Recent content by backz
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Road to $100 Million
EXECUTIONQuick update: - 1 drop out LOI came back after we convinced the banks to offer more - Found a GREAT CEO candidate who can get the banks to increase their leverage by +35% - 3 more added into conversation to move to LOI quite shortly (aiming before end of month) With the bank leverage increase...- backz
- Post #29
- Forum: Process and Execution
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Road to $100 Million
EXECUTIONQuick update: 2 LOIs dropped out - structure or otherwise as issues, can be salvaged but not putting priority Closed another deal adding $2.8M in post-arbitraged value (after debt/notes paid) to the platform Sent out 4 offers this morning that'll be moving to LOI as soon as we can make them...- backz
- Post #28
- Forum: Process and Execution
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Road to $100 Million
EXECUTIONNo, follow the process. He lays out the process and steps quite clearly. You focus on those steps. When you are based on the US, you can sneeze and have people give you millions in credit. In Canada, not so much. But getting a commitment from a lender before a deal isn't even worth as much as a...- backz
- Post #27
- Forum: Process and Execution
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Exiting the Slowlane by Buying a Business
HOT! SLOWLANE EXECUTIONOne quick note, the multiples you have there for trades is super low compared to reality and current market.- backz
- Post #52
- Forum: Process and Execution
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Road to $100 Million
EXECUTIONPretty much, as long as that's your aim. My aim is far, far beyond what most look at as "FU money". You can have a few million and be in that mode. But that's small peanuts if you look at "what if" scenarios. Yes, won't make a difference. Pick your market well and you won't have issues. Pick...- backz
- Post #23
- Forum: Process and Execution
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Road to $100 Million
EXECUTIONIf you're scared of someone yelling profanity, you won't have a good time in this world. But some resources: Dan Pena Jeremy Harbour Jason Rogers Carl Allen (not the fluff shit he does though) Dan's the only one who touches mindset which is 99% of it, tactics are easily findable. Lots of...- backz
- Post #20
- Forum: Process and Execution
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Road to $100 Million
EXECUTION100%, agency is great for cashflow if you want to just be a millionaire and make $1-10m over your life. MASSIVE waste of my life spending +10 years on it for my aims. 1. Cold call, we push +200 dials/day 5 days a week 2. 1.4k connected calls 3. Google this, there's a lot of scripts out...- backz
- Post #16
- Forum: Process and Execution
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Road to $100 Million
EXECUTIONOne person I was connected to told me the reality - "you're playing a tiny game". Once I realized all these 6/7 figure folks are just small mindset dime a dozens, it hit like a hammer. $100k is what some people spend on breakfast. $1M is what some folks spend in a weekend like it's pocket...- backz
- Post #12
- Forum: Process and Execution
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Road to $100 Million
EXECUTIONUpdate: - Seller finance deal closing in a few days, good +500k net acquired for $0 + $10k closing costs (deferred) - Negotiating 2 earn out deals, similarly $0 upfront and $130k and $180k net respectively, these should close in under 60 days if accepted Busy season was slow, but now we've...- backz
- Post #10
- Forum: Process and Execution
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Road to $100 Million
EXECUTIONAs of the day after deal #1, though it's shite. Because it's not needed- backz
- Post #8
- Forum: Process and Execution
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Road to $100 Million
EXECUTIONQuick lay of the land update: 1 of the 4 LOIs dropped out - wanted too much cash 1 moved to pure seller finance (will close in 60 days max) 1 accepted low cash offer with the rest seller finance (will close in 70 days max) Lost 2 of the 3 deals that should have moved to LOI Had one new one...- backz
- Post #6
- Forum: Process and Execution
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Road to $100 Million
EXECUTIONYes, we got the deal team before deals. All Linkedin. Yes, it's garbage for debt deals. Great if you just have large checks to write (searchfund/equity model). I think we've paid our lawyers $5k or something to date. They're on financed and delayed fees. So we pay them next to nothing. But...- backz
- Post #5
- Forum: Process and Execution
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Road to $100 Million
EXECUTIONI know of a TON going on in europe. Just as easy. Debt only. No private money, no money from our team. Correct.- backz
- Post #3
- Forum: Process and Execution
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Exiting the Slowlane by Buying a Business
HOT! SLOWLANE EXECUTIONYes and no on debt service, even with 90% SBA, you can negotiate 12-24 month no payments or 24-36 month interest only terms and push out amoritzation. If you negotiate with the seller and bank well you can always have +50% cashflow free beyond debt service. And if you leverage a note on the 10%...- backz
- Post #33
- Forum: Process and Execution
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Exiting the Slowlane by Buying a Business
HOT! SLOWLANE EXECUTIONQuick 2 elements I just want to break down a bit here. 1) The financial aspect 2) The lifestyle aspect based on your last post 1) Financial In the current climate even with rate rises you can get away with way more leverage than just your equity being 35% depending on what makes sense for you...- backz
- Post #29
- Forum: Process and Execution
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