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Action Academy | Millionaire Mentorship For Your Life & Business

The 3 Biggest Lies About Buying a Business (and the Truth About What Actually Happens)

Action Academy | Millionaire Mentorship For Your Life & Business

Brian Luebben

Corporate, Careers, Business, Financial Freedom, Small Business, Entrepreneurship, Biggerpockets, Investing, Millionaire, Real Estate, Passive Income, Alex Hormozi, Commercial Real Estate

5683 Ratings

🗓️ 13 October 2025

⏱️ 24 minutes

🧾️ Download transcript

Summary

Want To Quit Your Job In The Next 6-18 Months Through Buying Commercial Real Estate & Small Businesses? 👔🏝️ Schedule A Free 30 Minute Coaching Call With Our Team Here To Get "Unstuck" Check Out Our Bestselling Book : From Passive To Passionate: How To Quit Your Job - Grow Your Wealth - And Turn Your Passions Into Profits Want A Free $100k+ Side Hustle Guide? Follow Me As I Travel & Build: IG @brianluebben ActionAcademy.com

Transcript

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0:00.0

So Brian, you've helped hundreds of people buy businesses through Action Academy. And I know you've

0:06.2

seen some wild stuff. What are people getting completely wrong about business acquisition?

0:10.4

Because I feel like there's this like fantasy version of buying a business that gets sold online.

0:14.4

And then there's the reality you actually live through. And I'm just wondering for you,

0:18.3

like, what's the biggest gap between those two things? So where do people go wrong business buying? Because this is something candidly we've ran into

0:26.0

in Action Academy. Like, we've had some people buy some stinkers. And we were just, like,

0:31.6

kind of throwing our hands up wondering, like, what the heck's going on? And the reason I admit that

0:35.3

is because, you know, anybody that acts like they've got the

0:38.5

perfect answers, like, online, that's the facade. It's false. We all learn and we all grow. And so in

0:44.5

the beginning, I thought, like, just the buy alone was the answer. You know, I was like, okay,

0:49.7

if we just buy a deal correctly, then great. We're good. But there's one critical part of underwriting that we

0:57.3

missed that is tanked two deals. And there was also a whole other like framework and a formula that we

1:03.5

missed that will help a lot more people. And now we know how to integrate this and implement this

1:07.5

in our business and it's going to make us freaking unstoppable. And it's also going to help the people that need some help now. So the first thing that we didn't underwrite

1:14.6

for was what I call just like no assholes. Let me explain. So the deals were good. The deals

1:21.6

made sense. But the seller was an asshole and the seller was low integrity. And especially for a local

1:27.1

business, we had one

1:28.0

person that bought a um i think it was the property evaluations business and the seller was like trying to sue her

1:35.8

because she was like yeah i got a good deal and he was so butt hurt that she was talking about how she got a

1:40.4

good deal that he was trying to sue her and like drag her name through the mud then the same thing happened

1:43.9

with another guy but i mean the guy was just like a huge asshole and he made a huge stink of it through the town and he knew a lot of people and it just was an absolute dumpster fire. So like my general rule of thumb now is I don't care how good the business is if the seller is an asshole, like I'm not buying the business. And I'm not not one I'm not one any of our people to buy

2:00.8

the business now there's another sophisticated person that can come in and take on that challenge

...

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