And of course buying a business means also usually and as advisedly getting off of going full time in the business and quitting whatever W2 you have versus real estate where you can do it on the side. So this decision also represented a, a career pivot. How did you think about that?
Acquiring Minds
Buying a Platform with an SBA Loan
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Well, I would say that even when I had the self storage facility, I was working semi remotely and the facility was in Odessa, which was five hours away from my job in Dallas. So that looked like me trading mortgage backed securities from a shack in Odessa while I implemented the systems to make it remote. So one of the motifs in my career is moving to where I see the opportunity or where I think…
And the second thing was whenever you leave a W2, you have a lot of time on your hands. You don't 40 hours a week is a lot, but it's really closer to 60 or 70 hours that then you can reinvest into something that was certainly something that I was open to having already worked a decent amount of hours working in real estate. And the full time job, the, the full time capacity of ETA was not that…
Well, but I, I mean you were walking away from a career is what I meant.
Oh sure, but we can get philosophical. Effectively. The ceiling in my trading career was much lower than I saw on my own even before eta.
The ceiling of what you could earn or how far you could go.
Trading effectively at the end of the day is you see the markets move, but it is the same thing every day. It's what do I need to hedge today? How much are we going to sell today?
How are we going to react to this market move or this Fed move? It's in small business ownership growing and building something is a lot more rewarding. So it's effectively what are you getting out of your work as well as what can you earn?
So the combination of those two things pointed me to striking out on my own. It wasn't solely one or the other.
Great. Okay, so when you decide to buy business, how do you approach your search? Do you have criteria geographically? I know that's a, that's a feature.
We just heard you say that you're willing to move to where the opportunity is. I thought you were being figurative, but I think you were being literal. So uncheck all of how you approach this project.
Sure. So I was living in Austin with my now fiance. I knew I wanted to buy something big. So between 750 and 1.5 of EBITDA, that's a classic self funded searcher range.
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