Master this formula. Get Rich

How'd I make my money? What was my edge? I knew how to scale using everyone else's money. Here's exactly how

How'd I get into fuel distribution, how'd I scale? What let me retire in my 40s with no education? The Scenarioa

- Find a gas station where you buy the biz & property
- The the biz has to be worth at least 20% of the purchase price

Ex: $1.5MM purchase price, biz value needs to be $300k+ After you sell the biz, the rent you collect has to cover the note plus 20%+

Introducing.....The Gas Bag

Took a trip to see "The Gas Bros" and see what the hype is all about

It was the most fun someone could have at a gas station

So what is this legendary Gas Bag?
I'm a carnivore but I made an exception and gave it a try

Grab a bag of your favorite chips, open it up, add your favorite protein, fresh veggies, pour on some sauce, grab a fork and throw down

Super creative and delicious

That's just part of the magic. What else did I love

See you think Warren Buffets just an innocent man but in real life, he's a sly old dog

Let me explain what he's been up to 👇 See back in '05 the United States required oil companies to add Ethanol to their gasoline (complete nightmare btw) and then doubled the requirement in 2012

So what do you know happens next

Took a social media detox. Highly recommend it. Everyone will be here when you get back

Didn't waste any time. Here's what I've been up to

Remember the GBG 911 challenge?

Two of five sold. Money in the bank. What else👇 Remodeling two car washes. Love my system. Can't wait to share it but can't say too much until I hit my goal

Nobody's getting rich off one gas station

To get wealthy you have to be able to scale. Period.

Here's a quick down and dirty if I was 30 how it would look if I only had 100k 1st location - I only have 100k. I found a location like this

It's cheap and dirty. I'm taking the owner fi option with the real estate

My shift 6am-6pm seven days a week. Relief comes in at 3pm and he stocks, cleans and I do banking

I think I lift sales 20% net 100k/year

The Chevron is 20 cents a gallon cheaper than his competition and no cars

I hung around to try and find out

This is a perfect example of operators discounting prices to get people in the door vs investing in their site and having a full margin

Here's what I think - The more expensive location is freshly painted, excellent signage

- The store with no business is in need of being painted

Dead giveaway and cheap fix

Next is what I found interesting

I roll up on a gas station I want to buy and I start sizing it up.

Here's what starts going through my head.

It will always be one that is either closed or a value add situation. So where do I start? Follow along 1 - I look at the tank pit. If it has suction pumps I'm out

See the tank pic here. If there is only a cap where we can drop fuel it's a suction pump

I see a larger lid several feet away from it so I know there's submersible pump and I'm still in

What about EPA?

You lost it all. You have $15k, a pickup truck, and a strong work ethic. Now what?

Here's exactly what we did to build a cash cow that's provided for our family for 13+ years

Selling used furniture. Here's how we did it

No experience neccessary How's it work?

People bring you their used furniture. You set it up in your store, sell it and split the profits.

Set boundaries. Everything needs to be:

Clean
In Good Condition
No smells

How do you price it? Ebay, Marketplace, etc..there's info out there.

I buy dirty gas stations - that's what I do.

- I take stores people are scared of
- Inherited gas stations and don't know what to do
- Stores in bad repair and need a facelift

I breath life back into them, bring them back to their glory days.

Here's the steps 👇 Let's go over the one from yesterday.

Drive by it daily. It's closed but a good location. I think I could do something with it.

First stop is to the County commissioners website. Here's what I find.

How do you take a ratty old gas station like this and print millions of dollars.

This is my 1st store. Doesn't look like much, does it?

Let's talk about it. I'll give you the steps I took to build generational wealth and education that makes me laugh at Ivy leaguers The market and how we exploited it

1st - Public transportation built a train station across the street

We had an 8 bay repair shop to fix cars. 100's of people commute in from the suburbs. Drop their cars off at our shop and go to work

Business 🚀🚀

Let's fix payroll 👇

Perfect example of good idea, terrible execution

Let's take a look at what's going on here.

We will start with what can't be fixed

And some no brainers #1 - DO NOT EVER BUILD A GAS STATION IN A HOLE!

The elevation situates this store at least 8' below grade level at the road.

What makes this twice as bad?

You pick a loser location!

Why would you buy that old POS??

Here's why. Know your market. Find opportunities where others see problem.

This place is a loser. Or is it? Q: Why did it close if it was a good location?

A: The operator - a favorable lease and fuel supply agreement was not available. It only attracted low level operators. Under capitalized and unmotivated.

As a landlord you get a reputation. Difficult landlords get bad tenants.

How to lose $1,000,000 in the gas biz

This is what happens when a mildly successful store operator believes he is a developer, invests his life savings and loses it all.

I have seen two people lose a fortune here.

Let's see what went wrong 👇 You look at the location and you see

✅ Roof Tops
✅ Traffic
✅ Limited competition

All components of a great store BUT let's go back to some rules

You want to get started in the gas biz but you don't know where to start.

Here's a list of steps you need in order to go from observer to owner. 1) Education - The first thing you need to do is know how one to run one of these beasts. Here are some resources to get familiar with.

If you don't have experien
a. @CSNewsOnline
b. @NACSonline
c. @CStoreDecisions

There's a progression from store owner to distributor to building generational wealth -

I have seen and lived this firsthand. It's useful for anyone in the business or someone just starting out.

Like, retweet and spread the good news Step 1: Learning - You start as a manager or lessee. You learn this real-time it's not in books:

- Managing employee's
- Product Mix for the neighborhood
- Handling customers
- Budgeting
- Margins
- Networking the community
- Support your family

My proven system of building wealth through real estate will beat anyone on here. I should be selling this course for $1000 a pop but here it is

Take 3 mins to read this, and change your life.

🧵 Here is my secret formula that boosted my portfolio, making c-stores a superior investment compared to self-storage and multifamily properties, and anything else I've seen. So, here's my playbook:

A frequent question I get is about gas station values. Here's a formula I use.

Bookmark it for the future!

This is for the business only and does not include the real estate, equipment
or inventory Step One:

Figure our the Seller's Discretionary Earnings (SDE)
Here's the formula

SDE = Net Profit + Owner's Salary & Benefits + Discretionary Expenses - Non-Recurring Expenses + Interest + Taxes + Depreciation + Amortization

Riddle me this -

Real life scenario I struggled with for years.

Site A sold 1/2 as much gas as site B - they were located on the same road and separated by less that 500' from one another.

Conceptually A should pump more than B

Particulars below Site A:

Tradition full service garage with a c-store conversion
Always ranked superior for service and cleanliness
24 hours
4 gas pumps stacked
Going way corner and light
Pumps 5ok/month over 100k inside sales
Low price leader by 2 cents per gallon
Branded Exxon

Here it is folks -

The first ever GasBiz guarantee

If you read 1 thing on Twitter today let it be this, it's a game changer.

How'd I get rich? How'd I get into fuel distribution, how'd I build a 7 figure rental income portfolio.

With NO money down? At a High level:

Find a gas station where you buy the biz & property. The the biz has to be worth at least 20% of the purchase price.

Ex: $1.5MM purchase price, biz value needs to be $300k min.

After you sell the biz, the rent you collect has to cover the note plus a profit

Your financials are the lifeblood -

Let's make it easy, these are important to know.

As entrepreneurs we are quick to let this slide. DON'T

Some of you don't know where to start but here are the four quick down and dirty metrics I use to make sure business is on track. Net Profit Ratio -

Net Income/Sales = Net Profit Ratio

This ratio measures if a business’ activities are profitable or not.

A net profit ratio of 10% means that for every $100 dollars of sales $10 was goes to the owners.

A few years ago, a broker representing Chick-fil-A approached me regarding one of our interstate locations. Let me take you through the journey of how it all unfolded, complete with the obstacles we encountered along the way. At that time, I had a tenant happily paying $5,000 a month and also purchasing fuel from us. This tenant had a five-year lease with a five-year option. Now, here's where the drama begins: when the original lease expired, the tenant failed to give notice to exercise the option.