SPECIAL SUMMER REPLAY: Codie Sanchez—How to Get Rich Buying Boring Businesses

Good Money with Derrick Kinney

Derrick Kinney

Investing, Entrepreneurship, Business

5 • 1.5K Ratings

🗓️ 1 July 2024

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

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Summary

SPECIAL SUMMER REPLAY

When my guest Codie Sanchez left her job on Wall Street, people thought she was crazy. But Codie knew that true success meant building streams of income that don’t require you to trade your time for money.

So she decided to focus on a niche that few investors even think about: boring businesses. Today, Codie has built a portfolio of 25 “boring businesses,” like laundromats and car washes, that generate eight figures in passive revenue. Sure, boring businesses might not be flashy like creating the next Uber, but they are reliably profitable.

In this episode, Codie is going to show you how you can invest in boring businesses and use them to create lasting wealth. Plus, Codie reveals why you can’t save your way to generational wealth and the secret to being an incredible deal maker. (And I ask Codie a pretty candid question at the end that you might relate to.)

Check out Codie's website codiesanchez.com for great resources.

Follow her on Insta @codiesanchez.

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Transcript

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0:14.8	We know you're a business owner ready to hit your next big revenue goal, but you feel stuck and don't know what steps to take next. We understand your frustration.
0:17.2	Welcome to the Good Money Podcast, where we help business owners and entrepreneurs, just
0:21.0	like you, build their business and build their wealth so they can do more. and We give you access to the best business minds to bring you insightful interviews,
0:34.3	impactful stories, and the inspiration you need so you can build the business you want
0:39.2	and enjoy more meaning and freedom in your life.
0:42.2	I'm your host Derek Kenny.
0:45.0	When my guest Cody Sanchez left her job on Wall Street, people thought she was crazy.
0:51.4	But Cody knew that true success meant building streams of
0:55.6	income that don't require you to trade your time for money so she decided to
1:01.8	focus on a niche that few investors even think about.
1:05.4	That niche is boring businesses.
1:08.3	Today, Cody has built a portfolio of 25 boring businesses like laundromats and car washes that generate
1:16.8	eight figures in passive income. Sure, boring businesses might not sound
1:21.4	flashy like creating the next Uber but they are
1:24.3	reliably profitable. Today Cody wants to show you how you can invest in boring
1:29.9	businesses and use them to create lasting wealth.
1:33.4	Plus, Cody reveals why you can't save your way to generational wealth and the secret to being an incredible
1:41.8	dealmaker.
1:43.0	And I ask Cody a pretty candid question
1:46.0	at the end of our time together that you might relate to.
1:49.0	This was one of my favorite conversations I've had on the Good Money Podcast. I think you're going to love
1:55.2	it too. Cody, welcome to the Good Money Podcast.
	...

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