Category: Podcast

• Sold off short term rentals and now Large MFH investor

• Started in family construction business for framing

• Started flipping then rentals

• Moved from using cash for everything to using leverage

• You can bring Money Time Knowledge or deal

• Team up with Lane 😛

• Push through bad experiences

• A year of learning MFH before going into it

• Getting your Fannie Mae card is key via a mentor

• Add value to a mentor

• Keep your focus but pivot quickly

• Mediation and running helps him set the day

• Focus on where you want to be

• Check out the classifieds in newspapers

In this episode we discuss:

• Nest automates thermostats and one day in the near future is a good implementation in B rentals

• HVAC or dishwasher breaks and technology can alert you

• Technology good for B and A class

• Class B rentals are having Amazon lockers and these Nest thermostats

• Know your avatar

• At one time backsplash in kitchens was unheard of and now its a cheap fix

• What is standard in the market? Dishwashers, garage doors, laundry price, etc..

• Zillow gives good filters for amenities like washer and dryers

• Ask your property management what is standard

• SFH’s should have the tenant paying the utilities

• RUBS is Reimbursement Utility Billing System

• Skeptic on keyless entry soon but good for short term rentals

• A lot of new hardware and software coming but lets try it out at our own homes first yea 😁

• Use the technology in your rentals for tracking and monitoring

• Don’t have personal relationships with your tenants

• Property manager’s are the most critical people on your team and go off referrals

• Yelp is just angry vendors writing bad reviews for each other

• I look for the negative reviews as a good thing because they don’t want to cave in to resident requests

• A nest thermostat or Thanksgiving turkey might be a good gift to bait a longer contract

Ty Crandall is an internationally known speaker, author, and business credit expert. With over 17 years of financial experience Ty is recognized as an authority in business credit building and is the author of two books on credit named Perfect Credit and Business Credit Decoded. He has been featured by Entrepreneur, Inc, and Forbes.

Ty currently serves as the CEO at Credit where he has helped create and grow one of the biggest and most credible business coaching operations in the United States. We help investors obtain capital to purchase real estate.

Something that you have recently thought about “burning your cash” on for time savings or an improvement in quality of life.

Several forms of automation, most recently an automated system for billing recovery.

www.creditsuite.com, info@creditsuite.com, 877-600-2487

Business credit does not use personal credit

Uses your Business EIN

1) Set up a business, website, physical address, land line

2) Get setup with reporting agency – write to reporting agency to see if you have an existing report

3) Get credit cards using EIN (Do not use Social Security Number)

4) Get Uline, Quill, Grainger, Seaton, Gimler, etc accounts

5) After 5 accounts get Home Depot, Lowes, Cash Credit Cards, Amazon, Sears

6) After 10 accounts get VIsa or Mastercard accounts

creditsuite.com/reports

Buying and Selling Businesses to Financial Freedom with Ace Chapman

[Watch] Full podcast below:

Do you have an inclination to either buying or selling a business rather than creating one from square one?

Curious if it’s suitable for you to achieve financial freedom?

Oops! Don’t imagine just yet! A lot may be having an “act now” mentality.

Creating a startup business become a small business owner, investing in real estate (real estate investor), buying/selling a small business, building an online business, earning through capital gains, are all ideas to start away to building a possible passive income that will generate cash flow and that will increase your net worth.

Remember, you need to relay your business idea (in order to convert it into money) into an actionable business plan.

I know the feeling of jumping to the investor/ entrepreneurial road towards financial freedom. It provides options in life and most importantly it accentuates that there’s more to life than just earning money. TIME.

Buying a business to secure your financial freedom

Until you achieve financial independence, gain money (up to what your standard is) someone else owned your business and left you to work for the rest of your life. You are an entrepreneur, in business looking for money, and you can’t afford to lose that opportunity because you planned to make money before you leave.

Buying a business to secure your financial freedom might feel like a lucrative business, but not realistic for many. Buy sell agreement, considering a public company, simply becoming a business owner is not an easy feat. Moreover, it’s very hard to financially own a business since everything else is yours alone.

I had an opportunity to pose questions to Ace Chapman on how he started buying and selling businesses to secure financial freedom. He bought his first business when he was nineteen and one of many financial decisions he made. It was an online stock market simulator called CoolWallStreet.

After selling it and seeing the benefits of buying a business over starting one, he caught the business buying bug. Since then he has bought and sold over thirty businesses and has helped his clients all over the world buy over one hundred businesses.

Currently, Ace buys and sells internet businesses. Believe this, he had done over 40 deals.

See the Menu of Different Investment Options

Question and answer with Ace Chapman:

1) How much simple passive cash flow are you making today and how are you doing it?

A: I have a portfolio of over 30 internet businesses that create income/ money.

2) What is your Han Solo moment- Han Solo and his buddy Chewbacca from Star Wars were cruising around the galaxy as lowlife smugglers but then cross paths with Luke and Leia and his life took a pivot point. Describe the resistance that was the catalyst for change. Did you “burn the boats” or did you let it happen naturally- was there an internal (you decided to make a change on your own) or external (i.e. got fired from your job) trigger? 

A: My moment was definitely burning the boats. I quit college which basically meant that I was not going off have the normal 9-5 corporate life and set on the path towards entrepreneurship ever since.

Had Your Han Solo Moment?

3) Worst life/business moment and what did you do after? Lesson learned?

A: Losing my first business after having seven figure offers that I turned down.

4) Current 2-week experiment and 6-month project? (90-180 day goal). A mark of a high performer is to put your ego aside and accept the help of others and mastermind maybe folks can help you by you asking.

A: Current 2-week experiment – Taking three breaks a day for meditation

6 month project – Building a life where I live in both Atlanta and Miami

5) What is your simple passive cashflow number? Now imagine you had 2x that amount… Describe your ideal day, detailed routine, and what projects you are working on.

A: Ideal day – Exactly what I’m doing right now. I love what I do. I don’t have to do it but it’s my passion.

Projects – Buying and selling businesses. Helping people avoid the risk and headaches of starting a business and show them how to buy one instead.

Want to Have Your Ideal Day Everyday?

6) Something that you have recently or thought about “burning your cash” on for time savings or an improvement in quality of life.

A: Jet membership

7) Something that you changed your mind on? Our ego often gets in the way of greatness.

A: In negotiating deals, sometimes you end up fighting with seller’s egos instead of logic. There have definitely been deals that I have walked away from because I didn’t want to deal with the seller’s ego.

8) Tony Robbins identifies two large concepts that we are continually struggling to gain perfection at: #1-Art of Fulfillment and #2-Science of Achievement. If you died tomorrow and I were to email this to your kids a couple decades later… this is what they would hear.

Build Your Legacy

a) What is your secret/hack for the “Science of Achievement?” Any secret habits to share? Morning or Nighttime ritual?

A: My secret hack is avoid what everybody else is doing. The greatest opportunity is always found where the fewest people are looking.

Morning Ritual – To start the day with as much positive energy and emotions as possible.

b) What is your secret/hack for the “Art of Fulfillment?” How you do contribute back?

A: I joined a Big Brother mentoring program.

Look, the intention of this podcast article is to help you understand how buying and selling a business, as an investment, can help you achieve financial freedom.

Yes, it’s true! Cash flow is important for the financial success of any business so better consider it when buying or selling a business.

If you prefer this type of investment or additional income stream whether as a sole proprietorship, partnership, corporation, or cooperative then it’s yours to decide and consult an expert’s (financial advisor)advice.

Build a business, invest the profits – how to achieve financial freedom

Again, this will not sound true to all because there is a business owner who prefers to purchase an existing business suggested by a business broker.

A business broker can: 

• Assists the potential buyer about the business that is being sold

• Helps the future buyer or seller in the ownership of the business

• Tasks to come up with a favorable price as a business entity (possible give advice about business loan, seller financing, exit strategy)

How to build a business to achieve financial freedom is an interesting and well-balanced question.

It may be more challenging than buying an existing business. But as with any amazing journey, the terms “business” and “investing” are very confusing. My first step to achieving financial freedom is thinking about how to invest the profits generated in it to achieve financial freedom.

Hold that thought!

I know that this article is about buying and selling businesses but I want to emphasize that the process continues with real estate investing, like making money (cash flow).

Making money when buying and selling real estate to generate passive income in it.

Real estate investing involves the analysis of assets for real estate then concentrating on its increasing profitability. As one of the few such setups, real estate investing helps you generate passive income. One fortunate thing about real estate investing is an accident rate on a low drop in wealth. Also, this investment strategy is very straightforward to negotiate with your financial advisor. You can also watch videos about wealth building through real estate investing.

Investing in great businesses over the long run is an unrivaled path to financial independence

Just because you have great businesses doesn’t mean you should be in it.

This is simply to tell you, invest in good-quality businesses over the long run. This is not to advocate investing in a business that will eventually become taxable, but rather the unrivaled path to financial independence. But in doing so, keep this in mind: plan it-diversify, dive into real estate investing, invest in the best long-term stocks/companies, and if no one discusses financial independence, never invest anything. You have to be doing your tax planning. Don’t save money on education-invest in it.

Sound silly? It’s not.

Based on the record, only 20% of individual and small business owners achieved their financial goals, but it is possible that some are getting there and simply not vocal about it through social media. As stated, investing in real estate in fact boosts your trust and, you can use your passive income to minimize debt/expenses and at last achieve financial freedom. If you want to level the playing field you can still invest in these assets to increase good business and asset performance.

How do people achieve financial freedom?

Besides buying and selling businesses, in order to achieve financial success, you must compound your income – and not literally, but indirectly when investing. More importantly, it is believed that the key element for your success is compound interest. The basis of wealth & investing is with actual returns so you can pay a lot more in annual dividends.

Read on and learn if you want to live with the other wealthy Americans and achieve financial freedom with the right system in place. Isn’t it right to invest the last 10% of all the retirement you have saved in your 401K, SEP, or similar as a tax-free way to build wealth?

Everyone has these living expenses set for the future. Make a plan to maximize your monthly income by planning your monthly expenses, including any income stream that you may be able to live without.

In truth, once you are reaching the ‘golden age of retirement’ you will soon realize how any type of investment will become handy. It is better to establish a passive income even while you still have a predictable source of income (active income).

Additionally, even if it’s not as evident as it may, personal finance poses a role in financial freedom. You don’t have to be loud on social media as long as you are benefitting from compound interest, life insurance, residual income, rental property, Wall Street (stocks), mutual funds, or retirement account.

Your financial goals are yours if you think about them.

Catch Ace Chapman on his social media accounts:

• Instagram – ace.chapman
• Twitter – acechapman
• Youtube – Ace Chapman
• Facebook – Ace Chapman
• Website – www.acechapman.com