Is this the Opportunity of a Lifetime

0:00This episode is brought to you by Indeed. Stop waiting around for the perfect candidate. Instead, use Indeed Sponsored Jobs to find the right people with the right skills fast. It's a simple way to make sure your listing is the first candidate to see. According to Indeed Data, sponsor jobs have four times more applicants than non-sponsored jobs. So go build your dream team today with Indeed. Get a $75 sponsor job credit at Indeed.com slash podcast, Terms and Conditions Apply. Opportunity of a decade. You have probably heard versions of this in the small business area. Maybe Cody Sanchez, Alex Hermosi, Gary Vee. Maybe you've heard about it in boutique hotel shoot. Maybe you've heard me talk about buying apartment buildings. What am I talking about? Well, folks, baby boomers are starting to retire. They're starting to liquidate assets. Some of this means you can buy on seller financing. Some of these means you can buy for distressed prices. But yes, is the opportunity of a decade boomer transitioning real?

1:01Or is it just focus, focus? Bo, I know you got some stats on this. What do you say? Yeah, I think it's very, I think that it's true. There's going to be a lot of transition. Not only in business, but in real estate, right? You're going to get enough people are going to be retiring and they're going to be downsizing their houses. They're going to be selling their businesses. And oftentimes, some of these people just shut their businesses down because they don't have any kind of succession plan. And they a lot of businesses that get listed don't even transfer. You know, there's only like a small percentage, maybe like 12 or 13% that are listed by a broker actually sell, which is interesting. The difference really is that the difference between real estate investing and business ownership in my opinion is. Business ownership is very much more fragmented and obviously a lot more work. But it's very fragmented and yeah. And then you come to the realization in the business world that.

2:03There's levels to the game and I was just I just took a mergers and acquisitions workshop yesterday. Oh nice. The instructor, his name was Bill, he owns a M and A company. And he represents like corporations that come in and buy. So so just imagine like a minnow swimming in the in the pond, right? And then a big, you know, a trout comes up and eats that. And the trout might be a private equity. Then there's these big corporations that are the whales that eat those. So there's what you learn is that there's levels to the game. That's the thing like you can easily get humbled when you look at the big equation of everything. But the good news is is we don't need to be a whale because we just need one viable business. And the people that are winning are doing the same things we talk about on the show day and day out. You know, define a buy box, look at deals in that buy box. And then rule them out and then, you know, go deep when you find something that's very interesting to you.

3:06I just talked to an investor the other day. And he, he provides like small equity injections or, you know, he invests as more of a passive owner. And he, he'll look at 200 deals and they'll invest in one and he, you know, his average investments about $100,000 per deal. So it's the same principle. You got to look at deals. And so the guy that I helped buy that $10 million business through the financing aspect. And he got a circle back to me and he said his revenues up like 50%. And he now is buying another business. Nice. That like a complimentary business to this business, right? So like there's, I do think that there's a huge opportunity. I do think that AI is going to be a huge disruption. And like the early adopters are going to, to be able to do this. Because now with the automation, so you can just crush it. I mean, I, I think about, you know, some of the people I was talking to in the boat boutique hotel space.

4:06What's really, really interesting is when you look at the history of the hotels that the boomers own. They typically own them on the best patch of dirt in town. Because they built them 50 years ago. And then the town filled in around them. Also what's interesting is they're generally not using tech. They're not even using the web. Let alone AI. Right. I mean, they're not using these situations. So again, you can go in and just get them on the standard, you know, Expedia booking sites would, would be a huge lift. You can start getting AI assistance to, to check people in and, you know, upsell, you know, late check in things of that nature. I really do think. You know, working with baby boomers, you know, to sell. Especially if you can get financing small business financing with some seller financing. They are cake right stack the deck or the debt. And then you just bring tech. This is why your friends already up 50% because he bought a building or bought a business.

5:06And he just brought new energy, new vitality and new tech. And it's not even matching. It's just simple blocking and tackling. So I, I hope a lot of people, you know, start having, you know, start reaching out to baby boomers and start talking about buying their businesses or buying their hotels or buying their apartment buildings. Just makes total sense. Yeah, the other thing I realized when I was at the International Franchise Association last week was like. How big the world really is and like the opportunities are all around us. And I think getting yourself in these other, these different environments where you actually sit there and like you're learning for people that are doing bigger deals. And understanding like, what are they doing? How do they evaluate deals? Like that's never going to, you can, you could improve every single day if you want to. So it's like it's up to us, like figure this out. But the guys that actually, guys and girls that actually do it and actually take action. They're looking at deals every day. Like this, this kid that bought the $10 million of business.

6:07Looking at deals every day found the deal. Boom, he locked in on it. $4 million a year in cash flow from that one business. 300 grand out of his pocket. So you don't need millions of millions of dollars. You can start with 30 or 50. So tremendous opportunities. It's just who's going to, who's going to take action? And what Cody was talking about at the IFA keynote was just like how fast you have to be able to implement today. Because things are moving a lot quicker. It's kind of scary for a lot of people, I think. That like, oh, well, I don't want to change. I don't want to change the things I'm doing. But every company at the IFA, all the marketing companies, they all did something in AI now. You know, hey, this is how we get you leads. We do, you know, virtual door knocking. We do even in real estate investing. You're seeing a lot of these high level wholesalers like Adrian, right? Doing lots of big transactions.

7:08What are they doing? They're using technology to their advantage. Yeah. Again, there's a lot of, I mean, if you're really, so I can think a couple of things are true. One is this is going to be the opportunity of a decade. There will be more wealth transferred in the next decade or two. Because baby, father time is undefeated. And right now, baby boomers own something like 40 or 45% of all small businesses. All of those need to transact. Most of these will not transition to the next generation. There will be some, right? There maybe is 10% or so that I'll go from father to son or mother to daughter or what, you know, what it'll stay in the family. But most of these won't. And to your point earlier, if they don't transition, they're going to go to zero. Right? They're just going to shut down. And that is, that's unfortunate. So I really do see a lot of a lot of potential out there. And especially if you look at what's going on with the threat of AI and white collar and all of those things.

8:10It might be the time to go, hey, my plan B is running a, you know, AC company or a painting company. And again, you don't have to lift the paintbrush. But you, you know, you could run them, run the operation for sure. Yeah. I think that intimidates a lot of people like. You know, they, they, they're incorporated. They're like, well, I don't know if I can actually do it. Like they're, they're comfortable. Yeah, I understand. And that's fine. Come being comfortable is fine. But if you're a doer and you want to do it, like do it, right? And I think that's the. Like get it, get yourself around people that are doing it. And like, you know, your school community. I always see people chime in. Like people are doing it, right? They did. They're taking action. And that's how people go. And all of a sudden, they start with zero rental properties. And like you see them two years later and they got 20 doors. It's like, how did you do that? Right. They took mass action. Massive action. Massive action. Yeah. Exactly. But yeah, it's exciting, though. I think we're in it in a very exciting era. I mean, there's a lot of uncertain things happening in, you know,

9:10in the world with wars and whatnot going on. But ultimately, you know, if you do everyday wealth building, if you're in an everyday wealth builder, just keep doing that. And barrier, you know, keep going forward. And like that's the opportunities. And I don't care if you're starting with bending or whatever you want. Let's start you something. No, I think you're right. I, one of the things that I think we need to do a better job, you and I, is just remind people of the bending being that kind of easy on tray into entrepreneurship, especially if you're a parent, maybe you have teenagers or whatnot still at home, really making it a family project, get the parents attacks right off, have the, have the kids, you know, do their one hour a week or whatever it is, per machine, and really make it, you know, you really can, you really can start something with bending. So again, I think it's something that more and more people should reach out and call you about, because I think it could be a family, really a family run business, which is great for the parents taxes and great for the kids, you know, work ethic and all of that. It's pretty cool. I just talked to a wreck guy yesterday,

10:11Northern California law enforcement does fairly well, but he's burnt out of being a law enforcement. And he was like, he wanted to get my take on starting a cleaning business. And I said, well, we started talking about franchising. And I said, you know, you could bootstab it, you could do a franchise. But I said, you know, you're dealing with employees and like he had a family. And I said, you know, maybe I brought up bending and then he brought up his kids. And then I said, yeah, yeah, your spouse isn't working, right? And he did, he's like, look, I know I understand, unless I get a ton of machines, I'm not going to make millions of dollars. But I said, you know, tax right off. Yeah. And he was, he was about getting his kids involved. And there you go. Yeah. And I'm seeing that more and more. I had a conversation with a guy today who was pretty, sounded pretty successful. He's a professor at a university and teaches finance. And his son is like 30 and works for a good,

11:13some big firm, but he's going to help his son. And now this guy's got a little bit more capital to help, but like they're going to do something big together. So whether you start small, bending, or you want to go big, because you might have excess capital, then look, you know, there's something for everybody. So it just got to really figure out what that something is. And like just learn about it and take action. And don't second guess yourself a million times. That's kind of the biggest thing I see is that people don't take action. And so. Yeah. Well, let's go back to, I always interested in your thoughts on Cody Sanchez's keynote presentation. Any big takeaways? Did she just rock the room again? What, what, what did Cody have to say that you thought was interesting? Um. She's really evolved, I guess, since like now, she's, she's really good at presentations. Like she's well polished. Yes, she's very polished now. Yes. It's like way more.

12:13And she can read the room. Like I think she's pretty good at reading rooms. Uh, I thought her presentation was really good. And she just taught, she has systems for everything. And now she hires like a players and like she has a whole process for everything. I don't know how big her team is now. And I don't know how much, but. Yeah. She has 30. She has like 30 companies or something like that. Wow. She's good for her. So that's an example of somebody that hockey stick. That's not the average person, but she's impressive. Regardless of, you know, what the actual numbers are or whatever. She's just impressive from the standpoint of. I agree. Going from, you know, Cody who worked for like investment banking firms and probably. If you worked in investment banking, like you're probably pretty sharp to begin with, right? Like she did. Yeah, you're certainly not going to rise in the ranks without being sharp. That's true. Yes. Yeah. But I think the big takeaway as I said, the big thing she really emphasizes, like, look, you got to move fast.

13:14You got to implement and you got to hire eight players on your team. So that's the way you got to look at it. And what that encouraged me to do is like, I. Realize that every time you make a step forward, you realize it's just a certain level of the game. And so like, you know, to some people, somebody that own 10 rental properties is like on a pedestal. But then you meet somebody that owns 150 and they're on a pedestal. And then you meet somebody who has a billion dollars of real estate under management and they're on a pedestal. And it's like, you can never stop growing if you want. And I think the reality of it, it comes down to is what's good for you? Like you're good, right? Like you said, hey, at 45, I'm cool. I don't need to be mega. I'm cool. I can afford whatever I want. Take much of occasions. So what is that for you? To find that and get a coach, get a mentor, join groups and then, you know, get one percent better every day. Like the other day, I was like, I want to get better.

14:14I'm getting older. I grabbed 125 pound in each hand and I did farmer's walk carries with 125 120. So that was like 240, right? That I was carrying. And I was like, like you can get better every day. And even as you get older and fitness, like when I saw you go from 34 to 10.6 percent body fat, that motivates me. And that's why I think people stay around this channels because I want to be around people that freaking motivate me. Because if not, you're, if you're not growing, you're dying. And I don't want to be dying. I want to be growing. Hey, that's the reality. So I think all of us out there, just we're here for a reason. We're on this channel. We're watching this. We're listening because we every day wealth builders. I love that because that's really what it's all about. It's like keep growing. And the opportunities are abundant and the opportunities are just, you know, all around us. And you could just go on a YouTube right now and go to one rental at a time and plug in and listen to somebody that's talking about some sort of investment strategy.

15:17And you'd go dig on that and that might be your, you know, your co-living or your attestate investing or your one rental out of time. Whatever that is for you, that's the beauty of YouTube University. Never before we had such amazing opportunity. No, I love it. I do want to make one small clarification, bow. I don't take vacations. I take trips. I'm just saying I don't need to take a vacation for my life. I take trips. I'm just, I'm just teasing. No, that's true. You have the wrong, you have the wrong banner up. It should be guys go to one rental meeting.com. Oh, one rental meeting. I'm sorry. You fixed that. You're right. You can talk to me. I love talking to ORAP people. You know, if you need to kick in the booty, I'm happy to do that. I'll, you know, the one thing I'll say is I'm busy. So, you know, stay on top of me. If you don't hear back me for like two or three days, make sure you're texting me. But if you get a one rental meeting.com, it's the best way to get a hold of me and then get some time on my calendar.

16:17Let's talk about business acquisition, franchising. Uh, you know, maybe building a commercial property with SBA financing. Many different use cases that I can probably be a assistance for you. And I have a wealth of friends like Zuber all around the world that might be able to help you too. Yep. One rental meeting.com. He bought a URL just for this community. Go to it. Get your 15 minutes. You will thoroughly enjoy it. Bo is a very nice man and a full of knowledge. And he only wants to help, which is really, really cool. Bo, you're amazing. Thank you guys. President Barack Obama. Virginia, we are counting on you. Republicans want to steal enough seats in Congress to raid the next election and wield unchecked power for two more years. But you can stop them by voting yes by April 21st. Help put our elections back on a level playing field and let voters decide not politicians. Vote yes by April 21st. Paid for by Virginians for fair elections.

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