Taking Over a Business Without Spending Money

Wealthy Way

Ryan Pineda

Business, Entrepreneurship

4.8 • 2.1K Ratings

🗓️ 15 September 2024

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

You don’t need deep pockets to own a business in 2024. Learn how to take control with creative strategies that require no upfront cash. It’s all about working smarter, not harder.---Secure your spot at the #1 conference for real estate, entrepreneurship, and social media here - https://www.wealthcon.org/Feeling lost as an entrepreneur or real estate investor? Get access to our community, coaching, courses, and events at Wealthy University https://wealthyuniversity.com/If you want to level up,...

Transcript

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0:00.0	It's interesting for me because I'm a startup guy. I love starting businesses and I find enjoyment out of building the brand and the team and it's fun.
0:10.0	But yeah, to your point, I mean just buying a business is significantly easier. It's in a lot of ways less risky.
0:16.0	Yeah, it's easier than people think right with real estate people like I don't have any money. It's like well real estate's a lot easier than you think you don't need money you know same with business buying exactly it's just it's easy and people think my main question about business buying is unlike real estate you inherit something that is
0:35.0	far more managerially complex yes and so for somebody who wants to buy a rental property, it's like, all right, it's not rocket science.
0:46.0	Like, anyone can, you could do it yourself.
0:48.0	You get a manager, I'll do it for 10%.
0:51.0	A business ain't like that.
0:52.0	It's not. So what does somebody do? But the returns are a lot higher.
0:55.9	Right. The returns are a lot higher. Like you can buy a business. You can 10X the valuation in 12 months. You can't 10X the value of real estate in that time, right?
1:06.6	No. And I'm an advocate for buying both, right? I'm an advocate for buying real estate and
1:10.4	buying businesses. In fact, I take my distributions out of my companies and then do a
1:14.5	1031 exchange and invest it in real estate. So I'm paying no tax, just building a big
1:19.7	portfolio. But the biggest advice I give to people that are looking to my businesses is buy something in your lane, right? Because it's really easy to buy a company, to be the owner of a company, whether you're an owner investor, like me or an owner, operator that wants to run it,
1:34.8	buy something that you're passionate about, you understand how the industry works, and you've got value
1:41.6	that you can bring, you know that business to that industry you know
1:45.1	how to move the needle and if you find a business and you don't have that experience go
1:49.2	partner with somebody one of my one of my mentee students he's a he's a top sales guide IBM and he was on one of my
1:58.4	One of my trainings the other weekend. He's like car. I found this freaking awesome vineyard.
2:04.0	Like, I want to buy this vineyard.
2:06.0	I'm like, hmm, okay, I thought you'd be buying like a technology company.
2:09.6	You know what to do.
2:11.5	You know what to do. You know what to do.
	...

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