$20m Net Worth After 25 Years Buying Businesses

So that was. Ended up being a bad situation. We ended up selling it, lost a little bit of money and we actually ended up buying it back like six months later at a lower price than what we sold it to this guy for and brought it back into place and ended up selling to somebody else. I did not like the industry.

Oh, I did not like the industry. It was, it was a very commoditized industry that, okay, this, this fence install was 20 grand and they got five bids. And if somebody was $20 cheaper than me, they went with that guy.

So I, I didn't feel like I could grow that business in a situation like that. So that's why I ended up selling it. I didn't buy it back because I thought it was a great industry.

I was a buy back more. How do I Re regain my initial capital infusion that I put in through this a long time ago and ended up even it's kind of a successful failure is what I call it. Is ended up walking away with more money than I put into it even though it was a bad three or four years.

Yeah.

And then, and, and, and, and and what do you think?

What was the key lesson learned there? Thinking that you were smarter than the seller? What say more.

Bought. Bought a company that I didn't understand. That's all there is to it. I didn't understand it once, once they separated that combined company and it didn't have separate financial statements.

I bought a company I didn't understand. Okay so fast forward. So fencing company acquired.

Acquired several others. And I know this is talk about acquisition. I started some from scratch too along the way it's been 15 plus companies acquired and or started.

But I will throw this out to you. So I've acquired 2012 companies and had one failure. 12 companies and one failure.