How he finds 200+ old profitable biz's to buy a year?
LOVE our Cashflow FB group, Mike gives us the shakedown:
The where's waldo of deal searching... 👀
2 primary methods:
Step #1: Public Websites featuring businesses for sale (duh)
- 1 hour a week reviewing listings that meet his “buy box.” (aka tall, dark, handsome criteria)
- If it meets his buy box, he request NDA, sign it, and return it.
#2 Receive the ”confidential information memorandum.”
- TSSCI (who knows what that means? 🔎
- Have a VERY small “buy box” and is SUPER greedy
- Can still easily find 5 businesses every week
I'm actually concerned we may default on our national debt.
Anytime a country has gone to 130% det / GDP it has been a metaphorical point of no return.
The country has defaulted, a 🧵based on an industry report that got me humming.
Story time: Over the past 200 years
98% of nations that hit 130% defaulted on their debt (usually through inflation.)
Japan is the only one in 200 years that hasn’t defaulted BUT
Japan is rare...
Japan is a nation:
- in budget surplus (i.e. they run a net profitable biz)
- internally funded (i.e. they buy their own goods)
- with a Net Int’l Investment Position (NIIP) of +70% of GDP (aka they save a lot, and can ask for their $ back from other countries i.e. US.)
A thread on how others words can engrave your soul:
I started a practice 10 years ago.
Every book I read I would write down the words that spoke to me.
Creating my own bible.
So that when times were dark, I had a light.
These are the ones I come back to again and again.
Emotion haunted his face. It was anguish, some kind of anguish, and the dull, stoic anger that hangs in the eyes of repetitive, ill-paid work.