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Codie Sanchez Profile picture
@Codie_Sanchez
May 16, 2021 • 10 tweets • 3 min read • Read on X
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Oh hey there... so you wanna buy a laundromat?

I heard ya. SO - some of the tools we use to buy 'em.

Also remember - he who keeps it stupid simple wins. A thread on deal docs:
How do I know this isn't a lemon?
Oh that's a good q. You need a deal calculator.

Here's how we measure it. Super simplified but it lets you not waste time on sh*t.
It's not an IOU, it's an LOI (letter of intent):
Fancy way of saying, Hey Homie, I'd kinda like to buy your business.

BUT I'm not proposing, we're not exclusive, we're just dating. Cool?
Your biggest expenses in laundry land are:
- Water💧
- Rent🏠

It's the 80/20 rule. Control the 80% and you can handle some loss in the 20%.
Getting due "diligencey" with it (ugh, that was a stretch)
- DD is how we private equity peeps dig into deals to see if they will ROI well
- This is a sample of one of our sheets for analysis

*Sidenote: I LOVE TEMPLATES, makes it easier to never get emotional w/ a deal.
Sometimes biz owners lie about their profits (SHOCKING - I know)

- So if the tax returns don't match the profits, you go count quarters.. I honestly love this, it's so oddly rewarding stacking coin
Creating a P&L
- Basically - are you getting what you paid for, can you run it and profit, throw it into a spreadsheet and math wins.
Thought we'd get your beak a little wettttt on how these deals get done.

1st deal is always the scariest, then you realize deals at $100M or $100k rhyme.

It's not easy, they're called sweaty biz's for a reason. BUT it is doable!
Holler in comments if you want the full stack of deal docs.

Or go check out Unconventional Acquisitions...
You want these bad boys?

Get on our free email list: we got a special surprise for Contrarians this week:
contrarianthinking.co

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More from @Codie_Sanchez

Codie Sanchez Profile picture
Jun 30
I just spent 2 hours with a guy who sold multiple AI companies for $400M and built AI systems for the Pentagon.

He broke down AI's current influence and future dangers in ways I'd never heard before.

Here are the 8 most important things he told me: Image
AI Already Controls More of Your Life Than You Realize

Here's a stat that blew my mind: AI mediates 20% of your waking hours.

That's 1 out of every 5 hours you're awake.

The posts you see. The products suggested. The news that reaches you.

Most people have no idea how much AI is already shaping their thoughts and decisions.
We've Become a Nation of Order-Takers

In the 1800s, 80% of Americans owned something - a farm, a business, their means of production.

But today? Less than 10% own a business.

We went from owners to employees. From decision-makers to order-takers.

This shift makes us perfect candidates for AI dependency.
Read 10 tweets
Codie Sanchez Profile picture
Jun 27
I asked a former Secret Service agent her secrets to reading people.

7 lessons from Evy Poumpouras on manipulation, lie detection, and influence: Image
Stop Talking So Much

People think they need to explain themselves, defend their position, or fill every silence.

But when you're talking, you're gathering zero intelligence—you’re just focused on yourself.

The quieter you are, the better you become at picking up cues.
Not Everyone Deserves the Same Access To You

For years, Evy watched presidents assign people to ‘concentric zones’ of trust:

- Inner circle: High trust
- Outer zone: Friendly, limited trust
- Acquaintance zone: Networking only
- Outer circle: People looking to destroy you

You can be kind to all, but don't let everyone in.
Read 8 tweets
Codie Sanchez Profile picture
Jun 26
I love this quote from Marc Andreessen:

“If you know what you want, and you go for it with maximum energy, the world will often reconfigure itself around you much more quickly than you would think.”

5 cheap ridiculous things we did in the early days that oddly 10’xd our biz: Image
Before starting Contrarian Thinking, my resume looked like it was written by ChatGPT after six shots of whisky:

- Walmart model
- Reporter in Latin America
- Wall Street analyst
- Private equity investor
- Laundromat owner
- YouTuber
- Fund manager Image
When you zoom in, it looks deranged.

But when you zoom out? There’s a common thread of ownership, finance, and a DEEP hatred of waiting for permission.

Which brings us to Year 1:
Read 11 tweets
Codie Sanchez Profile picture
Jun 19
Everyone's either excited about AI or thinks it'll steal their job.

I used to be on the fence.

Then I hired a full-time employee just to integrate AI into everything we do.

5 tools that made me 3x more productive in 6 months:
1. Whispr Flow

I don’t text anymore because of this.

All you have to do is hold Fn, speak naturally, and watch it transcribe your words perfectly like a court reporter.

It capitalizes names, adds punctuation, and even writes “fuck…” (it knows we never actually mean “duck” lol)
This makes me 200-300% faster at typing.

My employees call me "the bane of their existence" on Slack because of how much I can get done now.

If you're older and type with two fingers like my dad...

You'll never need to learn proper typing again.
Read 9 tweets
Codie Sanchez Profile picture
Jun 11
The best founders do one thing brilliantly...

Hire.

It sounds easy. It’s not.

Here’s how we think about hiring for our portfolio companies:
Most owners hire like they're running a restaurant.

They think more cooks = faster service.

Instead, they get a kitchen full of people bumping into each other, burning food, and blaming everyone else.

That’s why hiring isn’t a numbers game.
You don't need more people. You need the RIGHT people.

It’s impossible to build a worthwhile business with mediocre talent.

A great example of this is Apple:
Read 15 tweets
Codie Sanchez Profile picture
Jun 10
The fastest way to build a memorable brand is to pick a fight.

Here's a simple framework to define your enemy and build a magnetic business (The 3 Vs):
Harley-Davidson figured this concept out in the 80s.

They were getting bodied by Honda and Yamaha's smoother, faster, quieter bikes.

So Harley said screw it.

They stopped selling motorcycles and started selling middle fingers. Image
Harley leaned into everything their competitors weren't:

- Loud noise
- Leather jackets
- American steel

Were the bikes better? Not really.

But they gave people something to belong to... Image
Read 12 tweets

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