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#56 SBA Secrets: 100% Financing & Buy-a-Business Playbook (Brandon Sandler) · Own More Doors

0:00
SPEAKER_02: Now, here's why I want you guys to tune in.
0:01
SPEAKER_02: Okay.
0:03
SPEAKER_02: I hate to break it to you, but AI is going to be taking the majority of white-collar jobs.
0:08
SPEAKER_02: I think anyone who is a consultant, an advisor, if you're in real estate, doctors, attorneys, engineers, AI is coming for your job.
0:16
SPEAKER_02: I'm sorry, it's going to go away.
0:18
SPEAKER_02: And for those of you who think, oh, well, they'll keep 20%, great.
0:21
SPEAKER_02: If you're good enough, you'll be part of that 20%, but 80% is going to get laid off.
0:25
SPEAKER_02: Why should you listen today?
0:27
SPEAKER_02: Because we're going to go into business acquisitions.
0:29
SPEAKER_02: A lot of us are going to be laid off, including myself, folks.
0:31
SPEAKER_02: I want you to know that I'm putting myself in the fact that AI is going to do my job and it might do it better than me.
0:37
SPEAKER_02: And I've, it is what it is.
0:39
SPEAKER_02: I can't, that's out of my control.
0:42
SPEAKER_02: Now, put yourself in a position that you were a consultant, an advisor, or a coach, and now you're without a job.
0:48
SPEAKER_02: What are you going to do?
0:49
SPEAKER_02: You're going to start your own business.
0:50
SPEAKER_02: And today I'm going to interview Brandon where we're going to be talking about business loans, business acquisitions, partner buyouts, working capital, SBA financing.
1:00
SPEAKER_02: We need to start thinking like entrepreneurs because at this point, it's more important than ever before.
1:05
SPEAKER_02: What's up, everyone?
1:06
SPEAKER_02: It's another Own More Doors podcast.
1:09
SPEAKER_02: I'm here with Brandon Sandler with LiveOak Lending.
1:12
SPEAKER_02: Brandon, man, good to have you back.
1:14
SPEAKER_00: Awesome to be back.
1:15
SPEAKER_00: Thank you.
1:16
SPEAKER_02: You know, it's it's not often that we that we ask a guest to come back, especially this uh this close to our last YouTube interview that we did.
1:24
SPEAKER_02: But Brandon, we um the one thing that that I really liked was the amount of response, comments, and and and the outflow of people reaching out to you directly.
1:35
SPEAKER_02: And I and I I kind of want to um I kind of want to start there.
1:39
SPEAKER_02: Like we had you on, and I think, you know, we do interview a lot of people, but for some reason, I think the amount of calls that you got were much, much higher than maybe some of our other guests.
1:52
SPEAKER_02: Why do you think that is?
1:53
SPEAKER_02: Like what what is it that you specialize in, or what are the questions that people are asking you?
1:57
SPEAKER_02: Because that's kind of where I want to start.
1:59
SPEAKER_00: Sure.
2:00
SPEAKER_00: Um, yeah, since the last podcast, I've probably received upwards of 50 calls.
2:05
SPEAKER_00: That's amazing.
2:06
SPEAKER_00: And um it's all shapes and sizes, it's people looking for a building, people looking for a business, people looking to start a business.
2:15
SPEAKER_00: Um maybe this works better than perhaps something else because it hits it hits home.
2:27
SPEAKER_00: Um and there's there's not too much of a presence out there, I think, for people doing business related topics.
2:35
SPEAKER_00: There's more topics on real estate, but being an SBA lender, you know, we do a lot of things.
2:42
SPEAKER_00: So it it can hit a wide range of of your audience.
2:48
SPEAKER_02: And Brandon, so one thing, and I'm gonna have you give us kind of a like an overview of like, hey, these are the types of clients that we help the most.
2:55
SPEAKER_02: And so I'm gonna kind of give you the um the stage for that.
3:00
SPEAKER_02: But one thing that I like about Live Oak, um, you guys are out there doing business loans, A, for the business, but also real estate loans for someone looking to expand.
3:10
SPEAKER_02: Um, and and I'm gonna let you go deep into that.
3:13
SPEAKER_02: A lot of times when we interview lenders, they're limited um with hey, I you know, I could only do things within a certain state.
3:19
SPEAKER_02: In our case, because we're in California, it'd be California.
3:23
SPEAKER_02: You guys are pretty much nationwide.
3:25
SPEAKER_02: Yep.
3:26
SPEAKER_02: So we know, and and believe me, to our to our to our followers, our subscribers, our listeners, um you could always check us out on YouTube, where our that's our biggest platform.
3:37
SPEAKER_02: Um, and but but also our our podcast, On More Doors, is growing.
3:41
SPEAKER_02: And so if you don't know about our YouTube channel, that's um Sage Real Estate, so you guys could check that out.
3:48
SPEAKER_02: But we're in two places, and so you could watch us and or you could just listen.
3:52
SPEAKER_02: But just know that what we're gonna be talking about today doesn't matter where you're at.
3:58
SPEAKER_02: And we we we get the intel, we see that people are um the different cities, the different states, and it's in its nationwide.
4:07
SPEAKER_02: It's actually world worldwide.
4:09
SPEAKER_02: I'm surprised.
4:10
SPEAKER_02: I'm surprised where some of the data comes back and where people are listening.
4:13
SPEAKER_02: But I just want to let you folks know that we that we appreciate uh the feedback, the comments, the support.
4:20
SPEAKER_02: And the only reason I keep doing this, because I'll be honest with you folks, uh I'm uh a real estate investor, I'm a real estate broker.
4:30
SPEAKER_02: That's that's all I really wanted to be.
4:31
SPEAKER_02: To to have a podcast and a YouTube channel was five years ago, would have been like, are you kidding me?
4:36
SPEAKER_02: No, I'm not that that's not what I know how to do.
4:39
SPEAKER_02: But it's because of the support and kind of some of the comments that we've gotten where people are like, you know what, that was the message I needed to hear.
4:47
SPEAKER_02: I needed to get off the fence, I needed a little push.
4:50
SPEAKER_02: That was the inspiration.
4:51
SPEAKER_02: Um it's that is what keeps me going.
4:55
SPEAKER_02: Kind of knowing, like, hey man, it feels good to kind of make a difference.
4:59
SPEAKER_02: And even if it's a small difference, Brandon, it doesn't need to be a big difference, but now I know that we're making a difference.
5:03
SPEAKER_02: And so um, Brandon, tell us what it is that you do and kind of like your your perfect type client that you're in a position to help.
5:14
SPEAKER_00: Sure.
5:15
SPEAKER_00: Uh that's a long answer.
5:18
SPEAKER_00: So I'll start to recap for people who didn't see your last podcast.
5:23
SPEAKER_00: I'm with Live Oak Bank.
5:25
SPEAKER_00: We are a nationwide SBA lender.
5:29
SPEAKER_00: We are a virtual bank.
5:30
SPEAKER_00: We have about 12 billion in assets, and we are extremely well capitalized.
5:38
SPEAKER_00: Uh very good at what we do.
5:40
SPEAKER_00: We've been the largest uh SBA 7A lender for the last six years.
5:47
SPEAKER_00: So we are true pros in this realm.
5:52
SPEAKER_00: As far as who can we help, uh, that's really anyone who either owns a business, wants to buy a business, um, wants to expand, uh, we lend on real estate for that business.
6:10
SPEAKER_00: We can finance an acquisition of a business, we can finance some uh some startups, inventory, equipment, working capital, and even buying out a partner.
6:26
SPEAKER_02: Brandon, so give us some examples of what you've worked on this year, or just the kind of the things that you work on, just so someone says, aha, I I understand what he's saying, and and and I'm in that boat.
6:37
SPEAKER_02: Give us some actual examples.
6:39
SPEAKER_02: You know, we don't need names, but just kind of like, yeah, these are the kind of companies or people that I help.
6:45
SPEAKER_00: Sure.
6:46
SPEAKER_00: Uh that's also a pretty big range.
6:50
SPEAKER_00: So right now I'm working on an acquisition of uh uh a building.
6:58
SPEAKER_00: A guy has been leasing his space, uh, wants to buy.
7:03
SPEAKER_02: So the person is a business owner, and they've been, in my opinion, throwing away their money by leasing.
7:10
SPEAKER_02: Right.
7:10
SPEAKER_02: Okay, and they're like, I'm tired of this.
7:12
SPEAKER_02: This is this is this is ridiculous.
7:14
SPEAKER_02: Yeah.
7:14
SPEAKER_02: You know, because you're just uh, you know, you see it as an expense, but you see no growth in that expense.
7:20
SPEAKER_02: It's just an expense.
7:21
SPEAKER_00: Right.
7:22
SPEAKER_00: So one of the really cool things that Live Oak does, which pretty much most other banks don't do, is we can finance a hundred percent of the of the purchase price on loan amounts up to nine million dollars, as long as the business is going to occupy that building.
7:39
SPEAKER_02: So this is for business owners.
7:41
SPEAKER_02: So typically, if typically, if a business owner called me and said, Hey, I saw you on YouTube, I heard your podcast.
7:50
SPEAKER_02: Um, you know, I operate a business.
7:53
SPEAKER_02: Um, I've been in business for a couple of years.
7:56
SPEAKER_02: I've been leasing the the owner has offered me his building for sale.
8:00
SPEAKER_02: So typically I'd say, Oh, you know what?
8:02
SPEAKER_02: You're a perfect candidate for an SBA loan.
8:04
SPEAKER_02: Um, typically that's a 10% down.
8:06
SPEAKER_02: Correct.
8:07
SPEAKER_02: And typically that's the case.
8:08
SPEAKER_02: You guys are slightly better.
8:10
SPEAKER_02: I mean, well, you are better.
8:12
SPEAKER_02: You could do a 10% down if you wanted, but you're you're saying, hey, we could do 100% financing.
8:18
SPEAKER_00: Yeah, so Live Oak figured out really just um taking a little bit larger risk than most of the other banks out there where everyone else wants to stop at 90%.
8:30
SPEAKER_00: We thought, well, for a good borrower, shh uh a pretty strong business, we can finance that extra 10%, essentially nothing down.
8:42
SPEAKER_00: And uh you know, we're making we're making people happy.
8:46
SPEAKER_02: Are you one of the only companies that that does 100% financing when it comes to SBA?
8:52
SPEAKER_00: There are a couple other banks out there that I've heard of doing it recently, but we were kind of the first to dive into that that pool.
9:00
SPEAKER_00: Um, we're doing it nationwide, uh coast to coast.
9:05
SPEAKER_00: Yeah.
9:06
SPEAKER_00: And um yeah, we are kind of the major force in that high-leverage world.
9:12
SPEAKER_02: Yeah.
9:12
SPEAKER_02: So let me give people an example.
9:14
SPEAKER_02: So um I'm a big believer in not like if you're in a position, I I I understand that a lot of people may not be in a position, but if you're in a position where you could buy a house, I would say buy the house versus renting.
9:30
SPEAKER_02: Because renting is throwing away your money, it's not gonna go anywhere.
9:34
SPEAKER_02: And then, same if you're a business owner, I always wonder, well, why are you leasing?
9:38
SPEAKER_02: Like, there's like it's not like real estate's that expensive.
9:43
SPEAKER_02: And Brandon, when I when I bought both of my offices, because I want people to know, like, like what I tell people, like I actually do.
9:51
SPEAKER_02: Like I tell people, hey, if you're a business owner, you should own your your your building.
9:55
SPEAKER_02: I own my building.
9:56
SPEAKER_02: So I own two office condos.
9:58
SPEAKER_02: I started off with one, and when I bought that one, and I don't know if my loan amount was so little, I went thinking that I could do 10% down, and then it turned out they wanted 15% down, which was fine.
10:08
SPEAKER_02: I did it.
10:09
SPEAKER_02: And then and then the office condo next door came on the market and we started to grow and we had success and we needed more room.
10:16
SPEAKER_02: And I thought, well, then I'll buy that one.
10:18
SPEAKER_02: And I did, and again, 15% down for that one is also so so both of those were SBA loans.
10:23
SPEAKER_02: So I want people to know you could have more than one SBA loan if you're if you're um a business owner.
10:30
SPEAKER_02: One part, you know, people ask me all the time, they'll they'll call me and they'll say, Well, they'll say two things.
10:36
SPEAKER_02: I don't know why they say this.
10:38
SPEAKER_02: They're like, um, I want to buy an eight-unit apartment building with an SBA loan.
10:42
SPEAKER_02: I'm like, no, that's not the way it works.
10:44
SPEAKER_02: Like, why do you think that?
10:45
SPEAKER_02: Like, I've never said that.
10:46
SPEAKER_02: Like, who who told you that's even possible?
10:48
SPEAKER_02: So that's one kind of thing.
10:50
SPEAKER_02: The other thing people will ask me is, um, hey, I want to get an SBA loan.
10:54
SPEAKER_02: I'm like, great, what kind of business are you?
10:55
SPEAKER_02: And they're like, Well, I'm about to start this business.
10:58
SPEAKER_02: Talk about those two things, um, just so that people could could have a little more information out there.
11:06
SPEAKER_02: Sure.
11:08
SPEAKER_00: So let me unpack this a bit.
11:12
SPEAKER_00: Um, so if someone wants to buy their first building and they don't have an active uh business, we will do startup loans case by case, depends on the industry.
11:26
SPEAKER_00: Um but in general, buying real estate is for a business that occupies that building at least 51% of the square footage.
11:38
SPEAKER_00: So you mentioned multifamily.
11:41
SPEAKER_00: A lot of people who don't understand SBA or just don't know about it, think, oh yeah, I'm gonna buy a building, I can use SBA.
11:48
SPEAKER_00: No, you can't.
11:49
SPEAKER_00: There you go.
11:50
SPEAKER_00: Thank you.
11:50
SPEAKER_00: This is only for owner-occupied real estate where the business occupies at least half of the space.
11:57
SPEAKER_00: Now you you are allowed to rent out the other 49%.
12:03
SPEAKER_00: But you know, that's a that's a very common misunderst understanding of the SBA world.
12:08
SPEAKER_00: People want to get into the investment world, but that's not what SBA does.
12:13
SPEAKER_00: SBA is for business owners.
12:15
SPEAKER_00: And the weird thing about SBA, you know, to a lot of people, uh owning real estate is a business, but not to the SBA.
12:24
SPEAKER_00: They c they call that uh a passive business, whereas they want people to have an active business, which is really any kind of business you see up and down Main Street.
12:35
SPEAKER_00: So if you own that kind of a business and you want to buy a building for that business, that's what SBA does.
12:41
SPEAKER_00: Now, as far as you can also buy locations two, three, four.
12:46
SPEAKER_00: So it's not just for uh replacing rent.
12:50
SPEAKER_00: Say you uh say you already own a building and you want to go into another city, another state, we can finance expansion loans for real estate, or you want to buy a business in a different state.
13:04
SPEAKER_00: We can look at at that too.
13:08
SPEAKER_02: Um let's talk about working capital and what types of industries do you see?
13:20
SPEAKER_02: Because I'm trying to I'm trying to connect with someone who's listening to us to say, oh yeah, that's the type type of business.
13:25
SPEAKER_02: Like what type of working capital like so I run a real estate business, I don't think of working capital in my in my perspective, right?
13:34
SPEAKER_02: And and maybe other industries like mine think about that, and maybe I'm not thinking about it really, but like I don't think about working capital.
13:40
SPEAKER_02: I don't need equipment or anything like that.
13:42
SPEAKER_02: But what what businesses do you work with where you're like, Juan, in this scenario is when they need it, this is when they normally take advantage of what we offer.
13:51
SPEAKER_00: So again, think of businesses you see up and down Main Street, can be office, retail, manufacturing.
14:02
SPEAKER_00: You own uh an IT business and you need to hire some more employees.
14:07
SPEAKER_00: You need to buy some inventory, you need to buy some equipment to take your business to the next phase.
14:13
SPEAKER_00: So we typically do loans from 50,000 to 350,000.
14:19
SPEAKER_00: That's a specific working capital tier.
14:22
SPEAKER_00: Um term is term is 10 years.
14:26
SPEAKER_00: It's uh rates are typically about uh two and a half over prime.
14:32
SPEAKER_00: And you can use it for a number of things.
14:34
SPEAKER_00: You can use it if you want to uh hire staff, you want to do some uh marketing, you want to uh open up a new line, open up a new division, uh buy inventory.
14:48
SPEAKER_00: You know, a lot of people are limited in their growth because they don't have cash.
14:54
SPEAKER_00: They see all these different uh ways to make the business grow, but they uh could use an extra$200,000 to take their business from point A to point B.
15:03
SPEAKER_00: That's what we do.
15:05
SPEAKER_00: So if the business is already doing well, uh profitable, you've been in business a few years, you can theoretically qualify for up to$350,000 to take your big your business to the next level.
15:20
SPEAKER_02: Brandon, you talked about you know business doing well.
15:25
SPEAKER_02: Uh how important is accurate record keeping?
15:29
SPEAKER_02: I mean, let's talk about that because if you're someone who's gonna write everything off, if you're someone who's gonna write everything off and then come to you and say, hey, I I show no profit, I want a loan.
15:41
SPEAKER_02: I I can't imagine that's gonna help them.
15:43
SPEAKER_00: Now that's a really important thing to mention.
15:46
SPEAKER_00: And um a lot of people naturally, if you own a business, you don't want to pay any more tax than you have to.
15:53
SPEAKER_00: Well, lending works the opposite way.
15:56
SPEAKER_00: We need you to show net income, we need you to report that, at least in the most recent tax year, we have to have a tax return where the cash flow is sufficient to show us that you can afford to take on this new debt.
16:13
SPEAKER_00: So if you talk to your CPA, they're gonna say write off as much as possible.
16:19
SPEAKER_00: Don't show any uh any net income.
16:23
SPEAKER_00: If you're trying to get a loan, stop doing that.
16:25
SPEAKER_00: You want to show really as much as you can so that the bank looks at it and goes, okay, you can afford to absorb more debt.
16:35
SPEAKER_00: And banks work off of tax returns, not bank statements, not PLs.
16:41
SPEAKER_00: Tax returns trump everything.
16:44
SPEAKER_00: So if you're listening and you're one of those people who writes off as much as you can, let's talk about it.
16:51
SPEAKER_00: I can if if your returns don't look good now, I can look at your file and say, this is what you have to do to get to the next point.
17:00
SPEAKER_00: And I can really advise what they need to show on their returns to make this loan work.
17:06
SPEAKER_02: Right.
17:07
SPEAKER_02: For anyone listening, um, you know, the one thing that Brandon said is um, you know, accurate record keeping, at least in the kind of short term.
17:19
SPEAKER_02: So I'll just call that two years, and you know, but maybe that's good enough.
17:22
SPEAKER_02: So, you know, if if you've been in business for a long time, you've done when you, you know, you've you've operated and and maybe listen to your CPA, the way that they've told you to operate things, but there is still a chance.
17:32
SPEAKER_02: I mean, most people, when they think about their business, they don't think about their business uh going out of business, and they definitely don't think about, you know, they might think about selling, but if there's if there's a goal to get to a certain place where you need working capital, I would say take advantage of what Brandon's asking.
17:48
SPEAKER_02: He's saying, hey, just come to me, show me what you got and what you want, and and I'll guide you so that, you know, I think once we get older, man, we realize that years come and go really fast, you know.
17:59
SPEAKER_02: So whether it's a two-year wait or a three-year wait of just changing some things around in the operations, um, it could be done.
18:06
SPEAKER_02: And why not do it if it's if it's if you see that there's help out there for you.
18:10
SPEAKER_00: Yeah, a lot of people really just get the wrong advice, especially if they're trying to do something big and grow the business.
18:19
SPEAKER_00: Talking to an accountant is very different than talking to a lender.
18:22
SPEAKER_00: So we're we're gonna look at things really the up the opposite way.
18:28
SPEAKER_00: Um, so yeah, um, if you're one of those people, call me, let's talk.
18:32
SPEAKER_00: I can look at your financials, let you know how to set yourself up for success.
18:40
SPEAKER_02: Got it.
18:40
SPEAKER_02: Um, talk to us about partner buyouts.
18:42
SPEAKER_02: I mean, obviously, like my show is normally uh acquiring real estate, building wealth through real estate ownership.
18:51
SPEAKER_02: But but partner buyouts is something that uh we touched on last time, and it's something you guys do a lot of.
18:58
SPEAKER_02: And and so I'm just thinking if you guys do a lot of it, then clearly the the market or the people that are listening to us um know about it and and maybe you know, just give us an example on how that works, how it's looked at, and if someone's thinking of it, you know, typically if you have partners, at some point someone wants out.
19:17
SPEAKER_00: Yeah.
19:17
SPEAKER_00: Um, so let's say you have a partner.
19:20
SPEAKER_00: Now, this could be in a business or it could be in the real estate that holds the building for the business.
19:27
SPEAKER_00: Okay.
19:27
SPEAKER_00: So we can do a partner buyout of essentially uh the operating business or the holding company.
19:35
SPEAKER_01: Okay.
19:36
SPEAKER_00: Now, people don't often think SBA to buy out a partner.
19:39
SPEAKER_00: So it's one of those things that kind of flies under the radar, but we do a lot of it.
19:46
SPEAKER_00: So let's say you've got uh two people, they're 50-50, one of them wants to retire or one of them wants out for whatever reason.
19:56
SPEAKER_00: Say you're just not seeing eye to eye, we can finance that buyout, say it's a million dollars.
20:06
SPEAKER_00: Um, it's that's gonna be uh on real estate, a 25-year term on a business, a 10-year term, and we look at it the same way we would anything else.
20:18
SPEAKER_00: As long as the cash flow supports taking on this new debt, we can finance that buyout.
20:25
SPEAKER_01: Okay.
20:26
SPEAKER_02: Um, can I give you an example?
20:27
SPEAKER_02: Sure.
20:28
SPEAKER_02: And just see if it works.
20:29
SPEAKER_02: Yeah.
20:29
SPEAKER_02: Um, I sold this really amazing office building to these guys.
20:35
SPEAKER_02: This was before I knew about Live Oak.
20:36
SPEAKER_02: And so, and so one was a financial advisor, one was a CPA, and they were both renting.
20:41
SPEAKER_02: So they came to me and they said, Hey, we want to buy a building together.
20:44
SPEAKER_02: And with SBA financing, 10% down, they they both bought this property together.
20:51
SPEAKER_02: Beautiful office building.
20:52
SPEAKER_02: Well, now one of the guys uh wants out, and the other guy said, Hey, Juan, you've always loved this building.
21:00
SPEAKER_02: Why don't you come buy it and go buy his share?
21:02
SPEAKER_02: I'm like, dude, I don't even know how to do that.
21:05
SPEAKER_02: Um talk to me about how you guys would look at that right now.
21:09
SPEAKER_02: Now, I know you told me because I asked you, and I'm I'm gonna say this.
21:13
SPEAKER_02: I called you one time and I'm like, hey, I got a referral for you, and it's a real estate office real successful, and you're like, eh, Live Oak doesn't like to do uh real estate business SBA loans or something like that.
21:25
SPEAKER_02: It was like an industry you guys don't like for some reason.
21:28
SPEAKER_00: Yeah, it's real estate.
21:29
SPEAKER_00: Okay, got it.
21:30
SPEAKER_00: So if you're a real estate broker, mortgage broker, uh, we don't like that as a business model because your income is too speculative.
21:41
SPEAKER_01: Okay.
21:42
SPEAKER_00: It's not that you're not eligible for SBA.
21:44
SPEAKER_00: That's just really a live oak thing.
21:46
SPEAKER_00: We just choose not to lend in that industry.
21:48
SPEAKER_02: All right.
21:48
SPEAKER_02: So let's just say that I wanted to pretend I wasn't a real estate broker and I was another CPA.
21:55
SPEAKER_02: Yeah.
21:55
SPEAKER_02: And I'm gonna take the spot of this other CPA.
21:58
SPEAKER_02: How would that look?
21:59
SPEAKER_02: Like, would Would we do a new SBA loan or so you're actually mixing two things?
22:05
SPEAKER_02: Okay, but hold on.
22:05
SPEAKER_02: So in this case, in this case, I'm not I'm not buying into the business.
22:08
SPEAKER_02: I I simply want to buy into the holding company of the real estate and then and then I'm gonna occupy.
22:14
SPEAKER_00: Okay.
22:14
SPEAKER_02: Pretend I'm not a real estate person.
22:16
SPEAKER_00: Yeah.
22:16
SPEAKER_00: So there's some layers to explain here.
22:19
SPEAKER_00: Okay.
22:20
SPEAKER_00: You can't do what you just asked.
22:21
SPEAKER_02: Damn it.
22:22
SPEAKER_00: You can't buy a fraction of a holding company.
22:26
SPEAKER_02: Uh if it holds real estate.
22:28
SPEAKER_00: So in the SBA world, there's a difference between a holding company and an operating company.
22:34
SPEAKER_01: Okay.
22:34
SPEAKER_00: So the business, you can buy a fraction of a business if if you're an outsider.
22:41
SPEAKER_02: All right.
22:41
SPEAKER_02: So let me okay.
22:42
SPEAKER_02: So let me ref.
22:43
SPEAKER_02: Okay.
22:44
SPEAKER_02: These two guys bought it, pretend they didn't do an uh an LLC, so they just owned it in like Paul and Jim.
22:51
SPEAKER_02: Uh and it's just those they're they're two names for the real estate.
22:55
SPEAKER_02: It's the same thing.
22:56
SPEAKER_02: Like, and then someone wants to come in and buy half of the real estate because they're going to use it for their office as well.
23:01
SPEAKER_00: No?
23:02
SPEAKER_00: No, so you can't do that.
23:03
SPEAKER_00: So let's let's back up and let me kind of unpack the partner buyout structural thing.
23:11
SPEAKER_00: So if you have two partners, say they're 50-50 in a business, one partner can buy out the other partner.
23:22
SPEAKER_00: Okay.
23:22
SPEAKER_00: That's well, that's how it's normally done.
23:25
SPEAKER_00: Got it.
23:26
SPEAKER_00: If you yeah, now if you have a holding company on that business that owns the real estate, one partner can also buy out that partner.
23:35
SPEAKER_02: Okay.
23:36
SPEAKER_02: What I'm doing is bringing in another partner.
23:38
SPEAKER_02: Right.
23:38
SPEAKER_02: So who's not a partner?
23:40
SPEAKER_00: I'm gonna get to that next.
23:41
SPEAKER_00: Got it.
23:41
SPEAKER_00: Okay.
23:42
SPEAKER_00: So you can have an external buyer buy a share of a business.
23:50
SPEAKER_00: But you cannot have an external buyer buy a share of a holding company.
23:56
SPEAKER_00: Okay.
23:57
SPEAKER_00: So business, you you can do that.
23:59
SPEAKER_00: Real estate, you cannot.
24:01
SPEAKER_00: Got it.
24:01
SPEAKER_01: Okay.
24:02
SPEAKER_00: Okay.
24:03
unknown: All right.
24:03
SPEAKER_00: Well, then that answers.
24:04
SPEAKER_00: Sorry.
24:04
SPEAKER_02: That answers right.
24:05
SPEAKER_02: Well, listen, at least you answered it.
24:07
SPEAKER_02: We reached out to the original SBA lender who did the loan, and he's like, Let me get back to you.
24:11
SPEAKER_02: Never got back to me.
24:12
SPEAKER_02: Yeah.
24:13
SPEAKER_02: I mean, give me the answer.
24:14
SPEAKER_02: I don't care if the answer is no, that's fine.
24:16
SPEAKER_02: I mean, business people get told no all the time.
24:18
SPEAKER_02: And business people, they're they're gonna have ideas like, well, I wonder if this is possible.
24:22
SPEAKER_02: I wonder if this is working.
24:23
SPEAKER_02: And and in this other case, we never got the answer.
24:25
SPEAKER_02: So so now I got the answer.
24:27
SPEAKER_02: Even if even if it's not the answer I want.
24:29
SPEAKER_00: Correct.
24:30
SPEAKER_02: Yeah.
24:31
SPEAKER_02: So um, if you're a real estate professional, you're like, man, Brandon just uh said LIBOA won't do them, won't do it, but but most other SBA lenders uh with 10% down will do it for a real estate company because I got two SBA loans under my go.
24:47
SPEAKER_00: Yeah, it's absolutely eligible.
24:49
SPEAKER_00: Got it.
24:49
SPEAKER_00: Every every bank has their own quirks and their own likes and dislikes of certain industries.
24:55
SPEAKER_00: Got it.
24:55
SPEAKER_00: So that's just one of ours.
24:57
SPEAKER_02: Our our last discussion point is gonna be uh growth by acquisition versus organic growth.
25:04
SPEAKER_00: Big topic, very important topic.
25:06
SPEAKER_02: Tell us tell us the difference.
25:08
SPEAKER_02: And I guess what's nice is because you're telling us how from a lending perspective it's gonna be viewed.
25:14
SPEAKER_02: So just tell us what the what separates the two.
25:18
SPEAKER_00: Sure.
25:18
SPEAKER_00: So when you're you know, your typical business owner, the natural thought process is I want to get more customers.
25:29
SPEAKER_00: How do I grow my business to do that?
25:33
SPEAKER_00: And they think do some more marketing, um, hire some new talent.
25:40
SPEAKER_00: They rarely think of buying out the competition.
25:44
SPEAKER_00: So growth by acquisition is kind of this untapped world that for whatever reason, most business owners just don't automatically think about it.
25:54
SPEAKER_00: They think, how do I grow from inside?
25:57
SPEAKER_00: I'm saying grow from outside.
26:01
SPEAKER_00: For those of you that don't know, businesses are bought and sold just like real estate.
26:05
SPEAKER_00: So if you own a plumbing supply business, there's gonna be some of your competitors that at some point they're they're they will sell or they'll want to sell.
26:18
SPEAKER_00: Yes.
26:19
SPEAKER_00: Or someone dies or someone retires.
26:21
SPEAKER_00: So keep your eyes open and sh you know shop around.
26:27
SPEAKER_00: There are business brokers out there who specialize in various industries.
26:32
SPEAKER_00: So let's say you're in the uh HVAC world, there are business brokers out there who just buy and sell uh HVAC uh businesses.
26:43
SPEAKER_00: So I can guide you more on this topic if you if you want to to discuss it, but just for right now, business brokers are your friend and you can use uh their knowledge, their listings to grow your uh business.
27:03
SPEAKER_00: So you can either buy out the competition or let's say you wanna you're thinking I want to start a business.
27:10
SPEAKER_00: I've always wanted to own my own company.
27:14
SPEAKER_00: The other kind of uh normal pitfall I see, and this is very common with people who don't understand that you can buy a business, is they say, I want to start a business.
27:26
SPEAKER_00: Bad idea.
27:28
SPEAKER_00: Sure, some businesses work, and some businesses when you start them from scratch, they're they're huge.
27:35
SPEAKER_00: But for lots of reasons, startups fail.
27:40
SPEAKER_00: So what's safer is buy a business that's already there, they've been there for five years, ten years, they're profitable, and it's really turnkey.
27:51
SPEAKER_00: You're buying this business, and on day one, you're making money.
27:55
SPEAKER_00: So if you're thinking about starting something, you've always wanted to own your own restaurant, your own whatever, very risky.
28:03
SPEAKER_00: You're much better off buying something that's already proven.
28:07
SPEAKER_02: So one of my mentors um says the same thing.
28:11
SPEAKER_02: He he said, It's so hard, it's so hard to start up a business.
28:16
SPEAKER_02: And listen, I I started Sage Real Estate, I started uh Sage Trust Mortgage.
28:20
SPEAKER_02: I'm starting a laundromat, my laundry business here soon.
28:24
SPEAKER_02: So I know what it takes, but like what my mentor would say is he said, um, if you buy the business, you buy all the years that they've been in business and you get to cut in line.
28:35
SPEAKER_00: Absolutely.
28:36
SPEAKER_00: You are leapfrogging so much pain and cost and stress.
28:42
SPEAKER_00: Yeah.
28:43
SPEAKER_00: If if they know what they're doing and the profits are are stable year over year, you're walking into a really good thing.
28:52
SPEAKER_02: Is there, is there, uh, and I don't know if you know this, but you know, when you talk about business brokers and their specialists, like like I like I have two business broker friends who will like um I refer business to because people will call me and say, hey one, um, family's got this restaurant, we really want to sell it, you know, found you on YouTube.
29:09
SPEAKER_02: Can you help us?
29:10
SPEAKER_02: And I'm like, man, I don't do business sales.
29:12
SPEAKER_02: And so I refer them to someone because that that that that person um has a good reputation.
29:16
SPEAKER_02: But I would say he's not a specialist, he just kind of does everything.
29:19
SPEAKER_02: And like, like, where can people is there a website to find business broker people?
29:25
SPEAKER_00: Like uh, you know, yeah, so there's a couple different paths you can travel here.
29:30
SPEAKER_00: Um, if you're shopping in a specific industry, all you got to do is search for that title online and add the word broker.
29:40
unknown: Yeah.
29:40
SPEAKER_00: So let's say you say you want to find um plumbing or uh HVAC businesses, go online, type in HVAC broker, and you will find people who just do that.
29:54
SPEAKER_00: Yeah.
29:55
SPEAKER_00: But the broker world's big.
29:56
SPEAKER_00: There's a lot of people who are kind of a generalist and they do everything, but there's also the kind of people who are specialists.
30:05
SPEAKER_00: Yeah.
30:06
SPEAKER_00: So reach out to all of them.
30:09
SPEAKER_00: Keep your options open.
30:10
SPEAKER_02: You know, it's it's funny that you bring up HVAC.
30:13
SPEAKER_02: I I I spend I don't do a lot of social media stuff, but um I do like Twitter, you know, so now known as X.
30:19
SPEAKER_02: Like I I just like it because there's so much business um tips going on in there.
30:25
SPEAKER_02: And people talk about these commercial commercial HVAC businesses all the time, like, hey, this is the way to kind of grow business because it's they see it as a as a great business model, you know.
30:35
SPEAKER_02: Absolutely.
30:36
SPEAKER_02: Um let me share something with you that I wasn't even going to bring up, but um it's been on my mind uh for over a year now.
30:45
SPEAKER_02: I used to worry if a business was recession proof.
30:48
SPEAKER_02: I now worry if the business is AI proof.
30:51
SPEAKER_02: Um, because I'll tell you, I'll tell you what, uh I believe that a lot of consultants, a lot of coaches, a lot of advisors, a lot of white-collar businesses, uh developers, engineers, attorneys.
31:04
SPEAKER_02: I mean, a lot of these professions were gonna be uh uh eaten up by AI, including myself, folks.
31:11
SPEAKER_02: So don't think I'm uh it's possible that in the future um you go to AI and you and you tell it, I want to buy an eight-unit building based on what's on the market, which property uh gives the best rate of return, or I'm a I'm a value add buyer, or you you're gonna tell it what you want and it's gonna say, here are the top three properties, then you tell it a little more, and then it tells you, I think you should offer this much for this price.
31:36
SPEAKER_02: Would you like for me to submit the offer?
31:38
SPEAKER_02: Brandon, I'm making this up.
31:39
SPEAKER_02: This does not exist yet, thank God, because I'm out of a out of a job.
31:43
SPEAKER_02: I'm gonna be out of a job soon.
31:44
SPEAKER_02: And and I've and I'm okay with that, right?
31:48
SPEAKER_02: And so then so then a couple things are happening.
31:50
SPEAKER_02: Okay, well, what things can't AI do?
31:53
SPEAKER_02: And there's a lot of things, you know, a lot of the blue-collar jobs it can't do.
31:57
SPEAKER_02: It can't be an electrician, it can't do H V A C it can't do plumbing.
32:00
SPEAKER_02: The two things you brought up, it cannot do that.
32:02
SPEAKER_02: It cannot own real estate, not yet.
32:05
SPEAKER_02: So, folks, I'm selling multifamily, I'm teaching people how to build wealth through apartment and real estate ownership by real estate.
32:12
SPEAKER_02: Why?
32:12
SPEAKER_02: Because it's the one thing AI won't compete with you.
32:15
SPEAKER_02: It's gonna compete with your white-collar job.
32:17
SPEAKER_02: I'm sorry.
32:17
SPEAKER_02: And I know you don't want to hear it.
32:19
SPEAKER_02: It's the truth.
32:20
SPEAKER_02: Now, here's the other part.
32:21
SPEAKER_02: Here's the most important part.
32:25
SPEAKER_02: In an industry, so let's just let's just take a um a software engineering company.
32:30
SPEAKER_02: You know, people will people will push back on what I'm telling them and they'll say, they're not gonna fire everyone.
32:36
SPEAKER_02: I'm like, yeah, bro, they're gonna fire 80% of the staff.
32:40
SPEAKER_02: Are you good enough to be 20%?
32:42
SPEAKER_02: And if you are great, then 20% stays, right?
32:44
SPEAKER_02: Okay, but the majority is gonna go away.
32:46
SPEAKER_02: This is this is what I honestly believe is gonna happen because I see how fast and how good AI is.
32:51
SPEAKER_02: Okay.
32:52
SPEAKER_02: Well, someone else said on on Twitter, they said 80% of white collar uh individuals, you're just smart people, highly educated, they were high salary, now they're without a job, they're gonna start buying businesses.
33:06
SPEAKER_02: And I was like, oh, they are.
33:09
SPEAKER_02: They have to.
33:10
SPEAKER_02: They're not just gonna sit around, they need to bring in income.
33:14
SPEAKER_02: And I think kind of small businesses and and SBA and how to acquire a new business, I think it's gonna, I think, I think you're gonna have uh in the next few years, a lot of people laid off.
33:26
SPEAKER_02: They got to figure it out.
33:27
SPEAKER_02: Now they're untrusting of going back into the corporate world because their job might be in jeopardy.
33:31
SPEAKER_02: Heck, I'm just gonna start a business.
33:33
SPEAKER_02: And I think that this whole is it AI proof is gonna catch on.
33:37
SPEAKER_02: Any thoughts on what I just said, Brandon?
33:38
SPEAKER_00: Yeah, there's actually a lot, not a lot, but we started to see this in certain industries.
33:44
SPEAKER_00: So, for example, marketing, consulting, um, graphics, AI can do all of that.
33:53
SPEAKER_00: Yeah.
33:54
SPEAKER_00: So if, and we have actually declined certain business requests because of that, because it's obvious that what they're doing, any smart computer can do the same thing.
34:05
SPEAKER_02: Uh, and better and cheaper and we're 24-7.
34:07
SPEAKER_02: I'm sorry, I mean, for anyone who's gonna, Brandon, in my industry, a lot of real estate professionals, when I when I tell them this, you know, I'm I'm asked now to speak at a lot of events, and and I do so monthly, just so that I could get better as a speaker and that kind of stuff.
34:21
SPEAKER_02: And I tell this to people, and they're not expecting me to say that.
34:24
SPEAKER_02: And then they feel like I've stolen their identity.
34:29
SPEAKER_02: Sure.
34:29
SPEAKER_02: I'm a real estate agent and I love it, and this is who I am, and they need me.
34:34
SPEAKER_02: No, they don't.
34:35
SPEAKER_02: I'm sorry.
34:35
SPEAKER_02: Uh get used to the fact that you're gonna be replaced.
34:38
SPEAKER_02: Yeah, that that AI could write the contract and AI can negotiate better than any of us.
34:42
SPEAKER_02: I'm sorry, and it could analyze the deal better and it's gonna tell them the schools, but I'm gonna open the door.
34:48
SPEAKER_02: No, because you're gonna punch a code and the and the door is gonna open.
34:51
SPEAKER_02: I it's you're gone.
34:53
SPEAKER_02: You're gone.
34:53
SPEAKER_02: Yeah, and they need to realize that.
34:56
SPEAKER_02: Um I cut you off.
34:58
SPEAKER_02: I won't let you what you're but but you guys are obviously seeing, hey, uh, let's protect ourselves against these businesses that we believe are going to be disrupted.
35:09
SPEAKER_00: There's even AI happening in banking and lending.
35:14
SPEAKER_00: Um I've heard different people in the AI space talk about things that are gonna happen within the next year or so, yeah, where people are even gonna be laid off from banks and lenders because AI can underwrite deals.
35:31
SPEAKER_00: Of course it can.
35:32
SPEAKER_02: I know it can.
35:33
SPEAKER_00: And this is all happening right now.
35:35
SPEAKER_00: Yeah.
35:36
SPEAKER_00: So it's it's it's real, folks.
35:39
SPEAKER_02: People tell me, people will pull me aside after I'm on stage and they'll say, Hey Juan, I I I uh I didn't like what you said.
35:46
SPEAKER_02: I'm like, hey, hey, well, I'm not trying to prove you wrong.
35:50
SPEAKER_02: I'm just I'm letting you know that I'm setting up my future differently because I may not be a real estate broker for much longer.
35:56
SPEAKER_02: And they're gonna say, Yeah, but that's years from now.
35:58
SPEAKER_02: I'm like, you don't understand how smart this thing is.
36:00
SPEAKER_02: And how fast it's moving.
36:02
SPEAKER_02: And how and how fast it's changing.
36:03
SPEAKER_02: I'm like, this is not a five-year wait, like, okay, hey, let me make what I can in the next five years.
36:09
SPEAKER_02: It's it's it's changing.
36:11
SPEAKER_02: So, so kind of back to um one of the first things you said, um, because it it kind of tied it in.
36:16
SPEAKER_02: And we were, and and and I'm glad you talked about acquisition and and organic growth.
36:21
SPEAKER_02: And and just organic growth is going to be the hard way to do it.
36:24
SPEAKER_02: Hey, I need better SEO.
36:25
SPEAKER_02: Um, I need to increase my my marketing budget.
36:28
SPEAKER_02: Uh, we need to network more, we need more lead pillars, uh, we need more products.
36:33
SPEAKER_02: So that's like you're trying to grow as a business internally, and which is which, Brandon, that's my life.
36:39
SPEAKER_02: That's that's what I do.
36:41
SPEAKER_02: What can I oh, if I do a YouTube channel, maybe it'll work if I do a podcast.
36:44
SPEAKER_02: And by the way, it is working.
36:45
SPEAKER_02: So from an organic growth perspective, I'm killing it.
36:49
SPEAKER_02: Okay.
36:49
SPEAKER_02: Sure.
36:50
SPEAKER_02: Okay, but could I go buy a competitor?
36:54
SPEAKER_00: I should, I should be thinking, well, I don't know now.
36:56
SPEAKER_00: I mean, because well, you could you can buy a real estate firm, you could buy a property management company.
37:01
SPEAKER_00: Yeah, yeah.
37:02
SPEAKER_02: So it let me ask you a question.
37:04
SPEAKER_02: So, um, because one of the first things you said is that you could help some.
37:07
SPEAKER_02: So now that we got people's attention of like, oh my gosh, I I I think I'm gonna go from being this corporate person to maybe being laid off based on what Juan and Brandon are seeing.
37:17
SPEAKER_02: Uh, maybe I should look into buy a business.
37:20
SPEAKER_02: You know, I didn't like having a boss, anyways.
37:22
SPEAKER_02: And yeah, I'll be my own boss, right?
37:25
SPEAKER_02: If someone wants to buy a business and let's just use plumbing, um, electrical business, or HVAC, or just one of those, okay.
37:32
SPEAKER_02: Drywall installer, I don't care.
37:34
SPEAKER_02: Roofing, commercial roofing.
37:38
SPEAKER_02: So someone gets laid off their corporate job.
37:41
SPEAKER_02: They were making$300,000,$200,000 a year.
37:45
SPEAKER_02: And they're like, man, I got geez, I'm gonna go buy a business.
37:48
SPEAKER_02: Can they can they use Live Oak as a bank to go acquire a business?
37:54
SPEAKER_00: Yeah, so I'll give you a few points on that.
37:57
SPEAKER_00: So if you have experience, which is really one of the key things that we look for, we want you to know how to do whatever it is that you're buying.
38:09
SPEAKER_00: Now, maybe it's you, maybe it's a partner.
38:13
SPEAKER_00: We can also finance the situation where one person has the money and the other person has the know-how.
38:19
SPEAKER_00: Okay.
38:19
SPEAKER_00: But let's say you're on your own, you've been working for a plumbing business for the last 20 years, you know how to do it well, you've just never run your own.
38:30
SPEAKER_00: So with potentially five to ten percent down, you can get into a new business.
38:36
SPEAKER_00: And we can finance these up to nine million dollars.
38:38
SPEAKER_01: Okay.
38:39
SPEAKER_00: So you do have to have money for a down a down payment, you do have to have some money in the bank following the acquisition, just so you're not spending your last dime on it.
38:50
SPEAKER_00: We want people to have some money in reserve in case life goes sideways.
38:55
SPEAKER_00: Um, but if you have legitimate experience in that field, it's possible that we can finance as much as 95%.
39:05
SPEAKER_02: Okay.
39:06
SPEAKER_02: You know, I'm worried about my white collar friends that are gonna get laid off that that are consultants or advisors.
39:12
SPEAKER_02: Like I I'm thinking they need to go buy a business, but they don't have, I guess in most cases, they're just not like I get it.
39:20
SPEAKER_02: If you're a plumber, already in the plumber, you're gonna buy a plumbing.
39:22
SPEAKER_02: Like, I get that, but what if you're just not in that industry just yet?
39:27
SPEAKER_00: So it depends.
39:29
SPEAKER_00: And it depends on the specific business that you're looking at.
39:32
SPEAKER_01: Okay.
39:33
SPEAKER_00: So we want people to have some kind of management experience.
39:37
SPEAKER_00: And I'll give you just one kind of real-world example.
39:42
SPEAKER_00: Let's say you want to buy a yogurt land.
39:45
SPEAKER_00: Yes.
39:46
SPEAKER_00: You don't have to know how to run a yogurt store, but you do know how how you do have to know how to manage people.
39:52
SPEAKER_02: So it's possible.
39:53
SPEAKER_02: So I'm just just using this example.
39:55
SPEAKER_02: Someone unfortunately gets laid off because AI took over, and they ran a team of 100 people.
40:01
SPEAKER_02: Yeah, they have leadership experience, and they they are legitimately really good leaders, good business people, good communicators, all the things that I think you would need in a for to run a business, that you'll take that into account in say a yogurt land, where maybe they're like, hey, that's good enough.
40:17
SPEAKER_00: Or even something bigger and more tech more tech technical.
40:21
SPEAKER_00: Let's say they're a CEO or a CFO.
40:25
SPEAKER_01: Yeah.
40:27
SPEAKER_00: You can buy a lot of companies because you know how to run a company.
40:32
SPEAKER_00: Right.
40:32
SPEAKER_00: So maybe we would let you buy a manufacturing business where you don't know how to make that widget, but you know how to run that widget company.
40:41
SPEAKER_00: So the specific experience matters and the kind of business you're buying matters.
40:46
SPEAKER_00: Yeah.
40:46
SPEAKER_00: But yeah, someone who knows how to do a number of things could theoretically buy a number of different kinds of businesses.
40:54
SPEAKER_01: Interesting.
40:55
SPEAKER_00: But if you're buying, say, a roofing uh contractor, you have to know about roofs.
41:01
SPEAKER_00: Got it.
41:01
SPEAKER_00: Yes.
41:03
SPEAKER_00: Um, certain businesses require certain know-how.
41:07
SPEAKER_00: Got it.
41:07
SPEAKER_00: Um, you know, or let's say you've been in the HVAC world and you've you've thought, you know, I always want to run my, I always wanted to own a bakery.
41:18
SPEAKER_00: No.
41:19
SPEAKER_02: That doesn't translate?
41:20
SPEAKER_00: No.
41:20
SPEAKER_02: No?
41:21
SPEAKER_00: Okay.
41:21
SPEAKER_02: Okay.
41:22
SPEAKER_00: All right.
41:22
SPEAKER_00: Yeah, I get it.
41:23
SPEAKER_00: Your want is there, yeah, but the knowledge is not.
41:26
SPEAKER_02: Yeah.
41:26
SPEAKER_02: I always think if you could run a business and you and even if you could run a business, you know, I tell people, listen, the reason why I'm not so scared that I may not be a real estate broker five years from now is I believe and I'm an I I believe on I'm an entrepreneur and I bel and I know that I can run a business.
41:45
SPEAKER_02: So whether it's this or something else, I I know what it took to get here.
41:49
SPEAKER_02: And what it took to get here is applicable to the next business, even if it's owning a bakery.
41:56
SPEAKER_02: But but but that's from my owner business mindset.
42:01
SPEAKER_02: It's not from the lending mindset, and I understand that.
42:03
SPEAKER_00: And this is a really important thing to explain to everyone out there.
42:08
SPEAKER_00: Bankers and lenders' logic is not normal people logic.
42:13
SPEAKER_00: Got it.
42:14
SPEAKER_00: Lenders are trained in the banking world in general, they're trained to see things as what could possibly go wrong and why would that happen.
42:25
SPEAKER_00: Okay.
42:25
SPEAKER_00: So if you don't know how to run a bakery, for example, chances are things could go wrong.
42:33
SPEAKER_00: Yeah.
42:34
SPEAKER_00: Let's say your your thought process is I can I can run a business.
42:38
SPEAKER_00: I've got three different chefs or bakers who are gonna be there every day.
42:45
SPEAKER_00: Well, what happens if two of them don't show up and you don't know how to bake?
42:50
SPEAKER_00: Now you're in trouble.
42:51
SPEAKER_00: Yeah.
42:52
SPEAKER_00: No, I get it.
42:53
SPEAKER_00: And that's how lenders think.
42:54
SPEAKER_00: Yeah.
42:54
SPEAKER_00: What could what could could go wrong and why would it go wrong?
42:57
SPEAKER_00: Right.
42:58
SPEAKER_00: Right.
42:59
SPEAKER_02: Brandon, uh, we're gonna continue to keep having you back.
43:02
SPEAKER_02: So so we're gonna cut this um interview short right now.
43:05
SPEAKER_02: I I want to thank you.
43:06
SPEAKER_02: And here's what I want to tell our listeners if if today's show was impactful, if you learned a couple things, I know that I did, and guys, I don't know everything, especially when it comes to lending.
43:16
SPEAKER_02: I'm guys, I don't wear a lending hat.
43:18
SPEAKER_02: I wear a real estate investor hat.
43:21
SPEAKER_02: That's the hat that I wear.
43:23
SPEAKER_02: If you would like this, and if you're watching me on YouTube, for sure leave a message.
43:27
SPEAKER_02: But really, what I want is I want you to screenshot um kind of the thumbnail from this interview.
43:33
SPEAKER_02: Tag me on Instagram at multifamily long beach.
43:36
SPEAKER_02: I want to see if you guys like this, we'll continue bringing this type of um um content out to you where where you guys get to learn, get to see our our our insights on how to grow as an entrepreneur, not just real estate, even though that's been primarily my message.
43:52
SPEAKER_02: Brandon, I want to thank you.
43:54
SPEAKER_02: What's I'm gonna give you the final say and let us know how they could get a hold of you.
43:58
SPEAKER_00: Sure.
43:59
SPEAKER_00: Um best way to reach me is actually cell phone.
44:03
SPEAKER_00: It's on my hip 949-751-8832 or email brandon.sandler at liveoak.bank.
44:17
SPEAKER_02: Folks, uh Brandon Brandon said he got about 50 leads from last interview.
44:22
SPEAKER_02: Let's let's triple that.
44:23
SPEAKER_02: Let's let's let's get his phone ringing, run, run your ideas by them.
44:27
SPEAKER_02: Hey, uh, I was thinking about what you guys said.
44:29
SPEAKER_02: What if I did this?
44:31
SPEAKER_02: And he'll tell you.
44:32
SPEAKER_00: Yeah, that's very important to keep in mind.
44:34
SPEAKER_00: Um, my goal is to help you, my goal is to sometimes teach you, but I want to make your life easier, better, and I'm happy to guide you along the way because SBA is a weird world.
44:50
SPEAKER_00: I've been doing this for 20 years.
44:53
SPEAKER_00: I still learn weird SBA rules every month.
44:56
SPEAKER_00: Yeah.
44:57
SPEAKER_00: So it's an odd world.
44:59
SPEAKER_00: Call me, let me help you.
45:01
SPEAKER_00: And um yeah, that's it.
45:05
SPEAKER_02: Awesome.
45:05
SPEAKER_02: Thank you guys for listening.
45:06
SPEAKER_02: That's all for now.
45:07
SPEAKER_02: Bye bye.