#176 with Codie Sanchez - Buying Distressed Assets, Real Estate for Cheap & How to Network Like a Pro

My First Million

Hubspot

Entrepreneurship, Investing, Business

4.8 • 2.7K Ratings

🗓️ 28 April 2021

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

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Summary

Codie Sanchez (@Codie_Sanchez) joins Shaan (@ShaanVP) and Sam (@TheSamParr) for this brainstorm. Codie is all about businesses that cashflowing right away. She talks everything from buying distressed businesses to modular homes to buying real estate for pennies on the dollar. She doesn't shy away from controversial thoughts either: she lays out why angel investing is dumb and why public stock investing is as well. We end the episode with some great stories on "how to collect people" (basically network like a champ) and what financial freedom really means. --------- * Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/ * Support the pod by spreading the word, become a referrer here: https://refer.fm/million * Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas. --------- Show notes: * (0:38) The guys recap the Balaji podcast * (5:08) Codie explains what she does and how she got there * (15:03) Owning mailing centers & pack and ships * (21:12) Buying distressed assets for $0 * (23:54) The big ROI on tiny homes * (28:44) Codie's controversial thoughts * (37:16) Buying RE at auction * (43:01) How to collect cool people * (54:15) How Shaan and Codie view financial freedom

Transcript

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0:00.0	Most people should not be out there trying to build the next Facebook.
0:03.8	And I think it's kind of fucked up that a lot of people try to tell people
0:07.1	that's what they should do.
0:08.5	Most people want mazo's hierarchy of needs, right?
0:11.7	You want your family taking care of, you want food on the table,
0:14.4	you want to be able to do the shit you want to do on the weekends.
0:16.4	And that's it.
0:17.2	And so I like the portfolio actually better of a portfolio of small bets.
0:21.2	I think of buying businesses a lot like I think about buying stocks.
0:24.5	Yeah.
0:27.0	I feel like I could rule the world.
0:28.9	I know I could be what I want to put my all in it like a days.
0:33.8	All on the road.
0:34.9	Let's travel never looking back.
0:36.5	Sam, you showed up.
0:37.6	I thought I thought you were too hung over from last night pod.
0:41.3	That went till two in the morning.
0:43.6	It takes to show up today.
0:45.5	Dude, it went later for me.
0:46.7	I mean, I didn't go to bed till four.
0:48.2	What time did you, what time, what time was it over for you?
0:50.8	It ended, but my brain didn't turn off.
	...

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