"I'm Broke... What Should I Do?"
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- Опубліковано 15 жов 2024
- Want to SCALE your business? Go here: www.acquisitio...
Want to START a business? Go here: skool.com/games
If you’re new to my channel, my name is Alex Hormozi. I’m the founder and managing partner of Acquisition.com. It’s a family office, which is just a formal way of saying we invest our own money into companies. Our 10 portfolio companies bring in over $200,000,000+ per year. Our ownership stake varies between 20% and 100% of them. Given this is a YT channel, and anyone can claim anything, I’ll give you some stuff you can google to verify below.
How I got here…
21: Graduated Vanderbilt in 3 years Magna Cum Laude, and took a fancy consulting job.
23 yrs old: Left my fancy consulting job to start a business (a gym).
24 yrs old: Opened 5 gym locations.
26 yrs old: Closed down 6th gym. Lost everything.
26 yrs old: Got back to launching gyms (launched 33). Then, lost everything for a 2nd time.
26 yrs old: In desperation, started licensing model as a hail mary. It worked.
27 yrs old: "Gym Launch" does $3M profit the next 6 months. Then $17M profit next 12 months.
28 yrs old: Started Prestige Labs. $20M the first year.
29 yrs old: Launched ALAN, a software company for agencies to work leads for customers. Scaled to $1.7mmo within 6 months.
31 yrs old: Sold 75% of UseAlan to a strategic buyer in an all stock deal.
31 yrs old: Sold 66% of Gym Launch & Prestige Labs at $46.2M valuation in all-cash deal to American Pacific Group. (you can google it)
31 yrs old: Started our family office Acquisition.com. We invest and scale companies using the $42M in distributions we had taken + the cash from the $46.2M exit.
32 yrs old: Started making free content showing how we grow companies to make real business education accessible to everyone (and) to attract business owners to invest or scale their businesses.
34 yrs old: I became co-owner of Skool.com to help the many people who want to start a business online do so.
Today: Our portfolio now does $200M/yr between 10 companies. The largest doing $100M/yr the smallest doing $5M per year. Our ownership varies between 20% and 100% ownership of the companies. Many of them we invested in early and helped grow (which is how we make our money - not youtube videos).
To all the gladiators in the arena, we’re all in the middle of writing our own stories. The worse the monsters, the more epic the story.
You either get an epic outcome or an epic story. Both mean you win.
Keep crushing. May your desires be greater than your obstacles.
Never quit,
Alex
FULL DISCLOSURE
I make content to make money - just - on a longer time horizon than most. I want to build trust with business owners so we can find the best ones and help them scale. And if they’re awesome, write them a check and go all the way as partners.
If you have ZERO dollars in your bank. This ain’t the video for you.
😂😂😂😂
I'm broke... What should I do. "Let's say you have $50,000..." Lol great video
It’s because He’s never been broke broke
epic lmao
Exactly no sense video
Can't lie. That was my thought as well. Never helped that dude, but still a very good video for people not broke broke Hehehe 😆
@@Mykev777 he had 1100 though he said at one point. Idk if true or not
"I'm broke" - "LETS SAY YOU HAVE 50K $" 🤣🤣🤣
This is exactly what I thought. Glad it wasn't just me.
If you can’t find a way to make 50k what makes you think you can make a million
Exactly 😂😂
levels to this broke shit lmao
@@Alfredito999 What an ignorant outlook. People start from different places. I never said "trying to make money for 10 years and never got to 50k".
Biggest paradigm shift needed is *you don’t need money to make money, you need creativity and financial literacy to make money*
i should read this comment everyday tbh
you don't need money to start a business you need money to compound money though.
False. In this scenario you need $50,000. To be liable for $625,000. And you need the company not to flop. Sound like rolling dice even if you're 'financially literate'?
@@mdkn9153 sure, everybody knows magical thinking is the only *real* way to "manifest" wealth...
You need money but no one said it has to be your money.
the hardest part about this, in my opinion, is to find the right team to help you with this. As brand new to the business.
100% agreed. My biggest problem right now as an owner of two businesses.
@@chazaqs9109 Hey, what business are you doing I may help your
How this work is it good you can make money
There are other people looking for better opportunities. Some want to grow. Some want to learn. Some want challenge. Find those people. If you can offer them tasks, or a job - then that's win-win.
Wth? 50,000 dollars is not broke! When we say broke we mean 0.00 dollars
We went from broke with $0 to having 50k instantly and buying a $700k business... 🤨
Awesome video! I’m addicted to finding deals, both in real estate and businesses. You’re a saint for making great content like this, Alex! Keep serving the world brother!
Great video but completely miss guided by the title😂
Are you a realtor?
@@fadezynx7587 couldn't agree more
Check with your SBA lender if they will do this. The SBA lenders I've spoken with require the seller financing payments to be deferred until the SBA loan is fully paid off. Which means the seller doesn't get a dime until the bank gets all of its money back. This makes SBA financing and seller financing incompatible from a practical standpoint if your SBA lender insists on getting paid back first.
This isnt true. That's only true if you want to count the seller note towards the equity, which they'll cap at 5% of the deal. If you have 10% down, you can set it up however you want.
@@JoshuaKim1997 Hey, did Alex Hormozi do the QLA course? It sure seems like he did!
@@dfhutton …no. Acquisitions aren’t entirely proprietarily unique to Dans world, may come as a shock to some… 🤦🏻♂️
@@JoshuaKim1997 Ok, thanks for the reply - was just curious. I know Alex is very into operating and scaling the individual companies he invests in VS scaling via roll up.
first im going to assume you are cash flowing more then enough to pay off the sba loan so then you could also just pay back the previous owner with some of the left over money and keep the rest until everything is payed off
What did I just watch? I thought the guy was broke according to the title.
In his head, he assumes everyone has 50k lying around as pocket change 😂
"to the unconditioned everything looks like a spending opportunity!" How many knowledge bombs does this man drop? Subbed
it's crazy! Feel like this guy escaped the matrix and he's just cruising by, chill, seeing the source code for what it is.
"But we are initiated. Aren't we?"
@@judahhudson2200 Bruce Wayne
For those that haven't noticed, if you want more info, observe his bookshelf. He is showing a great reading list.
Success leaves clues your comments is underrated
You know what he values more than his Lamborghini?
Knawledge!
I was scoping those out too!
A 250k year profit business for 625k extremely unlikely. On top of that the chance of seller finance on that would be unlikely af. Needle in a haystack.
Probably was 250k revenue
Totally doable. I’ve seen better deals done.
@@jahnotdead really?
I'm broke what should I do?:
1. ???
2. Acquire 50k in cash
3. Take out a loan from the bank. The bank gives you a loan because why not give 200k to some broke-ass mf.
4. Buy some risky local business that someone is selling for some reason. They sell you a business worth 625k for 250k coz you're a god-lvl negotiator. "Well my man, I will pay it later from the revenue." (sure)
5. Be a billionaire
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future. Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. Success depends on the actions or steps you take to achieve it. "You're not going to remember those expensive shoes you bought ten years ago, but you will remember every single morning when you look at your bank account that extra 0 in there. I promise, that's going to be way more fun to look at everyday", I pray that anyone who reads this will be successful in life
@Scott Nicole O ' Yes I'm a living testimony of her good work expert Benson Sandra
Mrs Benson Sandra has changed my financial
status for the best ,all thanks to my aunt
Who introduced her to me.
@@gabrielsmith9781 I invested $ 10,100 with her and she made profit of $ 66,000 for me just in 5days .
This may be most underrated channel on UA-cam
Thanks for scratching your itch in an impactful way - hoping you stay the path!!
Video title, " what to do if your broke"
Alex; "let's say you have 50k"
🤦🏽♂️🤦🏽♂️🤦🏽♂️😔
Getting a skill is the first thing he mentioned before the 50k savings.
seriously
Really seriously??? We are waiting for a response
Did you even LISTEN to the entire video?? Sheesh...
$50k is broke
Just want to say I flipping love your videos and your channel. Never seen so much pure truth being given. I have listened to, and followed, so-called gurus and motivational speaker types and never heard such pure truth. It's normally "buy my business coaching program and if you fail it's your fault. If you succeed it's because I'm such a great coach". Want to really say thank you for being a light of truth in an ocean of con artists and "coaches". You ROCK man!
Cool tip! I didn't realize I could buy businesses with little money up front.
Why would somebody sell a business that does $250k/yr in profit and all they put in their pocket is $250k the first year, and less and less after that?
They wouldn't
The next time one of those guys making millions per year says he's sick of the business, send them my way 😏
This is dope… but $1100 in your bank account is not actually broke to be 100 percent accurate. Real broke is $0, horrible credit, and thousands in debt. I only say that because there is a difference between $0 and $1000 to those who are really broke and hurting. Respect👍
Geez I wish was watching your videos a few years back! Before I got myself into trouble by buying a shit business which sent me bankrupt, but on the upside, that experience woke me the fk up and boy did I learn some serious lessons and then it kinda forced me to learn more about entrepreneurship, business and wealth creation and most importantly mindset! I still have a way to go on my journey and thanks to people like you Alex for helping me on my way! I mean really, THANK YOU!!!
It's crazy how much Alex has improved his presentation/speaking skills. Tells me if I put in enough work, do enough reps, I can get there
Pretty insane you give this information away for free lol. Super grateful man.
I have that same thought exactly.
He gave nothing useful to people who are actually broke😂
@@fadezynx7587Agreed because people who are chronically broke typically can't find usefulness in anything.
What I don't understand: why should anyone sell his business that makes 250k every year for just 660k?
I don't know who needs to hear this but i couldn't afford rent 2 years ago, now i can. Couldn't buy a Tesla a year ago now i have both a tesla car and lots of tesla stock, my point is building wealth is in your mindset, work on that and your financial potentials becomes exponential, develop habits like avoiding debt, cutting costs and most importantly, regularly putting money away in intervals for investments .My advice is to start with the stock market, it has plenty of opportunities to earn..Trust me I was able to grow to 7 figures just on a diverse portfolio strategy spread across bluechips, top etfs and coins and i didn't even have to lift a finger because my broker James Fletcher Brennan did all the hard work, he handles all my investments and ensures I stay above the market
I also think that we salary earners need to realize that monthly income will not make you rich.
please you said something about your broker, Did a quick web search on him and he has a pretty decent bio, my question is, do i have to put him on a retainer or does he get paid by commission?
@@taylorgreen5908 yes he works on commission
@@tonimhamilton2072 thanks for the tip, you've made my day!
@@taylorgreen5908 you're welcome🥂
From watching this video what I’ve learnt is that discipline and consistency is the key. And I say this with the greatest respect but the difference in this video and and his videos today are staggering. Is somebody said they could make you 10x better within 2 years you would rip their hand off for the offer. We are so good at looking back but terrible at looking forward. 24 months, 730 days and you could go from being OK to being great. Be interesting to know what his subscriber numbers were when this video came out. Well done pal just the progress in the content is inspirational.
Not exactly what I expected but this changed a lot. Definitely not going to buy simple real estate. Build my own business and use cashflow to acquire more businesses. Thanks Alex your content is grad A stuff.
Alex, I've seen a lot of your videos, but this one has left the biggest impression on me. Thank you very much!
Agreed. Very practical advice.
It's 11:30pm. I just found your channel 45 minutes ago. I may not sleep tonight in order to binge your content. You've got yourself another subscriber. Thanks for the wisdom.
Same here
Right there with you boss
Been binge-watching your videos dude. What an underrated channel. Ty for sharing.
I got liquidated yesterday and I’m using it as fuel to follow these rules permanently. Great video
Just watched a couple videos man I am thoroughly impressed. Please keep these video coming.
I really enjoy this guy. Seems like a genuine dude too. Thanks a lot for your content
Conceptually this is correct. But there are much better ways to structure a deal. Be cautious overloading a company with debt, and don’t forget that the SBA will likely require you to personally guarantee that loan and post your other assets as collateral.
That's true great point
What’s the alternative? Work like a slave till I’m dead.
Where would you recommend someone start if they are new to this concept
@@STS-u1r Great question. Simply: start where you have existing expertise or skills. I'm going to be creating a ton of content around this topic. It's a fantastic way to build real wealth but when buying a business (or businesses) there are landmines that you have to look out for.
@@brandencoluccio6423 Great, please let me know when you do. In the meantime would you recommend any UA-cam videos to watch in order to increase my understanding of the topic?
I would love to know how to find these businesses more in depth, Great Video!
I remember being so broke with only $148 in my account on a apartment lease lost my job and a car that was starting to act up. I was on thin ice
148?
That's 3 of my salaries.
How did you get out of the hole ?
@@jeremiah8716 loan
How did you get yourself out of the hole?
I love how "I'm broke... what should I do?" is the question and he's like "Let's say you've got $50K...". LoL
So, he started out talking about broke folks. Turned broke into $50,000 cash saved for an overpriced house. Then gave suggestions on what to do if you're NOT broke. That doesn't answer the question. At my current savings rate, I'll be 90 by the time I get to $50k which, w inflation, will be worth $500.
I never comment on videos like this, i'm a skeptic to the bone, but this man is spitting some amazing advice that is actually not trying to flip around and sell you something right off the bat. Appreciate you Alex
I'm not financially broke, but time broke. 9-5 takes up 65+hrs/week.
Man - When I am successful, it will be due in large part to your generosity and honesty in producing these videos. Thank you.
Good luck bro 💯
You will never be successful
Jetzt mal auf Deutsch.
Ich bin gerade in einer Situation in der ich mich ständig von "Shinyobjects" ablenken lasse. Ich habe das Ziel, mein eigenes Unternehmen zu gründen und aus mangelnder zeitlicher Planung, fehlendem Selbstvertrauen und noch viel wichtiger, fehlenden Fähigkeiten, lenke ich mich lieber ab und helfe anderen dabei, ihre Ziele zu erreichen.
Es tut so gut, sich abzulenken und es ist so einfach, den Kopf in die Dinge anderer zu stecken.
Aber was sich nach echtem Leben anfühlt, ist das Risiko des eigenen Erfolgs einzugehen.
Ich meine es ist etwas anderes, jeden Tag alle Entscheidungen selbst zu treffen und dafür schlussendlich verantwortlich zu sein.
Es befriedigt mich so sehr, mich mit meinem eigenen Erfolg zu beschäftigen und dafür zu arbeiten.
Das ist einfach unschlagbar!
Ich danke dir Alex, für dein Video und deine Art.
Ich sehe dich als Vorbild!
Bro as soon as you said assume you have 50k, I knew this is not for broke broke people 😂 broke broke means got few bucks in account..like struggling to pay rent type broke
🔥🔥🔥🔥🔥🔥whole page is underatteddd when then catch up millionaires will already be made
Can you do a series of listing the skills that an entrepreneur should work to grow in order? Your math understanding always raises my adrenaline. I need to grow.
Tip number one you should never relying on people for "adrenaline" or any other reason as Elon once said
Alex is dropping some bombs of wisdom here!
Definitely 💯 agree with developing your skills. I have bounced back many times.. even from losing my wife and Bankruptcy. If it were not for the skills I developed I would probably not have survived. This is exactly the reason we developed our channel to help people.
Yes. I agree. develop your skills.
Developed my right hand jerking motion it didn't seem to compound anything, diminished returns actually
@AlexHormosi please please do a step by step of this process and recources for the skills to learn! I just discovered you and you really seem authentic, cool, and knowledgeable. I am 40 and I believed all the bs my parents were taught by their parents and got stuck on all these limiting believs. But finally I realize even though I am completely broke and almost homeless, there is a way, there is still hope.
First step is letting go of all the bs which your parents taught you. I'm in the same boat where there are a lot of limiting beliefs which have been instilled, which have hounded me for way too many years. Money was the thing which I've always been most naive on, in a split belief where I know it can be made with time, and then selling myself short by allowing other people to allocate that time for the amount of money which they are willing to give me.
So at the moment, I'm going through and working out exactly where I wish to spend my time, my work has just changed the spectrum of how they do things, so I'm weighing up, do I go for it and spend my time getting that extra in overtime, or do I allocate that time to do other things like re-frame my mindset, work on business models and then reach out to investors ect. in order to build something which gives ends up giving me cream from the top and moving on, and moving on until I am building wealth from wealth.
I think it's pretty clear the choice that I'm going to be making, now it's just a matter of putting it all into action.
Genius. Patience and wisdom come before monetary gain
How this guy doesn't have more subscribers is amazing. But thank God, because the competitive edge here is razor sharp. Thanks for sharing.
Most people venture into crypto to be a millionaire, meanwhile, I just want to be debt free
Just do the right thing, by trading with an expert, I trust me you will be a millionaire and debt free
You don't make money on forex or crypto by holding your coins rather you trade to make gain.
Am looking for something to venture into on a short term basis, I have about 6k sitting in my savings, what do you think I should be buying?
@@patienceoluchi5134 Then I will personally intro you to Anna Wilson of UCLA Anderson financial institution. Anna has always been the best in that institute, I have been working with her for months now, investing with her is awesome and of no regret.
@@patienceoluchi5134 Face_book 👇👇
You should look more in the camera bro, it seems you are talking to the walls.
Keep up the good work
I had a mission foods route with nine grocery stores and I got so tired of it I sold it for less than half its value. Kinda funny you had mentioned business owners will sell for cheap
The only reason someone would sell a business turning in 250k/p.a. for 625k is because they need the money. Right. Now. The price would be between 1-2 million I guess. This example sounds like a fantasy to me.
Would love to hear you do an episode about the highest value/ROI skills for entrepreneurs (or life in general) and the best systems to acquire said skills! Thanks
He's saying it all over his channel and even has several videos about it: when you start out, your ability to sell, verbally and in (digital) print is going to save your life. Then, at any stage, you need a different skillset. In the end it's your mindset that makes the difference though. That is what he is teaching you here.
this guy 100x his money within 6 years thats amazing props to your bro
Is it just me or is getting a business that's doing 250k in profit for 625k EXTREMELY optimistic/unlikely. Especially paying it in lower instalments than the amount of profit it's doing?
I'm not sure if I'm just not following this, or is he hugely exaggerating to make a point.
Pays 40k for a gym that makes 50k per month AND gets it owner financed for a year with zero down? This dude is full of shit and these deals are fairy tales.
Could have been acquired from someone else and sold to him
you also gotta remember he did this years ago, like almost a decade ago. market and value were a lot different back then
Iirc it’s common for businesses to be sold for 2x-3x their profit.
It’s all very hypothetical that’s for sure.. and it has nothing to do with helping someone who is broke. This guy is a waffler and made his money from those that believe his waffle.. pretty smart or crooked maybe 🤔
There is also tremendous value sitting on the book shelf.
Start reading books people! Don’t just google tips.
Go 650000 in debt potentially fail doesn’t sound like a good trade off
Good way to think differently about investments
I will love to hear the bounce back story from the $1100 Bank account balance
Me too
He took risk and it paid off but problem is when you take risk if his trimming and location had been wrong he would have stayed broke. But I will always remember that when people like him this works for think of all the new gyms that opened a year or two just before COVID that will not reopen!!! For me I was able to pay a 35K loan on 20K incomes in just 5 years so I just go lucky that every risk I took worked but I just as easily could have stayed broke with nothing had it not worked out!!!! For many bouncing back is almost impossible without luck, handouts, etc. Your quote: (I will love to hear the bounce back story from the $1100 Bank account balance)
@@donaldlyons17 the harder you work, the luckier you get
@@sneakykicks7504 No if one is already working one can take better advantage of luck. The odds increase but with enough luck hard work is not even necessary.
$200
Go thru the possessions in your house ,clothing etc . Sell stuff on eBay
I have binge watched all your videos! Keep up the work!
Same here , I’m hooked! Been on 2 days now
@@GaryBryanDobbsSales big facts thank you Yt algorithm do you guys know any other legit dudes like this guy?
Same
@@levelup2014 honestly I don't see anyone else with the trust factor I see with Alex. There are other business trainers I follow. But they aren't as high level as Alex or willing to share information like Alex without selling information through a program. So the others content are trying to sell courses. All that is old to me...
I think im gonna have to XD
Made bad bets and now have 50k unsecured debt. Thank you for your insights. Trying to 10x and get out of this whole.
What happened?
So you’re broke, therefore buy a house & a business 😂
REALLY LIKE the pace of this video! Thanks for slowing it down a bit…😀
This is a super insightful roadmap. I always (incorrectly) assumed that the only way to leverage your money was through mortgages and real estate loans. I would guess that the spread for LTV in real estate is narrower, but if you’re willing to put the time in to evaluate businesses, you could see comparable or even much higher CoC. Interesting. Thanks Alex!
I do love your wisdom Alex but I think your idea of being broke ($50k) is very different to mine, currently £750 in the bank 🤣 skills…hell yes.
this channel is one of the most legit sources of quality info and thought provoking ideas - 💪
This sounds very very similar to Dan Lok's method of buying businesses with little to no money. Either way I'm a huge fan of your videos mate. Love it and keep at it.
Love it, keep talking sense. You're throwing out some good insights.
Thanks for the info. this is similar to real estate with low money down and or seller financing. I have heard that commercials about buying businesses but not about them financing it. Thanks again!
Thank you for this. Really opened my eyes to new possibilities.
Very glad I found this channel
This man's advice is great but high level...I'm at the point where I need to dig myself out of a bigger hole. Unless I'm missing something this is not easily achievable for most. If anything I could broker this kind of deal and take a fee...but my credit and cash reserves don't make this a really feasible option
"this is not easily achievable for most" is straight-up wrong. Anything is achievable for anyone if they want it! It all depends on your mindset if you believe you can or can't achieve something. Either way, you are correct. What do you want out of life? Success Or Excuses, It's your choice!
I would say if you don't have a reliable system to impose that works regardless of the operator then you'll be simply be taking risk. That's probably why you're doubtful of what actions to take.
My advice is don't take big leaps out of desperation. Take smalls steps of certainty until you've mastered it. You gotta remember, most millionaires spent 10,000 hours on their craft and skills. So you need to do more studying, applying, failing, and learning to get that kind of decision making you're looking for bro
Just don't give up...
take the message that applies to you - focus on learning high income skills that you can later leverage. Good luck to you sir
Are you a broker?
@@styleit9314 yes I broker deals part time
I just bought a business that makes 10 million net profit a year for 10k, thanks for the advice!
The biggest challenge it's to adapt. How be able to make more income or have business if you only make 32k per year and going to college...?. Even you have a plan for rentals, agriculture business or even logistic, it's not enough. People need more than plan and determination, they need real advice.
If you find it hard to start a business and you're making 30k+ you really need to reevaluate your spending habits. Far as going to college and running a business you just need to get a time management system in place its not hard once you have that
@@waddup177 where’s your successful business talking like this
@@Mantra1652 Trucking the most expensive part is insurance then gas
thanks!
Wow. Your awesome. You have a new fan. This is the 4th video that I’ve watched from you in the past 2 days and all I can say is wow, and seriously, thank you for sharing this stuff. Keep it up.
I’m struggling with my small business that is fruitful but our banks are not supporting us with the USD currency purchase our goods… instead they help big businesses..
How come this channel does not have millions of subs? Awesome content!
Too many people spend money they earned..to buy things they don't want..to impress people that they don't like. --Will Rogers~~~
Wow Again!! Thank you Sir. This info is priceless and very much appreciated 👍
"I am dead broke, let's say I have 50 thousand dollars" Well done...
Wish he would have elaborated more on where and how to look for businesses that are for sale
I have no idea how I came across you but let me say I am enjoying you very much. I looove the way you speak wisdom. It resonates :-)
Hey, this was an incredible video that was eye opening. I was wondering how I could find motivated sellers who are tired of their business if they are not listed anywhere? Could you please explain how I go about finding those people?
What are you selling?
Biz buy sell
contact people
Go knocking. Door to door to door to door to........
Heres what you should do if you're completely broke:
1. Start delivering food for DoorDash, Uber Eats, Postmates ect.
2. If you have a car, drive Lyft
3. Move in with a friend or relitive and live rent free for awhile.
4. Get an early morning job unloading trucks for a retail store in your area, or a fedex/UPS distribution center.
5. Get an early morning job at a coffee shop. Free food and coffee, every day.
6. Get an afternoon job.
7. Document the process and start a UA-cam channel.
8. Live below what you're making, sell things you dont need, flip things you know about on FB marketplace for extra cash.
9. Stack money, and keep moving in the direction that you want to go/career yoi want to have.
10. Dont stop until you get to where yoi want to be.
11. Save $50 to $100k, then consider investing in thr market or starting a business.
I don't know you personally but I think you are a class act. I truly believe you have what you have because has rewarded you because you give so much and every time you give God gives you more.
10% down on your first house is very unrealistic. However you also said in that hypothetical situation youre making 60k a year for 5 years. That also doesnt happen before you buy your first house unless you rent until youre 30. Most people in the low income bracket only put 2-3% down towards their first house
Learning to trade, program/coding, analyze businesses. Thanks for this video 🙏
I have $15. My credit is maxed out. My savings are gone. I've been searching for work for 6 months. What should I do, Alex?
"don't be afraid of risk learn how to mange it"- Grant Cardone
This is actually a great idea I'm glad I clicked this video, comma I was expecting some sort of click Babe but guy makes pretty clear sense.
My question is, how did the guy let the gym go for 40k when you made 51k in profit the next month? What did you do differently?
Yea, I’m not really sure. I know he comes from a marketing background where he talks about flipping the cost to obtain customers, and the things of that sort. So it very well could be that the gym was only making 10-15 k and he came in and changed the marketing strategies. Not really a beginner friendly method in my opinion but could be possible.
@@themathtutor8601 @Daniel Tebbe in his video podcast with Ghram Stephan he talks about how he would flip these gyms with a strategy he came up with. because the reason these guys would let these gyms go is because they were making less than the sales price . for example if their gym was making $15k a month and this guy comes in and offers to buy it for 40k that’s 2.5x the total income in a month. now after he takes over he starts making $51k after implementing his “skills” on marketing and selling, then he’s able to pay for the gym. obviously if the gym was making $51k a month prior to his acquisition, then it would be a no brainer for the owner to not sell it.
@@rexvortex3222 i think you're wrong, only because the same price usually a factor off the annual income. The objective is to find a motivated (divorce, moving, death in family, retiring, etc) seller. As he mentioned some bsns making $1mil + willing to sell for only$200k. They are tired bsns owners. Good luck
a mindset of abundance makes all the difference. If your mind is set on how much you DON'T have, then that's what you will have.
This is like having a $10,000 value consultation -plusits by a really cool person -so the knowledge sinks in deeper -so im changing that to $100,000 :) thank you for this goodness!!
It's a whole different game today. And this is what worries youngsters. Too much information online. Just have to act on it to gain experience.