Buy a $500K/Year Income Stream? This Is How to Do It
About this episode
The episode discusses how to buy a small business to create a significant income stream and achieve financial freedom.
What if, today, you could “buy” a $500K/year income stream? You could replace your salary. You could become the boss immediately and reach financial freedom faster. It’s not a gimmick, it’s not a scheme, it’s something much more boring than that. In this episode, we’re talking about how to buy a business, especially small businesses, with Acquiring Minds’ Will Smith. Will spends his days interviewing the overlooked, but highly profitable, business owners who do exactly what we’re talking about today—find a boring business, buy it, improve it, profit, and repeat. Even the small businesses Will mentions can earn their owners hundreds of thousands of dollars per year. So, how do you get in on it? Will breaks down who should buy one of these businesses, where to find businesses for sale, how much they sell for, the returns you can expect, and the best business types to buy. Dave is heavily considering buying a business to complement his real estate portfolio. And after this episode, you’ll probably be feeling the same. In This Episode We Cover DON’T build a business, buy instead: entrepreneurship through acquisition (ETA) explained How much small businesses make (they can replace…
People in this episode
Host: BiggerPockets
Guest: Will Smith
Topics covered
- buying a business
- financial freedom
- entrepreneurship through acquisition
- small business profitability
- investment strategies
Keywords
- income stream
- buy a business
- financial freedom
- small business
- entrepreneurship
- investment
- business types
Mentioned in this episode
Organizations: Acquiring Minds
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