$100M CEO Shows Me How to Sell A Business
Wealthy Way
Ryan Pineda
4.9 • 2.2K Ratings
🗓️ 14 June 2024
⏱️ 97 minutes
🧾️ Download transcript
Summary
In this episode, I sit down with entrepreneur Eric Spofford. Eric is the CEO of Spofford Enterprises and has an incredible story. From being a drug addict to getting sober and building one of the largest addiction treatment organizations in New England, which he sold for nine figures in 2021, Eric's journey is truly inspiring.
We talk about Eric’s $100M sale and how he founded his rehab facility at 23, inspired by his own struggles with addiction. Eric shares his experiences as a seasoned real estate investor and developer, and we dive into his ventures with Spofford Enterprises, which oversees investments in commercial and multifamily real estate, private equity funds, a media company, and behavioral healthcare businesses.
We also discuss Eric's journey into social media and what’s next for him. Eric has numerous accolades, including testifying before the U.S. Senate and being awarded Young Entrepreneur of the Year by the U.S. Small Business Administration. This episode is packed with insights and inspiration for entrepreneurs at any stage.
Tune in to hear Eric's incredible story and learn from his journey. You won't want to miss this episode!
Learn how to invest in real estate with the Cashflow 2.0 System! Your business in a box with 1:1 coaching, motivated seller leads, & softwares. https://www.wealthyinvestor.com/
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About Ryan Pineda:
Ryan Pineda has been in the real estate industry since 2010 and has invested in over $100,000,000 of real estate. He has completed over 700 flips and wholesales, and he owns over 650 rental units. As an entrepreneur, he has founded seven different businesses that have generated 7-8 figures of revenue.
Ryan has amassed over 2 million followers on social media and has generated over 1 billion views online. Starting as a minor league baseball player making less than $2,000 a month, Ryan is now worth over $100 million. He shares his experiences in building wealth and believes that anyone can change their life with real estate investing.
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Transcript
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| 0:00.0 | You exited your rehab facility company for 115 million back in 2021. |
| 0:05.0 | A lot of people don't even know, but you exited the real estate of that in 2022. |
| 0:10.0 | I was the owner-operator CEO of the growing business but at the same time I had a real estate |
| 0:17.0 | holding company that I was developing the real estate assets in a leaseback program to the |
| 0:22.4 | growing company. |
| 0:25.0 | So we were talking about this, like you exited your rehab facility company for 115 million back in 2021. |
| 0:33.0 | A lot of people don't even know, but you exited the real estate of that, in 2022. |
| 0:38.0 | Yeah, yeah, you know, obviously the headline of 115 million dollar exit kind of stole the spotlight, but what wasn't featured |
| 0:45.4 | in that is all the real estate development I did alongside it. |
| 0:49.1 | And so I was the owner-operator CEO of the growing business, |
| 0:56.4 | but at the same time I had a real estate holding company |
| 0:59.8 | that I was developing the real estate assets in a leaseback program to the growing company. |
| 1:05.9 | Yeah. And so creating this entire ecosystem of wealth creation, tax benefits, cash flow, etc. |
| 1:15.0 | And then eventually sold the business for $115 million, |
| 1:19.0 | worked some gymnastics on the lease structure on my way out created an even more value in the real estate as a result of it and then sold that off to a publicly traded reed the following year in 2022. |
| 1:34.4 | Yeah, you had great timing. |
| 1:35.7 | You got rid of the real estate before things so much of my story. |
| 1:39.8 | They're like, oh, you're so good. |
| 1:41.2 | I'm like, dude, I'm kind of of good but like so much of it was timing it |
| 1:44.4 | really was yeah I mean December 21st 2021 is when I sold my business when you think |
| 1:50.1 | about the highest travels highest highest multiples, lowest interest rates, everyone's |
| 1:55.4 | happy, you know, cryptos through the roof, they're selling pictures of, you know, |
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