Buying Online Business: 18 Year Old Closes First Deal

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welcome to another episode of future dealmakers I am very excited to be here with our guest today he has a pretty amazing story when he reached out to me I couldn’t believe how old he was it’s been awesome to be able to work with them I am here with Steven Lee thanks so much for joining me Steven hey so first of all would love for you at the moment and just tell people about your background I mean I know it’s not huge long but you know tell me what about kind of where you’re from what you’ve been up to and a little bit about your eyes renewal background hmm so I’m from California Sacramento and um I’m gonna start UC Berkeley pretty soon and you guys I sleep on uh my entrepreneurial background from a little competition I did in high school and it kind of exposed me to business and uh that was very interesting for me so afterwards I just started reading a lot of books on business uh and then I came across like buying and selling businesses and especially your bookcase and that was very interesting for me and then yeah that’s how I basically got into buying selling businesses now you left out one thing that I know the audience is going to find incredibly interesting no you have to share how old you are in what year you’re going into Berkeley mm I’m actually 18 right now I’m going into Berkeley as a freshman yes you are freshman and you already haven’t started in freshman year yet and you’ve already done your first deal so for me that’s a very big deal we actually have a couple of folks in the program that my IT but and I did my first deal at 19 but I don’t know anybody who got their first acquisition done at 18 wins know that’s what do we gotta look into that that’s that’s really amazing so kudos and congratulations to you on that someone talk about a little bit I mean I know you’ve done some entrepreneurial things like I said you got interested in high school talk about that and then why doing deals was interesting to you does you know you’ve done some things from scratch as well hmm yeah I think doing deals is very interesting to me because it’s it’s a very great investment strategy I don’t know of any other investments that would give such high returns both my parents are real estate investors um and their returns are very very low compared to website and business deals and um and it’s just a great investment strategy yeah it is it’s really it’s really amazing and even compared to offline businesses love offline businesses I still own a couple but when you compare just the other benefits I mean you can get a great return with the offline businesses but being able to get that return be location independent do it when you’re also going to college yeah but those kind of things are very tough to pull off when you’re doing an offline business so I hope recently we got your very first deal done which was really exciting but you know on and when you’re still coming from a space you haven’t done a deal talk a little bit just about how you were feeling in that moment you know you’ve got this opportunity you’re about to close on a deal did you were you nervous where you were excited mmm um I guess when I first close on the deal is very exciting for me I also went out and checked all the deals and the websites and it was very yeah he’s definitely very exciting for me and yeah cool very cool so your young guy I mean you’re you’re going to college um you know talk a little bit about your future plans where do you want to go from here what’s going to be your major school and then how do you see becoming a future deal maker fitting into your long-term plans well I’m actually studying Business Administration in school as well so um being a future deal maker fits in very well with that um and I’m definitely going into the business field after college as well well I think you’re probably going to have a leg up on a lot the other freshmen coming in but what do you feel like is is any impediment or any hurdle that you’re facing right now like you have any of those burning questions that you as you’re going through the process you’ve got to first feel done you know what do you think is going to be anything that may make it tougher to get to the next level um I think I’m gonna do are very um very straightforward as long as you do all the due diligence check out everything yeah um I don’t exactly foresee any big hurdles but um I think it’s just like really getting to know all the websites the business you’re doing and then checking out everything yeah yeah I think the biggest opportunity for you is dipping your toe in the water on a few different fields um you know I think gaining some expertise in you know all the different types of businesses it’s one things that I’ve talked a lot about I think a lot of people love internet businesses together and each one is run so differently you know running the last business it’s totally different from dropshipping it’s totally going from affiliate and Adsense and so all these things and so to get that kind of depth of knowledge really from the back end of being able to see how these things work is really valuable the other thing that excites me about you is that snowball effect so even starting with with an initial deal and getting just one bill and starting to get the income from that and then going out and eventually get another deal and having two bills earning money you just time is is hugely on your side and when you’re getting 50% returns and you can build that diverse portfolio so that you’re protecting you’ve got a safety net there with multiple deals which actually the you know I think it was a neat opportunity to first feel that you’re in it does have three bills in AHA you know that that also is great that little bit of a safety net so I’m big fan of these huge returns but I also do recognize that you know there’s there’s risk so the more diversified you can be even if one of them goes down you still get 30 you know 4050 percent returns and so that’s one of the reasons that I’m an investor your deal is longer than other deals is because you know I want to have that true diversification so I’m very excited I definitely want to do a follow up call here in a few months and kind of see where you are and kind of follow your path as you go forward but you know really honored to have you as a part of the programming thank you so much for jumping on this episode of you to be like oh thanks