Podcast #109 -

How to Fund a Business

In this episode, we talk about money. We talk about banks, the SBA, private lenders or hard money. We talk about how the banks make money. How you can utilize the SBA to fund your business and other options to get money for your idea. One less obstacle in your way!

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Buying businesses is for rich fucking people that have all the money in the world. And I’m telling you, that’s not true. Lots of businesses that provide very nice income, uh, and have the option and ability to grow are available to a lot of people for not nearly as much money as you think. Let’s do it. Let’s do this. I was, uh, I was thinking about this today at lunch with a buddy of mine and he’s going to come on. He is a banker, uh, an SBA banker and he helped me as a small business administration. Okay. Uh, and so he helped me get alone. The F uh, let me think. We started, I think I was probably a year or a year and a half in and the small business administration of set up specifically to help, uh, businesses, uh, and where they help businesses, particularly a young fledgling businesses, is that they, through government backing, uh, they guarantee loans, percentage of loans that a bank would give so that the bank doesn’t have a hundred percent responsibility for the loan.

So in this case, I think an SBA, a the SBA, the small business administration backs the loan to the point, I think it’s like 60%, maybe it’s 50%, 50, 50. It would be, it’s, I think it’s 50% to the SBA, 40% to the bank. And then the buyer has to come in with 10%. Say if you’re buying a piece of property or you’re buying a business, uh, and then if it’s a capital loan, they’ll give you x percentage in the math is still the same, right? So, uh, it might be a 60, 40 split that the SBA is responsible for it. The bank loans, the money, the small business administration, which has the backing of the federal government then guarantees that portion of the loan so that you could make a riskier loan to a small bits like me. You know, I was in a year and a half into it, uh, and I got alone, had no idea what the small business administration was.

I had no idea how it worked. I had no idea that it was even available, but it’s essentially available specifically for that. Uh, and then it’s also available to, it’s a way to, uh, in my case, you might purchase property for 10% down as opposed to the usual 20 or 25%. Um, so again, if you are a, if you are a good risk, it’s a fairly easy loan to get. Um, well, easy is a relative term. Getting loans is difficult. Yeah. All right. Takes a lot of work. It takes a lot of paperwork. A lot of shit has to get signed off. It’s fucking nightmare. Say, did I say, did I say that nightmare sounded funny? Uh, it’s a nightmare. But it is a valid way to go to, like I said, by a business or to buy a of a building or buy a building and a business or to capitalize your business, which is to then add money into your business.

So an example of capitalizing your business. If you have an existing business and you are, um, let’s say that you used a ton of money for a very specific purpose, the, the SBA will come in, the banks will come in, they’ll look at that and they’ll say, okay, really you need an infusion of capital, uh, to kind of bring you, even in that infusion of capital is payable back to us out of the company’s cash flow. They usually look for a cashflow being generated about 1.2 is the lowest debt they’ll do. So, you know, you’re, you’re 20% above your expenses essentially. Uh, and if you’re there, then they’ll loan you up to a certain percentage for you to say, recapitalize your business, which just gives you more cash to work with and then a longer period to pay it off as opposed to a revolving line of credit, which is something that you would theoretically go into month in and month out.

Pay It off, pay it off as you as you do, right? So you might use it for short term payables, payroll, things of that nature where you have the bill comes due before the cash comes in for the service that you provided. You know, you go out and mow somebody’s lawn and then you mow the lawn and then I have to you mow the lawn on my behalf, right? For my business, I have to pay you within two weeks. Uh, but I don’t get paid because I bill every 30 days for 45 days, say bra or 30 days after I’ve paid you. And so then theoretically, until you become a mature business, you need to finance that growth. Excuse me. You need to finance that payment. And then that just continues as you grow because that right, that your cash out, sir, you are your needs for cash outstrip your available cash.

So the SBA will step in, particularly for growing businesses that are young but that, but that have a future. Uh, and they will, they will do that. And they do that without quite the same stringent requirements that a bank would have. So a bank will look at that and they’ll see that their, their risk is cut in half. And so if you are a reasonable, uh, risk, they’ll take that on. Not necessarily super risky but a reasonable risk, which is, you know, if you’re a young growing company that’s, that’s, uh, typically what you might be a and you can access money that the bank would not otherwise lend to you remember. And, and the point of this whole conversation is how to get started and what’s available to you in banking. And, and, and, and, and, and from a customer, from a, uh, from a business perspective, uh, somebody might want to get started out there.

Here’s some tips to get started and things to look for. So the SBA is a big part of that because you have to remember, banks will never land to bank. The banking industry, in my estimation, is one of the next to the u s government. One of the worst ran institutions, uh, that, that we have. Meaning they have massive amounts of power. The banks and the u s government are essentially in bed together. You have heard too big to fail. You remember from the crisis in 2008 when all of these banks failed, the US government stepped in and provided them liquidity in terms of billions of dollars of cash. Uh, every one of those banks that took that money is bigger today than they were then significantly. So you look at a bank like JP Morgan Chase, they’re trading it. Uh, their stock was trading, I believe before the crash at 75 bucks or so, $70, somewhere in there, if I’m not mistaken, the crash hits, I believe that stock went down to 25 or 28 bucks, and now they trade at a hundred $1,520.

So yeah, they’re, they’re, they’re all bigger than they would than they were. They took the government’s money in order to capitalize their businesses. They sucked up member. Remember what I told you about this wasn’t necessarily going to be a bank tirade, but it’s going to do it. Let’s do it. Uh, remember when I told you how big business loves regulation and why? Do you remember why that is? Why the big misses as love regulation, they have more resources to be able to take care of the problem is exactly right. They get to crowd out their competition. And you’ve seen that in banking since the recession. So the recession happens in 2008. The banks, uh, are in peril because everyone goes to the banks and says, I want all my money out. So all this liquidity, which is what the banks exist on got pulled out.

All these banks made a shit ton of bad loans to people that they should not have been loaning money to a, in the form of mortgages. All of that shit went upside down and the banks are stuck holding the bag. And so when you talk about say mortgages, banks have to have a certain ratio, uh, uh, and once that ratio is exceeded relative to equity versus liability, then they have to make up the difference, right? Or cut back on the loans. We’ll fuck, that was equity ratios were shot to hell because everyone stopped paying on their mortgages, right? Because they made all of these risky mortgages. So the banks go to the government and they’re like government. We were short on cash and the government gave them billions and billions of dollars to the five or seven biggest banks, which is a load of bullshit because if my company did the same thing, the banks are like, you can suck it, and I got nowhere to go.

So it’s, it’s, it’s, it’s left a very bad taste in my mouth, but it shows you that out of that recession then, and all those bankers went up to Capitol Hill and testified about the things that were wrong with the process. And then more laws were passed and more hoops were created that you have to jump through and more cash was needed and more capitalization of the bank. The capitalization ratios were all increased so that you needed more cash on hand. So who did that benefit? The banks, the big banks and the small banks go out of business. And what are the big banks? Do they go buy up those at a business? Small banks or they go move into the neighborhoods or their percentage of the pie increases because the little banks went away and the little banks went away. Oh, by the hundreds if not thousands.

Right? Him In, in his everyday banks were closing. So those government regulations, uh, serve to only help the big banks get bigger. Uh, as is often the case, small business gets crowded out and ceases to exist. Uh, the banks laugh all the way to the bank, if you will. Uh, and in this case then the additional, uh, value that we, the taxpayer and the US government brought to the banks is that we loaned them money through the window. This is the money that they essentially use aside from, uh, from deposits to finance and loan out. Okay. So they loan it to you at 5% for years and years and years. They were borrowing that money at zero. Damn. Okay. So what did they do with the money and it was zero for a reason. It was a zero to go out into the economy and stimulate it.

Right. How do you stimulate the economy given to moving? That’s right. Yeah. You give it to me. That’s what, how you stimulate the economy. You give it to me. And then I go out and I build new businesses and I increased the size of existing businesses and I go out and buy other businesses. Right? That’s how you, that’s the intent. You, you give it to the new entrepreneur that has an idea and you let him go try that idea. You give it to the new entrepreneur that’s struggling for cash, but has an existing business and you help prop him up and let him do what an entrepreneur we’ll do. So that’s what the money was meant for. It was meant to prop up the economy by putting that money out into the system. So the banks generally here took that 0% money and when invested it in treasuries, because the treasuries were paying two and a half, 3% okay.

And they have, that’s typically the, the, you know, if the bank was borrowing at historical rates, they would have borrowed at two or 3% and they lower then they lend it at five or six or if things are real bad, seven or eight, it hasn’t been seven or eight in a long time. It’s probably five and a half, 6% now because those rate, the expense through the window has gone up. But for years, and I mean multiples of years, we loaned in that money at zero and so they fucked all of us off and said we’re not going to risk it out here, who are going to keep it for ourselves by the billions and billions and hundreds of billions of dollars and we’re going to invest it back into the government and the government’s going to pay us two and a half or 3% for that money if all of that. So we, the people give the banks the money for zero and the bank then takes the money and invest it back into the government at two and a half or 3% fucking all of us.

In the meantime and an extra two and a half, 3% for free. Yes. Fucking us twice. Cause we loaned them the money and then we paid interest or we loaned them the money and then we paid interest on the money we loaned them to them. Okay. So that’s the banks. That’s how they operate. And so that’s why that recession in my estimation drug on the way that it drug on, that’s why it took so long to come out of it. Uh, at the time, the Obama administration did nothing about it. And slowly over time as uh, the, the, the rate for that money started to creep up as the economy started to improve, then that margin is no longer there. And slowly but surely the banks then have to start lending it back out to us, to us, which is a riskier loan for them.

Then the guaranteed return on t bills. And so that’s why we see, I think the rebound that we’ve seen over the last few years because money becomes more available. You’ll also see it manifest itself in banks getting into the mortgage business. I went and did the deposit today, uh, for here over at the bank and all over the bank has plastered, get your mortgage here forever. Banks didn’t do mortgages for the last seven or eight years. They didn’t do mortgages. Mortgages were all done by Fannie and Freddie Mae or Freddie Mae, Fannie Mae, Freddie Mac, which are these government backed and you’re probably learning about how this works with your, uh, with your trying to do your mortgage, which are government backed. Essentially it’s the government loaning you the money, right? Because private business, uh, in terms of the banks discontinued any kind of mortgage banking after they got crushed in 2008 because they made a bunch of loans that they shouldn’t have made.

There’s an argument about the government forced them to make their loans and I think some of that’s legitimate, but regardless that they pulled out of it and the government had to step in. Well now those bankers as magnanimous as they are, are starting to come back into mortgage because that offers yield that they don’t get now since they don’t get their money for free and they can just return it around in short term or long term treasuries. Most of them do it in short term and make two and a half or 3% or events, one or 2%. Right. It costs nothing to do it. Yeah. So 2% on billions is a gigantic number. They’re just now coming back into mortgage because they have to go out and search for yield when it’s not provided to them by we the taxpayer. Uh, so it’s, it’s a little bit easier to get loans, but it’s still fucking difficult as hell.

There’s no risk in banking. The government has so regulated that that the banker, if they wanted to, we couldn’t take the risk. So if you think that you’re going to come up with an idea and then you’re going to go out to banks and get a loan for it and your business doesn’t exist, you’re fucked. It’s not going to happen. You’ll never make it happen unless you have some giant piece of collateral that you can put up. Say you owned a house outright for 300 grand, the bank will give you 150. Yeah. Right. So it’s bullshit. But banking’s very difficult to do. They created the small banking administration, the SBA, and it will fill in that gap. And then the SBA has been around for, I don’t know, 40 years or so. This ministration. What’s that? He called it a small bank in administration, small business, small business administration, the SBA.

And then the SBA comes in, as I said at the beginning of this, and they will lend you money, uh, and you can be a higher risk in the bank’s willing to get into bed with something that’s a little bit higher risk because they’re guaranteed to be paid. And not only are they guaranteed to be paid, they’re first in line. So the, the, the SBA guarantees the, the larger majority of the loan, the bank that loans you, the minority amount of money is guaranteed to get paid first. And then the bank is paid by the government. So you borrow a hundred grand for your business, the bank you have to put up, uh, let’s say you buy a business, let’s say you buy a business, you gotta I said that twice. I was going to say, let’s say you buy a business with a piece of property, but let’s say you buy a business, it’s a hundred grand.

You have to come in with 10,000 bucks. Okay? The SBA, and I’ll just use round numbers here that it’s accurate because it’s on the total. So the SBA will come in 50,000 and the, and that’s a $50,000 guarantee and the bank will come in with $40,000 of their cash. Now they come in with all of their own cash. They come in with the 90,000 but the government guarantees 50 of it and the bank then has has risk at 40% even though the deal is bankable. Okay? 12 and how that works. But the bank gets paid in the event of default by the government and then it’s up to the SBA to come in and collect the $90,000 that’s been the faulted on. So essentially it’s 100% guarantee for the bank. Yeah. And yet getting one of those loans is like Poland fucking teeth out of a grizzly bear.

Why doesn’t the government offer this straight up to a bank? Why do they have this all business ministration just that the bank doesn’t have more things to learn are Pedesta test men of the business and all that kind of stuff. Uh, yeah, somebody has to, I mean, essentially the, the, yes. I believe at the beginning it was here, we’re going to make this available, but the banks will do all of the work and you want the banks, you know, somebody’s got to do all of the work. And so the bank not only will approve the loan, but then the bank services, the loan, that’s who your payment goes to. That’s who collects the financials. That’s, you know, who keeps tabs on you. So on you, I mean, you get that. But what happens is certainly the SBA doesn’t service the loan in. The bank does its job there, but the SBA does as much work on the loan as the bank does now.

So it’s a redundant process because you have to get approved by the bank and then you have to get approved by the SBA and it’s essentially looking at the same paperwork and come into the same conclusion. So, uh, it is streamlined somewhat in that the SBA, they have local managers and largely they’ll default to what the bank thinks has, they have a relationship with the bank and in Waco, wells Fargo I think is like the larger bank of America, Wells Fargo, one of them, the largest SBA lender in the, in the, in the country. And so again, they’re going to say this is alone, that will back. And typically the SBA I’ll go for, but you still have to get them to sign off on it. So it’s a major pain in the ass is my point. But it is an available resource to anybody that wants to expand their business, grow their business, buy a business so you could come out, uh, a deal came across my desk today for, I had a lunch, so I wasn’t desk.

It was across the table, uh, to buy a chain of pizza, uh, uh, restaurants that are, um, oh man, it’s the word. You somebody that God dammit, I hate when I can’t remember the franchise. Okay. I hate when I is not what I was going to say. Like I know exactly what the word is, but I can’t think of what the word that I’m not, that I need. I do that all the time, which is not conducive to podcasting. Yeah. Obviously. But, uh, so, uh, and franchising and there’s about 15 of them and they’re there are available, I forget why I was telling this story now. That deal came across today. Yeah. Uh, oh. So we’re talking about SBA lending. So this let’s, let’s pretend like I don’t have business experience. I don’t know all of the things that I own. I don’t have other assets or collateral.

I could based on this business that I would be looking to purchase as long as the business was throwing off the amount of cash needed to cover the payment at a margin, say 1.2% or 1.2 which is essentially 20% over the expenses, the monthly expenses of the operation, and what the company. So, so, uh, if uh, 100% is, let’s say your bills are $100 a month, okay. And you want a loan of a $5 a month, okay? The bank will loan you up to 1.2% so they’ll loan you an additional 20% or $20 uh, in this case, right? So as long as you have the ability to cash flow at a 1.2 margin, I mean, great cashflow on, uh, your on a $5 payment would be on a yearly basis would be 60 bucks, right? Well, if your business is throwing off $120 a year, it can easily cover at a two time, multiple a $60 payment catching.

You follow that? Yeah. They’ll go up to 1.2% or 1.2 so the, the, the 20 multiple multiple correct. Would be can you afford $60 payment? There’s your company generate enough money to cover that $60 payment. And obviously I’ll just on the money it would, yeah. So gotcha. That’s how that works. So in this case, you look at a business to purchase and the bird, the business is going to have cashflow in the form of Ebitda. Ebitda is earnings before taxes, interest and depreciation. These are all ad back numbers. Company throws off $100 a month. You take interest payments, a depreciation, uh, uh, earnings before taxes and taxes. You add it back in and that goes into your number. So maybe your 1.2 now becomes 1.3, 1.4 and you qualify easily because there’s more than enough cash to make the payment right on, on the loan that they’re going to give you still operate as, believe it or not.

Yeah. So you can go in and do that today. I could look at that as a business opportunity. I can say this company wanted to think it was two point $3 million that it was selling for. Uh, it has $600,000 in Ebitda, if I remember. That’s the amount of free cash that it generates on a yearly basis to a new owner not taking anything out. Uh, and so in my case, since I have other resources, 600,000 more than covers the loan amount that would go against, well, I’d have to bring in 10% that would go against say $2 million payment over 25 years. I think they go 25 years. It might be, it might be 15 or 20 on a, on a purchase. I’ve never used the SBA to purchase a business. John would know that. Uh, it is more than enough though to cover, obviously by a fair, by a significant amount.

Let’s say the payments were 200 grand, right? I have three times now. Yep. Right. I have a three time multiple of cash flow, more than covers that, that purchase price in a way you go. Right. So you could qualify for that. Buying an existing business with little to no experience because the SBA, then we’ll back your lack of experience or higher risk to help you purchase the business. Nice. So again, John’s got, uh, my buddy, uh, has much more information about that and can talk to that about that much more specifically. Um, but that is kind of the, the, the, the, the tool that I use and the resource that I was able to access 19 years ago, 18 and a half years ago, uh, as my business was growing and help to add cash. I think I borrowed $310,000, if I remember correctly. Uh, and I was a year and a half old and the 310,000 then was used to pay off bills, uh, payables in this case.

So that essentially I didn’t have a payable bill for a whole month or two months. I don’t remember how long it was. You follow? So if I don’t have to make payments, where’s the money in the bank account? Right. So that provided me liquidity then to continue to grow. So that’s a, that’s there’s, there’s multiple ways to do that. If you add in, in property as an example, uh, I’m looking to purchase a new piece of property and when I do that, then I got to bring 10% down. I go SBA, it might cost me just a little bit more, but it’s easier. It’s, uh, it’ll cost me a little bit more in costs for the loan because you have to pay the SBA on top of the bank. So you have additional, it might be an additional 35 or $40,000, say on a multimillion dollar, I’m looking at a $3 million building, so it’s going to be a, you know, however much it is, might be 35, 40 grand.

That’s Kinda just like a little cut of asking you erect as that’s essentially what, that’s exactly right. So they get paid that for administration and then, I don’t know, uh, uh, he would know and we’ll bring them in and talk to him, uh, where the SBA, the SBA invests that money or spends it. I don’t know what to do with it. Yeah. I don’t know how that works. So that’s, that’s, so I would look at that. I had on a $3 million deal, I’d bring 300 grand and be able to buy a building as opposed to bringing 600 grand, which is what a bank would require 20% down. So it allows me to go and buy a piece of property with a lot less cash. I choose to pay the additional amount, both they’ll charge you just a little bit more on an interest rate and they’ll charge you again a little bit more for uh, for bank fees if you will, or loan fees.

But for me, I’ve always liked the idea of keeping my own cash using somebody else’s, even at an even at, at, at, at an interest rate. That’s just been my, Whoa, what the hell was that was the notification? They won’t hear it. Okay. All of a sudden that windows noise happening does that, so you see what I’m saying? Does that make sense? Definitely. And to the point of doing this on through the bank. Then even though it’s more complicated and you have to pay this extra money and whatnot, is to try to keep that lower interest rate than going hard money. They’re going from an actual investor that might give you this money up front. Yeah, all’s to put it on a longer term payment, you put it on a longer term payment and and tip. So you have multiple ways to finance a business.

The written, the, the, the rarest way that you’re going to finance a business is to find an outside investor to give you money, but then they take, excuse me. Then they take equity. Equity is essentially they take a percentage of the business that they now own and that can be very expensive, particularly if you’re a growing business or you have a future in front of you. Let’s say I had done the same thing and I gave up 30% of my business for that same 300 grand because at the time the business was only doing, you know, $1 million, let’s say, um, what would that 30% be worth? Way more than three over the course of 20 years and hundreds of millions of dollars. Right? So you want to avoid that at all costs. From my perspective, unless you’re going that startup route that I talk about all the time, which is a very, very difficult way to get money.

Uh, it happens, it happens thousands of times, but it’s very rare relative to the number of businesses that get started. And by that you mean like the Angel Investor Angel out? Yeah, those kinds of of, you know, Silicon Valley type investors. Yeah. So generally businesses go more along the lines that I was talking about where either you have money on your own and you decide to go get into business or buy a business or you borrow the money, you still need some amount of money on your own because you have to have some skin in the game. Uh, but you can borrow that money to, to, uh, uh, to finance the business or you just come up with the money on your own. And that’s another way doing it. The recently I saw an article that we’re saying, hold that thought, my way of doing that in that context of those three examples I get is to borrow as much as I can, put down as little as I can so that I can keep as much as of my own money as I can to use to further growth.

But I’m a, we’ve talked about this. How does that make you feel? I’m all about the risk. I’m fine with that. I sleep just fine with that. You try to make good investments, but if I can buy one, $3 million, if I have 600 K in cash and I can buy one $3 million building for 300 grand, but it costs me just a little bit more, but then I can go buy another $3 million building. Right. You follow me? Yeah. So I buy $6 million in assets. It might cost me a quarter point more to do it. The asset is appreciating a three to 5% plus whatever I’m making on it, on a, on a cashflow basis. I, he rants or whatever rent I’m paying out of my own company. If I moved my old company into it, you can see that their return will far outstrip the expense, the, the, the risk on average.

Yeah. And that’s what it really comes down to is as long as your return is making the percentage of your APR worth it or whatever, the cost, the extra cost is worth it and not, which historically it always has. Yeah. And so the choice is some people like to have less debt. I get that. Um, I don’t, that’s not my program. So some people live on my program and some people make lots of money on the other program. It’s just this has been my program. Yeah, I get ya. And again, we’re talking about good debt here. We’re not talking about pulling relative to something. Let’s just taking money. So it’s not like you’re going out and buying a car. You’re getting something that’s actually returning extra money. That’s correct. Yeah. That’s making you money. Yes. Yeah. Um, that was going to say, I recently saw an article that said that mortgage rates were on like a 16 month historical low.

What would cause mortgage rates dropped down that low? Oh, there is a, there are a multitude of reasons. Gotcha. But the simplest one to talk about would be, again, as competition creeps into the market, certainly competition between banks. The at the bank I was at today, it’s a large national bank. The advertising they had everywhere all over the place was lowest low lowest interest rate in Portland. Gotcha. Is what they’re saying. So right then, right. If they got to be a quarter point less than the people up the street, certainly there’s going to be value there. But mortgage rates get very complex what he is selling them for. Uh, because large institutional buyers are picking up those, they’re sold in traunches, so they’re sold in great big groups, uh, and they’re sold and great big groups to help. Uh, the groups are rated a, B, c, d, e, f I think they are f uh, there were back in the day, I believe in 2008.

It’s part of what got everybody in trouble because they were, you know, they were, uh, thinking that they could mitigate the risk of a shitty lender or a Shitty, a shitty borrower by combining it with a really good bio borrower, but kind of level that abstract. And so then they wrote it. They, they, they, they, what they paid out what they, they borrowed the money at, if you will, to make the mortgage payment from institutional investors was rated ABC. And then, uh, an a paid less than a, B and a B paid less than a C in yield to the investor. So, yeah, and I’m simplifying this whole thing. I mean, there’s a myriad of reasons and I don’t pretend to be an expert, but I know just enough to probably making it a little bit of sense, communicate it off. But that’s kind of how it works.

And then of course, what happened? All the shitty ones went to, she had yeah, right. Because they were way too shitty. Lost Half your money and you, and it took down everything with it. The whole thing turned into a nightmare. So, but that’s just another factor is what’s the investor willing to pay for a or B paper. Um, and the, as the paper becomes better, the value of it goes down relative to an investor, but the investor looks at it and sometimes you’re just trying to keep their money even say against inflation. Right? So they’re looking for two and a half points, two and a half points plus what a bank has to put on top of it to facilitate the loan. And all of a sudden you’re getting a loan at three and a half or 4% or the band or the feds are backing you up at two and a half percent.

You throw your point, point and a half that’s know they’ll have prime will be set at a certain number and then the bank will add a number onto prime, say 1% and that’s the money then that that bank makes, um, relative to what they had to borrow the money at to pay you or whatever the cost of their funds is via deposits to pay you. Um, that’s one or two of a millionaire. Yeah. Manny, Manny and I don’t pretend to be an expert on it, but again, just enough to be dangerous. But I saw it recently too. It was looking at global global economics is let, a lot of the other currencies are diving down to, a lot of people are trying to merge their money into the u s market that deep against inflation and whatnot across other markets around the world. Yeah, certainly there’s always a arbitrage that goes on relative to cash, which is that relative to the dollar.

Uh, so there are lots of people not as a very dangerous game to play, but it can be very lucrative, uh, that you will say bet x that these Zimbabwe, I don’t know what the Zimbabwe, that’s a terrible, because there’s inflation has been like, I think the Zimbabwe for a while had like a $50 million bill or a $5 million bill and it was worth like, I don’t know what this is, so don’t quote me. But it was worth like 20 US dollars. So their inflation was going so nuts for so long. I haven’t read about it in a while, so I’m not sure where it is now. I’m gonna assume it’s still way in the fucking door. The Venezuela is probably something that’s more current. Yeah, right. That has, you know, like 5,000 or 50000% inflation on a year over year basis. And so the value of their cash and goes down against the dollar.

So, you know, a dollar will buy 200,000, whatever the vendor’s Venezuela money is that it? It is. Uh, so, but some people will trade against that. Right. And that’s it. And we’ll do this, this arbitrage if you will, where they buy cash. They buy dollars and traded against, uh, uh, that, that, that this market is going to increase here. Let’s say the ruble in Russia. That’s the only one I can, or the pound in Europe, right? Uh, we’ll go up or down and then they make the spread. Yeah. Chain. But if it goes up and you’re a bet, betting it to go down and I mean, these guys make money on with, with electronic trading. I, it’s it, you know, oh, fractions yet eight basis points, uh, you know, maybe 10 basis points, maybe two days. I mean, it’s little tiny insignificant amounts of money, but it’s done a billion times over and it’s all traded with the, with computers.

But a lot of people are doing that. Yeah. Kind of a boundary foundry. Dangerous electronic trading. It’s crazy. I saw a documentary on that a couple years ago that blew my mind. Yeah. Where those fuckers are like, uh, they installed super fast. This has probably been eight or 10 years ago, so I don’t know that this hasn’t become obsolete, but one of the biggest trading platforms that was utilized by say the stock, the, the u s stock exchange was one that because the, and now I’m getting into the technical side, which I don’t know no nearly as well, but essentially the, the, the hub for the fiber optic was moved closer to the building in which the transactions were, were, were taking place where administrated and because this had moved quicker and it had a faster way of doing it, that eight one, a millionth of a second that they picked up over everybody else resulted in them being the goto platform on which to trade these stocks.

So even from technology speed Mantas, as much as whatever the tech brought to it, right. Whenever the software provided the speed at which you could trade, it was paramount. And I’m talking, I, I, maybe it wasn’t in the millions, but it was like, you know, eight, 10000th of a second. I mean, it was, it was insignificant relative to you and I’s Warhold oh yeah. But in a computer world, it’s a fucking low and money is all being traded electronically and beyond. The normal person had. I can pick that up this second at this price and then sell it half second later for this price. And even if I make a fraction of a penny at the gain that you do that billions of times throughout the day, a lot of money, he’s making good money and it’s like 10000th of a second. Right? I mean, but in a computer world, that might as well be three or four seconds to us, you know?

I don’t know. Yeah. It’s just forever. Um, and it’s done very tiny little amounts in its stock has traded or cash or whatever your choices there, whatever that thing is. Um, it’s, those are largely traded that way by these big fucking complex institutional, uh, traders. Yeah. So that stuff, that’s all. Be Honest. How the fuck did we get on that? I know in talking about money, oh yeah. So banks to moving economic. My point in telling me, I saying all of this is to say that, uh, there is, you know, I’m trying to book, provide some value to anybody listening that’s thinking about starting their business and there are businesses to be had that provide a nice living. And you, I should’ve started off by saying this. This is one way to go buy a business that I think the perception is certainly it was when, where I came from that you can’t do any of this buying businesses is for rich fucking people that have all the money in the world.

And I’m telling you that’s not true. Lots of businesses that provide very nice income and have the option and ability to grow are available to a lot of people for not nearly as much money as you think. And if you think about it in, you know, you could buy a business for $200,000, uh, that might be trading for a fulltime for time multiple, which is that it throws off $50,000 and you can then have the opportunity to grow that business and, but you need to borrow the 200 grand. You need to bring in $20,000 $20,000 a lot of money, but thousand dollars can be saved much easier than $200,000 to buy a $2 million company. $20,000 can’t even buy you a brand new car are. Yeah. Right. It’s like, it’s a good point to be able to throw that into an investment that it’s going to return anything that you control.

Right? So be it a pizza shop or a mechanic shop or a doughnut shop or, I mean, you know, the sky is the limit, uh, on terms of what’s available to you out there. I’m just, my point is, and then what I want to make is it’s not as much money as you think. And then can you cobble together 20 grand to buy a $200,000 business, uh, that’s throwing off $50,000 a year. Um, and then you have the opportunity then to make more or make less. So can you get 10 grand together and then grandma, or like you’re doing, you know, where your parents, how they need 10 grand, that that’s available to a lot of people and into a lot of people that it’s not, but you put your head down, you could fuck a cobble together some cash. Oh yeah. Anybody can do it.

Particularly if you’re going to get the independence that comes with owning your own business now without risk. But it certainly is the life I would want for myself. And if I knew about it when I was 20 years old, I probably would have jumped all over that much sooner because I love the risk. I love the juice. I love Ray and responsible for myself and I want everybody else to experience there. There is a certain amount of both independence and security and self awareness, uh, and and uh, uh, self assuredness that comes with controlling your own destiny and outside of having somebody else pay the bills and you can get that without having to have these giant businesses. Again, I’ll say the average business I believe in the United States is like 600 k a year. It may not even maybe 400 [inaudible] it’s not what you think it is.

It’s, it’s relatively small and, and yet you can make a very good living. So imagine, I don’t know, I’d rather I’d rather make 50 grand a year controlling my own destiny then make 50 grand a year that somebody pays me. You Go, well Jerry, sitting in an office job working for someone else, you’re going to a, and at an office job might be eight hours a day and you don’t have to worry about nothing. After that eight hour, you go home and you get all the time yourself and would do whatever. A lot of people, which works for a lot of people, but for those that it doesn’t work for what you don’t have at eight hours a day. Well, let’s say the downside, the downside is owning your own business might be 12 hours a day. Yup. Okay. For the same money. You’re like, whoa.

And and, and a ton more risk. Well, who in the fuck would do that? Every $10,000 in revenue you add, maybe you’re making a thousand or $2,000 and pretty soon your $200,000 businesses, the three or $400,000 business and at a $400,000 business that are making 50 at that same 12 hours, you’re making (708) 010-0120 five right? The Sky is the limit on how much money you can make based on the effort that you put into it relative to you’re going to be stuck at 50,000 bucks sitting behind a desk. Yeah. So that’s, that’s okay. I’m not, I, and you’re right to point out that that’s good for some people. I don’t mean to poo poo it. I don’t mean to, I’m not being negative about it. It’s just so not me that that I, I’m talking about it and encouraging others to do, to go down the path that I have relative to the, the, the path that others take.

And if you have even an inkling of that in you, that entrepreneurial spirit at all or you’re thinking about, you want to do it, you have to just go do it. And there are options and opportunity for you to go do exactly that. And if you have any kind of resources at all, if you have any kind of assets, equity in a house, a car, you can sell, a grandmother left you $20,000, um, or you have none where you got to cobble together some money. My point is there are always opportunities available to you and you go find the opportunity and then come up with the cash. That’s the way that, that, that I think everybody should do it. I’ll give you another example of how you finance a business. If you want to do it, is you get owner financing. You Go, well Jared, I don’t have, you know, I can’t get together $20,000, but I got this sweet deal in front of me.

Go talk to that owner. Well, he financed the $20,000 the guy trying to sell the business. Correct. Yeah. A lot of times they will. The answer to the question not asked is now every time. But sometimes the answer is yes. Uh, and you don’t know until you ask. And maybe that owners had that business for sale for awhile and maybe you got to pay a little bit more because he’s going to float you the difference. Okay. That’s all cool. I know a lot of deals that happen with owner financing that is that the owner finances the business, he’s still technically owns it, but it’s in your name as long as you make your payments. So the collateral is the business, uh, and they’re doing it so that they can go move on to something else or, or whatever it is. Whatever they want to do with that money and they get their payment every month.

Yeah, yeah, absolutely. So that happens all of the time too. And some of those deals, or if you grow your business, if you buy the business and you grow it, then, uh, that, that owner then might participate in the growth that you generate over the time that you’re paying him back for the money he lent you. Yeah. Right. So, so there can be all kinds of ways to, to, to finance a purchase of a business that I think most people just don’t understand. They don’t get it. They think you need 200 grand to buy a business that costs $200,000. And that’s just not true. It’s in fact, it couldn’t be any further from the truth. In fact, you can get very creative and by businesses with no money down, I mean, it can absolutely happen that it doesn’t cost you any money. You just need to people that are willing to work together and you never, it might be that, that, that in my case, say I had a gas station at gas stations, right.

But let’s say I had one station and I remember offering to, to, uh, one of my family members to come out and manage the gas stations and ultimately to what the intention that ultimately he would buy them. Yeah. Okay. Well, I would completely assume, uh, that I would finance that purchase for him after he extinguished every opportunity to borrow the money to buy them or however much he could get for it may not be as much as what the value of them hour and I want more. And so then I would finance that on the backside. The difference. You follow me? Yeah. So there are a ton of ways to buy a business and that’s my point in saying all this is I just want everybody to know that there are opportunity if you want to do it. And sometimes those opportunities require you to jump.

Um, I know, I know people who got into business for themselves because they got fired and that was [inaudible] tell you today. That was the impetus I had then to finally make the move that I was reluctant to do myself. So somebody had to push me into the deep end. I, he, I got fired for whatever reason, cutback, whatever it is, lay off. Um, and so if you take that as reality, which it is, and it happens to a lot of people. I, you know, I had a dispatcher that worked for me years ago and she just wasn’t right for the job. She had trouble dealing with the stress that comes with dispatching in this environment. And so I had to fire her and she was traumatized by the firing. This has been 15 years ago. And she came back about, I saw her five or maybe eight years ago, and she had moved from Portland here on the west coast somewhere.

I think she lived in Chicago now if I remember, or somewhere in Indiana. Uh, and she thanked me. She came back to thank me and to say the best thing that ever happened to her was her getting fired because she was living this comfortable life. And she had, you know, the life that she had crafted for herself based on what I pay her. And now she was making exponentially more leading up at dispatch for a large national firm. That was a hell of a lot easier than sitting and doing the dispatch that I do, that we have. But she never would have even reached for that or thought about moving to the Midwest or any of those things if she had not got fired. So she was thanking me for get fired. That’s probably the most, um, that’s the most, oh, what’s the word? God Damn.

And I’m lost for word again, that, that’s the most obvious example I have of that. But I’ve probably heard that five times in my 20 years in business from people who came back and said, yeah, firing me was the best thing that ever happened because they took that down. Yeah. It just, we weren’t right for it. It wasn’t the right thing for me. I knew that you probably fired me cause my s my heart was an intuit and I wasn’t performing like I needed to. But that kick in the ass you gave me then propelled me to something else. So if you understand that and you’re thinking about starting your own business and quitting your job, just to understand that work and being, having a job, you could be fired at any minute anyway and then what would you do? I’d rather do that on my schedule than somebody else’s and some people just don’t think that way.

I mean, even with my house situation here at, I talked to lots of different friends and different people that I know about it where you know, I am kind to get this money together to buy a duplex. So I live in half of it, manage the other half of it because then it helps me pay my mortgage payment. I get a little bit of cash flow from it. Everything else. Right, right. So you’re talking to him the money on appreciation. Yeah. And you’re, you’re putting down a little bit of money. You make money on appreciation, you make money. The cashflow. If you get the right deal and you set it up right way and you’re good enough for rents and whatever else, like that sounds like a great deal to me. Why wouldn’t I do that? I’m sure I’m living in a duplex, but it’s not, I wouldn’t be living in a duplex anyways.

And I tell this to some of my friends and they’re like, why would you ever want to do that? Why not just go buy your own house and then you can work basic job and pay your house payment and you’re set. You have your own house. I would you want to do that when you could be making money with the house. And it’s just kind of two different ways of thinking about it. Yeah. You know, and some people have that, that way of thinking about, and there’s nothing wrong with it. It’s just I desire for more. And the, I agree that there’s nothing wrong with it, but I think that there is something wrong with it. Until you have the information that you need to then decide what’s best for you. Oh, right. If you’re ignorant to how that process works and what the value of trying something like that is and the relative, the relatively low risk that comes with that particular opportunity.

Meaning it’s low risk because it takes years to make money. Yeah. But ultimately you have to live anyway. Yeah. You have to have a roof over your head anyway. And so if you can buy that deal correctly, you’re not going to make a lot of money at it. But longterm, that thing’s going to appreciate. And 10 years from now, you’re gonna have it. Maybe you’ve refinanced it to buy another one, you may have two or three or four of them, and all of a sudden you have something that’s worth seven figures because you were smart enough to do that 10 or 15 or 20 years ago. So understanding why you do it and the value that comes with it, then making the decision, oh, you know, I might want to do that, but I think the or not why or not the answer to, that’s not for me because that’s just not who I am can be made out of ignorance.

It has to be made informed. And I think that a lot of people, man, you know, certainly not the majority, but let’s say two out of 10 would would, I would think hesitate for a minute and go, oh shit that how that works. You know, I never thought about that that way. You know, cause they don’t have access to somebody like me to explain that or they haven’t gone, I mean fuck anybody can explain that. That’s, you know, they’d ever watched uh, chasing cabin or whatever the fuck that one is. A bigger pockets or bigger pockets or anyone meet Kevin, is that, yeah, well the one that be our Grand Stephan, he does a lot of those. He does a lot of those. Yeah. So I mean, you know, go find any of those, you don’t have to listen to me go find any of those on youtube.

They probably describe it way better than I do anyway. Uh, but you know, you have access to those sorts of people where you hear that kind of information. I don’t know. To me it seems I can, maybe my two out of 10 is too low. Maybe it’s five out of 10 because it seems awfully obvious to me that the real value comes from doing that. Oh Shit. You mean I can buy a place with an open basement and make $500 against my $1,200 payment so that money goes in my pocket, plus I got 3% appreciation in a house I have to fucking live in anyway. And uh, and then you have interest deductions and things like that, that a, that value it even more. I mean there’s, there’s, there’s a lot of benefits, a lot of reasons, but you have to understand it and then we, because we tend to recoil from what we don’t understand.

Yeah, no. So I think that’s probably more the case then. It’s just not for them, uh, until, until they understand that. I completely agree. I think they have to understand it to make their own decisions. Because even, you know, I take a $5,000 loan at 30% APR to buy my motorcycle when I first bought it, is nobody else that would give me a loan right now. I just wanted this boaters. They go. Right. And so I took the loan and I had the loan for a few years before I decided even refinance it. Right. You know, I probably could have refinanced it at six months and got it dropped in half. That $5,000 bike costs you how much close to 10 probably if not born by the time you were done, you know? And then I went, got it. Refinance for 3% from 30% went to a credit union or something doing yet.

And I found out that I was paying 200 plus dollars a month in interest, not go into principal or whatnot. Yep. Yes. Because that didn’t refine it. And like if I would’ve known at six months that I can refinance and stop paying $200 towards interest and have that money go towards the principle, I would have done it in a heartbeat. That’s it. And I say yet, because I know now, after all these years, but I agree with you. I mean, you know, I was the one didn’t know what a mortgage was. I didn’t know what interest rates were. Yeah. That’s how stupid I was. And so I would do the same thing I did. I bought one, I bought a, I bought a a fucking, you go, you remember what a Yugo was? Giant piece. It’s easily the world’s biggest piece of shit car ever created.

It was created. Okay. So I owned the piece of Shit, all that. Why Ugo Yugoslavia. He was made, you know, it was a communist car. They made one of them and it was such a pos that it just cannot be described. What a piece of shit this was. Now you can go, but Jerry, I thought you owned the other or you already own the world’s biggest piece of shit. The world’s biggest piece of shit car. I’ve had both of them. Meaning that I had a newer worst made world’s biggest piece of shit in the history of car making. You Go. Okay. And then I had a not unreasonable car that was so beat to shit that hit was the worst fucking car humanly possible to navigate and dry. I had, I’ve had them both. I paid 19% interest for that motherfucker. Damn K for that car.

And then I went and here’s the beautiful thing. Here’s, here’s the story I want people to hear. I bought a Hugo at 19% interest that broke down on me constantly. The it in the middle of Portland winter. Uh, the defrost never worked. I mean, it just what you would expect a communist country to build right under the communist tenants. Fucking imagine that car. And I bought it. I didn’t have, I had no idea. I didn’t have any sense of cars. I didn’t know what was good was bad. I didn’t know any about electronics. I didn’t know anything about mechanics. I knew nothing. I’m an idiot at 20 years old. What, however old I was, and I bought that car. But I bought that car because I needed a car to drive for the Messenger company I went to work for. Okay. And so of course, I buy the world’s most often broken down, biggest piece of shit car on the planet to drive for a living that tells you how stupid I was when it was.

So anybody listening out there understand whatever mistake you’re making, whatever you don’t understand, whatever you think that you can’t handle, just know that the guy sitting here, I was that more on, I didn’t know anything. I purchased a car at 19% interest to drive for a living. That is historically, this is no bullshit, arguably, but there aren’t very many competitors, the biggest piece of shit car ever to come off of an assembly line. Okay. It was like, I don’t know this for certain, but I’ll give you an idea. When I say piece of shit, I mean like rope for a clutch pedal.

Yeah. Or right. That operated the clutch, that sort of level of complete piece of shit. And so, uh, it broke down all of the time. But what do I, what have I owned for the last 20 years? The business. All right. Uh, a transportation business. Right. Because that fucking piece of shit car that I for a while thought about setting on fire to collect the insurance money. Yeah. That’s, that’s the kind of kid that I was thought about doing that because I was so upside down on it and all it did was, was break down on me. And, uh, you know, the predatory lending as we would call it today, fucking was in full force on that program. I went to a major car dealer here in Portland and they had their, uh, their dealership financing. There was a word for it. There was a name for it that I would love to name and I’m fucking completely forgetting the name of it.

It’s been so long ago. And, and I mean, they just saw me coming from a fucking mile away. No credit, no nothing, but I knew how to work. So I had job, I could afford it, right? So boom, 19% interest and I drive this world’s big as piece of shit car off of the, off of the, uh, the clot and, but it broke down. It broke down. I learned a ton of lessons. I take responsibility for it. 100%. Nobody make me fucking sign that 19% I did that of my own free will. And this is pre internet days. You know it today I would look up how to buy a car. I would look up how to interest rates work. I would look up what’s a good interest rate to purchase a car, what’s a good interest rate if I have reasonable credit, shitty credit. I mean you can find out all that shit.

You have no excuse now in my day fucking, there’s no way to figure that out. That information was completely available and I bought my bike, but 30% interest. Yeah, you can go look for it. Yeah, I wouldn’t have gone and looked for it either. I mean, I say it’s available to tell anybody listening. It’s available. Go look for it. Don’t make the mistake that I made because even if it were available, I wouldn’t have because that had been ignorant about it and I had a thought, I knew what I was doing and tried to look cool and whatnot, you know, not want to be wrong and all the shit that 20 year old morons do. Um, and, but the result was, and I didn’t bitch about predatory lending. I didn’t bitch about, they fucked me over on the 19%. I didn’t do that. I just ate it and lived with it.

And so then I grew up, but I, I built enough credit, uh, using that to go buy a less piece of shit. Uh, 19 mid 1980s Mazda pickup truck with a long bit. There you go. Big fucking white, a big fucking white canopy on the back that wade way too much and suck the life out of my gas mileage out of this little four banger Mazda. But it was much better truck. It operated much better than the Yugo ever did. So I increased my income, but I was making two payments for a good year and a half on both cars, but it was worth it for me to just park that piece of shit. I, I must’ve sold it obviously. Uh, but I got finally was able to get rid of that after working my way out of a terrible opportunity to have terrible deal. And then I went onto the Mazda and then from the Mazda I bought a Nissan that was tip top.

It was about three, four years old. Had a nice collection and maybe 50,000 miles and that fucking thing. I drove the wheels off of it and it worked phenomenally and it never broke down. So I, I was able to start lower than low and work my way up and now I have had 10,000 employees that I paid to do the same thing that I did, trying to get them not to buy Yukos and shit like that and learn from what I did. But I ended up owning a company and ended up having everything that I have because of a 19% interest loan. Yeah, I mean I, you know, again, there’s no other way to look at it, but that, so my mind is better than none than blaming then for giving me a 30% interest rate. Nobody would even give me a loan. I went to the bank, I expected like 15 to 16% and they were just like, now my turn, bigger risk for that.

I asked my parents, put like, sign me on this so I can get a bike and everyone, no, no. I found somebody who had gave me 30% and I gladly took it because it was money in my pocket. And that’s where, um, I think I reacted so strongly. 15 pod track 20 podcasts ago when you asked me about student loan debt and right, there’s probably some basis in that I did that exact same thing and fucking paid for it, but didn’t bitch, didn’t cry, didn’t whine, took care of my responsibilities and moved on and prospered under the worst of circumstances. I prospered. So, uh, the point being in all of this is if you want to get into business, there are some tips for getting into business and just understand that if you ask a few questions and you get creative and you’re not shy about it, there’s probably a way to work it out.

Even if you don’t have money. That’s what I want everybody to hear. Jerry’s tips on buying business and if you have any questions about it or you’re not feeling good about it or you want to do it, hit me up, ask me. Uh, Billy will tell you I answer everybody and I’m happy to, to give you some advice or some thoughts or some ideas. Yeah. Um, I’m working with a couple of people right now are doing the exact same thing, so they’re having some awesome success by the way. We’ve got to bring, uh, Hendrick in here. Yeah, for sure. That’d be an awesome, sure. Yeah. I’m helping another, uh, a lady, she’s selling her business and just hit me up at the gym. I’m happy to fucking help. She’s like, I didn’t know any of this shit. Nah. Yeah. Again, why would you, right. That’s what you need me for.

She’s thinking, she’s like, last year my business didn’t make any money there anybody on his business out there last year, her business didn’t make any money. I was like, that means nothing. It has huge value. What do you mean? Well, the is don’t sell by how much money they make. They sell by how much cash they generate. So you have all of these add backs. That’s the Ebidta, uh, the earnings before interest, taxes and depreciation. You fucking had all this money back in and how much cash does it generate? And then you sell your company based on that cash flow at a multiple, the might be three, the multiple might be five, the multiple might be 20, right? Depends on the industry. Uh, or depending on the industry that the business might sell off a revenue. So they might give you 50% revenue, are 150% revenue. I know printing companies that have sold at 150% revenue.

So if you don’t know how the game’s played, what, how are you going to do it? I’m happy to help. So, uh, and then in that case there’s a real estate play, uh, to increase her net worth, uh, with selling the business and going in and buying a piece of real estate before she does it and attaching a lease to the business, uh, that then has to be bought out by whatever company buys her. Uh, and she then gets longterm rent or gets paid for her rent a year or two in advance so that she gets, you know, the least bought out essentially, which gives her time to then turn around and lease the building to somebody else. Uh, increasing her cash flow and on the short term and her net worth on a, in the longterm. That’s awesome. So there are so many, I mean, I, I’d be here all night.

There are so many opportunities and there’s so many options for those opportunities that have nothing to do. I said this, I think on the first deal I ever, or in the first video we ever made with Matt, I think I said on the first day on that first one, I said, go find the cash. If you look at some of our earliest Instagrams, I’m going to say it’s first couple of posts, go find what you want and then find the money. That’s how it works. That wraps it up. Uh, we forgot to do or our advertisement for other fuck everything in the beginning and the middle. Okay. People just pretend like we talked to you about podcasts. Yeah. Pretend like we talked to you about going to all our socials. Well, you’re the man. If we remember from episode one, really, how do all of those, all of the sudden I’m on all the socials, but you don’t name any, uh, that’s right through this whole podcast.

If you listen to our podcasts, you should definitely go check out the website and follow us on social media and send us a message. We need to do something. So we need to put it at like end of one of these podcasts where it’s like if you listened all the way to the end, he could go to this specific link and do something and you get something that way we can actually tell who listened to the end. Yeah. Why wouldn’t people just immediately go to the end? Why would people immediately go to the end to find out what the link is? Well, they won’t know unless they listened to the end and we’re not going to warn them about it. Oh, I thought you were going to warn them up front. Listen to this whole thing. No, no, no, no, no. We just hide it in the end.

The people who make it to the end, we care about it. I get you. Yes. We can encourage people to listen to the entire podcast and then we have notes to ourselves that at certain points in the podcast, we drop pieces of information that lead to getting something for free. Mm. Boom. I like it. I like it too, because then we’re, we’re helping now and giving back to the people who actually listened to us. Right. We can start telling who’s actually listening to us or if anybody’s actually listening to us and anybody out there the benefit for them benefit for us. We’ve got to do it. What do you guys think or a rich enterprise be? Tell us what the price who like, we could do tee shirts, hats, we could do gift certificates, all that kind of shit. Yeah, that’d be cool. I like it.

Uh, that would be cool. Uh, so this is what we were supposed to do in the first couple of minutes and in the middle of sometime that we continue to fucking fail at better late than never had except we do this every time. We’re supposed to be encouraging you guys to go to youtube, Instagram, Facebook, iTunes, Google and reddit. Now seriously, uh, you complained about how I said it, that it was the worst intro ever. It was hence that get readout of all vert is different socials. Do you think anybody actually internalize that? You talked about Youtube, Instagram, Facebook, iTunes, Google and reddit. Yeah, that’s just gotta be like boop. And one of them dudes. I’m trying to replicate those dudes that are like, you know, think of your company coming up with a no guarantee you that nobody was going to be the idiot. No Leeway. Let David if it is cause it’s legal jargon, you too.

And Instagram, you guys get it. Jerry Bracey on all the one that all of them. Go check us out at [inaudible] dot com you can email us questions at Jerry brazing are calm and Jerry raise U. Dot com is looking fucking good, Billy, if I must say so myself. Uh, I will happen at lunch. I was having lunch with a dude today. He was all over and hooked it up on his phone right there or right then. And then he’s got three kids, one that’s just going to college and one that is a 16 year old and one that’s a 14 year old. And he’s hooking him up with all our shit cause he’s like, this is exactly what these kids need to hear. So, and then his wife was bitching about college and how expensive it is and how it’s a big scam. So he’s like, man, I’m hooking the wife up to.

So that’s, I was like, perfect. That’s what we need. Tell your friends about us. Uh, let them know that, uh, there’s some loud mouth on the radio, uh, that are on the, uh, on the old podcasts that you can go to and listen to a, make a fool out of themselves. If there’s a subject that you want more information about that you think we should do a podcast about like this, I’m sure yet there was lots of people who wanted to know how to fund a business without much money down or without having anything saved up. Sure. I’m sure there’s tons of people with questions like this. Listen to our shit. Let us know what we should do a podcast about. We’re going to bring a, we’ll bring John on. He’s happy to come on and we’ll talk about, uh, all of the, you know, some, some specific examples. He has a financing that he’s done. Uh, and don’t forget though, most importantly, fuck, I’ll Spotify. I remember people, opportunities are everywhere, but hey, not only do you got to go get them, but you can go get the money too. And if you listen to the whole podcast today, you can see that there is opportunities for everybody. Uh, out there. So go get peace out. Peace.



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