The Entrepreneur Forum | Financial Freedom | Starting a Business | Motivation | Money | Success

Welcome to the only entrepreneur forum dedicated to building life-changing wealth.

Build a Fastlane business. Earn real financial freedom. Join free.

Join over 80,000 entrepreneurs who have rejected the paradigm of mediocrity and said "NO!" to underpaid jobs, ascetic frugality, and suffocating savings rituals— learn how to build a Fastlane business that pays both freedom and lifestyle affluence.

Free registration at the forum removes this block.

Discuss acquisition entrepreneurship as a Fastlane launch point...

G

Guest-5ty5s4

Guest
Has anyone read Codie Sanchez's blog about private equity and/or buying businesses? Seems massively oversimplified, but also like the right track (acquisitions in general).

Can't believe the prices these "gurus" charge for courses, though.

MODERATOR NOTE:
Feel free to discuss acquisition entrepreneurship as a means for Fastlane entry...
Discuss business brokers, strategy, SBA loans, or more.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

MTF

Never give up
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
455%
May 1, 2011
7,560
34,430
Has anyone read Codie Sanchez's blog about private equity and/or buying businesses? Seems massively oversimplified, but also like the right track (acquisitions in general).

Can't believe the prices these "gurus" charge for courses, though.

I've been subscribed to her newsletter for a long time and she seems to be a person who knows her stuff.
 
G

Guest-5ty5s4

Guest
I've been subscribed to her newsletter for a long time and she seems to be a person who knows her stuff.
Yeah I follow her, she seems very smart. Really enjoy the content, just can't quite figure out how real it is (get sba loan and bam you're rich versus buying yourself a hellacious job)

She makes it sound so easy, and like everything can be solved by buying the course
 

MTF

Never give up
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
455%
May 1, 2011
7,560
34,430
Yeah I follow her, she seems very smart. Really enjoy the content, just can't quite figure out how real it is (get sba loan and bam you're rich versus buying yourself a hellacious job)

She makes it sound so easy, and like everything can be solved by buying the course

One thing that's working against her is IMO how smart she is. She does paint it as something super simple and easy. I think it might be easy for her because her background is in investment as far as I remember.

And in general, she seems to be way more business-savvy than 99% of entrepreneurs. It's sort of like Conor McGregor saying how easy and simple it is to knock out a world champion. Of course it is if you're already one lol.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

jdm667

Silver Contributor
FASTLANE INSIDER
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
216%
Jan 27, 2020
357
770
Boston, MA
Yeah I follow her, she seems very smart. Really enjoy the content, just can't quite figure out how real it is (get sba loan and bam you're rich versus buying yourself a hellacious job)

She makes it sound so easy, and like everything can be solved by buying the course
I follow her as well. I think the advice of buying an established company instead of building from scratch is good, but you're right - you still need to know how to run the business.

I think her content is helpful just to get ideas for inspiration and think more creatively. For a lot of that stuff, you will never hear about it if you only read mainstream financial advice (stocks! bonds! etc.)

The financing really has gotten ridiculous though. The SBA used to require 30% down for a loan, and now it is 10% down (5% if you are getting partial seller financing). From buythenbuild.com:

"Recent changes to SBA lending rules mean banks can now finance up to 90% of a small business purchase.

Buyers only need to put down 5% in cash now. (The other 5% can come in the form of seller financing.)"
 
G

Guest-5ty5s4

Guest
I follow her as well. I think the advice of buying an established company instead of building from scratch is good, but you're right - you still need to know how to run the business.

I think her content is helpful just to get ideas for inspiration and think more creatively. For a lot of that stuff, you will never hear about it if you only read mainstream financial advice (stocks! bonds! etc.)

The financing really has gotten ridiculous though. The SBA used to require 30% down for a loan, and now it is 10% down (5% if you are getting partial seller financing). From buythenbuild.com:

"Recent changes to SBA lending rules mean banks can now finance up to 90% of a small business purchase.

Buyers only need to put down 5% in cash now. (The other 5% can come in the form of seller financing.)"
That's actually the best part! The low down payment makes it really attractive and I would swear by this.

The part that is really iffy to me is where she starts going off on this acquisition and roll up track, like you're going to start accumulating dozens of these businesses... Just getting one to run without your daily oversight is going to be quite a feat, because most businesses and business owners are chained together.

However, that is the goal of the fastlane if there ever was one, as far as I can tell.

Usually if a business is truly absentee, it's going to be priced sky high from the beginning. Is this my limiting belief?
 

jdm667

Silver Contributor
FASTLANE INSIDER
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
216%
Jan 27, 2020
357
770
Boston, MA
Usually if a business is truly absentee, it's going to be priced sky high from the beginning. Is this my limiting belief?
I think this is true - I would value a business much higher if it is truly hands free. Especially if it has something that nobody else can replicate (for example, a proprietary software, not made public or sold to anyone else, to automate a process that is normally time-consuming).

I think your biggest opportunity to value-add is to use one of your existing skills that is compatible with the business.
  • If you know software, can you automate a tedious process?
  • If you know SEO/content marketing, can you bring in some new customers?
  • If you already have a related business/product, can you cross sell and increase revenue for both?
The part that is really iffy to me is where she starts going off on this acquisition and roll up track, like you're going to start accumulating dozens of these businesses... Just getting one to run without your daily oversight is going to be quite a feat, because most businesses and business owners are chained together.
I know, it sounds pie in the sky, but at the same time it is exciting. The first acquisition in a group of related companies is probably the toughest though.

After your first purchase, it would be much easier to apply the same optimization to other related ones. e.g. after specifying SOPs for your virtual assistants/employees, establishing relationships with vendors, etc., you can now use that over and over again.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.
G

Guest-5ty5s4

Guest
I think this is true - I would value a business much higher if it is truly hands free. Especially if it has something that nobody else can replicate (for example, a proprietary software, not made public or sold to anyone else, to automate a process that is normally time-consuming).

I think your biggest opportunity to value-add is to use one of your existing skills that is compatible with the business.
  • If you know software, can you automate a tedious process?
  • If you know SEO/content marketing, can you bring in some new customers?
  • If you already have a related business/product, can you cross sell and increase revenue for both?

I know, it sounds pie in the sky, but at the same time it is exciting. The first acquisition in a group of related companies is probably the toughest though.

After your first purchase, it would be much easier to apply the same optimization to other related ones. e.g. after specifying SOPs for your virtual assistants/employees, establishing relationships with vendors, etc., you can now use that over and over again.
Love it.

To me, this is really exciting.

I could see a nice path being someone working a job or side hustling their way to say, $100,000, and then leveraging this strategy to owning a business worth between $500,000 and $1 million and growing from there. (Through SBA loans)

Maybe even keeping the job or side hustle while starting out with the business.

However, monogamy is a really big probability driver of business success, and the absentee thing seems like unnecessary risk.
 

MJ DeMarco

I followed the science; all I found was money.
Staff member
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
445%
Jul 23, 2007
38,082
169,503
Utah
I moved your topic into a new thread as it deserves it, big topic for discussion.
 
G

Guest-5ty5s4

Guest
Ok, so I would actually totally do this if I were anyone reading this and was not already part of a business (I'm still researching this anyway).

Find a business to buy, get your financial house in order, talk to lenders, research SBA financing, make sure the business you are looking at either meets CENTS or could meet CENTS in the future, and then go for it!

I think this is an incredible opportunity and honestly it's one that's been bothering me too, despite being tied to what I said already.

That 10% down, even 5% down, potential is MASSIVE leverage to get you started on your fastlane journey.

We are talking about an investment where you could immediately have 10 times or 20 times leverage.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

BizyDad

Keep going. Keep growing.
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
416%
Oct 7, 2019
2,885
11,989
Phoenix AZ
I did not know the SBA adjustment. I wonder how many banks will allow this low a figure though. I mean, the SBA only pays the institution back a portion of the loan amount, so banks have real risk on these deals. Especially if its a business loan.

If you have experience in said business already, that makes it easier. But to use this to buy one a first business in an industry you have no experience? I'm guessing you'll have to put a lot more down or have some quality collateral like real estate in play to make it happen.

I'd be interested to hear from anyone who actually does one of these type deals.
 
Last edited:

Ismail941

Silver Contributor
FASTLANE INSIDER
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
108%
May 7, 2019
537
581
I am into her email newsletter. She does provide content insights about how to buy businesses and so on!
I think she preaches: Buy Existing business as Pennies on Dollars!
Her Mastermind was used to be $400 and they increased the price around $1500 a year
 

jdm667

Silver Contributor
FASTLANE INSIDER
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
216%
Jan 27, 2020
357
770
Boston, MA
I ddi not know the SBA adjustment. I wonder how many banks will allow this low a figure though. I mean, the SBA only pays the institution back a portion of the loan amount, so banks have real risk on these deals. Especially if its a business loan.

If you have experience in said business already, that makes it easier. But to use this to buy one a first business in an industry you have no experience? I'm guessing you'll have to put a lot more down or have some quality collateral like real estate in play to make it happen.

I'd be interested to hear from anyone who actually does one of these type deals.
*I have not done this type of deal myself yet, but looking into it seriously*

Lots of Baby Boomer entrepreneurs are retiring every day now. For many, their kids have neither the interest nor the aptitude to take over the company.

If the owner cannot sell the business, it closes up shop, and the asset is gone. I think the SBA is trying to prevent this - and at the same time, help Gen X/Millennials/Gen Z get into the entrepreneurship game.

@BizyDad I agree 100% - don't be the guy who "wants to work for himself", has no plan, and wants to put nothing down to buy a company.

Instead, be the guy willing to put some of his own money down, negotiate seller financing, take a 401K loan, etc. Do your research and create a solid plan to improve the business. Heck, apprentice under the old owner for 6-12 months while he stays on to teach you the ropes.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.
G

Guest-5ty5s4

Guest
also, industry experience is important, but with a good credit score, proof of broad generalized experience and work ethic, and a relationship with the bank, you can get approved. It's like those memes that slowlaners share about job resumes for entry-level positions requiring 20 years of experience... if that were the case, nobody would have those jobs.

Just do it.
 

CareCPA

Platinum Contributor
FASTLANE INSIDER
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
356%
May 2, 2017
976
3,479
35
Pennsylvania
This isn't quite what you're talking about, but I used a 7a loan to acquire another accounting firm in Q3 2020. One of the reasons I did it was that it had a great team in place, and that probably cut 4 years off my growth timeline.

The best part: since it was an "expansion" loan instead of an "acquisition" loan, I put 0% down, and was even able to wrap working capital into the loan as well (about 15% of the total acquisition).
I actually did end up getting a seller note as well, but that was because it under-appraised.
 

BizyDad

Keep going. Keep growing.
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
416%
Oct 7, 2019
2,885
11,989
Phoenix AZ
This isn't quite what you're talking about, but I used a 7a loan to acquire another accounting firm in Q3 2020. One of the reasons I did it was that it had a great team in place, and that probably cut 4 years off my growth timeline.

The best part: since it was an "expansion" loan instead of an "acquisition" loan, I put 0% down, and was even able to wrap working capital into the loan as well (about 15% of the total acquisition).
I actually did end up getting a seller note as well, but that was because it under-appraised.
Great tip. I'm looking at an acquisition right now to grow my marketing company, and hadn't considered going this route. Thanks.
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

jdm667

Silver Contributor
FASTLANE INSIDER
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Speedway Pass
User Power
Value/Post Ratio
216%
Jan 27, 2020
357
770
Boston, MA
The best part: since it was an "expansion" loan instead of an "acquisition" loan,
This sounds like a pretty cool ninja trick. Thank you for bringing it up.

So is this distinction a legal one, or just how the lender classifies it for their own records?

Also, how closely related does the other company have to be to your core business to be an expansion vs acquisition?
 

CareCPA

Platinum Contributor
FASTLANE INSIDER
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
356%
May 2, 2017
976
3,479
35
Pennsylvania
This sounds like a pretty cool ninja trick. Thank you for bringing it up.

So is this distinction a legal one, or just how the lender classifies it for their own records?

Also, how closely related does the other company have to be to your core business to be an expansion vs acquisition?
Unfortunately, I'm not 100% sure on the technicalities here. In my case, it was pretty cut and dry: accounting firm acquiring another accounting firm offering substantially the same services (bookkeeping, payroll, and tax).

I'm guessing the bank makes this determination, as they are the one that would need to be comfortable with 0% down. And just because it is an option probably doesn't mean each bank needs to offer it: the bank is still doing their own underwriting process as well.

But I didn't really have a choice: the non-SBA banks I talked to wouldn't loan since there were no hard assets to put a lien against. Worked out in my favor, though, because the SBA loan was 10 years at 6.5% (this is variable with a floor, so we'll see how the next couple years go), 0% down, plus working capital, SBA definitely worked out well for me.
It is a pain in the a$$ for underwriting, so make sure you have your documentation in order. They will all say they can close in 45-60 days, but that clock starts once they have all the documents in hand, and they can really drag out the document requests. Mine was about 5 months, but I also didn't get them stuff as fast as I probably could have.
 

Knuffix

Contributor
Read Fastlane!
Read Unscripted!
User Power
Value/Post Ratio
155%
Jul 25, 2014
33
51
32
This is a really interesting topic for me.

I'm actually on a seminar next month about Creative Acquisition Entrepreneurship by Jeremy Harbour (Harbour Club).

As in: Distressed Acquisitions, Sweat Equity Acquisitions, Reverse Mergers, Going Public.

Looking forward to learning more about this space!
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

100k

Gold Contributor
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
149%
Oct 20, 2012
1,529
2,284
I moved your topic into a new thread as it deserves it, big topic for discussion.
Luv your new avatar. #IStandWithWhateverTheMediaToldMeToStandWith

OP, check out this fella on youtube;

 

USN-Ken

Bronze Contributor
Speedway Pass
User Power
Value/Post Ratio
274%
Apr 21, 2015
103
282
45
Durant, Iowa
There is a killer thread right here in the forums on Acquisition Entrepreneurship using online businesses. I encourage you to read it.

I too get Codie’s newsletter and belong to her lowest level group. She is a great motivator and seems to walk the walk, but sometimes she does paint a pretty picture of things that I personally know aren’t ‘pretty’ (aka makes things seem easier than than they are). But, at least she is positive, supportive and encouraging.
 

USN-Ken

Bronze Contributor
Speedway Pass
User Power
Value/Post Ratio
274%
Apr 21, 2015
103
282
45
Durant, Iowa

That thread is (I dont know how to link it):​

From 0 To $240,000 Per Year PROFIT In 18 Months (Acquisition Entrepreneurship)​

 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

JB999

New Contributor
User Power
Value/Post Ratio
50%
Nov 10, 2015
2
1
SoCal
Has anyone read Codie Sanchez's blog about private equity and/or buying businesses? Seems massively oversimplified, but also like the right track (acquisitions in general).

Can't believe the prices these "gurus" charge for courses, though.

MODERATOR NOTE:
Feel free to discuss acquisition entrepreneurship as a means for Fastlane entry...
Discuss business brokers, strategy, SBA loans, or more.
Her math rarely adds up. With some of the mistakes I’ve seen her make in calculating net worth and cash flow from short term rentals I would not take any advice from her.
 

Two Dog

Silver Contributor
FASTLANE INSIDER
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
142%
Feb 15, 2022
436
620
I follow her as well. I think the advice of buying an established company instead of building from scratch is good, but you're right - you still need to know how to run the business.

I think her content is helpful just to get ideas for inspiration and think more creatively. For a lot of that stuff, you will never hear about it if you only read mainstream financial advice (stocks! bonds! etc.)

The financing really has gotten ridiculous though. The SBA used to require 30% down for a loan, and now it is 10% down (5% if you are getting partial seller financing). From buythenbuild.com:

"Recent changes to SBA lending rules mean banks can now finance up to 90% of a small business purchase.

Buyers only need to put down 5% in cash now. (The other 5% can come in the form of seller financing.)"
The SBA doesn't make loans. It partially guarantees loans issued by banks which will have their own lending criteria.

You'd need to find a lender with the same loose guidelines who's interesting in financing your deal. That means vetting experience, management ability, marketing expertise, balance sheets, cashflow - all those little things that help the bank avoid writing off bad debt. An SBA guarantee will not help a loan the bank wouldn't otherwise make on its own.
 

chimichangatime

Contributor
Read Fastlane!
User Power
Value/Post Ratio
178%
Mar 1, 2018
32
57
50
sacramento, ca
I get Codie Sanchez's emails, too. I'm on the fence. She has some great ideas but I'm not really willing to pay for her stuff.

She has a deal on AppSumo right now and the reviews are similar to what people are saying here - she's clearly knowledgeable but it's hard for any of us to take real action based on what she says.

What I DO like is the idea of buying an existing business. I like the idea of the contrarian, owning lots of revenue streams and getting out of the rat race (obvs or I wouldn't be here). What I ended up doing was spending money somewhere else to learn how to do this for businesses that make sense for MY skillset (I'm not interested in owning a car wash or laundromat right now).
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.
G

Guest-5ty5s4

Guest
I somewhat regret making this about one particular blogger rather than the acquisition model itself (although Codie does put out some pretty bad a$$ information in her blog from time to time)

The thing is, you need to make some money if you're going to go this route so that you have that down payment to buy the initial deal, and you need to find something that meets CENTS.

I would combine what Codie says with what MJ says and buy your way to Fastlane greatness :D
 

Two Dog

Silver Contributor
FASTLANE INSIDER
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
142%
Feb 15, 2022
436
620
She has a deal on AppSumo right now and the reviews are similar to what people are saying here - she's clearly knowledgeable but it's hard for any of us to take real action based on what she says.
Why is that? Serious question. It goes directly to exactly what are you buying and why from her.

Never heard of this girl myself, but have purchased coaching programs from three people over the years. Two local real estate people and a Google Adwords / online marketing guy to learn marketing for my own business. About $25K total between the three programs over two years. I also traded marketing services worth about $10K to learn how to raise private money from someone else. The entire point of those programs (at least from the student's perspective) is to partially duplicate the instructor's previous or current successes. Nowadays, I could easily run my own coaching programs in any of those four areas.

Both real estate people had done at least 10 - 20+ rehabs, ran their own investor meetups to trade deals, had solid networks of contractors and other necessary industry professionals and committed considerable face time to their students. The marketing guy was intimately familiar with Adwords, had studied copywriting with previously successful direct marketers and actively taught using automated email autoresponder campaigns at least 15 years ago. He was available weekly for live calls and email support at any time. The finance guy raised $50M over two decades and brought for companies public (not in the big Goldman Sachs IPO manner for a billion dollars, but the little known direct IPO or pink sheet swaps kind of deals for tens of millions). I worked in his office, so he was easy to ping with any questions.

My wife and I rehabbed and flipped a half dozen properties, ran several successful Adwords campaigns for my own online software and had fair success raising private capital. Those results easily paid for the programs along with far more cashflow over the years. I think that's only possible when you can work with someone directly who is highly knowledgeable in a particular niche of interest to you AT THE TIME. The majority of coaching students - also true for non-coaching students - will take little or no action to make something happen.

I invested 10 minutes watching Codie talk about the virtues of owning an automated ice machine business. There's little wrong with anything she says, but also nothing that I didn't already know or couldn't figure out pretty quickly. The BIG problem is she doesn't actually own such a business and never has in the past. That's not even a red flag, it's a complete non-starter. It's the guy in the bar talking about his great business idea. Maybe she has more relevant content available, but I'm not looking for new business ideas at the moment so it doesn't matter for me.

I only want to talk with people who will pro-actively explain all the things that I'm too ignorant to even know will be problems in the future because they've experienced them personally. Exactly the same as I'd do for anyone paying for my advice on real estate investing, direct marketing, raising capital, SaaS or logistics. Why in the world would anyone pay for advice otherwise?!?
 

rc08234

Bronze Contributor
Read Fastlane!
Speedway Pass
User Power
Value/Post Ratio
69%
Jun 29, 2011
320
221
34
South Jersey
Why is that? Serious question. It goes directly to exactly what are you buying and why from her.

Never heard of this girl myself, but have purchased coaching programs from three people over the years. Two local real estate people and a Google Adwords / online marketing guy to learn marketing for my own business. About $25K total between the three programs over two years. I also traded marketing services worth about $10K to learn how to raise private money from someone else. The entire point of those programs (at least from the student's perspective) is to partially duplicate the instructor's previous or current successes. Nowadays, I could easily run my own coaching programs in any of those four areas.

Both real estate people had done at least 10 - 20+ rehabs, ran their own investor meetups to trade deals, had solid networks of contractors and other necessary industry professionals and committed considerable face time to their students. The marketing guy was intimately familiar with Adwords, had studied copywriting with previously successful direct marketers and actively taught using automated email autoresponder campaigns at least 15 years ago. He was available weekly for live calls and email support at any time. The finance guy raised $50M over two decades and brought for companies public (not in the big Goldman Sachs IPO manner for a billion dollars, but the little known direct IPO or pink sheet swaps kind of deals for tens of millions). I worked in his office, so he was easy to ping with any questions.

My wife and I rehabbed and flipped a half dozen properties, ran several successful Adwords campaigns for my own online software and had fair success raising private capital. Those results easily paid for the programs along with far more cashflow over the years. I think that's only possible when you can work with someone directly who is highly knowledgeable in a particular niche of interest to you AT THE TIME. The majority of coaching students - also true for non-coaching students - will take little or no action to make something happen.

I invested 10 minutes watching Codie talk about the virtues of owning an automated ice machine business. There's little wrong with anything she says, but also nothing that I didn't already know or couldn't figure out pretty quickly. The BIG problem is she doesn't actually own such a business and never has in the past. That's not even a red flag, it's a complete non-starter. It's the guy in the bar talking about his great business idea. Maybe she has more relevant content available, but I'm not looking for new business ideas at the moment so it doesn't matter for me.

I only want to talk with people who will pro-actively explain all the things that I'm too ignorant to even know will be problems in the future because they've experienced them personally. Exactly the same as I'd do for anyone paying for my advice on real estate investing, direct marketing, raising capital, SaaS or logistics. Why in the world would anyone pay for advice otherwise?!?

View: https://m.youtube.com/watch?v=DAadnY8pXh4



I like her but there are a few things that perked my ears when listing to her. One was she was talking about her uncles plumbing company and said it did 3 mill a year in revenue, the host of the show later said it did 3 million a year in profit and she didn’t correct him and piled on about it saying how it could be worth 9 million. Just found it a little dishonest thats all
 
Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

chimichangatime

Contributor
Read Fastlane!
User Power
Value/Post Ratio
178%
Mar 1, 2018
32
57
50
sacramento, ca
The BIG problem is she doesn't actually own such a business and never has in the past. That's not even a red flag, it's a complete non-starter. It's the guy in the bar talking about his great business idea.
Exactly this.

  • Hey, somebody was able to talk a retiring couple into seller financing for a car wash!
  • Someone bought some land in Joshua Tree and did a HipCamp on it!
  • Someone bought ice vending machines!
  • etc.

Her model seems to be this: "Find someone retiring, get them to do seller-financing, structure the deal so you don't have to put up any of your money, step 4: ????, step 5: profit!" It's like, yeah, no shit, but HOW do you do that? She didn't do it, other people did. From what I gather, she made her money in cannabis.

Cool, these are nice ideas and I'm motivated to find something I like that I want to get into, but she has little to zero knowledge of any of these areas and telling me someone made money in them doesn't make me want to buy her courses or pay to join her group.

Her latest email was about a guy that turned the crochet needle market upside down with handmade needles (furls). Okay, cool. Guy found a need and filled it. She's never done that, though. I can see that she's trying to profile people that do something different ("contrarian" is the name of the newsletter).

She also spouts some right-wing nonsense and I don't want to see politics in my inbox when I'm just looking at how to get out of the rat race by being an owner/creator and looking for like-minded people. I may unsubscribe for this reason (I'd do the same for ANY political bent because that's not what I signed up for).

I paid for Rob's web dev Legends course because I am interested and skilled in that and he demonstrably was successful in it personally. THAT is content I'll pay for (and I've already earned back the cost of the course).

I paid for another course on how to buy and flip websites from a guy that's done lots and lots of them, and I'm working through that now. Maybe some of the info is the same (use SBA loans, use seller financing, etc.) but it's targeted and specific and he's personally done it, which is what I'm willing to pay for.

MJ is all about, "I did this and you can do it, too!" and wrote books about it. I guess that's the sort of thing I like and she doesn't come across as THAT to me.
 

Raoul Duke

Legendary Contributor
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
324%
Feb 26, 2016
2,209
7,149

That thread is (I dont know how to link it):​

From 0 To $240,000 Per Year PROFIT In 18 Months (Acquisition Entrepreneurship)​


 

Post New Topic

Please SEARCH before posting.
Please select the BEST category.

Post new topic

Guest post submissions offered HERE.

Latest Posts

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Ideas needing execution, more!

Join Fastlane Insiders.

Top