Can Buying An Existing Business Be Lucrative And A Good Model For Passive Income?

Hey, it's Mark Podolski, the Land Geek, with your favorite niche real estate website, www.thelandgeek.com. and on today's Art of Passive Income podcast, I'm really excited for today's guest. I'm not going to tell you. Today's guest is. I'm going to build them up first. So just stay with us because this could be the kind of podcast that changes your life. Scott Todd, my co host. How are you today? I can't hear you, Scott. No audio.

You can't hear me now?

I can hear you.

I am incredibly excited. I'm doing well, but I'm incredibly excited. I'm so excited. Like, I couldn't even talk.

I'm so. I'm so excited because, first of all, this guy's hard to get. Like, this is a get for us. You know what I mean?

He's elusive, man. Like, this guy, I've been. I've. I have followed him through my Shiny Object Syndrome. I came out the other side, but he was the reason I got Shiny object syndrome in January 2015. This guy right here.

So we're going to talk about this guy for a second. But before we do, I want to properly introduce my co host, Scott Todd from landmodo.com scotttodd.net and most importantly, if you're not automating your craigslist postings, postingdomination.com thelandgeek I'm gonna do one more plug. Today's podcast is sponsored by Loan Geek. Automate your seller. Financing with Loan Geek. No note setup. Fees. No note setup.

What's the website? What's the website?

The website's still in beta. LoanGeek IO.

Got it.

Got it. Email supporthelandgeek.com for more information. Okay, get going here.

So we can't wait.

Today's guest. Deep breath, everybody. Is Ace Chapman. Acechapman.com He is a business acquisition specialist. You've probably got an email from him. You've probably seen him in social media. He's everywhere. Ace Chapman. How are you?

What is up, guys? It is awesome to be here, man.

We are really excited to delve deep into what you do, which really gives all of us this shiny object syndrome, because we all want the ultimate business. And you see them all right.

Yeah, yeah. Every day. I just got off a call with a guy who's selling an Amazon business. But every day I spend time talking to sellers of businesses. And the neat thing about that is, is I get to see businesses on the back end, you know, after they've been built, they've made it through what I call the entrepreneurial gauntlet. And you know, they're only in. They have something that's valuable and it's, it's ready to be sold. So I go in, I meet with them and try to buy it.

So you're the one buying it, Correct?

Sometimes.

Okay, so sometimes you broker it and sometimes you buy it yourself.

Yeah, yeah. So 90% of the time, I am an investor in the deal. I'm not really a guy who just wants to broker. I get my value when I am participating in the deal. So people come to me and they want me to be an advisor because I've been buying and selling businesses for 17 years. And at this point, I did that for a while. But I quickly realized that the deals that I made the most money from are the ones where I didn't just go in and get paid to be an advisor. I convinced them to let me put some money in the deal. And so most of the time, the only time I'm not putting money into the deal is that the person I'm working with realizes it's just an amazing deal. And they're like, I kind of want this whole thing, so that can happen.

I love it. So how, ace, how did you start? Like, what's, what's your origin story?

So I wish I could say it was some big plan. It absolutely was not. You know, I started off in political science. I was planning on becoming an attorney. And when I first started looking into buying a business, it wasn't from a place of, oh man, it'd be great to, to go out and buy this business. I was just a customer. I was a user of a piece of Software back in 1999. And at that point I reached out to some guys who were running the business. They were kind of letting it go to the dumps. I mean, they weren't responding to customers and just all this stuff. So I wanted to intern with them. And when I reached out to them, they wrote back and said, well, we actually want to sell this thing. So that was the beginning of this whole process of me realizing that there are businesses out there, there are businesses that are for sale. That business was making thousand a year. They were willing to sell it for 70,000. And you know, at that point, my valuation skills were pretty much non existent. But I did know a very simple number. I know I knew that I was in school at a school called Colgate University. I was fortunate enough to get a scholarship, but I had plenty of friends that were paying the full price for that school, which was $120,000 over the course of four years. And so I did some quick math. You know, I knew plenty of folks that were graduating from college after paying that 120,000, and they were excited to get a job that was making 30, 35,000. I had others that were bartenders even and probably make even more than the office jobs. But I realized that, well, if I can buy $60,000 worth of income from 70, this is probably a good deal.

Yeah, it's a great deal. So as far as what you do, right, there's got to be certain parameters. What a good business for Ace Chapman, right? What do you find are the characteristics or the parameters of an investable business for you? And then I'm gonna let Scott Todd go from there, because I know he's got shiny object syndrome with you.

So the first thing, whenever I'm doing a deal, I'm looking for income. I want to buy something that is gonna make. You have to excuse there's a ton of thunder over here down in Miami today. But my number one goal is I want to get into a business that's making money. I'm only doing this because I want to generate some income off of it. It's not about getting into a business that has a ton of potential. It's not about getting into a business that has a ton of assets. Even we get people to reach out to us all the time. It's like, oh, well, I've spent money on this, and I have this software and I have that built and all of these things. And we don't look at any of that. We want to buy something that is generating income, and that's what we base our valuation of it off of. That's number one. The next thing is, how long has it been in business? I've done a lot of offline deals as well as online deals. When it comes to the offline deals, I love them because, you know, we bought businesses that have been in business 35 years. We just did a deal last year around 35 years. And when you've got something that's been around that long, there's a lot of brand equity that comes along with that. So you get into a business where, you know, in that particular business, you can go anywhere in that city and ask them about that business. Everybody knows about it. Another competitor couldn't come in. They'd have to spend at least a million dollars to get the brand recognition. This business built over the course of 35 years. So that becomes a huge amount of value so I can buy that business. I get the million dollars worth of marketing that it's done over course, 35 years for free. And then the last thing that I want is for it to have systems and people in place to run that business. I don't want to get into a deal and realize that, you know, it's going to be a lot of headaches for me and my team to run that business.

Yeah, I love you. You know what it makes me think of? I wonder if you even like this guy, Marcus Lemonis.

I love Marcus Lemonis, man.

Yeah. Yeah. Scott, shouldn't Ace have his own show? Yeah, yeah.

You know, like this. See, this is the problem. And he's got me going again.

Like, just.

I'm just thinking like that. I mean, you know, like Marcus Lemonis from the profit on cnbc. I love this guy because he goes in there, he's buying. He's buying businesses. He's making adjustments to them. Because every business has these little things that you can do that if you just. It's almost like going to the chiropractor, man. Like, they go and they just align you just a little bit, and then.

All of a sudden, the world is better.

And it's the same way with some of these businesses. I've seen some of these small businesses where, you know, you look at them, you're like, man, if you could change that, that and that boom, this thing would. So much excitement in there. And that's. See, this is where I got in trouble last year, is I started looking like I want to be Ace Chapman, Marcus Lahore. And this is a deadly interview for me, Mark.

So it is. It's exactly like the TV show the Prophet. I was so excited when that came out for the first 10 years of my career. I remember when I closed that very first deal, and it was amazing. I closed on a Tuesday. I was 19 years old. And the next day I got deposits into my bank account for that day's transactions. And that was this transition point for me. And as I started to make money in this and grow that business and go on to another deal and realize that this whole thing exists, this. It became a little bit of trepidation around other people finding out that this existed, because I felt like, man, if the word gets out about this that you can just go buy a business and make money, everybody's going to want to do it. And, you know, I remember I bought a business called HomeVestors, which you guys are maybe familiar with in real estate. And I loved that business. It was amazing. I still have some real estate rental properties and love real estate. But at the end of the day, the reason I sold that business was it was a very huge conflict. I had this portfolio at that point of about 36 properties. And I would get the statements and it would say, you know, like year one, like basically no equity, and then year two, it's like, man, this thing has taken 15, 20, 30 years. Which is amazing to have somebody else buying something from you as an asset over the course of that period of time. But I was used to businesses where I was buying things that are two multiple. So that meant it was going to pay and that's just the average deal. You know, I've had deals that pay for themselves at a six month multiple. So to go from, you know, the average just on the market, I'm not negotiating at all. I'm going to get a business at a two multiple. To waiting 15, 20, 30 years was like, whoa. I couldn't believe that folks were so excited. So it was fortunate that I had that change in vision because I ended up looking like an oracle. Because this was around 2007. I ended up selling out of that business to focus on buying more businesses as opposed to building the real estate portfolio.

And see like that's the, that's the thing that kills me about like it doesn't kill me about land or real estate, but it is kind of like that thing. I'm buying an asset. We sell this asset. Like we sell, we sell the majority of our stuff on terms. So I own our financing. And then like my first payment is like a month from now, which isn't bad on that asset. But it does change the dynamic of, okay, I own this business today, every day, because I'm not buying like some startup that has no, no history. I'm buying an established business. And every day money is hitting, I'm making money every single day.

Yeah, yeah.

Oh, that portfolio to where it becomes a large number.

Yeah. So there are two keys in that. One is that, you know, you have this snowball effect. So money is coming in on that regular basis. And as you get a little bit more money, you can put that with some of your other savings and then go buy another business. Now you have two businesses that are generating income. And the really interesting thing is when you get into like really getting a big portfolio of these things, the issue becomes getting that money back into the next deal. But you know, we had a guy in our space that kind of carried this out with these small businesses and realized that, you know, on the average deal that you paid a little bit higher price to get something that was more established, you paid three times instead of two. If you could reinvest that on a regular basis each month over the course of 36 years, that would turn from $100,000 into a billion. Though not to say that anybody's going to turn a hundred thousand dollars into a billion, but it just lets you know what game you're in. I think doing those kind of calculations, it just tells you, okay, in this world it takes me millions of dollars worth of real estate and I'm going to be able to turn it into 10 million 15 on the most optimistic numbers over the course of 30 years. Or I've got this other thing where that hundred thousand turns into a billion over the course. Or I've got, you know, what financial advisors are always telling us, like, oh, in 30 years, if you put away this amount of money and all these things over the course of this period of time, it'll turn into a million. And so the really interesting about doing those types of mental workouts and figuring out what strategy is the best strategy for you is when I'm looking at a business, it's about building this diversified portfolio of income producing properties that are going to pay me on that regular basis mainly so I can take those funds and go out and buy other, other businesses as well. But I'm building this cash flow for the long haul.

I love it. So Ace, what are some of the challenges or some of the mistakes that you see entrepreneurs making where you're like, you know what, this would be a great business if they just done this right? Like what? Like when you're doing your advisory piece, right, is it where most entrepreneurs failing, do you think, or weak at, right.

Entrepreneurs? Are you talking about people who started from scratch when we're looking at buying the business from them?

Yeah, yeah, like, hey, come, come, you know, like, hey, Ace, I need help. I need some growth capital. I need, I need one. As you know, I want to sell you a piece of this. I want you to help me grow it. You're looking at it. You're like, you know what if you just had this, this and this in place, you have my money, but you don't. Right. And I don't feel confident with you as the entrepreneur based on what you've already built. So I'm going to pass. Even if it's a 2 multiple or is that not a conversation you have? I mean, I don't know.

No, yeah. I mean, we get pitched deals all the time that are just terrible deals. And there are endless number of reasons. But, you know, one of the biggest things that makes a big difference is, and what I always try to do when I'm selling a business is make sure that we have some systems and basic SOP in place that breaks down each aspect of the business and how it's run. So when I'm sitting across as a seller from my potential buyer, I want to be able to make sure that every concern they have is answered. So the only reason somebody is not going to do my deal, they're going to do a deal with somebody else is is because they had some concern that I didn't kind of answer for them. And so, you know, when I'm sitting across, I like to bring out my little folder of SOPs and I just ask them straight up, which is something a lot of sellers don't do. It's like, tell me your biggest concerns when it comes to this business. Like, what. What is it that, you know, is kind of keeping you up at night and keeping you from signing the dotted line? And they might say, well, you've got this manager that's running the business and they're doing an amazing job. What am I going to do if that manager leaves and I can take them in the SOP over to the employee section, go to the manager section and basically say, here's a breakdown. If that manager leaves, here's where we put an ad to advertise for the right candidates. Here's what we say in that ad. Here's what we look for in the resumes that come in. This is how we determine who we're going to do an interview with and the questions that we're going to ask. In the meantime, while you're going through these process, here are the two employees that you're going to put in place and the responsibilities you're going to split up between them two. So the business continues to run smoothly during this transition period. As you can take somebody through and they're like, oh, well, I'm also worried about the marketing. You go through the marketing session, you can break down. Here's everything that we've tried that hasn't worked. Here's the things that we're doing right now that are working. Here are the other things that we plan to do in the future that we think have a lot of potential that you could do or make little switches to improve. That makes sense.

It totally makes sense. And we talk about this all the time. Having These systems, having these processes, having automation. For example, in our business, we're 85% automated now with software. So it doesn't become as important the person as it does the system. Right. I almost think of like McDonald's, right? The processes, their systems are so airtight. You can put in almost anyone in there and train them. And you've got, you know, you've got your hamburger and fries, right? So, you know, when you get into more high level type of things, you kind of think, oh, I could never replace that person. Well, you could. You just have them create a system in a process. And, you know, sure enough, you find someone who has, you know, the same vision as you and heart that business passion for it. You're gonna want to do a great job.

And it's so funny, you know, when you talk about McDonald's in particular, is that is really what their whole product is, is this system? I mean, they've just got that thing so dialed in. It's amazing.

Yeah, absolutely. So, Scott, Todd, if Ace said to you, hey, I've got a business to buy, are you gonna buy one?

I don't know.

Look, I'm telling you, I've gone down this path and I actually looked at a number of companies. There was one, it was a, it was a cigar. It was an online cigar company. They actually had like a warehouse in Tennessee. And I went down the path and it looked good. I was able to poke some holes in their story and deep due diligence and found out that they were also running a competing site against it. And it kind of like spooked me a little bit, right?

Oh, yeah, absolutely. That should spook you.

Yeah. So I was out at that point, and then I got whip snapped back into land investing. I haven't looked back again. But yeah, that was a nice little detour of about five weeks. But Ace, like, someone, someone out there who's like, really wants to, you know, they want to be in business. Right. You know, a lot of times people will look at something go, well, I just don't have the money or I don't think I have the money to do this. I mean, owner financing or, you know, the seller financing, does that exist in business? You know, in the businesses that, you know that you're getting that are a little bit more reputable, do I need a lot of money to get going? How do I do this?

Yeah, one of the. So first of all, the important thing, if you're interested in getting into this, it's crucial that you see yourself as being in the business of buying a business, this isn't like shopping for anything else. You know, when it comes to buying a car, people advertise it. When it comes to buying a house, you know, people tell you about it. When it comes down to business, we just. None of us have ever walked into a business and had a big sign up and they're like, oh, the business is for sale. Talk to the owner if you want to buy. So this is the one asset that people try to sell as secretly as possible. And so you've got to do work to find them. And at the end of the day, any business that's advertised is just going to be the worst business. Like, you know, even if it's the best deal for a car. And as you guys know, in real estate, the best deal for real estate is never advertised. It's just, you know, if I have a Rolls Royce, I want to sell it for 25,000. I don't need to advertise that. People worse, I get out. So if you take that over to a space where people don't want to advertise, the average bidder owner that wants to sell wants to keep it a secret the whole time until closing. And you carry that logic forward and you're like, okay, in this space, the absolute. It's absolute that only the worst deals are going to be advertised. And so there's a lot of things at play there. So a big part of this is when you make that decision that you're gonna buy a business and you're kind of that entrepreneur that wants to get into this space, you've got to treat it like a business. It's not just. It's just like going into day trading or anything else. This is the one space where, you know, you're going and you're paying somebody for something, but you've got to do the sales job. You have to be the one to sell yourself, even though you're turning the money over to them. So the same way that a day trader goes in, any day trader that doesn't have a full plan, they don't know what kind of deals they're looking for. They haven't mapped everything out. You're gonna lose money. And so one of the reasons that very few people talk about this space or in this space or anything like that is very simply that when it comes to doing deals, people that jump in on an amateur level will lose their shirt a lot of the times.

Yeah, I mean, I used to do investment banking back in the day, and we would say, look, what's your model? And if it was outside of that, they wouldn't even look at. Wasn't even a conversation like, no, this is the best business idea ever. No, we only want this parameter.

Right.

And very disciplined. Right. Anything outside of that area of expertise, they wouldn't look at. And interesting what you said is that as an investment banker, nobody wants to talk to you. Nobody wants to be seen with you. You can't join a country club and be like, hey, I'm an investment banker. You're gonna get business that way because no one wants to talk to you. It's very secretive. Yeah. So, yeah. Ace Chapman, you probably never have a lunch date. Like, no one wants me see with you.

Yeah, exactly. Nobody wants anybody to know, like, oh, I saw him at the country club with Ace. Must be about to sell his business.

He must be interested in selling.

Yeah. And I don't want him to see me with him either.

Yeah, yeah, exactly.

I don't want him to end up competing with me.

Yeah. I mean, it's so funny. So as far as current businesses that you're seeing, like, we talked about fba, Amazon model, which is very popular today, as far as certain models. And if, you know, I'll just call you Uncle Ace, right. You're going to say to my children, hey, this is an industry or an area or niche. Right. That you should probably be looking at because it's going to be strong. It's got great growth opportunities, it has tremendous cash flow. You can operate it from anywhere. Blah, blah, blah, blah, blah. All these little things. Right. What do you think is sort of a great model as of today?

So there are a couple things that are just great models. We're doing more Internet deals than ever before, and I look at the dealmakers or the business buying model as just a business model in and of itself. So you're in the business of buying other businesses. And that's obviously my favorite model. I work with some folks who have gone through our program who also do consulting for equity. And, you know, I did a lot of that. It's a great way. If you're just getting started and you want to go and get into a business, it really just. It only makes sense to start a business from scratch if you have this, like, huge vision and passion for something. In particular, if you're just looking for income, I think consulting for equity is one of the easiest ways to just get that income and replace your working income. And that's where you go into a business that's already existing. You see some Opportunities to grow that business, you negotiate with that owner to basically either take some equity, either take kind of what we call a watermark, and be familiar with that from the investment banking world and get a percentage of everything above that, or just do a straight revenue share on what you produce. And so either one of those models, what you want to do is leverage assets and systems and proof of concept that already exists out there. So everywhere we go, we're driving down the street, we see businesses that are operating and they're working, and instead of you going and creating that from scratch, you can leverage what already exists. And I had to take this lesson. It took me a long time to get it. I was fortunate enough to have a mentor who flipped hospitals, and I sold a couple businesses and I had some cash, some cash. And so I wanted to start from scratching. I'm sitting across in this guy's conference room. He was definitely a no nonsense kind of guy. And I'm pitching them my idea for this startup and he just is looking straight faced, and I'm like, okay, this guy's old, he's just not getting it. So I get even more passionate about why I think this business is such a great idea. And at the end of my whole pitch, he asked me about my computer. And, you know, I'm sitting there thinking, why in the world are you asking me about my computer? And he's like, where did you buy it from? I told him, dale, why didn't you build it yourself? Like, I don't know how to build computers. I don't have the parts to build computers. What are you talking about right now? And he was like, but you go online, you can learn how to build a computer, and you can also buy all the parts. And, you know, I quickly started to realize where he was headed. And his idea was that you're not. He didn't get that computer. To become an expert at building computers, like, your goal was to be able to write word documents, get online and email your friends, connect on social media. Like, you don't care how the computer was built. You know, you don't need to be a part of that to get the results. And so when you carry that over to the other areas of our life, you look at, you know, cars, like, if we want a car, there's 1% of people that will, you know, build one from scratch because they're passionate about that. But 99% of us, we're just gonna go and buy a car because we want some transportation. I don't have time to figure out all of that. When it comes to a house, we know that even with a house, you have a blueprint and everything mapped out. It's such a pain trying to build it. Most people who do build one say, I'd never do that again. And so when we want a house, we just go buy it. When it comes to income, it's the one place that we think, or especially when it comes to a business, the one place that we think we gotta build this thing from scratch. The great majority of people should not be building a business from scratch, which is why we see such the dismal and just rampant failure out there. And what's really crazy is the statistics that we see where like half the business are failing and the first company and then another half and like all these businesses are going out of business. That is just half of the story. Because you mentioned earlier, you know, what are the conversations like when these entrepreneurs come to you and they want to sell? There are a ton more businesses that are stuck in kind of this entrepreneurial purgatory that is miserable. There's a ton more entrepreneurs than the ones that just completely fail, that are in a worse place. It'd be better off if you just lost the money, you lost the time and you had to start from scratch. But there are some people that are struggling every single month. They're paying bills and they're exhausted from the business. They have no more energy to carry it and really grow it and do something with it. And they're kind of stuck in this in between spot, not really successful, but not losing enough money to just walk away from the investment. And I see those folks every, every single day. So that lesson is really carried over to me where it's like, there are a lot of people out there that would be great business owners, great operators of businesses, but they never can get to that point because they've got to become an expert at starting this business from scratch. That means they've got to become an expert at Facebook marketing and webinars and emails and Snapchat now and Meerkat, which disappeared. You know, just all of these different things that people are becoming experts at.

I love it. Great advice. So it's that time now. We're gonna put you on the spot.

I am ready and ask you for.

Your tip of the week. A website resource, a book, something actionable that passive income listeners can go to right now. Improve their businesses, improve their lives. What do you got?

So I'm a big fan of learning from people who already done it. So even if you're out there, and either you're curious about buying a business or you're starting a business. There's a lot to be learned from the people that have already built great businesses. So I would go to bizbysale.com look at the businesses that are for sale, and you can actually request prospectuses. Personally, I wouldn't buy a business from a lot of those businesses, especially when they're advertising all the details of the business publicly. Yeah, I wouldn't buy something where my competitor probably has the information. But since these guys are so willing to share prospectuses, I would gladly read all of them. And you can learn a lot from these sellers that have built really great businesses. The brokerages will give you all the information, like what niche they're in, what they're doing, Google Analytics. Just all that stuff is out there for people to learn from. And that's regardless of if you want to go into this space or not. That's just valuable information that is sitting there from the entrepreneurs that made it through that entrepreneurial gauntlet.

I love it. I love it. Biz buy bizbysell.com bizbysell.com Got it. All right, great, Great tip, Scott Todd.

My tip is if you really want shiny object syndrome, go right now, go to Amazon and get the Ace formula, which is Aces book. I mean, this thing will. Will send you in a spiral. You may. You may return to land. You may not return to land to see you go. But it's. If this is calling for you, this is the place to go. I went there, I read it, I spent five weeks, and then I was saved by Mark from pain. But, you know, it's all good.

Thanks, I appreciate that.

Yeah, I mean, I would never really kiss up to Ace the way that Scott Todd is. I would never grease my way up a pole.

Wow.

That being said.

We know who's getting the Christmas gift.

Yeah.

I want Uncle Ace to send the business my way.

I know Uncle Ace is like, after this podcast is like, scott, by the way, you got a great company. It's thrown off 20,000amonth by the two multiple. But don't tell Mark.

Right.

And then like, as will email me like, oh, Mark, I've got this great company that's losing money. I think.

All the information.

So I'm gonna hedge my bets and I'm. My tip of the week is gonna be learning more about Ace. You go to acechatman.com It's a tremendous model. It's a tremendous niche. I love my model. But look I'm open. Right. I do have a podcast called the Best Passive Income Model. And unfortunately we couldn't get Ace on that podcast because I'd love to ask him, do we have the best passive income model? That being said, you know, I know this world and everything Ace has said is correct. And you know, income is key. Buying at the right price is key. And investing in something that you know, right. You're mitigating your risk when you buy something that's already up and running. What's the most important part of a business? Cash flow. Customers. Right. That's the hardest thing to get. And if you're buying into that, that's an excellent investment. And if you could do it on a passive basis, right, and you can use. Utilize someone like an Ace Chapman to help you do that, I don't see anything wrong with it. But that being said, I do think there is something to be said about focus. So if you're going to go and do it, focus on it. Don't get shiny object syndrome, because, look, we only have so many hours in a day. You got to do what you really believe is best in your heart. And I don't know. Ace, did you like that idea?

I love it. I love it. I tell people all the time, just like I said, 95% of people who are say they want to buy business never end up buying a business. Actually, that same site, business owner, they did a little study. So 95% of the people who say, I am definitely going to buy business this year never end up buying it because they don't have that plan to go forward. They aren't, you know, kind of going through a process, looking at deals, creating deal flow, making a lot of offers and kind of going step by step. And so they end up frustrated. Kind of like what Scott was mentioning. They have that one deal, they're going what I call kind of straight line process, from deal to deal to deal. You get to a deal, you feel like it's gonna work. We've had plenty of. Just this year, I've had four deals that I was in love with that fell through. So, you know, as one of my mentors said, it's all these things are always teetering towards disaster. You're familiar with that from the investment banking world. You know, just like every deal is just teetering towards not working. It's not one of those things where it's easy, but the payoff can be very big. And the only way to get there, whether you're going out, you're buying businesses you're buying land or other business models is to have that focus.

Yeah, I agree. And I do want to pitch an idea to you right now, Ace, where the three of us start, you know, instead of calling, like, Shark Tank, we'll call it, like, whale Tank. We have, like, a YouTube channel where we have entrepreneurs come on and pitch us. We can fight over the deals.

Yeah. Yeah, I love it. So it's funny you mentioned that. We do have something called Portfolio Sharks right now where I share the deals that I'm doing with a group of guys that are guys and girls that are part of this little program. And, you know, they get to see behind the scenes, the actual deals that we're buying. We're growing, we're selling. So, yeah, we're doing a little bit of that right now.

I want to get in on it. All right, Ace Jobman. Are we good?

This has been excellent. Thank you guys so much for having me on the show.

Thanks so much. We really appreciate it. I want to thank Scott Todd as well. I want to thank all the listeners. And please look, subscribe, rate, and review the podcast. It's the only way we're going to get the quality of guests like an Ace Chapman to share their wisdom, share their knowledge, share their experiences with us so we can all benefit and go out in the world and as Steve Jobs would say, make a dent in the universe. Again, go to thelandgeek.com go to friendshippropertiesusa.com, landmoto.com wholesale. But most importantly, start automating Craigslist ads hosting domination.com thelandgeek I guarantee you even Ace Chapman will not be able to buy into this business.

And share this interview.

Right? Yeah, and definitely. Yeah, and share the interview. Go on Facebook, Twitter, Snapchat, whatever, and share the love as well. So thanks again, Ace. I want to remind everybody, acechatman.com get his book as well, and we'll have links to everything. So, Scott, are we ready to do this? Ready.

Let freedom rain.

That is so awkward.

It is bad.

We still haven't gotten it.

We still haven't gotten it.

We haven't gotten it. Yeah, we got the outro doing it. All right, thanks, everybody. See, everyone next time.