Co-founder @ Evermore. We buy founder-led businesses and grow them forever.
2 subscribers
Jul 15, 2023 • 12 tweets • 3 min read
I've met with hundreds of real estate Sponsors/GPs in the past few years.
Most are frauds.
A few are incredible stewards of capital.
Here's what differentiates the winners:
Winners *always* under-promise, over-deliver.
The best Sponsor I know shows the same 13% IRR in every investment memo.
Then consistently delivers 30%+ returns.
Jul 8, 2023 • 12 tweets • 3 min read
Met a surf bum with a sign and mailbox business that cash flows $500,000 per year.
I spent a few hours with him.
Here’s what I learned (and why we bought it):
While everyone's been obsessed with finding the next AI-driven fintech unicorn, my business partner and I have been looking to buy a "boring" offline business.
Harvard MBA’s are turning down $300K salaries from prestigious Private Equity Firms to go buy “boring” blue-collar businesses in rural America.
Here's the irony:
Anyone with an average IQ and a strong work ethic can do this.
So why not you?
Your simple guide to buying one:
Step 1: Study Up
All the information you need is literally at your finger tips.
Start here:
- Buy Then Build (book)
- Let's Buy a Business (podcast)
- Acquisitions Anonymous (podcast)
You'll be 99% further along than the average searcher.
May 1, 2023 • 8 tweets • 3 min read
Another one bites the dust:
First Republic Bank collapses.
The 2nd Largest Bank Failure in US History.
Here are the only 5 things you need to know (in plain English): 1/ This all started with the collapse of Silicon Valley Bank in March:
- Fed raises benchmark interest rates
- The economy begins to contract
- Tech companies need cash
- SVB doesn't have cash
- Forced to sell bonds
- Incur huge losses
- People freak out
- Bank run
- Fire sale
Apr 29, 2023 • 12 tweets • 3 min read
It's been a wild first 3 months posting daily on this little bird app.
In celebration of 10,000 followers, I'd like to formally introduce myself:
My name is Danny.
I'm a corporate drop-out turned HoldCo Operator.
Here's my unusual story:
I spent the first decade of my career trading time for money.
My early 20's were spent working 16 hr days as an investment banker.
Built valuable skills, but sacrificed a lot.
So in my mid-20's I jumped to tech.
Corporate life was comfortable and lucrative.
But uninspiring.
Apr 22, 2023 • 20 tweets • 4 min read
I don't want a job
I don't want a boss
I don't want a career.
I want a Personal Holding Company.
Here's exactly how I'm building it:
I spent a decade grinding:
--> 40 hrs/wk at my day job
--> 20 hrs/wk on my side hustle
I made decent money.
But the pace was unsustainable.
So I quit my day job,
and sold my side hustle.
Now I'm building a Personal HoldCo.
Here's how it works:
Apr 4, 2023 • 12 tweets • 4 min read
There are thousands of cash-flowing internet businesses for sale right now.
One deal can replace your 6-figure salary and allow you to work from anywhere.
Here's a simple guide to buying one:
Step 1: Find brokers
These sites will cover 99% of deals on the market: