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Buy a $500K/Year Income Stream? This Is How to Do It
Description
What if, today, you could “buy” a $500K/year income stream? You could replace your salary. You could become the boss immediately and reach financial freedom faster. It’s not a gimmick, it’s not a scheme, it’s something much more boring than that.
In this episode, we’re talking about how to buy a business, especially small businesses, with Acquiring Minds’ Will Smith. Will spends his days interviewing the overlooked, but highly profitable, business owners who do exactly what we’re talking about today—find a boring business, buy it, improve it, profit, and repeat. Even the small businesses Will mentions can earn their owners hundreds of thousands of dollars per year.
So, how do you get in on it? Will breaks down who should buy one of these businesses, where to find businesses for sale, how much they sell for, the returns you can expect, and the best business types to buy.
Dave is heavily considering buying a business to complement his real estate portfolio. And after this episode, you’ll probably be feeling the same.
In This Episode We Cover
DON’T build a business, buy instead: entrepreneurship through acquisition (ETA) explained
How much small businesses make (they can replace your salary!)
The best business types to buy that have consistent, safe revenue
What any beginner can do right now to find businesses for sale
Who should (and should not) buy a small business, and how much they sell for
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1281.
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