Surges of Income Podcast

Episode 4: How To Master Consulting For Equity

• Chris Moore • Season 1 • Episode 4

What happens when you take the leap and quit your job of 12 years to pursue your passion? Maurice Grant, a real estate investor and consultant, did just that and is here to share his journey and insights. With a newborn baby and a dog in tow, Maurice is a true renaissance man, and in this episode, we discuss his path to success, from owning a car rental agency to providing business consulting services.

We delve into the fascinating concept of consulting for equity, exploring how to determine the buy box and personal criteria for deciding which deals to pursue. I share my Fab Five criteria for high-ticket, high-margin, nationwide or worldwide audience, and easily targeted customers. Plus, we discuss the potential of using consulting for equity to build a business and the importance of specializing as a consultant in order to capitalize on the power of niching.

Lastly, we focus on Maurice's experience in both real estate and consulting, highlighting how his expertise has helped him become a smarter buyer and consumer. We touch on leveraging credit cards to acquire cars for rental businesses and finding buyers for the cars. If you're interested in learning more about consulting for equity and growing a business, you won't want to miss this insightful conversation with Maurice Grant!

Be sure to follow me on IG and turn on notifications for my future Surges of Income Podcast episodes.  I will be hosting these LIVE up to twice a week.

👀 Watch my "Surges of Income" video to learn more about surges of income - https://youtu.be/tPDbhr0n1xI

Enjoy.

Chris Moore
The Intentional Investor
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Speaker 1: All right, we're live surges of income podcasts.

Speaker 1: Chris Moore here again And just to remind you if you're new to the podcast and you've never seen any of our other videos, the focus of what we're doing is all around surges of income and helping people who are inside of MyCircle of Influence or InnerCircle at Dealmaker Well Society and our protege program, or people that we meet and we connect with at our Dealmaker weekend events and just talking about surges of income.

Speaker 1: Surges of income is really money that's coming to you in large amounts really quickly, rather than just focusing on raising your monthly income, where inflation and cost of living constantly catches up, but instead being able to make money in really fast and short spurts that allow you to put that money into investments, grow your net worth, and we do that through building businesses with the ability to sell the businesses and have a big cash out, having real estate properties and being able to make money on passive income there, as well as selling those properties for large gains like flips, as well as building businesses that are very profitable, where you can live off your normal income but make lots of profit distributions that can go directly towards your investments and growing your net worth And, lastly, tapping into business growth strategies and digital marketing, where we can go out and do product launches and live events to make lots of money in a short period of time, and that's what surges of income is all about.

Speaker 1: In this podcast, i really want to dive in and just mentor people, live off the cuff and just talk to people about what they're dealing with so we can probably help them any way we can towards getting towards surges of incomes. And today I have Maurice on with me, so excited to have you. Can you introduce yourself and tell everyone about yourself and what you're hoping to get out of this session with me here today?

Speaker 2: Yeah, for sure. So my name is Maurice Grant. I'm a new resident here in Atlanta, Georgia. I recently just had a newborn baby boy, four months old as of yesterday.

Speaker 1: Quit my job about two years.

Speaker 2: Thank you, man, thank you. I quit my job about two years ago, so I'm going on into my third year now and I had a full-time job for about 12 years where I just worked as a security officer and for good, anywhere average between 12 to 18 hours a day. I met work And I just got fed up with it. I quit. I got into real estate. I'm a real estate agent, real estate investor, but I seem like that wasn't for me, because I just wanted so much more Real estate agent. I got to show houses all day. It wasn't for me.

Speaker 2: Real estate investor, i'd rather just buy and not have to worry about it ever again. Just when I came across you, abraham Carl, and joined into the Protagé, the deal maker society and I was like I can buy businesses the same way that I've been buying real estate. So that's just a quick story of where I've been. Where I'm at now, i was like I'm just ready to fully take action and conquer. Oh, i guess. Business-wise, i currently am a business owner. I have a car rental agency where we have 27 or 25, i don't know 20-something cars that we run out between on-turo and off-turo, mainly off.

Speaker 2: And then I help people just get their business established with consulting work, which I didn't know really what I was doing. I was just doing it getting their brand together, getting their logos, their websites, their business actually set up correctly. The only part that I did charge for was getting them business credit, and the rest of it I was kind of just doing for free. Man what a renaissance man.

Speaker 1: I mean. First of all, congrats on the newborn. I know that's super special. Just my kids are out of school today, so they're home And I remember four months old. Now my oldest is 14, my youngest is 13, and it's like having two little grown-ups in the house. I don't envy you, but I also miss those days. So enjoy every minute of it. Is that your only child?

Speaker 2: He is not only a child In a dog.

Speaker 1: In a dog. Yeah, it kind of counts. You have to change a dog's diaper, though, most of the time, which is good. So let's dive into a couple of different things. And then I want to talk about kind of what can I do to help you the most? So we have an understanding of where you are Definitely can agree with real estate sales. I was a real estate sales agent as well residential resale mostly and showing houses and all that did not allow me to add enough leverage to my life, so I didn't have to do that myself. So over the time we had a real estate team and we really had a really good run at it, like six or seven years, made some pretty good money. But that was not my calling. I realized really quickly like you did, like I don't want to be out showing houses all the time And I don't want to be going and pitching myself at listing appointments constantly. So definitely agree with you there. But would you say you're a smarter buyer and a smarter consumer because of having that experience?

Speaker 2: I would. I'm so grateful that I even experienced the route that I did as far as becoming an agent and going the route to be an investor. It made me more aware of the whole process, that no offense to other agents, but that majority of agents don't know nothing And that is so many different ways that you can actually buy a house where you don't even need money, you don't need credit, you don't need an agent. So it just educated me a lot more.

Speaker 1: That's good, I know. For me, when I was selling mostly in 2012, 2013, a lot of foreclosures on the market. Back then short sales were still big, which is almost unheard of today. I represented a lot of investors and I didn't really know much about real estate investing back then, but I got to learn about their buy box, why they bought the way they did. It was quite the education for me And for me, all the investor leads came from Craigslist, right, And it was definitely a different world 10 years ago in real estate sales. But for me, I would not trade that experience for anything because today, as I buy properties and today I text my mom, who's my agent she's putting an offer in for me on a house that's about four or five houses down from where I live currently.

Speaker 1: I think about how much I've advanced as a real estate investor because of my experiences. So I think it's cool to meet somebody else who started that same path. And they're right as a real estate agent, we don't learn anything about creative financing. All we know is they're a buyer, there's a seller, we're going to represent them and get our 3% and our piece of the pie And we were trying to keep ourselves relevant. That was the biggest part of being a real estate agent for us is. I know Zillow's cool and all, but you still need us because of this right.

Speaker 1: So I think we're getting a little off track, though, but what's really fascinating about you is the Turo business and the car rental business on and off Turo. I want to talk about the stuff that you want to learn more about in just a second, But this is interesting. If you don't mind me diving into it. Tell me outside of Turro, Do you have your own website? Do you have a really convenient location to the airport, Or how are you getting those customers and how are you getting yourself out there?

Speaker 2: Yeah. So, um, i Said I just moved to Atlanta. I was originally living in North New Jersey where I was about five, five to ten minutes away from North Airport. Okay, it was very convenient. So to me to drop cars off to the airport was just like, like that, um, just a quick taxi ride or a quick bus or just have my wife follow behind me. But I started, the car, went to. Um, i started what two, three years ago. Basically we had one car. This is when COVID just happened. My sister and I was living with us And her car did not leave the driveway ever, like it was just sitting there. I'm like all right, we got to do something with this. Um, i remember listening to a podcast and somebody mentioned Turro, where you can rent your cars out. So I looked into it. I was like all right, this sounds cool, let me get into it. Renting the car out, at first week I think we made like four hundred dollars. It was like whoa, this is kind of good.

Speaker 1: I like this Yeah.

Speaker 2: It was a 2016 Nissan center, I think it was.

Speaker 1: Not nothing to whoever, not not really a nice car, just practical right.

Speaker 2: Yeah, just a normal car, And I'm like we making 400 on this, that was the car note right there in one week. I'm like, all right, so let's see about getting more cars. Um, because at that same time I was diving through the world of credit, understanding like how credit works, i started to leverage my credit to acquire more cars. So I went out and bought six more cars, wow, um. And then I scaled my fleet very fast. So, from the personal cars I had, all I kept doing was, um, putting pictures up on instagram, leveraging social media, facebook and documenting my journey, giving people the ins and outs of like, all right, i just started in july. I'm now in december. Here's my takeaways. Here's the good, the bad, the ugly and the crazy. Um, horror stories for days. I can write a whole dictionary on the horror stories.

Speaker 1: I bet.

Speaker 2: Um. So from me doing that, more people seeing what I was doing and it was just giving me cars to manage. So I grew my car, my fleet, from six all the way up to like 29 is the most I've ever had.

Speaker 1: Wow, so you were. you were actually using other people's cars too and managing the toro For them, so someone had like three cars. Like me, i have three or four cars, usually at any time. I could just let you use it and then, almost like a property manager, you just take a percentage of what it rents for.

Speaker 2: Oh, wow. So that's basically exactly what it was. Where everybody was talking at the time about airbnb arbitrage or airbnb co-hosting, i was like, well, i'm doing the same thing with cars. Like if you have an extra car That's just sitting in a driveway not making you money, okay, well, look, how about this? you ship it down to me, i manage it for you. I'll send you a check the first of every single month. Um, if you ever need the car, just let me know a couple weeks in advance and you can have it back.

Speaker 2: But I did that, um, for a good amount of time and I started to branch off of toro because toro was just taking way too much profit Where it was still making me money or still make my investments money, but it was like yo, y'all making double the amount that we're making. And I started to dissect, like what they was really providing me. You know, ladies, providing me was marketing and assurance. So I'm like, okay, yeah, how can I get the assurance aspect? I figured out how to do commercial insurance and then marketing. I was just leveraging my social media where I can put up a car on a on my stories, my instagram stories or my facebook feed, my facebook feed. It's like hey, i got this car available next thing that was going.

Speaker 2: Um but now I'm here in Atlanta, so I'm just rebuilding, so I've got rid of all my cars. We currently just have Nine in the fleet here. Um, and rebuilding from ground up to start the journey all over again.

Speaker 1: Wow, it's interesting That's. That's a cool story. I love the the toro concept. I almost did one with boats because I noticed that I could buy a used bass boat, specifically fishing where I live, for five grand and rent it for 400 a day by the way, people pay big money for that. So I ran into the problem where I couldn't get insurance for someone else to drive the boat. The only way I could do it is through boats setter, which is like toro for boats. But there was no demand for my area. So for me to make this work I would have to go out and find my own customers, go through boats setter, so there's insurance, pay them a big rip and then the the customer journey. I'd have to get them to create an account with this third party company before they could do business with me, so it kind of died before it started. But I was starting to build up a fleet.

Speaker 1: I think there's a lot of a lot of a lot to be said for the short-term rental business outside of just Houses. There's a lot of things like even equipment rental. My cousin down in florida, uh, works as a sales rep and a business development manager for a big equipment company called equipment chair and he makes Crazy money because there's such good margins when you rent the same thing out every single day. And even in my bowling alley that we own, uh, we make like, i think, three to six thousand dollars a month Pretty consistently, depending on the season, just from running bowling shoes That the owner that I bought the business from bought probably 10 years ago. So I was, i really like the rental business.

Speaker 1: That's why I wanted to ask some questions about it. So Let's get towards more of the consulting stuff. You've been helping business owners start or get everything Kind of up and going around their brand kind of using your skill sets. So, if I remember correctly, in our facebook group, which I'll put a link in the description If you want to join our private facebook group for dealmaker weekend you are asking questions around How do I specialize in consulting for equity and how can I do kind of the same things that you're doing And helping business owners but Get them to pay me by giving me equity in their company instead? So is that kind of the direction you want to go for this conversation?

Speaker 2: um, yeah, so that as well was like I started to learn more about myself and see like I'm. I don't need to be a face of a company, but the ideas that I have can actually help companies grow to a vast amount, and that's why I said, like the way that I do consulting was always just Friends calling is like you know, reese, what do you think about this idea? I was like, no, don't do that, do this, this, this, this, this. It will always work out in an amazing way, but I just never knew That.

Speaker 1: It was like a thing, Yeah, it is a thing, but I think for you, before we dive into exactly how to accomplish that, i think you have to know what you want right. Having 10, 20, 30 of all these different companies Could be an extreme headache, especially if they're much smaller companies, more in the startup phases, and specifically if they're your friends too, because sometimes friends doing business together can end friendships. So I think you got to think about what you want Before you start asking for equity in somebody's company, and you also need to understand what that buy box looks like, just like in real estate. But for you to be interested in asking for equity or taking equity in a company rather than just helping out a friend Or taking on a consulting client, i think the best people who do consulting for equity do both.

Speaker 1: Somebody who's already a full-time consultant, somebody who's already helping business owners. That's their passion, that's what they love to do. They're fulfilling a huge need. Maybe do both right, because some deals are going to be perfect for consulting for equity, some deals you don't want to touch that at all because it'll be a big nightmare, won't be worth your time, right? So maybe we can dive in that a little bit deeper. Have you considered a buy box. Have you looked at that? Do you want to go through the exercise with me here live? I'm happy to do that.

Speaker 2: Yeah, we can go through a lot of I. I made one Butto's more just for the regular aspect of purchasing a business Like the things that I'm interested in. As far as consulting for equity, I never really thought about a buy box for that in person.

Speaker 1: Well, let's do that. I can share my screen. I have some of my slides from when we were at Dealmaker Weekend and I teach about this all over the country, so I can just share my screen and let's look at these slides a little bit and then let's walk you through that process. So, just like in business acquisitions inside the Dealmaker ProterJ program for the type of businesses you're trying to acquire, everything translates just about the same way for consulting for equity. But I think, since you're exchanging either your knowledge, your time, your expertise, your ability to predict change and make change in the business for equity instead of just buying it as an investor, it's a little bit more personal because you have to choose your battles and what you want to sink your time into. There's also going to be a lot of different industries that you probably won't want to touch at all because of your experience in the past and you're like I've worked in that and it doesn't really work well. Let me tell you why You need to know that right out of the gate. So can you see my screen here? Yes, yeah, so we'll just look at my slides a little bit here. On consulting for equity, maybe I'll expand it out And your buy box around. This is really the criteria. I like to think of it pretty easily as in the criterion which, that you would want to pursue a deal where, if you had someone come to you like, hey, let me pick your brain, hey, i want to see if you can help me with this, or hey, what would you do if you were in my situation? When would it be appropriate for you to open the conversation around, maybe working together as partners and you having equity in the company in exchange for doing what you do right? So I think about for me, i need to understand what does this business really do? Is it a specific industry? Does it serve a specific customer? Is it going to be really a pain in the butt if it's across the country? Would you rather stay in your local area or maybe up in New Jersey, where you have all these connections and maybe you still go and visit a lot, right? Is this a B2C or a B2B play? How does this business get customers? now For me, i also look at several other different things, and it's all based off my personal experiences.

Speaker 1: So I think you got to start there and understand, based off of all the businesses I've helped. There's going to be some that you really enjoyed the process, some where you're like, i mean, it's like taking candy from a baby. It's so easy to grow this business And instead of helping these other people make all this money, i'd like to participate in the upside. So I think, understanding exactly from your experience in consulting which businesses are going to be able to knock it out of the park where you can make a lot of money and there's almost unlimited potential on upside. So for me I have something called the Fab Five.

Speaker 1: For me, i like high ticket, i like high margin. I like to have a nationwide or worldwide audience. I like to have people when I'm doing my marketing, whether it's ads or whatever. I want it to be really easy to target these people. I want a big audience that I can pull from rather than just a small audience, because going after customers and doing the marketing it costs a lot of money. A lot of money. It just costs per 1000 impressions or CPM on ads if the audience is too small. So that's what I like to do.

Speaker 1: And then I also like to be in a business where it's very value driven, it's not price sensitive, people aren't looking for it to be on discount and they have that 10x satisfaction rate on the money that they spend with you. So that's really my buy box, and the way to kind of define the buy box is really focused around what you've experienced and what you like. So if I stop sharing for a second and I said to you you know, based off your experience and the stuff that you've done before, if we were developing this buy box live right here. Let's start with this Is there a scenario where, if you had someone come to you and said, hey, i need help, i need to pick your brain, can you show me how you did this? Is there a scenario, specific industry, a product, that you can just blow it up like it's as easy as can be?

Speaker 2: Definitely the car rental business right now.

Speaker 1: There it is.

Speaker 1: So, how much more natural and fun is it when you can say hey, not only can I help you, yes, you came to the right guy. Number two why don't we accelerate your growth? We'll partner together? Right, i'm not asking for everything here, but instead of me coming in and you paying me for my time and energy, i'd rather win with you. Why can't we partner on this together? You've already seen what I've been able to do, right, so maybe that's a great opportunity. To start is talking to someone at that level, right. And the big thing, though, is are you getting people approaching you around that right now? Do you have any people who are maybe investors in the groups that you're in or saying hey, i've seen what you've done over here. There's no reason why I couldn't do it. Where I live, we have a lot of demand for car rentals. Can you show me how you did it? Do you have people right now asking you that?

Speaker 2: Yeah, those would be more of my students. A mentorship, teaching people is actually all of those things.

Speaker 1: Okay. So maybe there's a partnership program available that you can launch where, hey, you want to triple your life, you want to triple your likelihood of being able to make this work. Do you want to be able to accelerate your success? Do you want to build a larger fleet faster? Maybe it's better to own half a watermelon than a full grape. Why don't you partner with me? Let me plug in what I do into your business when I'm already teaching you, and let's greatly accelerate this journey together, because it's a little bit of a strange dynamic when you're already coaching these people, but it could be an upsell, it could be the next level, and then there's probably also students that you'd really like to work with and other ones that maybe they're great, but just not your cup of tea, right? So I think, choosing your battles there, other things besides what you're already doing in the car rental business is there any other types of businesses that you've seen yourself help a lot? Is there any local businesses that you've helped have done really well? Like, what are your biggest success stories?

Speaker 2: I would say real estate is just. I hate it, but I'm naturally good at like negotiating and talking to others and getting contracts, but it just if you hate it. The answers stay away.

Speaker 1: That's my opinion. If it's easy to you, but you don't like it, don't do it, right? I'm great at real estate, great at real estate negotiations Shit, i was great at waiting tables, but I ain't going to go do it. I'm not like that's. That's the thing. So I like to think of it. That way is for your buy box. It needs to be fun, it needs to feel like it's not a drain or an energy suck, right? So I wrote a book.

Speaker 1: I wrote two books on real estate marketing back in 2012 and I wrote it because people kept coming up to me and asking me questions How did you do that? How'd you sell 100 houses? How did you? and I wrote it so I didn't have to answer those questions. But what I found is it got me even more attention. So I think if you go and try to scratch that itch at any level and help people, it's just going to get even more time consuming And if it sucks in it the energy out of you, you don't like it. I would wave off If your passion and your focus has been around car rentals and you have a great coaching program. I would just do that, because if you ever heard the saying that you do one thing a million times is so much better than doing a million things one time. You know, it's just allow you to specialize And I think that's going to allow you to scale your efforts a lot.

Speaker 2: So you go even with car rentals, and I think that's what makes me feel like I don't want to say I actually hate the car rental side of it. I just love cars, like I love being able to drive any car I want. I love the marketing aspect that gave me. That's why I continue to do it. And same with you, like how so many people kept asking questions. I got a million or one questions And that's what made me write like a digital ebook and make it the course Because, like where I'm met in my life, i'm trying to trying to reach the next level of my potential which is going after bigger things.

Speaker 2: So I guess, out of all things is like I will be more in the coaching space teaching people to build their businesses in general, or Sure, i'm not sure. Yeah, that's a great question.

Speaker 1: Let's go back to the slides for just a second and I'm going to go over here a little bit, and I want to talk about two different things, right? So number one what do business owners really want? Can you see this? Yeah, business owners really want and coaches and online consultants like we're talking about currently they want more money, they want more profits or better margins. They want to spread out the risk, so they're not the only one holding the bag If it doesn't work. They want more of their time back. They're stressed out. They want to relieve their stress. They want to expand into new markets. They want to add additional products. They want to add more redundancy layers the way they sell. They want to grow. They want to hand off responsibility. So, at any level when you're doing consulting for equity, i think understanding what the end user, which is the business owner, really wants I think it's powerful to keep that in your mind. And then some other things to think about is there's a lot of different options for consulting for equity.

Speaker 1: There's a lot of different ways that consulting for equity can come into play. So if we go back to your example now and say, all right, i just got really good at something. Number one. number two I wrote an ebook about it. Number three I started getting a lot of people asking me questions and that showed me there was demand to go and start a course and a coaching program. And now I've got these people that I'm coaching and teaching how to do what I've done successfully. You know what? There's a lot of people out there that have done that exact same path And maybe your consulting for equity play is helping those people do the same thing that you did. So maybe find somebody who's a brilliant operator, brilliant technician. They've learned how to do something really cool. You're able to determine there's a lot of demand around it, but they don't know how to monetize that demand. So maybe that's your play right.

Speaker 1: But one of the things I want to go over real quick is on consulting for equity. There's lots of different ways you can get into someone's business. Number one maybe they have a major problem in their business that they need solving. Number two maybe this isn't for you but for somebody else watching this. Maybe you can really leverage the amount of time you have available And maybe a lot of the ambition. You're very eager to learn and eager to help somebody. Maybe you want to niche into something, go find somebody who's doing it at a really high level and help take over some of their responsibilities in their business so they can exit the day to day. It's a great way to do it.

Speaker 1: Somebody else this is more like you Somebody who says, hey, i've seen what you've done, you've crushed it. It was really cool, you were able to take this and turn it into this. I want you to be able to do that for me, and I think that's probably going to be your biggest play And just selfish plug here. This is exactly what I do. A lot of people come to me and say, hey, i just saw what you did. Wow, you blew that business up. It looked like you did it really easily. How did you do it And can you do it for me?

Speaker 1: And at that point I'm able to put my hands up and just say, hey, right out of the gate, happy to have that conversation. Yes, i most likely could do that for your business, but I want you to know I only work in businesses that I'm a partner with or that I own. So as long as that's the direction you want to go in, happy to have that conversation right. So I think in this position, if you go back and you talk about what you're doing now, what you've been able to accomplish from figure out how to do something that makes money write an ebook, create a course and start coaching, maybe that's your play, maybe the idea of being able to help somebody, maybe create a method around that, give it a unique mechanism, a unique name, and then go out there and find people who want to do the same, and I think that would probably be a very powerful thing for you to start with. Does that make sense?

Speaker 2: Yeah, that makes perfect sense.

Speaker 1: Is that in line with what you were thinking?

Speaker 2: Yes, So I'm more like down the path that I generally just want to help people Like I want to help them on their purpose, their passion, whatever is driving them in life to reach their highest potential. That's what gives me energy.

Speaker 1: It's like seeing other people. It's like yo.

Speaker 2: that was amazing Like that gives me the energy to keep going, to keep pushing, like it just makes me hype.

Speaker 1: And that's what you need to do. I mean going after real estate agents and helping people like that because they're good at it. this doesn't mean that's what you should be doing. If this is what fills your cup, this is what gives you energy, this is what makes you wake up in the morning and be excited to do what you do, rather than dread it or do it because you have to, and that seems like a good path to me. But if I could teach you something real quick learn from my mistakes.

Speaker 1: You need to take on fewer projects rather than more, because you may have tons of people wanting to work with you, but take on one or two projects at a time maybe one at a time to start with, and really dial it in. And when you're doing the type of work that we're talking about and consulting for equity, it's not fair to the new partners that you just ask to trust you and give you part of their company. If you're not able to really focus on it and get them where they want to go, they'll start getting resentful. They'll start getting remorse around the whole situation. So just make sure people don't look at you, once you start taking equity on people's businesses, as in somebody who's just getting equity and then that you forget about them or you don't give them the attention they need. So I think I haven't done that, but I've seen it done a lot. So if you can learn from that, just be very selective. And the other thing I would do is I would look at the total upside of this business. right, you can help all these different people and you want to, but you can't help everyone, right? So I would look at businesses that have a lot more potential, businesses that can get a lot bigger, where you both can win at a much higher level, rather than take on a couple of businesses that kind of have a lower ceiling, right? So that's why, when you looked at my buy box, i take it high margin, nationwide or worldwide audience.

Speaker 1: very easy to target 10X satisfaction rate. What else is not in there that should be is just unbelievable amount of demand. People want, people have to have to already want it, already need it, right? So sometimes you meet people who have a really cool idea or business and somehow they made it successful, but nobody else gives a crap about it. Nobody else thinks it's really a problem. So just make sure you're really testing demand and see how many people really want this, how many people really want to learn this, like.

Speaker 1: so, like business acquisitions. working with Carl which was a consulting directory deal and we're partners now there's unbelievable amount of demand Like everyone wants to learn how to do business acquisitions. M&A is probably one of the hottest, if not the hottest, sector in learning how to do things in, like online coaching. So for me that's a pretty sure shot. I know, if I put all my focus and energy in this business which we did at 10X together with Carl as partners I knew it could be very fruitful. Compared to what if I went back to that scenario and said this looks cool. I think a lot of people want to learn this.

Speaker 1: but as big as it can get, the market's just not that big for it. It's not going to be the home run that I'm looking for. Like just say pass, and that's what I get. a lot I get a lot of people come to me and they're like hey, i saw what you've done, can you come help me? And I have to look at it and stare at it and say, okay, number one, how big is this potential offer? How big could it be? How many people want it? Is it a big enough audience where we can really target these people really easily? Is it solving a big enough problem in their life for them to say, hey, i would have paid 10 times more than this for what you taught me, because this changed my life. Like, if that's not there, i don't touch it, right?

Speaker 2: Question for you on that part, like if this doesn't align with your buy bucks, would you just do a consulting for a fee for that individual?

Speaker 2: And if I have time, but usually not, okay, i'm saying, and to add on, i do you because every one of my mentors. So it's like if you are doing consulting for one, it should be a very, very high price. If anything, just do consulting to many or talk to many. So if I am majority like, i'm learning more and more that majority of businesses all operate the exact same. It's just the product that they're selling may be different, but business in general is still the exact same across the board.

Speaker 2: Yeah, business in general And if I get 10 people into a room and train all of them on consulting for a fee, they'll be beneficial to everyone in that room versus just talking to that one individual.

Speaker 1: Yeah, you can do that, but it comes down to what you wanna do, right? Do you wanna do two or three projects and make a ton of money? Or do you wanna just stay in the coaching space where you just collect a group of 10 people who all need help and charge them $10,000 each for a three month course and make a hundred grand every couple of months?

Speaker 2: What's up? I said I'm trying to make a shit ton of money.

Speaker 1: Yeah, so I get it, but you still gotta choose your path, right. So are you looking for one big win or a couple big wins? Are you looking for a rinse and repeat strategy on just how you can consult, maybe one to many versus one on one? Like, i do think it depends. I think where an equity comes into play is when you see a potential large exit right, so you don't need to go get equity in a business that's not gonna sell. You're not gonna need to go get equity in a business that's not positioned to sell. Even if they wanted to sell, they couldn't, because maybe they are the whole business, right? So I think if you do consulting for equity, part of the questions you ask up front is like, when do you intend to sell this business? And you can tell them, like, the only reason I would really wanna be your partner in this business is so I can grow it with you. Both of us can win all the way along the journey. But also, if it sells and when we sell, i wanna have the end in mind. I want a big cash out, i want a big amount of money, right, be fully transparent And you could say hey, i've helped a lot of people make a lot of money.

Speaker 1: I've helped a lot of people grow their businesses and what I don't wanna do moving forward, in which I'm not doing moving forward is I'm not focused on making other people rich. I wanna win too, and I wanna win with you and I only take on a very small number of projects and when we work together we're partners. That's how I approach it and I like doing it that way better than I like just coaching people, because I have made a lot of people a lot of money and I got tired of it right, but at the same time I say no, a lot Like I say no. I think it's like 30 to one, because I know what it's gonna take for me to get what I want and I also understand like. So when you got skills like you do and I do, i'm gonna make money. Anyway, you can be real with you, i'm gonna make money. I'm gonna make a lot of money, no matter what direction we go in. So I wanna be very intentional about which way I'm going with what I'm choosing to do.

Speaker 1: If your passion's more on the teaching side rather than maybe a project oriented person than maybe just doing consulting and getting 10 people every quarter to pay you 10 or 20 grand and just really dive into those people and just seeing them blossom and take what you taught them and put it to use, fill as your cup. Great, maybe you can do that. And then take your top students you like and then say, hey, can we work together moving forward? I'd love to partner with you on this business. Maybe that's a great feeder for you to be able to learn more about them and get all that know, like and trust and mentor these people before you become partners, and there's all kinds of ways to do it. So I'm just trying to give you some different ideas and thoughts around how to choose which battles that you decide to take on.

Speaker 2: Yeah, i think I like that path getting them into a consulting coaching program and then, as I'm like consulting and seeing their business talking, potentially just like, hey, you might as well just partner on this.

Speaker 1: Yeah, you can say it's also very exclusive, like, hey, i coach a lot of people. I think you're really sharp, i really like what you're building. I'd love to have the opportunity to work together And most of the time those people are gonna be interested in that. And as long as you have the right intentions and you want to actually make sure it's a win-win, then I mean it's just a home run right out of the gate. What else is cool is you teach people like I do.

Speaker 1: A lot of people don't take what you teach them and implement it all. A lot of people just learn it and never use it. Some people just wanna have the knowledge in case they're gonna use it. Some people just make excuses and, no matter how much promise they have in the world, they never take action right. So for you, you're almost filtering these people, making sure you're not working with a dud. So maybe that's a good path for you as well.

Speaker 1: But the one thing if you're gonna do that and you're gonna be an online coach at that level gotta figure out a way to decommodiatize what you do. You wanna make sure that you have your own unique method, even give it a unique name. If you study Todd Brown as his E5 method. I encourage you to go look at that. That's who I learned a lot of the marketing stuff that I've learned from is he talks about a unique mechanism, a unique benefit.

Speaker 1: The way you do it has to be positioned differently, and I think that's gonna be a powerful thing for you to be able to differentiate yourself in the marketplace, because sometimes coaches have a bad rap because a lot of people who can't do they teach. And I think as long as you do two things. One, make sure that what you teach is bulletproof and tested and you really differentiate yourself. It allows you to sell and market yourself a lot easier. Number two I would continue to do the entire time. So, whatever you're coaching and teaching, keep doing it as well, because it really layers the credibility and adds on to that And it combats anybody who says, well, this guy's real smart, i love what he's saying, but what's he doing? Like I don't see him doing what he's teaching and that makes me weary, right. So I'd encourage you to keep that in mind as you move forward.

Speaker 2: Just some thoughts, kinda side thoughts, yeah yeah, that was one of the main reasons like why I didn't really want to be one of these big and then that grooves or whatnot, because if I ever get to the point that I'm making more money off of y'all than my business, it scares me Like I don't really want to do it anymore.

Speaker 1: Yeah, but I think it depends on where you are in your life, right? So how old?

Speaker 2: are you right now 30.

Speaker 1: So 30 years old, i'm 37. And then someone like Carl my partner's in his 50s. He's at a different stage in his life, right? Sometimes you want to do and you want to go and see and you want to act and you want to have all this success. But maybe when you're in your 50s, let's fast forward 20 years for you. You may say, hey, i'm tired of doing this. I just kind of want to retire and just teach for the rest of my life. There's a lot of people that do that. Right, it's just like a ball player. Let imagine you're. Are you a baseball fan?

Speaker 2: Oh no.

Speaker 1: No basketball fan.

Speaker 2: I stopped watching sports once I quit my job.

Speaker 1: Let's just assume you're a basketball fan for a second right, somebody like LeBron. He's going to stop playing at some point and he's going to want to still be around the game and he's going to want to coach. He's going to be a commentator You see it everywhere Like Tom Brady just got a bigger contract than he did when he played and won Super Bowls to be a commentator, i think, on Fox Sports. Like sometimes, when you're really, really good and you're a professional at what you do, when you're tired of doing it all the time, you still want to be around it. So maybe transition the thought process a little bit and don't say I feel like if I'm making more money off coaching you how to do it than I'm doing making off of my own business, maybe. Maybe save for now, but later I think you're going to want to coach more and do less.

Speaker 1: That's just part of kind of the evolution as we get older, right? Carl's kind of the exception. He is almost like he's like the ageless wonder. He keeps buying businesses anyway And we've got six rollups going right now, so many businesses that we have our hands on that we're acquiring. You know he's doing both, but I think in that type of market like we're in a business acquisitions you have to stay ahead of the curve because there's so many things that rapidly change. You know financing strategies And I think the more that success that we have as individuals acquiring businesses, the more that we can pass on to our students. So I admire that, yeah, so back back towards more of what we're talking about here.

Speaker 1: So, consulting for equity you've got a coaching program. You're teaching people how to create these car rental businesses Toro or off Toro leveraging social media, how to get cars, how to almost do it in an arbitrage model like the Airbnb arbitrage or co-hosting, where you can almost take the property management model and help people monetize the stuff sitting in their driveway. I think that's super cool. If there was more demand where I live, i'd be asking you if I could buy some cars. I'd probably asking you what cars should I buy? which ones rent the most? There's demand every city. I'm gonna say that I live in an area in rural Alabama with 16,000 people.

Speaker 2: They got overeats in Grubhub.

Speaker 1: We got DoorDash, that's it.

Speaker 2: We don't even have a chicken, we don't have God's chicken yet.

Speaker 1: We're getting God's chicken soon, but Yeah, like at the neighboring city, huntsville, where I have some businesses, i'm sure there's a lot more demand there, but I think that's cool because that goes back towards creating cash-silling assets that work when you're sleeping, right. But I think that's a cool play for you. I think you can team up with the people and make partnerships out of your best students and help kind of facilitate and put fuel on their fire. The one thing to do with consulting for equity is all about setting expectations as well. So, like when you're partnering with somebody and depending on what you're bringing to the table, you have to make sure everyone's expectations are fully aligned up front. Otherwise there's gonna be a lot of resentment later. Have you dealt with any of that yet?

Speaker 2: And my real estate business.

Speaker 1: Yes, with partners. Yeah, like well, why am I doing all the work? Why aren't you doing the work Like we're partners? yet I'm doing all the work is what it feels like And that's a dangerous position. So I would encourage anybody watching this or anybody going after consulting for equity deals in this style. If you're really just adding the wisdom and you're plugging people's businesses into your resources and your network, just make sure you have full expectations of what you personally are going to do or not do right.

Speaker 1: So one of the partners we worked with was kind of a consulting for equity deal brilliant high-level digital marketer and he continuously reiterates to me that his value and his efforts in the business are more focused around being potent and not having to really be in meetings all the time, but instead show up to certain things, have certain mentoring sessions with me and be extremely potent so he can have as much impact as humanly possible in a short period of time. And I 100% respect that, 100% agree with that and it's working really, really well Compared to imagine if he didn't set that expectation up from the very beginning and he took on, you know, the level of equity in our business as a consultant to help us take us to the next level. But I felt like, well, he's never here And I never see him or he doesn't show up to all my marketing means. But he set the expectations correctly up front. He set the parameters of how he wanted this to work together And I think you got to learn that lesson too, right? So for dealmaker Wells, the side of Carl Allen, i stepped in as the COO.

Speaker 1: This is my full time thing. I own many other companies around it And for this particular relationship, i had set specific expectations that I'm going to be in the business And this is my full time focus. Right, the businesses that I own outside of this. I have to tell them like, hey, this is how I'm able to help you, this is how I'm able to add value, this is how I'm going to help you grow and scale this. These are the resources that I'm putting in the business. But I want you to be fully aware that it's not my intention, nor do I want it to be your intention, for me to be at every single meeting. I can't be the person who trains them every single week, like I had to pretty much position what I'm willing to do and what I'm able to do in lieu of that equity. So if you don't do that, unspoken expectations always ruin relationships. So just going to say, if you can learn anything from what I've done and from what I was talking about, my other partner learn how to set proper expectations up front. So no one's disappointed, because I know that that has been something I've seen some rookies do.

Speaker 1: People messaged me as like hey, i landed a consulting brekkley deal. I'm like, okay, great. Well, what exactly are you bringing to the table? And they tell me. And I said what expectations does your new partner have on your availability, your participation? And then what kind of KPIs or key performance indicators are indicating that you're providing the value that they're adding that you said you would provide in lieu of equity? Like, oh, i didn't talk about that. I'm like, oh, my gosh, this is going to be a nightmare. So I just want to make sure, if anybody's learning from me on how to do this, that they're setting themselves up for success and they're setting themselves up so their partners can feel at ease and they have the right expectations. Otherwise, it's a shit show.

Speaker 2: So Question for that. How would well one? you said you own multiple businesses, right? I'm assuming like the language is similar in each business. How do you communicate across your teams to get that message across? Because, like, in the very beginning, you wasn't only focused on deal makers, a deal maker society, you had your other businesses. So, like, how was you separating your tasks from those?

Speaker 1: Yeah, so go back to the E myth. Have you ever read the E myth by Michael Gerber?

Speaker 2: I do.

Speaker 1: Read it, it's very powerful, right? So the E myth concepts are simple It's the technician, the manager, the entrepreneur, right? So when the E myth talks about what it takes to be successful in business and it talks about why businesses fail, right, and the biggest part of that is there's got to be a separate person doing each role technician, manager and entrepreneur. So in all the other businesses that I'm a part of, i'm already out of the business, right? I'm already at the investor level where I'm not having to be the one doing the work, i'm not the one managing the people doing the work, i'm not the one that's fully focused 100% of the time on growing the business and being the visionary, but instead I've already stepped up where I'm just one of the owner investors, right? So I'll give you an example in my Ninja Warrior gym. So Clayton and I and my buddy Joe and Brett, we started that gym And now it's just me as a partner and then my two partners who have been operating that business for the last six years.

Speaker 1: We're the only ones still in the business, right, and I'm not in that business day to day at all. I'm not in the business at the point where I know the employee's names. I can walk in that business and I literally see people I don't even know who they are, right. So that's kind of the business owner that I've been. I've been the owner, investor, and the way that I choose to do businesses is I want to have businesses across the table where I'm just the investor, just helping the visionary, just leading the leaders, just developing my partners, and then I have one business that I have most of my focus and time into. And then, if you look at my full suite of portfolio right now, which business has the biggest potential upside? Which business pays me the most money? Well, obviously it's the one that I put all my time into right And there's a reason for that. So when that consulting-frequity deal and now we're partners in it and I make a pretty tremendous amount of money, that's because that's the business I chose to put more of my energy And compared to the rest of these, they're almost like your Toro fleet where it's passive income, right. So the profit distribution I get from that business or that business and that business, what I provide to them I've set full expectations is we're going to meet these certain days, we're going to look at financials, we're going to talk about impediments and issues you're having And I'm just focusing on leading leaders and that's really the same thing.

Speaker 1: So for me, it's tough to really do several things good at one time And you're thrashing and you're always changing your focus constantly. For me, i'm doing the same thing in every business. So I'm talking to Justin or Melissa, manager of Warrior Gym, and we're talking about how to develop them as better leaders and how to develop them as better business people and how to maybe get that business position where it's worth more money. I mean, it's the same conversations I'm having with the real estate. It's the same conversation I'm having with the other coaching company I own. It's all the same conversations. So for me it's just like a general leading for kernels. That's how it feels for me.

Speaker 1: But imagine if you had a full role in two different businesses at the same time. That would make sense. It would be thrashing, right, because you're giving two different versions of yourself. You're changing the way you have to think in your brain and that can get exhausting, yeah, yeah. So when you're coaching in a coaching program and then you have some of the partners, you partner with some of the people you're in the coaching program, you're still coaching them. All you're doing is coaching them at maybe a more intimate level and you're their partner, but it shouldn't feel any different, gotcha.

Speaker 2: Now how would I best better myself? to actually just be a better consultant, like in the realm of business.

Speaker 1: So the best way to be a really really good partner is to be a better consultant.

Speaker 1: A really good consultant is to specialize, because I think any consultant that says I can do it all, i can help you create your brand, i can help you do this, i can help you do that, i can help you market it, i can help you hire Like it's just really tough to really really dive deep and be really good at one thing when you're so diverse like that. So I think, to be a better consultant, you get more and more specialized and niche, and I think that'll make it a lot easier for you as well. Yeah, because you're solving the same problem a million times rather than solving a million problems one time each, and that's the same concept I said earlier Just allows you to really niche in. So if I would say, hey, i'm a consultant, i would be really specific. I help blank type of business owners who are struggling with blank get to blank using my proprietary methods, and that's what I'm going to teach you. Like I would be very, very, very specific And I think it's what's up.

Speaker 2: No, i was saying the X, y, z statement. Yep, i had to make that for my other program.

Speaker 1: I think that's the power of it, though, because think about when you're new in business and new and consulting, and you don't have a lot of clients. You want to help everybody. You'll help anybody who's got money to pay you. Then, over time, it starts thrashing, and then you're so busy doing consulting you don't have time to go out and find new clients, and then you've got to have leverage. There's other ways you can do it. When you're teaching the same thing to everyone, you can do a one to many coaching, which is kind of like what you're doing now, compared to when you're consulting everyone uniquely about their business. You have to put a lot more time per client, so your earnings per hour will go down that way. So that's why I say specializing is better. So if I was teaching 15 gym owners how to transform their offer to have higher attention and be able to have their new gym sales to be on complete autopilot, using my proprietary method, i can teach 10 owners all at the same time. That's a lot more potent for me and I get a lot higher earnings per hour as compared to if my offer was hey, gym owners, i will help you completely revolutionize your gym, every one of you struggling with something different. If you're having issues recruiting people, i got you. If you're having issues with retention, i got you. If you're having issues with renegotiating your lease so you can have lower expenses, i got you.

Speaker 1: Like that's going to wear you down, it's going to run you ragged. You've got to be great at so many different things. You've got to be in so many different places at one time. You have to get in and triage and do a discovery session to figure out with every client how you can help them. But instead, if you specialize in that one thing, your earnings per hour skyrocket.

Speaker 1: So for me, if you say, how can I become a better consultant? I would be more focused on specializing and being the best of the world at this one specific thing and then only find people that need help with that problem and turn down the rest. That's what I would do. Got you. But once again, that's a consultant's game for somebody who's a little bit more mature in the business, somebody who's not in the survival mode where they can take they'll take money from anybody who can fog a spoon. You know it's a different game If you're brand new and you're just starting, definitely niche, but I mean sometimes it's a little easier said than done, and I get that Definitely easier said than done.

Speaker 2: Yeah, of course I don't know what to even niche down into And that feel like I know the concept, I know what I should be doing, but, just like I said, it's easier said than done. Like I tell people this all the time, it's like you have to niche in your the genre of like what you're teaching these people in the first place, But I don't know how to do that myself.

Speaker 1: I think you're already doing it, though I mean step one. It comes up. I look at it very easily Like if you're a consultant, my biggest question to you is like, why are you teaching this? What wind do you have that says you're qualified to teach? that That's one of the things that I don't quite understand with a lot of people. But you've done some good stuff. You have some notable wins. You've built this business. Now you're teaching other people a niche into that. Focus on that one thing. Let's say you went out and you were able to do this one thing for this business owner And it blew up his entire business and that one thing unlocked all this potential. Then figure out a way to display that in the testimony or a case study and then leverage that and just focus on just doing that one thing for people and coaching people in that one thing. But I think it starts with this. It starts with wins. It starts with Inc 5000s and Inc 500s and all these. Like it starts with wins.

Speaker 1: When you consult for somebody, you teach somebody. You got to start with saying, look what I did, look what I did. I can do that for you, and that's why I'm a consultant, rather than where people get lost. A lot of times they want to be a consultant, but they haven't hit a home run yet, right? But for you, you've done some really, really good stuff. You've built some cool stuff. You have indisputable evidence that this works and you're helping other people do it. So instead of trying to figure out what I'm niching into next, focus on what you're niching into now and then figure out What you could be doing to hit the next home run so you can maybe get to the next level. So say, you really like the marketing side, you really love that IG and Stories and all that. Go hit some big home runs in the Instagram world, get you like. How many followers do you have now?

Speaker 1: About 7,000 so say, say, yet 7,000. But, even more impressive, say I was able to turn my 7,000 followers into $600,000 in revenue in one year and I can teach you to. Here's how I did it. Here's the proof. And here's three other people I helped.

Speaker 1: Like that's a niche consulting business, right. So get really, really good at one thing Be able to display the indisputable win point at the trophy point, at the case study. You a little leverage that and say I can do the same for you. Like that's how I think good consultants and good coaches become. Where it becomes easier, right, because the worst thing is when someone gets on a call or you're talking about working with somebody. They'll I will show me what you've done, and then you can't, and that's where it gets tough.

Speaker 1: So, instead of trying to figure out where I should be niching into, my biggest thing is let's go out and get some freaking home runs. Let's go get some wins that I can use as a launching pad or as, like, a stepping stone to get to the next level. So that's what I would be focused on, like if I called you and said hey, i can grow your business, well, okay, well, what have you done? Then I go like this. I Said I got a couple of these bad boys and I've got another one on the way, like, okay, well then we're in business. Right, they already. They already believe it. That's what I'm saying.

Speaker 1: So When someone would say, like I don't know what I should niche into, do what you do, do what you do best and then focus on being a better Technician for a while until you can predict success, then I would document my unique path of doing it and call it something really cool, and then I would offer to show other people how to do it the same way. But it's got to be legit, right? Does that help at all? it does, cool man. Well, hey, we're at 53 minutes. I've got to go here shortly. I've got several meetings, so any walk away questions here, and then we can kind of wrap this up.

Speaker 2: Yeah, last one, i guess how can I shadow you more? Like I really want to learn, like your process, your style, your strategies.

Speaker 1: Well, a couple things. So you're an ATL, i go to Atlanta a lot, you won't. You know how far away I live from Atlanta Two hours and 20 minutes.

Speaker 1: I'm around the corner, man. So I'm right between Chattanooga and Huntsville, right, so I'm gonna be Atlanta. I'm speaking at a Private like chiropractic mastermind at the end of the month. I'm gonna be there on the 26th and I'll be there. I've got two interviews like live podcasts like this in Atlanta 27th.

Speaker 1: So let's just connect. That's the biggest thing. First, number two I Think we just have to have some sort of schedule where maybe, when I'm doing something really cool I think you'll benefit from, or maybe I'm gonna have a negotiation For consulting for equity that I think you'd benefit from, you can just be, you can kind of shadow me on those type of calls. I don't offer that to everybody. I mean you're, you're inside our inner circle program. If somebody's watching this and They're not part of the program, it's tough for me to be able to Provide access to us like that when you're not. So you're already in it. So that's happy to do it.

Speaker 1: I help a lot of people. Just this past couple days I've had several people reach out to me. It's like hey, i've got a consulting for equity deal on the table. I'm having trouble with negotiations. How would you negotiate it? And I went through a 10-minute conversation because I don't have all the time in the world This is a Saturday but I went through a 10-minute conversation and unlocked like six different things that they haven't asked yet. That's gonna help them close that business and be able to do it, and There's just so many little things, so I'd love to spend more time with you. Happy to do it. We just got to have some conversations offline.

Speaker 2: We can figure it out.

Speaker 1: Yeah, and I'm in Atlanta all the time. That's because you know, abraham and Nitin are my partners too Has some other partners in Atlanta, so we go over there all the time So we can go to putt nation. You've been there yet. I haven't the last year I was?

Speaker 2: I was holding a conference, a credit conference, at the last meeting We just had last week. I missed the invite.

Speaker 1: Awesome. Well hey, if you ever need an investor on the fleet business, i'm always interested in that too. I. Love I love buying things that can rent out and make money, so I'm interested we could partner in something like that one day. Let's just chat about it.

Speaker 1: Okay because I think it's fascinating. I just wish there was more demand where I live because, like the idea of buying a car for 10 grand and like a nice car, maybe older but maybe even a luxury car, and Positioning it in a way Where people rent that rather than go into a rental car business is huge. So Jared, jared sits over there. You can't see him because he's not here right now but we're going to Vegas. We have dealmaker meetup Vegas on April 21st. Then we have a private protégé only session April 22nd and he's like Chris, i got to go to Starbucks, i got a Chick-fil-A. I got to go to Best Buy, i've got to like we've got to get a car. He's usually we don't get cars when we go to Vegas. I said alright. So he said Chris, they get a car for those four days. It's 1200 bucks. He said stupid.

Speaker 2: I got you. So then he said, alright, i'm gonna do Turro.

Speaker 1: So he got us a Yukon XL 7 seater for 600 bucks for the entire four days And we have a thousand miles that we can drive on it. I Love it. I think it's so cool. I was just at my other partner, chris Evans's house For meetings in January and I rented an escalator to her Just because Carl and I were curious and we just wanted to try it. So I think it's a fascinating business. So I'd be interested in that all day.

Speaker 2: Yeah, it definitely is just the Drop a gym for you, i guess, for like cars, um. So it was a great aspect of it. But when I was asking, like, do you have door dash over eats and and all of that? your neighborhood gig workers are way more profitable. So how you're saying like this, buy a car, that's 10000. The way I teach my students is if you don't have 10000, you have, i can get you 10000.

Speaker 2: Credit at 0% is 0% interest. So if we have a credit card let's just say chased, for example, they give you a credit card at 12 months, they're percent interest. We take that 15, 20, 30 thousand dollars, whatever it is, and only spend seven, eight thousand to go buy a car, very cheap car, so the Camry, ford Focus for fusion, and We give that to a person that literally is looking to do overlift, door dash etc. And what they're going to be doing is paying me 400, 500 dollars a week for that car. I don't care about the miles, i don't care about The damages, anything really, cuz the car is only $10,000 to me, which I will get back in the first Seven months, eight months after that, everything is straight cash flow.

Speaker 2: And the way I find those buyers or the the renters is Facebook groups, because every city has a Facebook group for lift over. Or Every time that you order Door dash, it's okay, you know anybody else is doing it. You got a friend? Oh, i'll give you 400 dollars if you friend them to me. I got a car for them.

Speaker 1: Interesting, and you can depreciate the cars on your taxes as well, as they're considered equipment, which is a full tax deduction anyway. If you run it to a business and then insurance payments are tax deductible, that's interesting. Yeah, got my wheels spinning, man. So, yeah, let's have a follow-up conversation around that. Because I could I could fund the purchase of quite a Few cars, and then the one thing that I'm best at over everything I do is lead generation. So finding people who are interested in certain things is like my superpower. So right, i Guarantee it. I also geo targeting airports and being able to get people alternative ways to rent cars directly, like all day. I could do that all day long. As long as there's demand, i can fill it.

Speaker 2: So let's talk them in.

Speaker 1: Let's do it.

Speaker 2: You never know what comes from these calls, so anytime you need a car in, like certain cities, like even outside the normal cars and cosmetic cars, we have them all over.

Speaker 1: So Alana, miami, houston, vegas not to be in Vegas, man, i'd love to have them like a Lamborghini for a couple days.

Speaker 2: I think I got you. We can get you here on the Eurus, the Aventador, whichever one you want.

Speaker 1: Oh, man, let's talk Well right here at the hour. Thanks for being on my podcast. Surges of income I think if you look at surges of income, the idea of being able to tap into consulting for equity deals, being able to get those business profit distributions as well as the whole car fleet business just a lot of cash flow from that It's a. It's an asset that definitely can continue to pay you over and over and over again, with probably some upkeep, probably some interaction, but in general, you can put a team in place. So this is definitely on the path to finding more surges of income and Increasing your net worth. So I think this is perfect for this conversation. We'll keep talking.

Speaker 1: I'll be in Atlanta later this month. Thank you so much. If it's your first time watching this, i would encourage you to like and subscribe. We're gonna start using the podcast feature I believe that YouTube's putting out So you can always go and subscribe directly to that podcast. But I appreciate your time, looking forward to seeing you in a couple weeks here in Atlanta and Thanks for thanks for being on here with me. Man, i appreciate you trusting me enough to have this conversation with you and I see you took a lot of notes and I appreciate that.

Speaker 2: Yeah, thank you for having me on and can start to me for an hour.

Speaker 1: Man, my pleasure, dude. Alright, we'll talk soon. Thanks again, and if you're watching this, I'll see you next time You.