Ep 513: Buying Businesses & Land With No Money With Roy Redd

Transcript

all right Anthony I just sent you a speaker

invite what your fo's been up to lot of crazy

stuff an how much we contract yesterday uh

two six like like 2.6 mil no big deal

yeah a little slow [Laughter] day we're sorry we'll do better next

time maybe Dam do you do anything anything excites

you L like no amount excites you no more it's just the work huh I like seeing the people win so when

we see our students get a big win that that that's exhilarating and it lasts for days too yeah yeah I think the other

thing too is that the work like now that we contracted the work just started you know yeah yeah

too did you guys have to did you guys have to put money up to get that

asset yeah so this is on the the purchase and sell agreements so on one I

think on the one that's like 600 our down payment is going to be about 40 Grand yeah and then the one that's 2

million the down payment is going to be a million damn and is that coming from the fund or

you guys gon to just Rocky cash private private money okay yeah and

Creative Financing and Seller Agreements.)

then we have one that we're trying to pick up right now for 1.9 South of San Antonio 330 acres and

we're going to do cash on that one but we're going to do hard money and then the leads are still coming through the

CRM yeah yeah massive CRM leads and the the community so we teach them how to go

out and and run the deals and find them and then we just quarterback it yeah raise the capital do that kind of stuff

dude that [ __ ] is so smart dude because a lot of a lot of people the the

hard part is the leads right and like that's what takes time but if you're getting the leads just straight up

because you're helping people then you're you're good to [ __ ] go yeah that was a hardest part in the

beginning like trying to find these deals I knew it was like a needle and a haast stack so you know you spend a lot

of time and a lot of money just trying to get one deal and it could take months it could take three months six months just to close a deal a year so that's

where Janny and myself came up with the vision said hey why don't we train the community to go out and find these kinds

of deals and then eventually the deal flow would be heavy and that's where we're at right now we're on the receiving end where the lead flows just

obnoxious now so we have a full-time underwriter who has a data scientist working for

him so it's a pretty big organization now yeah yo Henry in the building Henry

I invited you to speak Mr panda in the building uh I've seen a lot of people

use spaces to grow so I said why don't I use spaces to bring in my my rich

friends to teach how they make money you know I did all right for myself so I'll

teach I made a little bit of money as well I was explaining cuz I my car broke down so I was looking at cars today and

I was explaining to the guy at the dealership on how he could buy cuz the

guy selling the dealership and he was like yeah he's selling it for like 30 million he was

like but nobody wants to pay that amount and I was like dude you could buy it like this and I gave him the creative Finance ways that that I learned and

that I learned from Daniel and he was his mind was blown he was like dude I didn't know you could do that and now

was showing them the LOI and everything uh what up Henry how are you

dude I ain't talked to you in a minute what it do y'all I am will I

cannot complain definitely excited to learn uh cuz I see what all y'all have

been doing lately y'all crushing it so yeah I'm just excited to learn shoot and the Daniel and Anthony

are the ones [ __ ] taking it to another level it's funny because I was

I'm not GNA say his name because he was kind of doubting the work a little bit and you know he's in the Mastermind and

I was like yo I was like let him I let him get his like you know his opinion

out and I said bro I said Daniel and Aunt are going to be the ones to do it big first like at that

high high scale and he was like you think so I was like I know so and then

maybe two weeks later is when you guys did the gross the million in a week and

then just things started going but Daniel you know just kind of talking about it how do you if you were

broke and you wanted to buy an asset with no money like what would be your choice of

action so it always starts with marketing and then finding a motivated seller yeah I think it's the biggest

thing when you find the right person they're willing to take anything just to get off their hands and that's any asset

from a business to real estate to land to single family Anthony and I have gotten free houses before just because

we're there's enough marketing out there that hey somebody wants to get rid of their house for nothing you know and

then that happens with real estate too so if if people don't really want it

they're willing to take any terms to get it so we have a deal closing miday that

a wholesaler brought to us that uh they negotiated $100,000 down so we're

getting $380,000 solar Finance so it's there's a lot that comes with that but

you can get free loans so there was a tweet yesterday somebody was roing me that loan docks and it was kind of funny

because they're like oh you don't do loan docks you don't do loan docks like y you you pay higher Roi just to get don't loan docks I'm like not every time

and yes I don't throw out loan docks I think it's just yeah yeah go

ahead an I was goingon to say something just to add on to what Daniel said U that the seller doesn't always have to be

motivated um especially when they're holding large assets right they they've been Rich for a long time uh maybe

they're not motivated right because they're already comfortable so it's really I think that that having some

sort of motivation right because they want to sell so that that's a indicator of motivation but they don't have to be

super motivated like in a single family where their house is burning down and they need to dump it quick um but so

these types of people like I said they're just looking as long as they can get their price they're cool with waiting so they say hey look I want a

million for it I know it's worth a million we're like no we're at Cash we're like 500 600 and uh they're like

no you know I can't let it go that cheap you know I got to get more than that for it well we can still get them their

money if they wait right while we improve the value of the property so yeah they don't necessarily have to be

like like a single family person where they're just so broke and strapped that you know they got to sell it in a day or

two yeah they can also we can we can work with them if they're willing to wait motivation comes in different forms

Raising Capital and Network Importance.)

I think is the biggest thing we can get them a lot closer yeah I mean so kind of explain that so let's let's say somebody

let's say someone has a property that they want a million for but no bank will fund it for a

million because the interest rates are crazy maybe a Bank of fund 600 700,000 how would you get them how would

you say to them hey we'll give you your million but here are the terms what is what what would be your favorite way of

doing that so I think one of the B Anthony you're breaking up a minute ago so get

robust you hop in this question too but I think I think the biggest thing is things weren't always as good

before right now we're kind of like we're on like oh 6% interest rates are high they're really not because there

was nine% interest rate in the 90s and 80s so we're really not in high interest

rates we're just going up we're not we're not where people are comfortable so when rat go High people trade based

off financing so they leverage their own Equity to create and sell their properties whenever they want to

reposition or trade exens trade assets or move the money where they want to so not everybody needs the money so if

somebody has a million dollar property you figured out what they need sometimes it's 50 Grand sometimes it's 250 Grand

so you figure out what they need right now and then a lot of times they're trying to especially with assets they're trying to defer the taxes so if they

have a multi-million dollar property in most cases they don't want to receive that cash killed by Uncle Sam and Uncle Sam's

gonna spend it and send it to Uncle Sam's gonna take it and pay off

the interest rates on all the loans they put out for war yeah exactly exactly so

they're they're gonna send it a different direction so you get to control that and keep it in house and

it's just just by it's educating the seller that they can receive it over time and they pay L pay L Capal Gams

Uncle Sam yeah I mean you're explaining to me that you could buy anything with it I'm doing the businesses sides while you

guys are doing land and and property is there any other assets this something I

I don't think we talked about is there any other assets you could do this with besides those two are those only two

anything literally anything any type of asset cars houses boats airplanes

helicopters land multivan it's really based off what you

can negotiate you could buy anything one one of the one of the things I love about land and this is why I like land

over other like commercial Assets in real estate is that land has a lot of equity the people that own it don't get

bank loans and the like m family and storage and all these other like real estate

classes they trade hands a lot yeah they refinance they sell there's like a

fiveyear like everybody that does multi family they buy and hold for five years and kind of restructure and rebuild the

debt and then they kind of run it again but uh land they just sit on it they sit on it and sit on it sit on it it doesn't

cash flow they get a exemption where they try and pay as little tax as possible and then they they'll find

somebody at the right price to the right Buy in the future members yeah when I when I okay so in a

business I would only buy a business that cash flows right so what would you

say to someone that says land doesn't cash flow I mean you can't have someone renting it you can't I mean how are you

going to cash flow land it's a lot harder to Cash Land uh people lease it they might lease it to Farmers or lease

it to agricultural which usually happens and then they try and hold that asset for a long time they might lease it to

whatever there's there's different ways of making cash flow but you usually few and far between and most people just let

it sit the land the land is the same 50 years ago as it was as it is today in

most cases um the only thing that changes it is its location so as cities expand and contract new opportuni

created in the path of progress and then you guys how do you guys usually cash flow them you just go

to this usually like turn them into more Lots right yeah so the the easiest way

to cash flow something is to sell our finance it so I always think about how the easiest way to create a 10% Roi is

you buy something for full price and then you sell Finance it for whatever interest rate you want Texas and land you can do 10 12%

and No One's Gonna bat an ey they're just gonna pay it and you're always secured by the actual asset itself so

you have the ability to kind of create any yield you want but then it gets really fun when you value add on a

property and then create high yield you literally was never there at all and you s Finance

it that's how you create cash flow yeah because I'm trying to I want to buy a house but I'm not trying to go the

traditional route I either want to creatively do it or pay it cash you know

what I mean um but the business the business we got I was looking at the uh

Loi today just to like come up with ideas on kind of how to explain this but

it's crazy because I've known this stuff for a long time but not to the extent and one day I don't know I don't know

what the [ __ ] was going on but you just hit me up like excited and the way you explained it made it click for me in my

head and then I saw all the deals that I let go because my mentor said don't get

deals with real estate in it and then when I went back to him I was like yo my friend told me I could have got the real

estate I could have got money this way and this way and he was like yes I just tell you guys not to get deals with real

estate because you guys are dumb and you'll [ __ ] it up I was like oh and he was like yeah I

mean if you you know if you have the skills and you know how to do it it works but on a scale of teaching people

with only 90 IQs how to buy businesses I can't teach them everything

but yeah so we reached out uh bought the Home Health humble it's called humble humble health care it's in Wyoming for

one.5 the it was worth 2.5 but Lonnie my

CFO noticed that one of the buildings that they had wasn't cash flowing like

the other ones when we looked at the balance sheets and so he said Hey listen we are

going to propose to them that we'll only pay for the cash flowing bus buildings

but the third building they either got to get it cash flowing or they got to

just hand it to us for free because we're not going to pay for things that AR in cash M and when he told me I was

like nervous because I just wanted to buy this business I just wanted to get on the get in the [ __ ] game and just

start making you know doing I got to do and uh so I reached out and I told him and he said yeah sure it totally

understands we can close it down if you want to and I was like no don't close it down how about this you know we'll pay

you out of the money and we'll let you manage it and start to transition and if you can get it to cash

flow we'll pay you extra half a million and two years later they never

got it to cash flow so we ended up getting a $2.5 million business for

1.5 and also on a sell's note what we're paying probably we're playing him

probably 30 grand a month out of the work he's doing he's paying himself we're paying him and he's

working for us to keep the business going so essentially he's running it like he's the owner but he's not the owner but that's the powerful that's the

how powerful this stuff is when you figure out you know how you can do this stuff but let's say I'm just starting

out and I don't really know you know what these guys are talking about what would you do if you're just starting out

Dam if you're Henry you just wanted to hop into the money game what would you

do I think this this answer is kind of changed over time but I think you gotta start raising your own money because

you're going to need some type of money for a down payment in most cases and it's usually not a lot depending on your

negotiation skills but you're still going to need something to get into the door did you have to put money down on

that on that deal at all zero nothing see that's that's a unicorn yeah it's a

unicorn to get into a deal like that with no money in I congratulate you for it but yeah that that rarely happens

I've done it before Anthony's done it before but it doesn't happen very often so you're going to have to raise or at

least have somebody else's money ready to deploy just in case you do need Capital to get

out now I guess that'll go into this part that I never I don't think I told

Challenges and Legal Considerations.)

you this but what's cool about the business side is you can

deploy just regular Bank financing because there's all types of different

loans loans SBA or a bank can just give you a loan but these businesses are only doing two to five million earnings yeah

so if he would have said yeah but I want a million I could have went to the bank

and got that million easily the the issue is that million

would have been more tax for him that would have been money that he would have got taxed on

and uh different things but you can you can get loans

from a bank to buy businesses for each business you don't want to cross collateralize like buy multiple

businesses each Bank you want each Bank to be with a different business and that

comes with another part of doing this [ __ ] is you have to call a lot of banks and get a lot of

relationships you know what I mean call it the bank for something like that yeah you could I have a whole script for bro

you can call the bank uh what up Grant how you doing man you can call the bank we got a bunch of

listeners down there I don't know why 41 listeners if you guys want to speak just raise your hand or if you have any

questions the bank each Bank can own their part right and they don't care they just want to get paid yeah yeah but

for example a humble is grossing is making cash flow 90 grand a month if I would have took a loan for the

million that would have been fine he would have got that million but then we would have paid him less a month but I

would end up paying around the same in bills anyway yeah right as long as the cash

flow is there to pay the bank and then the bank doesn't even underwrite me it underwrites the business and the bank just looks and says if the cash flow is

there we'll fund it but usually the bank doesn't cover what they want they want

this big amount in their [ __ ] head because and like and like like Bruce

says my my mentor Bruce Whipple always says he says the reason why people don't get rich when they own a business is

because becoming rich comes from multiple liquidity events not one and

they want one major liquid they want to build their business and exit and that's

it and most businesses that's not going to happen so let me ask you this yeah what

is their security on the business as if you get a bank Lo

so some when I first started calling out I got discouraged because Bruce said that

if you keep if you call enough Banks you'll get a idiot to fund you right and

I'm like all right but everyone kept saying like oh we need secure loans like you got to put your house up or you

gotta do this and do that and I called all around I'm emailing people and then

I'm like yo people don't do this they don't I was like Bruce is wrong sure enough got on a call with

like our like Mastermind group and he says no they want the loan to be secured

for whatever reason reason because they're idiots but all sbao SBA Loans are secure and I was like what you mean

he was like it says in the SBA statute that this loan is secured by the

government so he said he says I he said I don't recommend you to

do it but he was like whenever they push back in me I said pull up the statue [ __ ] why are you telling me the

statute says this SBA loan is backed by the US government so you're going to get your money if I give it to you or if

they give it to you so but he would be kind of an [ __ ] about it he's like you don't have that clout yet you can't

do it but all SBA Loans I think FBA is up to five and I think Big Daddy Big

Daddy Trump wanted to bring it up to eight which would be better if you know what you're doing it's secured by the

government and it says that in the statute and anytime it comes up you can either go to another bank or you can

pull up the statute and say I don't understand this is the statute why are you asking for secured blah blah blah

blah but he says you got to have you got to have the nuts to to be in there and

and act like you belong and say that so I wonder if that works in land I they don't do SBA for land huh but well I

don't know do you want to kind of talk about the business that you might buy at

all no not yet I still I still need to under I just got the financials today so it's a million dollar business that

produces 300 in cash flow annually yeah so yeah you can offer them

three to five times at 300 yeah we'll chop it up we'll figure it

out I said I haven't even looked at it yet it l came in like hour two hours ago yeah so yeah that's yours at the see in

that bank they're willing to fund it because your Banker I think knows that

if he does SBA it's secured it doesn't matter it's secured you know what I mean what's up Alex how you doing

man you guys have any questions please tweet or comment yeah I got a question

question uh I think especially for people like myself who uh you know and I

guess this is more so a question as it relates to like land but it could go for business like buying businesses in

general but as a person who's getting who's interested well not just

interested but a person who wants to do these type of things where you're finding opportunity where people just

pass it by like it I'm prime example is land you know people pass byy a whole

lot and it'll even pass like those for sales signs that y'all see but whereas

the average person just see a sign you all see opportunity so the question is

how did you shift your mindset to like see the

opportunity that comes with land or buying businesses so I can touch the one on I

knew Anthony was gonna ask for that but before Anthony goes what I do is I model people I

literally like I be I like will watch Anthony in the room or watch his stories

and I'm just trying to go what the [ __ ] is he looking for because in his language and his and his syntax he'll

kind of give away little hints of how he's able to see things because his eyes

it's it is a mindset shift but yeah go an yeah so I think um in land

especially it takes a high level of skill to monetize it right so it's it's monetizing it's very complex so that's

one part of it right so that's a barrier of entry for lend um that's why we're real heavy into the education space we

don't sell a lot of Education we give it away for free for the most part because we're interested in the deals not the education but another thing about land

is that to make to bring up the value of it you got to inject a lot of capital right so if uh if somebody has a

a commercial piece of land I'll give you an example of a deal I'm working on right now a guy has a a commercial piece of land and a half acres owned it for

like 10 or 15 years couldn't do anything with it sitting on a major Highway across the street from military base

right next to a uh like a gas station with a little shopping center and the other side of it is an elementary school

so crazy traffic a high density area you know great part of San Antonio so I mean

the guy's sitting on the property forever right and all he's waiting for is for somebody to come along and just buy it cash right it's everybody's every

land owner's dream is that some dummy's going to come along and just just buy it cash but was he needed a professional

right myself to come in and uh you know I've got about a year into it and about $200,000 worth of soft cost like for

engineering so um I'm designing a shopping center there hired an architect Drew up the shopping center hired an

engineer drawing the plan um getting entrance permissions from the Texas Department of Transportation drainage

study utility master plan all this stuff and uh now uh we have an offer uh not

not a written offer yet but uh Lowe's Improvement is going to come visit the site now they're looking at leasing

about 8 to 10 acres of it or possibly the whole site all right the guy wanted a 5 million for it uh he let me get in

with $21,000 worth of earnest money because he he pretty much knows that he's not going to be able to do anything with it at all right so that's one way

to get into those properties that have on them you have to express to the agent and to the seller that hey I know what

I'm doing here I have the capital to back me this property to the next stage to make it worth what you're asking and

that's what you're looking for you're looking for trust and confidence in that seller that they'll let you take over the property for next to nothing

sometimes zero so that you can inject capital and time into it and expertise to make it worth more so you know I

think Target on this one should be somewhere between three to five million profit um but it's going to take every bit of two years and probably about you

know two 300,000 worth of engineering on it and that's crazy you so and like what

what gives you the confidence to walk in there and say that sometimes I know in the beginning I you know you know things

but I wasn't really 100% confident on because like one of the things I would say is we're backed by private Equity or

we're backed by blah blah blah and when I would reach out to business brokers or businesses they would say where are you

getting the money from to buy this business or this property and I had had

a copied and paste because it was what I learned from a mentor right and he was like the money will come directly or

indirectly from board members and uh private equity and but I knew I was going to either do

seller finance or I was going to go to the bank and use the SBA with the statute uh there but like how do you how

do you move accordingly like that okay so what they did to you is they they had a disqualifying question and once you

overcome your disqualifying question you're you're over the threshold and you can ask for seller finance yeah it's so

funny it's it's a game so I had a uh somebody I did Loi for 70 acres in SoCal

here by tula and that was one of the we submitted the LOI like get us a proof of funds like yes I proof of funds and

we'll raise the rest we'll Syndicate and raise the rest of the money for the purchase and no questions

asked so they're I guess they're trying to say if you're serious yeah yeah yeah exactly

absolutely one thing you have to remember is that if somebody has a business right and they're usually

looking to um they're exhausted they're on a capital they're out of energy lost interest in the in the in the business

so there's a lot of reasons why they want to sell right so I think the positioning mentally is that hey there's

a lot of people out there that have businesses what makes yours worth me injecting my Capital into I do have a

limited uh a source of capital right I don't I don't have access to hundred billion dollars so why should I spend my

limited capital on your business so you turn it on them where you position yourself to say why what is what's so

good about your business that that makes me want to buy it and that you you start asking the qualifying questions same

thing with land right so the seller's like hey I have this piece of land I want 3 million doll for it I'm not going

to take a penny less I'm like okay sir well everything around you selling for about two million so is there anything

particular that's different about your property compared to your neighbors that make sure it's worth that extra 30% you

know 50% and the GU say no I just know what it's worth that's what I want had it forever I don't need to sell it I'll

die with it okay well you know I'm just wondering if if if you are trying to get

that kind of money I know I think I know how to make it worth that but it's probably going to cost me at least a year maybe 18 months and I'm going to

spend at least maybe 500 to a million to improve the property or I can make it worth that so you know if I can ask you

a few more questions about the property um I'll take a look at it and see if it's if I'll talk to my partners about it see if it's something that we want to

mess with because effectively what you're asking me sir is you're asking me to lend you you know roughly 500,000 to

a million to bring up the value of your property to make it worth three million I know how to do it it costs a lot of

time and a lot of capital so if you can give me some good reasons why I should look at your property as opposed to your

neighbors you know I'm happy to have that conversation so again making the seller like pre-qualify themselves like

I'm not asking you to buy your property I'm asking you to convince me to buy it so one of the cool things this real quick is that I love land because

there's so much inventory if they don't want to sell I can talk to the neighbor and you just move on so there's so much

inventory so you have the upper hand because they're the ones that want to sell now so you can always like you're the ones that want to sell I'm going to

do a deal with you but if you don't want to do a deal I can go talk to a neighbor yeah and also Henry like the positioning

like an said is huge like whoever is asking the questions is usually in the most powerful position because they're

they're taking questions out of people but I'll I'll tell you this from experience and from what I've heard if you are doing Outreach or if you stop

and call the owner to land or business and you say hey are you willing to sell

are you looking to exit and they're like uh I mean I mean what's your offer like

I I'll take I'll take a offer if they say that but like nonchalantly they're desperate they want to sell it really

really bad they just don't want to sell it for whatever low amount and they know that most people try to lowball them but

where we come in or not really we but we're we're being smart creatively

financing and learning how to do all this stuff is you can get them what they

want and you also get what you want it's it's it's like Voodoo I think I think I

think thing is that you can in the businesses you can buy cash flow like all of our stuff doesn't cash flow we have to Value ad so it's kind of a

different it's a Nuance for us go ahead Anthony no I was going to say just to mention what Roy was talking about is

like U you know when you're when you're asking these uh sellers businesses land you're not beating them up right so

you're you're not telling them how terrible the business is you're not telling them how bad the land looks and how much work it needs right you don't

go there with them cuz remember these people have their life invested into this thing you know probably had a lot of sleepless nights arguments with the

spouse you know that kind of stuff keeping the thing alive so if you come in and start beating it up well of course they're automatically going to

defend it right but if you come in and you tell them how amazing the land is how beautiful it is how much you love it

you know that like everything you appreciate about it then they start to identify with you like this guy sees what I saw in it you know a long time

ago and sometimes he's said they don't need the money they just want to see the project fulfilled so I think that's a

way to like tap into their psyche and to to put them on your side is to say look I know what you're trying to do here

you've got it pretty darn far I know I can carry it the rest of the way so if you give me that opportunity I I can show you how to get this done so you

want to get the sellers on your side it's not necessarily about coming in and breaking them down or tearing them apart and telling them what's wrong with it

honestly Henry what I love about these two business models the most is big wins so when you do the lag like

it takes a long time to get like a it's not really a sale but it's takes a long time to get a deal but when you get a

deal you're a soft millionaire when you get another deal you're a millionaire when you get a couple more deals after

that you're a multi-millionaire so it's it's big deals and the the funnel is small

like these people doing these sexy funnels landing page to a funnel to a funnel to a trip wire to all of this

[ __ ] and it's for a $100 sale $500 sale your copy has to be

on on this on this this is the entire funnel Henry find out who might be

selling email them to ask them are they selling get on the phone and say go take

them out to dinner and go take them out to dinner and you just talk and figure it the [ __ ] out like it's a easy funnel

yeah now it is their life's work it is their property so it may take a a week

it may take a month I got a guy that been talking back and forth for two years but hey at think end of the day if

if I ever buy it that's another a couple million right yeah absolutely no the the S is a

little different and you like literally I I have run a small business and I had four chargebacks today like I don't have

to deal with that over there it's a totally different sales cycle and as long as you can hang on for

the ride like you can you can negotiate anything so like a lot of these business owners and land owners they want to know some they want to know they're selling

to somebody who's going to do something with it or make good use of it they put

it in good hands like uh that commercial seller who had the 15 Acres he's like we know we're gonna make a lot of money on

this if we do the deal he's like yeah it's okay it's okay I need you to do the deal like it's not even about the money it's not even about the timing it's just

I need somebody to do something with this and make something of it because I've had it for this long so there's

like of the Legacy I told the guy I said hey I'm probably going to make like seven to 10 million on this I was like

so if we partner up on it I'll give half you know instead of me making all the money he's like no that's fine I need I want you to make the money all right Ain

no more yeah and then I was Daniel sent me a Tik Tok 78 trillion the Baby

Boomers still have they have half of the assets and wealth In America still and

so when he sent me that I watched it was like H so then I Googled when are the

Baby Boomers going to die and most of them are going to die between 2040 and 2050 so from now to 20 50 is going to be

the biggest transformation of wealth ever in the history of the United States

of America and it's going to be via land and Via businesses of the Baby Boomers dying and all of those businesses are

going to go to three places they're going to go to probate they're gon to just be stopped

and nothing's going to happen or hedge funds or they're going to go to you and 78 trillion dog if you can't if you

can't figure out how to get 20 mil out of that that's my number you know what I'm saying I tell people 100 million but

it's really like 25 million allocated property then I'm out the [ __ ] game peace I'm done you see to be on the

receiving end of some of that there's a lot of the pie and it's all big assets too 78 trillion doll that's not that's

not a a 10 house portfolio it might be a lot of money that's got to be that's gonna be the apartments the the the

multif family the storage all the land out there like one thing I love about land is like you can just you go to any

major city you zoom out and everything you see is green okay that's a lot of inventory yeah and how much how much of

the properties and land do you think is owned outright Daniel oh H land owned outright has got to be 75% or more in my

opinion so I know houses are like 50% land's gota be 70 plus maybe 80% so yeah

I was gonna say we probably never took over a land sub to have we Daniel taking over payments I think out of all the

properties we've only found one a mortgage delar had a mortgage on it oh yeah yep

that's been the only one most of them are own free and clear how do you guys handle a mortgage sub two or that one we

were trying to take over sub two because they they got it's funny is that one was seller finance the the person selling it

got like five or 10 years seller financing and uh it wasn't even with the bank it was previous seller financing

and then they're looking to possibly sell their Finance it to us or US develop it and cash them out and cash

the other lender out but a lot of this is seller finance and that's the big thing about big assets especially land

is a lot of it you can get seller finan some portion of it hey so in the spirit of the name of the room right buying

assets with no money everybody's in here listening like well you know how do we do it so I think's let's cover some of

those I think the one of the easiest ones is is like a Novation type agreement if any of you guys are familiar with the term Novation you'll

see house investors do that a lot Daniel myself do zero houses but if you if you come in with a seller right and this is

what we're looking for again we're not looking for a motivated seller a seller who wants too much is is probably a better a better candidate for this right

because uh in the house game you're only looking for people that that want to liquidate that are trying to sell at a crazy low price 50 cents on the dollar

so you can come in make it appreciate right and then you're all in for 75 cents or whatever so you can make a little bit of spread on it but where a

seller wants U more right or or they're not liquidating they want full market

price we come in and we'll negotiate um to let the per the seller hold it while

we improve it right and and sometimes you know improving does take a couple of dollars but you don't to get into the

asset you don't need anything all you need is is for the seller to Grant you time you say hey I can get you the money

you're looking for um I know how to do it it's going to take me a little bit so it it could be as simple as picking up a

100 acre tract negotiating with the seller that you're going to pay him off in 90 days or 180 days you get it under

contract so you haven't bought anything yet right you're still zero out of pocket you can borrow the ,000 from your grandma and then you are going to hire

an engineer to come in and drop about 10 surveys you know five surveys something like that so you're going to spend about

$2,500 a lot 10 lots and $25,000 but then you turn around and you sell that property you still haven't

bought it yet right you start getting contracts with end buyers uh to come in and just double close at the table so

all the end buyers come in they pay the seller off for the property and then you put the rest in your pocket right and

again that's like we do we do those types of loans too and we don't check anybody's personal credit anything like that we just fund the deal then take a

piece of it so you can do these deals with zero out of pocket so it's it's self-funding and like I said this comes

down like we're land guys so we we self fund with the deal itself so I tweeted out like yesterday or two days ago it's

a little Saucy for everybody here but we tweeted out that we're buying a $2 million property with a million dollars down all we're going to do is we have an

extended close and we're g to sell them we're going to sell their property and pay them off with their own property

like we're not coming up with a million dollars to buy that we're going to pay them with their own property yes so take

a look at that $2 million right it's U 200 acres and it's in a it's has about a

mile of river Frontage on it down by Corpus right uh in Texas so we negotiated 50% down with a six-month

close so now like Daniel said we're not going to bring we're not going to have to borrow a million from a bank from a private money lender nobody we have six

months to Market that property and show it subdivide it get contracts on some of those child parcels and let's say we

only get I don't know four sales and on closing day we have $800,000 worth of

buyers lined up so we're not bringing a million to the closing table we're only going to bring 200 Grand right and the sellers are uh the buyers the new buyers

are going to bring 800 so now we picked up a $2 million lot with 200 Grand where

I think the the lowest amount of profit we should make on here is like six and then minus agent fees and commissions and that kind of

stuff now on the business end the I don't see I don't know the names of how

we would do these loans but essentially we would do the same thing like we we [ __ ] we'll give you your your number we

don't mind but like Daniel says money now is more expensive than money later and when you understand that I'm like

okay bro the bank will only give you or nobody's G to buy this business for two million but I'll buy it for three

million but I want to pay you this amount over a course of a time that gives us time to improve the business

like you said improve there's only two ways to improve a business that's up up your prices or impr improve business

processes right but being that we want to roll up these companies and sell them we don't want to focus too much on

improving one business but I think here's the crucial part is once they're

in a deal they don't want to give it back like they don't want it back they'll they'll give you extra time you

can always negotiate extra time or you know that you know a lot of it people don't do it because they feel like it's

stressful like what if I don't make the payments or what if I don't do this they don't want it they just want want to be

liquid so they can retire and they want their amount because they can't live without the amount just period and if

they can't get that amount they're going to die and let the thing go on to probate no I think one of the huge biggest things you said is that you can

always renegotiate later we try not to retrade Too Much especially in in negotiations we try not to do that too

much but sometimes it calls for we have to retrade and renegotiate different terms but this is one of the things I

love I love about solar financing on the back end is you can renegotiate the terms of financing at

any point you have you can call that seller every six months and renegotiate that seller finance term so you have the

ability to now that they're the bank to renegotiate any part of the the original terms and it's free

game it's fair game should say is that Oglesby that just got here

somebody needs to invite him to speak yeah he pulled up and I know yo Charles

I literally I don't Charles's story is my favorite story to watch you had me rolling like him and my auntie are

Clipper fans so like I just be watching them and like it's good to see them

actually in the playoffs because they could feel the the hurt and stress that we

feel but uh I don't know I invited him I I think I invited him to speak or co-host he's probably figuring it out

all right that sub two guy how do SUB tws work I still understand that too too much I don't know if Daniel could

explain it in the business sense but why would yeah because you can't really

create a finance if they have a mortgage right or you can but it's harder it's

you got to understand the Nuance of it so a lot of loans aren't assignable but

you can as long as the banks don't want to hold the asset like when Banks own

when that for Clos they hate it they're always trying to sell the inventory before they have to own it they're trying to sell the inventory when as

soon as they get it they're just trying to liquidate because they don't want they don't want to manage and rebuild that property they're in the debt game

they're in the the finance game so you have a Nuance that there's loans in

place that they're not going to call due and yes they do call some due so you have to be prepared for that in some

cases but you can essentially take over the the deed of you take over the the

the ownership of the property because the mortgage and the owner and the deed are com they're attached but they're not

con they're not the same thing so you can transfer deed and ownership without

relinquishing the debt that's in currently in place so we've gotten I

think we have one house that we picked up that way that we kind of we kind of traded for something else but you essentially pay pay the mortgage

whenever it comes due and you now own the deed and they send you a letter in the mail saying hey you're not the the

the mortgager of this loan you either need to sell or refinance and that's

something you have to deal with when you come across it but it rarely happens as of now and it could change in the future

it's just that the banks own so much so many assets they're not checking the deed and who actually applied for the

loan copy that copy that let's talk about things that could uh Charles said

he's driving so he's just listening let's talk about things that could break you like

mistakes that could because people are worried about making a mistake that's going to financially break them and

honestly I can't really see any on the business side because again those loans

are secured we gave the sauce about how those SBA is secure by the government so

that's why we go businesses two to five times because guess if you you know if you [ __ ] up government's going to pay

and you probably can still keep the asset as well but what are some things in land that people should watch out for

I think the the biggest thing is don't don't do shady [ __ ] if you're doing a transaction stick to your word there's a

lot of lawsuits that happen in business in real estate over stupid things that

could have been prevented and some some have their their their rightfully their rightfully do whatever whenever someone

needs to get soothed so it depends on the situation but I think thing is do the right thing whenever you're doing

business or real estate because there's a lot of money at stake a lot of money at St we've had to sue sellers for

non-performance we've had we've been sued for different things on our side so

it's just it's just you're not trying to like do the wrong thing you just got to watch your back that's all so you always

have to have a good attorney and a good Agent somebody on our team he's been an agent 15 years he protects us man our

attorney protects us from legility there there's been points where we drop 15 20K

in a month on attorneys and it's worth it because it's saving you from headache and a lot of it is you're trying to

prevent issues before they happen you gotta have got to have foresight and you can't prevent everything you're gonna

get hit face hey I got a I got a good lawyer his name is Chad GPT

hey we won a couple cases with him right right Daniel yeah we we won a case with

chbt so so the rule of thumb goes if somebody sues you or sends you a demand letter or something right you just you

you cease communication with the other party and then you bring in your own attorney but since Daniel and myself we

like sued and got sued a couple times in a row like hey this looks kind of familiar so uh yeah we we hired chat GPT

as our lawyer and uh we we we diffused two lawsuits just with chat GPT so that

was pretty cool man saved ourselves a ton of money by learning that so I I told Daniel I'm feeling pretty confident now so that's why I text Charles I'm

like how do I become an attorney what do I gotta do I was feeling all lawyer after we beat a couple of lawyers quick yeah when

I when I so in m&a it's kind of hard because you want to get a lawyer as well a good m&a lawyer and a lot of them you

wna you know they teach us in The Mastermind group to try to get them on a success fee basis so after we close the

deal then we'll pay them or whatever and so um my lawyer who I did that with was

hella cool because he gave me all these templates that I could use and he said I'll come in on the purchase agreement

and then I'll do a success fee just on the purchase agreement so the LOI and the uh and all of that the letter of

intent I kind of just had like kind of these templates but I went to chat DPT

and say use this template and then I kind of I said act like a expert m&a

person this is the deal we're making and make it happen and then I sent it to him and he said that's perfect just add in a

breakup fee uh which a breakup fee is if um if they sign a Loi and then they

Sovereign Wealth Funds and Fund Structuring.End)

break up they have to pay me an amount and yeah yeah yeah that's you could slide that in there but yeah man Chad

GPT is huge so there there's been some I I follow some lawyers here on Twitter

not including Charles but there's some lawyers here that say a lot of their job is just

templates n yeah a th% like and Charles when Charles done with lawyer stuff like

he knows business and so him what he what he's GNA be able to do with that

skill set and in business I think takes him to another level especially what we're all doing and we get together and

really really do something incredible but let's say you know you want to go

faster and this is kind of what I've been looking into and Daniel you guys are you know actively doing it I've been

trying to ask myself do I just want to go slower but using money are you cool

again into that Daniel on other ways to get money and using funds I mean I mean

yeah we can talk about it so so where do we start look just throw

some ideas out there and we'll go back and forth on it okay so where where do you get money where do you get funds so

I would say first and foremost your family and friends are going to be fun is the fastest and quickest because they

know I can trust you first and then second is going to be from your network

it's most of the funds we've gotten have been referrals from somebody else it never comes from the person that you

know directly in most cases I raised half a million dollars from one of my my

brother's best friend's boss yeah came from referral I did raise from one of my

friends from high school that's going to come from your your network that people that know like can trust you from the past yeah so a lot of that is talking

about what you do and how you do it and that's probably be the easiest amount of capital but you're us G to get a referral from somebody else as real

quick sorry Daniel as W speaking if you guys uh have any questions you could just raise your hand or whatever but go

ahead Daniel you said family friends network network referrals Anthony preaches this all the time is to tell

people on social media what you do there's people there's millions of dollars billions of dollars ready out to

invest they just don't know where to invest and they're out here buying Tesla Tesla stock or Vu or whatever QQQ you

name it dividend Bros love it they're out there buying that stuff but a lot of times they're looking for adverse

Investments that aren't attached to the market or they're looking to diversify where they're not in the stock market

looking to buy real estate looking to buy oil and gas looking to buy water rights like there's diversification a

lot of different ways where you can diversify and buy other stuff so you

have dividend who wants to diversify into real estate you can buy real estate notes you can buy you can buy a rental

you can buy Airbnb so there's a lot and there's a lot of different asset classes inside of that so there's a lot of

people out there with capital is looking to deploy and diversify into other assets that produce a good

Roi yeah goad something I would say on on raising capital is all you need is

proof of concept all you need is a track a track record and that's it so I think

in the beginning when you're first started instead of like swinging for the fences and trying to get a really big deal get any deal any profitable deal

and uh the The Profit that you make on it kind of doesn't matter it it matters more that you've done a 100 deals right

nobody's going to be as impressed if you did one deal and you made 100 Grand than if you did a 100 deals and you made 10 grand on each one right so uh when

somebody's lending you their Capital they just want to know that you're a good Steward of it and you know how to multiply it and that's really all they care about they don't care if if they

give you but we got we're getting some high level m mentoring by a guy that's like super high up in real estate and he

told us the kinds of returns that you guys are making he said they're unbelievable he said so what you guys are going to have to do he said you're

going to have the opposite problem for most real estate teachers he said you're not going to have a problem of convincing people to lend you the money

because of how how what kind of returns you're getting he said uh you're going to have the opposite is where people are not going to believe the returns he said

so it'll be a lot easier if you guys just dumbed it down a little bit he said talk about the deals where you did pretty good more than you talk about the

deals where you did amazing right so if you're doing a a lot of deals and you have a clear and concise track record

it's on paper right so you can prove it when somebody comes to lend you money they're going to that's all they're going to want to see it's like hey how

many times have you done this before how many successful transactions have you had and then the money just comes and

then it comes and then they tell their friends and they tell their friends and sooner or later you'll start to have more Capital than deals but that that's

what I would say I would say start small consistent and then go for high volume over uh uh like H doing larger deals

like less larg deals in the beginning and money knows money so once you get that little money they're going to know

somebody else with more money and like hey I've done ABC deals with this person you want to hop

in money knows money and it come imagine all those consistent deals

you're doing right so let's say you did 100 deals and it spread out over a year or two or five but you're posting that on social right you're posting it on

your stories Instagram Facebook LinkedIn everywhere people are watching right so

um you post your first deal and everybody claps for you they give you a high five they don't really mention it right but by the time you post your H

100th deal you're getting inbox messages where people are saying how does this stuff work like how do you guys need any

kind of capital how are you funding this stuff you start to get those kinds of questions when people see that you're consistently doing one business model

right so if you're jumping from different business model to different business model it's going to be a little bit more challenging but if you're doing the same business over and over and over

again over time and distance and you're posting about those deals uh people they're watching and they're noticing and over time and distance the volume

starts to go up with people that take interest in what you're doing so that I think that's probably the main thing is not only doing the deals but publicly

displaying it and talking about it too yeah I want I want to highlight real quick what said that doing the same

thing consistently so we've we've done the only thing we post about is land but we've bought houses and other asset

classes and mobile homes but the only thing we post about is land because we want people to show that we're consistent in the one thing goad right

so few things money money that's huge there's a tactical there's a website

called search funer where people are searching for deals and there's people searching for people who search for

deals to give them money to search for the deals and there's literally a bunch of people looking to fund you to buy

land to do this because there's older guys with a bunch a bunch of money who

have friends have a bunch of bunch of money and they just don't want to do the work but you just need to have the idea

and they know ideas that at work so I I did a post on there maybe a year and a

half ago where I just said uh Hey guys um I'm consol I'm consolidating a

fragmented industry and looking for banks to fund

each deal hit me up and then I had like a hundred messages so that told me like

okay they know more in my idea than I do right but why but the weird thing that

bugged me out is why other people don't want to do it because essentially it's a rollup and but then they wanted to talk

to me like what industry and then I told them they're like yes that industry is extremely fragmented and they know it's

just they know it's just cold calls at that point and cold emails at that point and these old people don't know that you

could send a thousand emails a day with AI so if you put a idea together like

hey I'm G to buy land or hey I'm going to buy businesses I'm going to use AI to do Outreach I'm going to go volume but I

just need this much money to close the deals then they will do that but I'm so

glad we did this because Daniel cat this idea I just got this idea I didn't want to bring in fund

people to fund because I didn't want to give up too much equity and I wanted to exit with multi multi-million dollars in

around 20 but time I'm 48 but time I'm 48 and but you may reminded me of that

part where the bank it secures it I'm going to have these these guys I'm going to go to you know where we know to go

and say hey send me maybe I don't need a bunch of money because I don't need you

guys to help me buy the businesses I'll fund the I'll get the business funded through the bank I'll use the bank I

don't mind using the bank but if you give me a million dollars to search so I

can search at a high level and maybe get some employees I give you 10%

11% yeah and in a board seat the the the money the money doesn't want to work for

the active Capital so what most of the time they had to they've inherited or earned it themselves and they know how

hard it is to earn so a lot of times we looking for a new a different Workhorse to help carry that burden of creating

capital or uh someone else is just going to create the capital solely you know a

lot lot of people with capital they just need to get a c like once you hit a certain level of wealth you don't need to work anymore if

if you you know what your your means are and say I hate that phrase but if if you

if you know what you can create with the capital and you know how much Capital you have you can stop and retire right

now like don't buy the big boat unless you can afford it you know and you can afford it good for you but if you're not

out here hustling and grinding and you're trying to O over produce and over live in excess you're always going to be

chasing that that that that threshold yeah and people you know they go to VCS they go to rich people and ask for money

but let's talk about funds you know hedge funds search funds can people start their own funds

absolutely anybody can start a fund and a lot of times you don't have to have experience doing it you just start small

so I interviewed a guy who he started his first fund was his first fund was

$65,000 $65,000 and he was doing like micro loans with the

$65,000 and I laugh at that because I mean I I can make a phone call and raise $65,000 but he created a fun structure

for $65,000 but you you get you build experience over time you build credibility and the fun the fund space

is very how many funds have you done and how many were they successful and are they still up and running and what Roi

you're producing because they're SEC regulated so you have a track record so if you're going into that space you can

go out there and start you a $100,000 fund which should be very simply to get from friends and family be a the track

record produce an Roi with the money and go s the second one that's maybe a million dollar or $3 million whatever

that is and FCC secure it or they just regulate it they regulate it oh that's

why dumdum went to jail for the fund he made for crypto yeah yeah they regulate it and he

was he was doing fraudulent activity with it too so the biggest thing is that

you you do the right thing and if you don't you're going to prison so so you're SEC regulated and you don't do

the wrong thing but a lot of things a lot of people don't understand is if they disclose and lose the money they're not going to prison they just lost the

money yeah there was a that was a big fund Charles was here but the that was a

big fund that they lost a lot of money and there's even funds getting hit with multi family right now that are losing

everything they probably not going to end up in prison because they just made a bad investment so it ruins your track

record but say go to prison if they disclose and show that front

okay I'm still looking into this as well so I'll see if you want to touch on it

imagine if a country like I don't know China wants to own stuff in the

US how could China invest in you to help fund your

idea so that's uh

I'm my son here a second too but uh by the way I I reached out to someone and

some I talked to someone who's runs Kuwait um oh yeah yeah how' that

go he said that um he will put me in touch with

everyone and they'll think about you know the idea I at the very least I'll

get to pitch but I could tell it was really a lot of morality in it like he asked was I Muslim

oh really there yeah but you know [ __ ] I might have to and you tape

bro okay so let's spill little thoughts here I

think you kind of alluded to it but Sovereign wealth funds there's countries that want to invest in America because

they they know they produce a highi whether it's in infrastructure businesses or development and you can

they you can talk to their country so you talk to Kuwait and they're asking if you're a Muslim so that's interesting

and I told you that when you when I when I put you down this Rabbit Hole yeah it gets really political and you know I

hated politics my whole life but the more and more that I go up the money game and learn more about money it's you

have to make a stand you have to make a stand somewhere and draw a line because if you're if you're in the middle it

shows that you have no you have no stance you have no backr yeah they really want you to pick a side and put

side and stick to it exactly draw the line yeah wild because if you if you have

enough money and you figure out your fund but what what's really cool about the funds is they're not transparent as

i' learned about them and read about them it Kuwait could invest in me to buy

I could end up buying 10% of the businesses in healthc

care backed by Kuwait which means Kuwait essentially owns owns 10% of the

ha Health Care system in the United States and then it gets weird politically when people find out and

they start talking [ __ ] about me they start talking [ __ ] about everyone like this guy's a traitor he I can't believe

Kuwait and then that's when they try to shun you out with laws and things like that but at the end of the day of course

they would want to do that because they want they want it's power if you own

something from the country that is that will blow everything up to to keep things going you know absolutely so

there was a there was a story and I told Roy about the story a couple uh I don't know when it was but you can Google it

there was a city in Virginia West Virginia one of those mountainous areas on the East Coast that was the bridge

was so deteriorated that they couldn't cross it so essentially there was a whole little pocket community that

couldn't commute around couldn't commute out of the community because it was kind of surrounded by mountains so the city

ended up reaching to out to Russia I think this is before the Russia Ukraine war issued but they reached out to

Russia and they asked for funding for the bridge and Russia agreed and it was

such a made such bad publicity for United States United States but Russia wanted to embarrass

United States for not fixing the bridge infrastructure like like the water and Flint now everybody be mad if China gave

us the money for it but they don't want to fix it exactly exactly imagine if

China came and fixed the Flint Water Michigan water CR that would be crazy and I don't you told

me The Sovereign wealth funds they own all the tow roads or just some of them uh they own a lot of infrastructure okay

they buy infrastructure there's there was a story where uh you can look this up it's it's fact uhuh Saudi Arabia sold

or Chicago sold their parking meters for 60 years to Saudi

Arabia oh wow so big big money in especially like funds like that don't

invest in infrastructure and development and that they probably just needed the liquidity at the time oh yeah yeah

Chicago definitely need liquidity at that time so they'll sell if you can if you can catch anyone

who needs liquidity man you can get their [ __ ] up out of them like Jordan got got financed out of his out of his

NBA team but well I mean even even this America finessed Panama if you really want to get political America finess

Panama for the Panama Canal

oh I'm sorry brother I didn't even I just saw that to I see did you have a

question oh he come to listener oh dang there was like a whole request button that I didn't even see

damn it I wonder how many people requested and got mad and just

left I don't this is my first time using spaces I don't even know yeah it's my first time one of the guys there's a guy

I follow his name is Gary and he built a huge following on Spaces I was let me start doing spaces because I'll get when

they go on Spa when you go on it starts notifying people like oh thought was on the spaces and then we could just always

talk about different stuff and Coach through different things but uh did that make sense Daniel I could I

could take a search fund just to search for the businesses but then I can use

the two to five I could use the SBA to fund them yeah I don't need to fund them

through the people who are giving me the money I just need that search fun so yeah I'm g hit up that list and see if they let me search I'll give them 10% I

[ __ ] there's money out there and there's money off looking for deals and all these baby boomers are they're passing

all their assets down to somebody that's gonna inherit them or buy it yeah it's it's all GNA change hands

in a matter of time so yeah we're finishing we're finishing up I'm just going to invite everyone to speak just

in casee they heard something that they didn't understand or want to ask a question or just want to meet Daniel or

Anthony so if you guys want to you're welcome to raise your hand and ask any questions

before we slide out of here or me in the meantime if Aunt or Daniel if you want to say anything or tell them where the

hive is live is get your free well it's not free it's your dollar course on how you guys do this stuff yeah you can text

yes so we trying to sell education like a lot of it the dollar you text course to 2110 972

1842 it's dollar course cover the basics of land investing that interest you um

but yeah not really here to sell information here but just more educating and you have to send me this video

because we have to put this on podcast yeah I'm I'm downlo before we

go before we get out of here guys I just want to cover probably the biggest uh wealth gaining tip that I've accumulated

in in in 42 years I wish I learned this a long time ago but the if you're if

you're bus like everybody has this in their mind cuz I had it as a kid too and I know a lot of entrepreneurs who do you're imagining that you're going to

start a business and that it's going to go so great that you're going to take your funds and then you're going to keep reinvesting and growing at the same time

but that's not reality for companies like Instagram and Facebook and you know those kinds of guys they they did like

an infinite raise right so a lot of these companies failed for the first 10 years and they just kept raising Capital

right so if I had known that early on on I would have went to raising capital a lot earlier in my life and another thing

that kind of accelerated our capital is um as you're raising funds you're raising Capital you're going to always

have you're going to have a a back and forth right everything oscillates right the universe oscillates energy everything right goes up down high and

low good and evil so as you're raising Capital sometimes you're going to have excess deals that require capital and

then sometimes you're going to have excess capital in no deals so something that we've done at a Bolton is when we

have excess Capital that we don't need for our our own deals we sell it into other people's deals right so we come in

as a lender so if you charge above 18% in Texas that's a felony right you could go to prison so what we do instead of

coming in as a traditional lender and having somebody fill out loan docs we lend them money to do their deals and we come in as a partner right so if uh

somebody has a deal let's say they they sign up a $5 million rench and they need 400 Grand to get it done the deal is not

getting done without that cash right one way or another Banks aren't going to lend on it right Banks aren't even lending on housing developments right

now so what we'll do is we'll come in we'll put the 400 in and you know maybe

we take a larger spread than that maybe we take 80% and the other guy takes 20

yeah so as you're as you're going out to start any business venture if if you start with the mindset of raising

Capital first then just waiting for the you're waiting to make your own capital and reinvest it because you're going to

die broke trying to do that yeah I guess it's just being creative like literally

drop any idea you've heard about how you got to buy [ __ ] or sell [ __ ] and

anything that you can think of you could make a contract for and figure it out

it's anything you could think of like for example I had this idea that I

couldn't buy healthc care companies in California because in California you

have to have a doctor the doctor has to own it or you have to have a doctor on

staff and the doctor has to own a certain C per percentage of the company so what guys were doing that I didn't

know till I found out recently after talking to Bruce was they'll buy 51% of the company or a certain amount of the

company keep the doctor on staff give him and then kind of do the same thing we're doing creatively paying him and he

has to stay and work until you can find another doctor so it's different ways and you can just keep that in the

portfolio because we we keep these businesses in A Holdings company each separate entity in a holding company and

then we sell the whole holding company on the exit or or go public depending on you know uh the best way to go liquid at

the time but um literally if you suspend suspend all of your mental blocks and

just be creative you can figure out a way to do almost anything and that's that's what a true entrepreneur does I

think the biggest thing is understanding that everything is for sale literally everything

everything is for sale you have talk to the right person and hey you selling this anytime

soon th% th% well I if I made you an offer

would you take it well I'd be open to it that's it and if there's enough money

people will take an offer and guess what oh we got hey I'll give you what you

want but here's the terms that's right that's right this has been good man send

me the audio for this man yeah I got you man thank you guys for jumping on I'm going to do these more often we'll get

the millionaire on here and start getting people on here and start talking our [ __ ] this was just off the cuff and

it was crazy Henry what it do oh Henry dropped down to listener so all right guys thanks I'll zip this up for you and

I get it over to you all right man peace see you let get a special effect

on this [ __ ] [Applause]

[Music] [Applause]

Ep 513: Buying Businesses & Land With No Money With Roy Redd

Daniel Esteban Martinez

Anthony Gaona