How To Make Money Buying And Selling Businesses: Tai Lopez On Purchasing Pre-existing Assets

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how to buy businesses and resell them for a profit today was interesting I’m opposed some footage on YouTube later it’s on my snapchat of me talking to some people some fans came up to me at the end of the Laker game not tonight and there were an 18 year old and a 16 year old and they’re like yo man we follow her stuff and we bought an app for 4 grand and renovated it fixed it up remarketed it and they made six hundred grand in the last three months you’ll see I’ll post either my snap I’ll try to repost it here on YouTube and I was thinking this is the unknown I’ve been talking about this and I don’t know why more people don’t catch on to this you can buy pre-existing assets renovate them and sell them for more that can be a business model like a lot of people think they have to be an entrepreneur and start with everything from scratch but it’s not true let me give you an example I told these two you want to do is I was like man you Bill Gates did it’s not even a word you know what Bill Gates did he figured out a way to buy Doss for $50,000 years ago I think he was still a teenager and then he turned it into Microsoft okay now some people made fun of Bill Gates and like oh he stole daus no he bought it haters try to come out of nowhere whether it’s you or Bill Gates they’ll try to make up reasons cuz they didn’t do it so they’ll be like oh he stole when you buy something for somebody and it’s a legal ethical contract that’s called buying debt that ain’t stealing when these two young guys now their app is a top 20 app forget the name of it right now dammit but anyway so my snapIt gonna reach out to you you might be thinking about starting stuff from scratch and that’s okay to do I’ve done that but this let’s pretend your idea let’s just use the metaphor of real estate does every wealthy real estate investor they buy a raw piece of land did bring in dozers and heavy equipment and dig a deep foundation and then put in the you know the framing put in an apartment complex put in the electricity the plumbing and then start making money well some people do that I had a mentor that did that that was his business model for real estate well you know what most people do their buy a pre-existing asset a building that’s been built for 10 20 years they buy it they either renovated they change the use they manage it better they market it better and they increase the value sorry I’m in bed here just giving you a final thought of the day now when I talk about this with real estate everybody goes yeah I do with that make sense and I’m like will extrapolate extrapolate that over into anything you’re going to do there is an unprecedented amount of small businesses for sale because the average demographic in the United States is of an aging population and a lot of those aging retirees or people who want to retire they’re old and there’s not enough young people to buy them so you could be 16 and be buying them like this kid or this kids I think 18 you could be 50 and be buying these assets there’s people 70 years old selling solid companies it’s okay to build things from scratch that’s what the news shows you they show you the Mark Zuckerberg the uber ‘s the Airbnb e these all go from scratch that’s okay but there’s a lot of wealth created from preexisting Geico Warren Buffett I bought an asset called Geico government employees insurance company and it wasn’t doing too well Geico was purchased by Warren Buffett it was had been in business for many years and he said let’s market it better and look at Geico now you got the Geico camel and like this painting and the 15 minutes will save you 15% on your insurance and now Geico is one of the most valuable assets companies in the world multi multi-billion dollar company wasn’t started from scratch so I don’t you know there’s so many miss out there in the world crazy crazy crazy the things that people don’t understand and I’m like hey you don’t have to take my word for it this ain’t my opinion hello when talking opinions here I’m giving you heart cold hard facts the UFC I’m going to the Conor McGregor fight tomorrow in Vegas you think that the UFC was started from scratch by the current owner no I believe you bought it for 1 million dollars from the Gracie’s and then he turned it into a billion-dollar company by renovating improving remarketing using a new management team that could be you that could be you Jeff Bezos now who owns Amazon if he wants to get into a new industry buys them now I would do a whole I want to go to bed but could do I’ll start I’m going to do more series on how you buy businesses I tend in my past to have built more things from scratch part of that is because it’s kind of my i’m an entp and the Myer Briggs we like to innovate but as I’ve gotten more experience I purchased pre-existing assets and just improved them and then resold them or you can keep him at my conference and Rosa at the Roosevelt if you guys came if you came last week there was a guy that’s what he does he buys I think he has a portfolio of 24 companies he’s purchased average revenue from 3 million to 300,000 to ten million smaller company small to mid-sized and that’s how he makes his money oh don’t always believe the height that you always have to build from scratch maybe you’re an innovator like me and you like to build from scratch more but always round out your skill set begin to think about the ability how can I buy I mean do you like that about that eighteen year old kids idea five or six hundred by four four thousand make 200 grand a month the last three months sounds pretty good even to me so make sure you check out my snapchat by the way a lot of you I tell people might follow my snapchat they’re like I don’t really use snapchat I’m like even if you don’t like my whole snapchat this is not all of its going to appeal to you but what if that one snap I did with three snap videos I did with those 16 and 18 year old got the mine going and you go out and begin to investigate purchasing pre-existing or pre-existing existing businesses assets can be worth a lot of money for you that’s why I say use the tools my snapchat put a little link it’s ty Lopez the number one trying to get snapchat – just give me Tyler Pez somebody else took it that so if you don’t see it under Tai Lopez when you watching this video later maybe I’ll change it to Tai Lopez we’ll see won’t catch my count my chickens before they’re hatched just remember don’t always believe the hype the news I was just on KTLA doing the Smart Money segment on the news but there were reporters sometimes authors of books they’re just authors they never run a business go straight to the top I talked about that in the 67 steps it’s the way to decide what to do look what Warren Buffett did and Bill Gates that the richest people in the world look what Carlos Slim did look around you for evidence believe with evidence I’m giving you evidence so you can have faith that what I’m telling you and I’m doing it with no you know I don’t have any bias I don’t care what you do just telling you what I think and I’m giving you evidence because I try not to have a belief without having evidence now there are people like I said who only build business from scratch but round out your skill set why only have one skill set I like having both I like to be able to innovate from scratch and buy stuff there’s a gold mind out there but businesses I got a friend in San Diego he’s just picking up businesses he bought a fencing companies been in business 30 years the guy’s like seven he wants to sell there’s no one there to buy it friend picked it up for a deal cheap bomb money and it’s a safe bet because that business has been in business for a long time now give you a little three little tips if you ever think about wanting to buy an existing asset or business number one make sure the books aren’t cooked what do I mean by that well they might be telling you they’re making all this profit but you really want a CPA you hire a CPA or an accounting firm to come in and verify those numbers that’s rule number one don’t be getting cheated rule number two still only buy in things that you understand don’t be buying just because there’s a pre-existing asset of business or restaurant if you’ve never been in restaurant business tone bar restaurants you must have skill so number two don’t be chasing money chase expertise the geeks expertise you already have rule number three I’m doing this right is if possible try to create what’s called an urn out situation meaning you don’t just buy it all for cash and then the owner disappears you want to give them cash over time as long as the business as long as they help you transition to being the new owner because if you just give them a sack of money they disappear you might not know how to run the company so we should you call this an urn out you’ll say here’s some money up front plus I’m gonna pay you every month for the next one year or something in the next two years as long as the business keeps rocking and rolling not that way the old owner has incentive to teach you and stay in the business also if they cheated the books they won’t get their money because you’ll soon discover the business sucks you know it’s three tips there’s a lot more we’re talking to business we’re talking business world we’re talking the language of money this stuff might sound foreign to you better learn it if you want to make money you go to China you better learn Chinese or have an interpreter I wanted to Czech Republic ones most confusing city I’ve ever seen you better have a GPS giving you some of these free tips some of you in the accelerator is way more advanced people say Thai while you sell an accelerator like well because I invested a lot of time and energy and I still do on a weekly basis giving you the most cutting-edge business stuff so you get hurt here about the accelerator there’s an application you got to fill out and all that stuff some people liked are you trying to be pushy to sell stuff on your videos I’m like no I don’t care if you buy it I’m happy to help people who want to learn I’m grateful for the things that I learn and I want to pass it on and a lot of what I learned I paid to learn cash traveling around the world paying coaches and trainers paid by making mistakes so fair is fair real recognize is real and I hope that whether you get in the 67 steps accelerate you know to buy my programs Tony Robbins gots the blah blah blah now there is nothing that I’ve seen that’s like mine because obviously I design mine but just get help just get a map get a GPS you can use Waze you can use Google Maps you can use Apple maps just have a map and I’m not talking about a street map I’m talking a map of getting from where you are in here to getting where you want to be in your business or finances people always talking about all time I’m hoping and praying that this works out now don’t hope a bright I mean you can hope and pray but in addition to hope and pray make sure you got the tools in your hand and the GPS and you need a GPS they know how to do this purchase pre-existing stuff you might get lucky I’m at the stage of life boy I had a sprinting coach today wait coach I have my branding business coach come in I’m having about 18 different coaches a week I don’t want to do stuff by chance life shorts like a parachute jump you jump out of a parachute out of airplane with a parachute you don’t want any chance you never done it before make sure you have somebody jumping with you quick way to die that’s why most people about 80% of small businesses that are launched fail they have no GPS they got no man so choice is yours just keep getting help you could keep watching this free video I keep posting these when I can watch my snapchat follow other business leaders read other business leaders stuff you know I don’t even consider myself a mentor what I do is just I’m in the game I just share about my life in the game no professor you want a professor go get a professor you want somebody doing stuff well that’s a different story so check out Todd Lopez calm got 67 steps got the accelerator so I got a invite-only program called the biz Builder I got to meet you in person for that you got to come to one of my conferences if you want to be an N you’ll have to make sure you’re reading books I got a free book list I hope is calm slash books soon I’m launching a program where you can train with me I spend 50 to 100 G’s a month training and I won’t charge you fifty to 100 grand a month to do it but I’ll share with it for a fraction of that price and how it’ll be a paid program like I said if you don’t like to pay for shit just watch my free stuff but I will warn you you ain’t going to get everything why cuz I’ll have the time of attention to just record free videos and I got 70 employees that helped me build the badass stuff and I got to pay them every month because I pair if I pay a fair wage I don’t have free interns are none of that nonsense I mean it’s okay to do if you have intern but I don’t abuse people I pay him so I won’t be able to pay him that’s why I charge for these program because they help and it’s better for you people are cheap with the wrong thing man might be cheap with other stuff don’t be cheap with your freaking financial future that’s a fool’s game but you know what you’re going to find as you rise up most people take the fools path they’re not fools they just get seduced they get seduced by the easy route they get seduced they get tricked by the modern education system never equipped us with the things we need to know everything I just said in the last 10-15 minutes don’t you wish they had told you at twelve thirteen fourteen start thinking about the purchase and acquisition of preexisting assets you can do it with other people’s money you can get the money you don’t have to have money I showed one of my best friends in North Carolina and he bought a business no money down got the money from somebody else for a big deal gave the the investors 20% he kept 80% of the business he bought 80% and he put no money down he bought a body shop makes millions of bucks a year he never even walks in the place he bought a preexisting asset don’t you wish they had taught us this in school don’t you wish they taught you this in college he paid for college and you paid for high school too paid with the worst thing ever time I did too wasted freaking time and taxpayer money if you’re in a private school and all that so this is what’s up man I post my lifestyle and snapchat not to brag not to but to show you I wish someone had told me there’s a whole cool world out there man when I was broke ain’t no coal coal cool world come on my way when I was growing up you know I had single mom and stepdad later on and did some cool stuff it wasn’t as cool as it is now when you can come to a place of financial independence or financial health and security I’m not talking about you have to make a million or a billion or whatever you pick your number but you gotta be at a place of stability can’t be freaked out all the time that’s not a good way to live every once in a while it’s good to be freaked out but man you can’t have chronic freakout syndrome about your money learn the language of money train with the language of money there is no other formula you’ll get what you deserve in the end if you truly deserve it and the problem is we live in a world everybody thinks they deserve it but that out let the Laker game I sit behind the bench listen in on the Lakers listed on the man they ain’t doing so well I saw Genie bus I had dinner with her the other day the president of the Lakers and I saw her today said hey what’s up what are you reading and she’s like you could tell she’s like working on the Lakers I was like you’re smart woman you you’re gonna work it out Lakers will rise again but as all about training you bring the best players to the team that train the most you got the best chance of when I’m in your life financially you put together the best training program you don’t be lazy you don’t procrastinate you’ve got a good chance you got a good chance there’s a little luck and a little Phaeton got on your side and all that stuff but be careful no train no wind sound like a Bob Marley song or something no train to win there’s no woman no cry so go to bed don’t adjust Conor McGregor thing watch my snapchat see who wins this bad boy Conor McGregor fighting Nate Diaz it’s Conor McGregor guys like I think I’m gonna go behind I think you have season let me behind behind the scenes so you watch my snapchat gonna show you behind the scenes of this fight before the Conor fight but if they don’t I got pretty good seeds so watch my snap to see who wins it’s gonna be pretty cool I love UFC I wish I had bought that I wish somebody had told me on 12 bro by preexisting assets I could have bought the freakin UFC you only had to put together a million bucks that sounds like a lot well if it’s a good existing entity you might be able to borrow some money from a bank you might be able to borrow some money from venture capitalists or not borrow it now a damn Kickstarter I had some dudes at my house got to have my house today training you I hope you didn’t miss the live call today because it’s free on my website Tai Lopez comm streaming through my website can watch on your phone and computer you can watch on my facebook live and I just had a guy showing how he teaches people how to use Kickstarter raised a hundred thousand and thirty three hours shows people how to do it you know always raise a hundred thousand be shows you five six seven techniques so don’t be missing these live calls I’m giving these free people still miss them that’s what I like to always give things away for free they take them for granted if I charged everybody more people would pay attention to it so learn the language of money learn the language of money if you go to China you wanna have a good experience you speak Chinese you want to go to rich person land you want to go to financial stability land speak the language of those already err and one of those things is understanding the purchasing of assets by the way the LA Lakers was purchased by Genie buses dad doctor bus he bought them for 60 or 70 million dollars in 1978 or 79 Lakers already existed and now it’s worth billions boom turned into boom the dome to doom you don’t always have to start it from scratch what I wish they had taught us at school all those you always worried for my stuff and any stuff on the internet to scam I’m like bro you already been scammed people who worried about being scammed up like I’ve already got scammed kids getting scammed every day they got coca-cola hidden schools they got kids doped up on freaking pharmaceuticals that we all know now some kids need pharmaceuticals probably not as many as our awed it has all these scams everywhere the nine-to-five for many people was a damn scam so what you do instead is you go with a lot less fear and you learn to think like a rich person before you’re rich Muhammad Ali said he learned to think that he was the greatest before he was he learned from the Great’s you do the same I’ll try to do the same we all try to do it me and you on the same track I hope it’s all about the increase it’s not about the setback it’s all about the get back maybe you’re in debt now maybe you know stuffs crashing and burning focus on the get back and one way to get back is what I share with you today how to make money by behind and selling and maybe even flipping existing businesses leave me a comment this stuff helps you share with me what helped you about this video so I know how to make better ones for you leave me a comment some people too lazy to comment like bro you too lazy to comment you too lazy to make money people won’t tell you that I’m gonna tell you the truth right out some people line and complain I call them wishers and waters I wish I had my money fuck that last time I checked of you wish you were in better shape doesn’t make a difference wanting to be in a better shape train learn then you get in better shape execute don’t procrastinate motivate yep keep it simple man like this painting it’s pretty because it’s simple good night