553 - How to Make Money by Buying an Established, Profitable Business Using None of Your Own Money with Carl Allen

The James Altucher Show

James Altucher

Society & Culture, Talk Radio, Writer, Philosophy, Comedy, Chess, How To, Entrepreneurship, Jay, James, The James Altucher Show, Altucher, Author, Jay Yow, Education, Jay The Engineer, Business, James Altucher

4.6 • 2.7K Ratings

🗓️ 28 February 2020

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

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Summary

Carl Allen has nine side hustles. He doesn’t work in any of them. They all just create cashflow for him. He’s been doing this for 27 years. And has done hundreds of deals. Now he’s teaching people how they can do it without investing your own money or having any experience at all. Consider this an introduction to a new, richer life. And Carl has a new book on this which you can get for 20% off at carlsbook.com/james I write about all my podcasts! Check out the full post and learn what I learned at jamesaltucher.com/podcast. Thanks so much for listening! If you like this episode, please subscribe to “The James Altucher Show” and rate and review wherever you get your podcasts: Apple Podcasts Stitcher iHeart Radio Spotify Follow me on Social Media: YouTube Twitter Facebook Linkedin Instagram

Transcript

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0:00.0	This isn't your average business podcast and he's not your average host.
0:06.4	This is the James Altiger Show.
0:09.4	Today on the James Altiger Show.
0:16.0	How do I find a good business for sale?
0:18.2	Yeah, they're all over.
0:19.6	So the biggest way to find deals is to network.
0:22.7	So who do you know and build relationships?
0:24.8	I don't know anybody.
0:25.8	Of course you do.
0:26.8	So relationships with what I call deal intermediaries.
0:30.0	So deal intermediaries?
0:31.6	Yeah, so network with CPAs, tax advisors, network with wealth managers, small business attorneys,
0:38.0	even banks and financiers.
0:39.0	Because they're all in the mix.
0:41.0	They all know businesses that potentially offer sale.
0:44.0	Most people that want to sell a business will talk to those individuals before they will
0:52.0	go down the route of sale listing with a business broker.
0:54.6	Only about 20% of businesses that sell get listed through a broker.
0:59.2	Most deals get passed through like friends or friends or friends.
1:02.8	Yeah, but let's say I'm again, let's say I'm 20 years old or 33 years old.
1:06.8	I want to change.
1:08.8	I probably have an accountant doing my taxes.
	...

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