's not
enough money to move their needle. The private family offices

(22:54):
don't want to touch it because it's too small to
move the needle. And private equity won't back you into
a sponsor deal on it because it doesn't move the
needle unless they already have a play in there. And
you're just one of a roll up, right, So you
you end up with a pool of businesses that just
have a rough time, a harder time getting sold because
they're in that zone. And I really think there should

(23:15):
be a play, you know, I think the SBA had
to go quite a bit higher. I think they had
to go to seven or eight million dollars natural like
the same way they have now with ninety percent financing,
and I think they a ninety percent guarantee or whatever
they guarantee, I think they should draw it back after that,
so they should be I'd love to see them go
like say seven million, at the same level they are now,

(23:36):
and then when they go to ten million, they'll do
say twenty you know, seventy five percent of it, and
then at fifteen million they'll do fifty percent because then
the baks might take that risk. Right if they got
fifty percent of it guaranteed by the SPA, you know,
it takes fifty percent of that burden off them. I
think we would have some banks that would open up
and be more interested in some of those plays.

Speaker 2 (23:56):
Yeah, I mean that there's the seven A SPA seven A,
and there's also the five O four for real estate
deals where you can do deals that are like twenty
million dollars, but that's just real estate type plays. Banks
are pretty There's there's such a difference in banks, right,
So you have you have plps, which are preferred lenders
for the SBA program. They're either banks, credit unions, and
some non bank SBA lenders.

Speaker 1 (24:17):
But you can go to one.

Speaker 2 (24:18):
Bank and you can bring one deal like I had
a startup laundry Matt for example, no real estate, had
no experience. I was able to get them eighty five
percent financing. It was a million two total product costs
whenever I funded like a million twenty two thousand, and so,
like where else are you going to get that money?
And he didn't have any collateral either, So anytime the
loan's over five hundred thousand, unless there's real estate involve

(24:40):
there's always gonna be alatal shortfall. We SPA guidelines, we
have to look for additional collateral, which I kind of
find that's not fair because if a bank's willing to
do the deal without collateral, but you're you're almost getting
penalized because you have equity. Now, if you're in Texas,
they have the Texas equity law, they can't collateralize your house,
but in other states they can. So I think that's
kind of a hindrance. Like your me because I own

(25:02):
ten rental properties and putting leans on to make up
for the cloudal shortfall versus hey, I'm buying a cash
flow of business. So that's one thing I don't like
about it. It's like it doesn't make sense for somebody
that owns a lot of real estate versus somebody that, hey,
I found a good business. And because banks will do
airball deals, they'll do five million dollar airball deals with
no collateral some of them.

Speaker 1 (25:21):
It's just pretty crazy.

Speaker 3 (25:22):
Yeah, that's one of the reasons that I've never even
been interested in whatsoever an SBA loan, because I don't
want to collateralize, you know, existing real estate that I own.
As a matter of fact, I go through great links
to put them all in trust and everything else so
that they're individually wrapped up and you know, protected from
somebody slipping falling at one and getting the others. The
last thing I want to do is have something that
bridges all those individual trusts that I own and says

(25:46):
I got you know, first position on all all your properties.

Speaker 2 (25:49):
Well, if you're buying like an RV park, as long
as your loan amounts under eighty five percent of the
stabilized value, there's there's never gonna be a cloudal shotfall.
They won't go after or if you do a five
oh four. So I personally like businesses with real estate
because I like real estate. I like businesses, so self storage,
RV parks, I'm doing I'm working on a deal right now,

(26:10):
and it's an RV park that's like been kind of
abandoned and the guy's not running it, and so the
gentleman's coming in. He's putting thirteen tiny homes on it.
It's waterfront, and then he's going to do it's actually
gonna build out a marina. So you can do really
cool stuff. The one thing also, if you're doing a
real estate play and it's like a business like that,
if it's in a rural area, we can use the

(26:30):
USDA be an I loan and we can do deals
up to twenty five million with that as long as
it has the one to one clatteralization. So it's pretty
amazing well.

Speaker 3 (26:40):
On the USDA. I have a friend that used to
do that for assistant living facilities. He would, you know
a lot of people want to set up your assisted
living facilities out where it's beautiful, so the USDA loans
would be appropriate, right so near a lake or there
a view of some sort. And he helped facilitate those loans.
And so I know a little bit about that. What's

(27:01):
the credit score for something like those products?

Speaker 1 (27:04):
Rule thumb six to eighty are better six eighty.

Speaker 3 (27:07):
Are better, so you gotta have that's that's better than fair, right,
that's average credits. Right.

Speaker 2 (27:12):
So yeah, I have a whole strategy on credit because
I used to do when I was house flipping.

Speaker 1 (27:17):
I learned this the hard way. Of course.

Speaker 2 (27:20):
I thought the rehab budget was gonna be fifty thousand dollars.
It ended up being one hundred grand, right, And I'm like,
I know I don't have the cash right now, so
I use my personal credit. What happens, your scores go down?
So I strategize. Now I have multiple LLC's with multiple
credit lines. I charge those up. Those don't show up
on my personal credit time and time again. Actually, I
was on a call this morning with a chiropractor and

(27:41):
he was like, yeah, I have like my scores got down.
I'm down to like a six eighteen because it's all utilization.
And I sat him down. I'm like, he's like, I'm
kind of stuck. I'm like, okay, well here's how we'll
fix it. We're gonna do like a revenue base loan
on your on your chiropractic business, will pay down your
personal credit.

Speaker 1 (27:57):
We'll get your scores up to seven forty. Leave him
at seven forty.

Speaker 2 (28:00):
Play the game keep your credit pristine, because then people
want to give you money.

Speaker 1 (28:04):
People want to give.

Speaker 2 (28:05):
Money to people that don't need it, right, And that's
the kind of the key with the credit too.

Speaker 3 (28:09):
Nobody wants to feed the needy. Yeah, I get it.
I I personally never mess with mine. I actually filed
bankruptcy years ago after a forced into it by a
bad business partner. Basically he said, you know, he promised
to pay a certain wage and salary and a percentage
of ownership and then he, you know, slow paid me

(28:30):
on a bunch of stuff. And I was like, look, dude,
I got obligations, and he said, he said, I'm tired
of hearing it filed bunk bankruptcy on it, or I'm
going to kick you out of the company. So I
kind of got pushed into it. I did file, but
they missed a couple of things, and you know, I've
never dealt with fixing them. So those those two or
three things they missed or continuously try to do something.
So my score got beat up and I paid cash

(28:52):
for everything I owned, so I've never like tried to
fix it. So h pay cash for our car, shower house,
everything we owned. I paid cash in because I had
these business and stuff. Yeah, I think these days, I'm
fifty three, I keep looking at you know, I probably
should dive into this and figure out how to rebuild it,
do something, because there's been a couple of times where
it would have been very useful, right a couple especially
in these business transaction SBA loans. It might be useful

(29:14):
if I, you know, could could use that, but I'm
not in a stage where it could be used.

Speaker 1 (29:19):
Yeah.

Speaker 2 (29:20):
I realized that after the downturn of two thousand and
seven eight, And I'm like, now, I really like it
because I can, like if an opportunity, if you don't
have a ton of cash, you have to leverage opm
other people's money, or you gotta or or learn how
to build credit and get these credit lines and move
money around from credit. And so I like having that freedom,
Like right now, I probably have three hundred thousand dollars
of available credit, not that I'm using it, but if

(29:43):
something drops on my lap, I want to be able
to attack or somebody says, hey, bo, I'm buying this business.
It's a great deal. I need I need fifty grand
to close. I'll give you fifteen percent ownership. Those are
the type of deals I want to do, right, I
always want to have, you know, And it's hard to
keep a lot of cash lying around. Let's say I said,
if you have real estate, you have expenses. That's all.
That's one reason I do love real estate because once

(30:05):
you park your money in it, like it's not like
you can get it tomorrow, you know. I mean, if
you have some private lenders, they'll put a lean against it.
But like it's almost like a forced savings for me
to have real estate. A I'm just paying the mortgage
and you know, the rent breaks even or whatever happens.
That's the and it's just like over time, twenty years
from now, ten years from now. The first house I bought,
for example, I look back, I go, why did I

(30:27):
ever saw that thing? It was in San Ramon, California.

Speaker 1 (30:29):
I owned. It was like a duet.

Speaker 2 (30:30):
I owned one side. I bought on a lease option
when I was like twenty two, and I like, it
was a sweet, sweet deal.

Speaker 1 (30:36):
I bought it.

Speaker 2 (30:37):
I think my my price was three twenty five at
a price at three seventy five. A year later when
I exercised my lease option, and as I made fifty
grand you know, of equity and like that probably today
is one point two million, you know, And I was
like I should have and then I moved to Tahoe.
I should have never sold it to my brother as
I got.

Speaker 3 (30:55):
Yeah, it's actually it's changed a lot. Back when our
grandparents were around, there was no credit score, right. You know,
your word was your bond, your family's word. Your family's
integrity is what the bang leaned on. So you know
which was good and bad in things if you had
you know, if you've got unlucky in an infinite family
with financial issues, your bank wouldn't trust you because your

(31:17):
family was no good at you know, managing money. And
the way they looked at it is you're going to
learn your skills from them. Right. But I to some extent,
I think there's a lot missing inside of the world
of business in the traditional way that ethics were. You know,
a person's word was their bond. It's changed a lot

(31:39):
of people these days. I asked, you know, people all
the time, if if I if we sitting here talking
and you make a promise to me, who's responsible for
fulfilling the promise or making sure it happens? Right? And
they get it wrong ninety five percent of the time.
If I accept your promise to me, then I've accepted
the accountability of holding you to it, holding you to
your word. And if more people looked at it that way, like,

(32:01):
you know, it would be a different world. Right When
when when somebody says, I'll promise to do something by
five pm tomorrow, right at four forty five, I'm gonna say,
I haven't seen that yet. Where you at what's going on? Well,
it's like, you know, this is no, no, no, you
said you'd have it done by this time at this time.
You know, how can I help you get there?

Speaker 1 (32:22):
Right?

Speaker 3 (32:22):
I'll hold you know, if more people held to others
to account, you know. And there's many times I'll just
tell people like, Okay, I hear what you said, but
I'm not accepting your promise. You're your guarantee because I
don't want to hold you account for that. I'm not.
I have no staking interest in, you know, making sure
you get to that point right. A lot of times
somebody like because it's just throwing around so commonly these

(32:44):
days where people will make a promise or you know
that said, nobody holds anybody to account anymore. We just
kind of passively figure out that everybody's kind of white
lying on everything they do, and that's that's hurt. That's
hurt the way businesses run, I really think. So anyway,
let's move to kind of the process that I want

(33:06):
to understand. What there's three thousand type of franchises. Some
of them probably are more of a kind of like
a glorified job as I like to say it, and
some of them you could really turn into something and
be multi own multi franchises and actually build true value,
true wealth in it. What are some of your favorite

(33:28):
franchise models where you think somebody could build substantial wealth.

Speaker 1 (33:31):
In Yeah, so I like recurring revenue.

Speaker 2 (33:34):
So pest Control, I work with a brand they do
residential commercial and they also have a government contracts division.
They've been around since eighty eight or so, so they
actually help you procure in your market government contracts. So
I like that for recurring revenue. I think that's a
great business model. There's a lot of good subcontractor models,
Like there's a new emerging brand that does they're the

(33:56):
only company that does commercial painting and they use subcontractors.
It's very lean business, but that would be for a
business like that, you have to be a kind of
a business development person because you're you need an OPS person.
You need a business development person in that business, but
you only need two people. The painters are subcontractors. They
have it dialed in obviously without a lot of overhead.

(34:20):
You have your contract labor and your marketing spend, and
your your your one or two staff. So I like
businesses like that. I don't want a bunch of employees. Now,
are there other business models that you so b to
B businesses and home service restoration companies, HVAC plumbing. All
these type of businesses are potentially good. I don't think
it's good for everybody. That's why we have to take

(34:41):
them through the assessment first and go okay, like what
makes sense? We have payroll staffing companies. We have a
business opportunity that does medical staffing where you do permanent
placements and temporary staffing. You know, those businesses are very good.
You can a lot of the businesses. You don't need
a brick and mortar location either. So I like low overhead,

(35:01):
low employee count, great great margins. Right, And because you're
like if I go and build, we have laundrymat franchises. Right,
But if I'm doing a laundry mat franchise, it's gonna
be I'm gonna be in a a million, a million, two,
a million, four, So your ROI is gonna come slower. Now,
once that's stabilized, you got a good you know, it's
a simple business to run, but you need three hundred

(35:24):
grand liquid to go there, versus like I have business
models that are one hundred to two hundred thousand, So
for for anywhere from ten to forty grand, out of
pocket leveraging, SPA financing, you can get into these businesses.
So there's really a lot of really cool businesses. There's
a lot of niche businesses too, like claims adjusting businesses.
Of course, there's brick and mortar. There's health and wellness businesses.

(35:46):
There's there's waxing businesses, there's you know, gyms, there's I mean,
really pretty much everything. I mean, the franchising sector with
employees and everything, brings in eight last year was seven
hundred and sixty three billion dollars to the GDP something
crazy like that. It was a lot bigger than I
ever expected to be such a large industry. Most of

(36:09):
us just think about the brick and mortar subways of
the world. But there's such a bit there. Once I
got into it, it really blew my mind. So I'm always
looking different business models, like what do I want to
invest in? And some are more scalable by you own
more territories. Some of them are brick and mortar very
simply put a GM in to run. We have a
painting company that we work with and they have something

(36:31):
called a CEO model non brick and mortar subcontractor business model.
You hire a regional directory in each territory, they hire
a manager and that type of business model once you
get it up and running, that's more geared for a
passive a semi passive investment. So there's different options, not
just owner operator, but businesses usually run better and your

(36:53):
margins are better if you have an owner that's operating
the business.

Speaker 3 (36:57):
I know a little bit about the painting industry. So
my father was a painter. He worked at a paint
manufacturer and where they made paint for forty four years
before he passed. I ran his painting business from the
time I was sixteen until I joined the military at
twenty and a like I'll give you this kind of
a scale. At our busiest summer, our best summer, we

(37:18):
painted one hundred and eighty seven homes. And when I
call summer, it's basically the Oklahoma season to paint, so
early spring to late fall when when you can paint
outside before it gets too hot, too wet, or too cold.
Right during that season we painted, We had three crews,
sometimes four crews. We painted one hundred and eighty seven homes.
So we were pretty good sized, pretty busy, and I

(37:38):
ran it. My dad was when I was sixteen. I'd
worked for him for about three years of a time
I am about twelve, maybe four. About twelve or thirteen, I
started working for him, and by the time I was sixteen,
he had a minor heat stroke and he's like, hey,
you want to run this thing. You're smarter than me anyway,
you know. You know, Dad always thought it was pretty smart.
So like, so the first thing I had to do is,
you know, let go of a few people who wouldn't

(38:00):
want to work for a sixteen year old. But other
than that, we just did a bunch of painting. And
I never let anybody know we like, we never even
let anybody know how big it was right. We would uh,
like even the crews didn't know that there were three
or four other crews sometimes like just they worked on
their crew they did their houses, and we just we
kept it like that. And then just recently I owned

(38:22):
a pest control company. My one of my family members
wanted to get into the business and trying to talk
me into it. For a while. I kept telling him no.
And then one day, when I got into the merger
and acquisitions, I seen one for sale and it was
claiming it had twenty five thirty percent profit margins. Like
there's no way. Started doing the math. I was like,
wait a second, they do, so I called him back up.
We bought. We bought an existing company kind of, I

(38:44):
say it kind of because by the time we got
to doing due diligence, he wasn't following all the rules.
So I ended up couldn't hang my license on his.
I couldn't use his past control license. It was too risky.
So I went and took all the tests, and you know,
I just let him expire in December. But I had
all the licenses and everything we needed in Oklahoma, and
I was running at eighteen hundred miles away, so that

(39:06):
was my neputism company. Everybody that works there as are relative,
so cousins and uncles and stuff. But they're running it now.
I say, I sold it, but I just transfer my
interest to them, and I'm kind of helping them. They'll
send me money every once in a while, but I'm
helping them take it under their own wing. And great
business model, but just too much to one hundred percent

(39:26):
be a digital no matter run it remotely like that.
It wasn't big enough to do that with.

Speaker 2 (39:32):
Yeah, I mean really comes down to a sales and
marketing type of business when you think about it, and
then it's like what support are you getting from the franchise,
How they're helping you in your marketing? But usually they're
dialed in. Most brands are dialed in where they can
take somebody a franchise is. We're seeing a lot more
private equity too enfranchising.

Speaker 1 (39:50):
I mean, there's these.

Speaker 2 (39:51):
Big conglomerates like Neighborly, for example, owns nineteen home service franchise, right,
they have fifty five hundred locations, They do billions of
dollars in revenue authority brands all these big and then
there's a lot of private equity coming in. There's you know,
they're buying these you know, somebody owns ten territories of
a hva C business. These equity companies come in, I mean,

(40:13):
private equity comes in, same thing in single family houses. Right,
You see a lot of everything is changing when people
see opportunity to make money. These you know, large funds
and different things can take advantage of it. You know,
it's not my focus right now. I'm more of like
we the people like trying to help the aspiring entrepreneurs
or that you know, they's somebody who's looking to transition.

(40:36):
Not so much in the private equity space. I actually
have had some candidates that I'm working with, and they
will not do business if the franchise is owned by
private equity. They will not invest in a franchise. They
don't want it, you know. And so some people don't care.
But you know, there are a good amount of people like, look,
I've been squeezed out on other things with private equity
type of players, and I kind of get it. And

(40:57):
I think we as independent business owners or future business owners,
we do we got to kind of unite so everybody
still can have the American dream to own, to own
a nice home, to own a ranch and to own
their own business of some sort. And I truly believe
that everybody should own a business. Even if you have

(41:18):
a W two job, you should own some sort of
business because you get the best tax advantages you can.
You can develop self directed retirement accounts. It's not how
much money you make, it's what you keep. And that's
the bottom line. I talk to people all the time
making really good money, but they don't have a pot
to pee in because it's like, what's the point of
making five hundred grand a year with living in California

(41:40):
with no.

Speaker 1 (41:40):
Tax ride house?

Speaker 2 (41:41):
They don't do much better than somebody living in a
lower cost of area.

Speaker 1 (41:45):
Right.

Speaker 2 (41:45):
And so even me moving from California Walnut Creek, California
to like five years ago, like the different there was
a million dollar difference in buying the same house. I
could the house in Walnut Creek was a million dollars
more than it was here back in the day. Then
when I bought this house in Henderson, Nevada. And I
work for my home, so what do I care? And
I actually like the lifestyle better here, So I think,

(42:08):
like when we're thinking about these plans, like we got
to think five steps down the road, and it's not
all about people always talk about your net worth and everything.
To me, it's all about when you wake up in
the morning, how much money comes in passively or semi passively.
So because net worth relier, you can't really tap into
net worth that easily. But like, if you have a

(42:28):
consistent you know, ten fifteen, twenty, forty thousand dollars a
month coming in, you don't really need that much more money.
You can live a pretty good life as long as
you're not you know, you don't drive a lambou or whatever.
So that's the that's usually that kind of the avatar
person that's coming to me. Some of them are, you know, hot,
really high income earners, sixty you know, six hundred grand

(42:49):
a year, five.

Speaker 1 (42:50):
Hundred grand, four hundred grand, three hunder grand.

Speaker 2 (42:52):
You know, nowadays two hundred grand sounds like a lot
of money, but it's not a lot of money anymore.
Right when I was twenty years old, it seemed like, wow,
it's two hundred grand. But giving those people a roadmap
to understand, like the full financial picture, because most people
just go to school they learn like this and then
they have they have no other. They don't understand the

(43:13):
whole alternative space and how you could actually be a
deal orchestrator like back in the day, like you're a
deal orchestrator or engineer, you would put together these owner
finance deals with very little money and a pocket like
you can create anything nowadays. And that's what I love
about the business ownership part too. Million dollar business nine
hundred thousand dollars comes from the bank. You need one

(43:34):
hundred thousand dollars down payment. Seller can carry back on
full stand bys up to seven and a half percent
generally with some banks. So you need to come in
with twenty five grand to close. Okay, I don't have
the money. I mean, granted you have to check out
on paper, but uh, you know, I asked my dad, Hey, dad,
do you want to own five percent of the business.
I need twenty five grand. He puts deck. He puts
the equity injection in. So that right there, could could

(44:00):
that one business acquisition, right there could be the game
changer that takes you from your hundred thousand dollars w
two to one hundred thousand dollars. Is a business owner
where you can create equity in the company and grow revenues.
So I think that's amazing. That's why I love what
we do.

Speaker 3 (44:14):
So there's a lot of different people listening to the show.
They all do different things and stuff like that because
of what I do as a small following of us
or what they call themselves digital nomads and stuff, because
that's I travel around and I think either this summer
or next summer, I think we're talking about and going
to medicine and Columbia for the whole summer, right and

(44:35):
my son and the reason we didn't do it this
summer is my son and my wife created a business.
We looked around at franchises is actually but because he's fourteen,
one of the things we were worried about is like
any type of dangers and stuff, and the stuff they
were looking at with food businesses, they all required fryers
and stuff, and I just didn't think that was a
good idea for a fourteen year old. So anyway, their

(44:57):
food business isn't big enough yet to be sustaining and
have employees and stuff. Hopefully by next summer we'll have
two or three locations. They do food truck type of stuff,
two or three locations. Other people will be running those
and we can disappear for two to three months, and
that'll be the test. Is it running well enough on
its own right? Can we remotely zoom call people and
run our business from overseas with that actually happened to

(45:20):
you know, run to the warehouse or the commercial kitchen
and make sure the refrigerator stocked right. So, but my
fourteen year old wanted to be in business for himself,
so I paired him up with a wife. I funded it,
and they're they're often running, they're they're doing okay, so
they're profitable. But these different franchise models and stuff like that,

(45:40):
there were some really cool ones in there. It's just
because of you know, him being so young, we decided
to go away from it. So that's one of the
reasons I got on there. There was actually a mini
Donuts thing, which is similar to what they're doing, but
there was you know, the franchise actually had him on
the show, the guy that was they could sell them.

Speaker 1 (45:59):
He was.

Speaker 3 (46:00):
And there's there's multiple units of that doing you know,
high six figures.

Speaker 1 (46:03):
Out of these oh done, it might be doneut envy
or one of those yeah, yeah, one of those times.

Speaker 3 (46:07):
Yeah, there's multiple vendors of those that are doing you know,
high six figures, you know, pretty quickly. It was impressive.
That's kind of what got there. My son heard that episode,
heard him talking about, you know, high six figures selling
you know, mini Doda, dessert trade type of things, and
he says like, you know, hey, Dad, buy me a
franchise because he you know, he's looking around working at places.

(46:30):
We live in a resort area and they want to
pay him fifteen twenty dollars an hour, and he's like
that just isn't going to cut what he wants, right.
He wants to buy a two thousand dollars gaming station
and you know, buy expensive games and stuff, and he
didn't want to work all summer to do one.

Speaker 1 (46:44):
So that's that's powerful.

Speaker 2 (46:46):
I think when I have baby bo and he's ten
eleven months old, and it's like my vision for him
is when he graduates high school, he's got like a
vending business and he's got five ten grand a month
of cash flow coming in.

Speaker 3 (46:58):
We were looking at those.

Speaker 1 (47:00):
Yeah, yeah, I like vending.

Speaker 3 (47:02):
We live about probably we're a little remote. We're up
in the Redwood Forest up and you're down in the
Bay area. You ever come up into the vineyard area
for a vacation or anything up into Sanoma Valley and stuff.

Speaker 2 (47:13):
Yeah, I used to live in the Bay now in Vegas.
But yeah, I'm so oh yeah, yeah, sin I'm about beautiful.

Speaker 1 (47:18):
Yeah.

Speaker 3 (47:18):
So we live on the edge of Sinoma Valley, just
past the last vineyard up in Gurdonville. So we're fifteen
miles from the first fast food place. There are restaurants
in town, but I guess the kids want of McDonald's.
We got to go fifteen twenty miles, right, there's one
safeway over here. So when we were looking at vending routes,
it's like there wasn't any really profitable ones for selling anyway,

(47:40):
and to create one, like our first stop would probably
be fifteen miles, So it just didn't quite make sense yet.
So and then we're mobile. We need to be able
to go, so i'd have to write storage or a warehouse,
a store, you know, any type of supplies or anything
like that. So we don't have a garage or anything
to put stuff in. So that's why we chose what
we chose. And to be quite honest in the studio,
if I turned the camera a little but you'd see

(48:00):
all their cookers and all their equipments on a big
palette rack type of shelf they stuck in my studio.
That said, but I just want to see, you know,
different things. I would love to see this thing take off,
whether what they're doing and we franchise it out, we
actually go through that. You know, I know it's expensive.
I've seen I price that out. It can be one
hundred and hundred fifty thousand dollars to do all the

(48:21):
legal fees and set up a franchise, especially here in California.
But at some point i'd like to see that. Like
where we franchise it out, other people own. It's called
Miss Pearl's Pancake Paradise. But we created really cool logos
and brands and and and really did that. I'm a
marketing nerd, so I set them all up with you know,
you know, they're in full logo gear, tats and tea shirts.

(48:43):
People ask us all the time where we got our
franchise because it's all professional looking so awesome.

Speaker 1 (48:49):
I love that. I love I love what you're doing
with your family. I love you know. That's that's it.

Speaker 2 (48:54):
That's inspiring for other people that you know, like I
look at I want to go spend months in Mexico
because my my voice from there, and we got all
of her family there, and it's like just being that
free where you're not being able to run businesses, Like
my business can really run with me if I'm on
a computer, that's all I do all day, so I
can really move anywhere. I just I don't like to

(49:16):
travel that much, to be honest, I like my I
like my house, and I'm just very regiment like gym
in the morning and like this and that. But I
love I think if I built out like an RV
and I had my mobile office in there and I
could really that'd be a lot of fun. But I
like the area living in now. It's a beautiful area
I've I've been looking at. I'm looking at buying a

(49:37):
second home somewhere, and but I want something driving distance
to me here in late Las Vegas.

Speaker 1 (49:41):
I'm like looking at Lake Havasu because it's only.

Speaker 3 (49:43):
Two hours yeah.

Speaker 2 (49:46):
From here, so I don't know where, but it's it's
too hot. It gets hot as heck there, so yeah,
I'm already in the desert, so I want to buy
another desert house.

Speaker 1 (49:54):
I don't know.

Speaker 3 (49:57):
I'm not. I'm not a big fan of the heat.
That's one of the reasons. Like here, if it gets
too hot in the summer, the ocean keeps the air cool.
So if it hits ninety here, there's only like one
day a week or two days a week I mean summer,
maybe maybe two or four, four or five. Maybe there's
very few days of the summer where gets in the nineties.
I can literally get in my car, drive twelve miles.
We're twelve miles to the ocean, and the dirt temperature

(50:19):
drops twenty to twenty five degrees because that ocean water
comes from up north and it's fifty degrees no matter what.
So it's like a big thermal bank. It shuts it down.
And during the winter, when it gets down to the
thirties here, it never gets frozen. Here, rarely freezes, but
when it's thirty five to forty, it'll be fifty or
sixty over there because it brings the temperature up. So
you know, a lot of times we just drive to

(50:40):
the coast, drive up Highway one and stuff. So we're
running out of time here. Let's talk a lot about
about how people work with you. It sounds like you
told me just talk about the book you've got coming out.
What it's, what it's I think you're doing with pre sales.
Let's start with the book. How tell us about your book?

Speaker 2 (50:54):
Okay, So the book is called Paycheck to Freedom. It's
where we have pre s on Amazon. You can go there.
I don't have a builder out my website. The bookheits
launched March thirty first, I think, but it's called Patrick
to Freedom. Co authors Tom will Wright. He's actually Robert
Kiyosaki's CPA and they've written a lot of books together.
That's another story on how we connected. But he was

(51:17):
inspired by my mission of helping one hundred thousand aspiring
entrepreneurs become successful business owners. So that's coming out. That's
my first book. So I'm super excited about that. But
generally I don't really have anything at this time to
sell anybody. But I do offer consultation calls for people.
If you want to own a business or you need
SBA financing, then you'd probably want to talk to me,

(51:40):
and you just go to book with bo dot com
and BO is spelled b e a U book with
BO dot com. Go there our schedule a meeting. We
can help you find and fund your ideal business, whether
that's a franchise. We could talk to you about SBA
financing and a lot more. But thank you so much
for having me on the show. It's been a blast.

Speaker 3 (52:00):
Something you can help with the SBA financing, you can
help with some traditional stuff. You can help with real estate,
you know type of related you know, real estate related,
RV parks, mobile home communities, that type of stuff, and
even help with somebody's has find something a little rule
the USDA loan process, which that's a process in itself.
I have a friend who specialized in it, and that's

(52:21):
a that's that's I think it's probably tougher to get
the USDA loan underwritten than it is the SBA loan. Uh.
But if you've got that experience, it sounds like, uh,
you've got the great toolbox for people if they want
to do this to figure out, you know, not only
help them figure out what it is they want to own,
but help figure out how they're going to get the
acquisition done. Well, thank you for being here. Hang out

(52:42):
for a couple of minutes after we'll call this a show,
and uh think again.

Speaker 1 (52:46):
Thanks.

Speaker 3 (52:48):
Sponsored by Doudilio. Buying or selling a small business assimbly.
The right team is essential, and that's where Doudilio comes in.
They work with individuals, independent sponsors, family offices, private equity
firms and small medium businesses, helping you build the perfect
deal team for every stage of your acquisition or sale.
And the best part do Dilio's matching service is completely free.

(53:10):
Visit doudilio dot com today. It iss simble your winning
deal team

All Episodes

Episode Transcript

Popular Podcasts

Stuff You Should Know

Dateline NBC

On Purpose with Jay Shetty

.css-15opob5{left:0;position:absolute;top:0.8rem;} All Episodes

.css-14f5ked{margin:0;word-break:break-word;display:-webkit-box;-webkit-box-orient:vertical;box-orient:vertical;-webkit-line-clamp:2;overflow:hidden;}E272: How to Buy a Business with Almost No Money: SBA Loan Strategies & Franchise Goldmines

Episode Transcript

Popular Podcasts

.css-r6mb8g{margin:0;word-break:break-word;display:-webkit-box;-webkit-box-orient:vertical;box-orient:vertical;-webkit-line-clamp:1;overflow:hidden;}Stuff You Should Know

Dateline NBC

On Purpose with Jay Shetty

All Episodes

E272: How to Buy a Business with Almost No Money: SBA Loan Strategies & Franchise Goldmines

Stuff You Should Know