It's her $750,000, not my $750,000. Yeah. That makes me very, very lucky husband. Yeah.
Acquiring Minds
One Year, 3x Revenue, and a Clear Path to $15M
Excerpts · 468 segments · ~1:33:18 long
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Good. Good for you guys. That's cool. All right. So you, and did you have any seller note in there? Yeah.
No, I did a 20% holdback for one year. So from the 450, 360K up front, and then 90K goes into escrow for holdback. He gave me one month transition labor, and then I pay him his hourly rate that we negotiated.
And he's a full-time employee, basically. It was a small business, so I did the due diligence. I did the quality of revenue and earnings and everything.
I checked every number that he spent since mid-2020, and, you know, I was all in the right pot.
Oh, wow. You went through line by line since mid-2020?
7,362 transactions since, like, October of 2020 until when I bought it.
Wow. Yeah. You really did learn something at your MBA.
Yep, yeah.
Okay. And why did you not want to just pay for a third-party expert to do your due diligence?
Kind of expensive. It was kind of expensive. Just because I have the money doesn't mean I just throw it around. Yeah.
Even in a project-based business, Enrique, where we know that those are the ones with the trickiest cash flow. Yeah.
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