Welcome to the Bigger Pockets Money Pied Cash Show, number 325, where we interview Tim Delaney and talk about buying a small business with low money down and turning it into an amazing cash flowing asset through hard work.

With this particular business, it didn't work out, I didn't buy that business, but it kind of opened my eyes to the idea of the banks are willing to give me money, and the seller might be willing to finance a little bit of that transaction.

And I can actually buy myself a paycheck day one, as opposed to gambling and starting a business from scratch and never really knowing when I was going to make enough money to actually pay myself.

So that prospect of buying a business became much more front and center and much more interesting, and I more actively started pursuing business ideas or businesses to purchase.

Hello, hello, hello, my name is Nindy Jensen, and with me as always is my amazing cash flowing investment through hard work cohost, Scott Chetch.

And with me as always is my intoxicated with the numbers cohost, Mindy Jensen.

I like that. Scott and I are here to make financial independence less scary, less just for somebody else to introduce you to every money story, because we truly believe that financial freedom is attainable for everyone, no matter when or where you're starting.

That's right, whether you want to retire early and travel the world going to make big time investments and assets like real estate or start your own business or buy an existing business will help you reach your financial goals and get money out of the way so you can launch yourself towards those dreams.

Scott, we are talking to Tim Delaney today. He is a small business owner and an absolutely wonderful saying to us better than everybody in every single way.

Just kidding. Not really.

He volunteered for the Peace Corps and then he moved to Ethiopia to help a German company help the Ethiopian country industrialize their economy and then he pivoted to help small business learn how to grow using social media and then he wanted to start his own business.

So he started looking for businesses. He's just like this give give give kind of guy and then he found this business that he wanted to buy.

He decided he ran the numbers that's very very important he ran the numbers and he has an amazing very lucrative business that he works what did he say 10 hours a week in now now after nine short years overnight success in nine short years and is really living the life that he wants to live through one of the four.

He's got levers that we suggest pulling save invest start your own business or what's the other one create create well that's this one start your own business.

Yeah, spend less earn more investing create.

Yes, okay, there we go spend more that's what I forgot but he's earning more he is spending less and he is creating this business which is which he did not create from scratch but is growing it exponentially and crushing it.

Yeah, this is a great story and what I think you're going to really like about Tim story is how repeatable it is this is not a guy who had a huge head start financially in a lot of ways this is somebody who bought a liquor store and put everything you had into it and was able to turn that into a success and the reason for that is hard work and intelligence.

But also really good strategy this is the asset class and I mentioned this later in the show as well that I think Americans today have the best chance of becoming wealthy and there are 12 million baby boomer owned businesses right now that are expected to come up for sale in the next decade or so 12 million businesses of this type small businesses that generate 50 100,000 $200,000 in cash flow or not operating profits you can buy these businesses for one two times cash flow.

Maybe even less in some cases plus inventory right and then and then these are businesses in many cases that don't have any systems implemented that are not using technology they don't even have websites or or basic online presence like social media and there's a huge opportunity here for I think the young or ambitious entrepreneur who wants to get out of the corporate 9 to 5 to buy this business and guess what you're going to take a small pay cut at first you're going to do a lot of hours at first.

But if you are diligent and thoughtful and by the right business and put the right systems in you can expand profits make the business exponentially more valuable and create a passive stream of income that can open up other options downstream so I really am excited about the SASA class I think it's something that we want to explore more here on bigger pockets money if you have a story about buying a small business and improving it over the years we would love to hear from you please apply at bigger pockets.com slash guest and I'm so excited to introduce Tim here today.

Before we get into the show here's a word from today's show sponsors Tim Delaney welcome to the bigger pockets money podcast you have such an amazing story I am so excited to jump into this with both feet but before we get into your current money story let's hear a little bit about where you started.

Thank you so much, Mindy. I'm really excited to be here and share my story. I've been a long time listener and glad to be here.

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