Episode
#176 with Codie Sanchez - Buying Distressed Assets, Real Estate for Cheap & How to Network Like a Pro
1:01:45
Published: Wed Apr 28 2021
Description
Codie Sanchez (@Codie_Sanchez) joins Shaan (@ShaanVP) and Sam (@TheSamParr) for this brainstorm. Codie is all about businesses that cashflowing right away. She talks everything from buying distressed businesses to modular homes to buying real estate for pennies on the dollar. She doesn't shy away from controversial thoughts either: she lays out why angel investing is dumb and why public stock investing is as well. We end the episode with some great stories on "how to collect people" (basically network like a champ) and what financial freedom really means. --------- * Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/ * Support the pod by spreading the word, become a referrer here: https://refer.fm/million * Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas. --------- Show notes: * (0:38) The guys recap the Balaji podcast * (5:08) Codie explains what she does and how she got there * (15:03) Owning mailing centers & pack and ships * (21:12) Buying distressed assets for $0 * (23:54) The big ROI on tiny homes * (28:44) Codie's controversial thoughts * (37:16) Buying RE at auction * (43:01) How to collect cool people * (54:15) How Shaan and Codie view financial freedom
Chapters
The speaker recounts a conversation with someone who he believes had the highest IQ he’s ever encountered.
00:00 - 04:41 (04:41)
Summary
The speaker recounts a conversation with someone who he believes had the highest IQ he’s ever encountered. The individual attempted to hide his intelligence but used advanced terminology and math metaphors in normal conversation.
Episode#176 with Codie Sanchez - Buying Distressed Assets, Real Estate for Cheap & How to Network Like a Pro
PodcastMy First Million
The hosts struggled to steer the conversation at first but eventually had a productive, three-and-a-half-hour dialogue with the guest.
04:41 - 09:33 (04:52)
Summary
The hosts struggled to steer the conversation at first but eventually had a productive, three-and-a-half-hour dialogue with the guest.
Episode#176 with Codie Sanchez - Buying Distressed Assets, Real Estate for Cheap & How to Network Like a Pro
PodcastMy First Million
The speaker describes their experience witnessing the process of old people being left behind at the border and the phenomenon of Boomers handing over profitable businesses to younger generations.
09:33 - 13:08 (03:34)
Summary
The speaker describes their experience witnessing the process of old people being left behind at the border and the phenomenon of Boomers handing over profitable businesses to younger generations.
Episode#176 with Codie Sanchez - Buying Distressed Assets, Real Estate for Cheap & How to Network Like a Pro
PodcastMy First Million
The trend of investing in low operation rental units has led to the innovative idea of shrinking self-storage to a single one square foot box that can be rented for $20.
13:08 - 17:52 (04:44)
Summary
The trend of investing in low operation rental units has led to the innovative idea of shrinking self-storage to a single one square foot box that can be rented for $20.
Episode#176 with Codie Sanchez - Buying Distressed Assets, Real Estate for Cheap & How to Network Like a Pro
PodcastMy First Million
The build vs buy debate is often biased towards building, however sometimes buying a business can be a better option.
17:52 - 21:38 (03:46)
Summary
The build vs buy debate is often biased towards building, however sometimes buying a business can be a better option. Purchasing a business can be seen like buying stocks and can be beneficial for entrepreneurs who want to run a successful company.
Episode#176 with Codie Sanchez - Buying Distressed Assets, Real Estate for Cheap & How to Network Like a Pro
PodcastMy First Million
The podcast explores the fitness business amidst the pandemic and the idea of modular homes.
21:38 - 27:17 (05:39)
Summary
The podcast explores the fitness business amidst the pandemic and the idea of modular homes.
Episode#176 with Codie Sanchez - Buying Distressed Assets, Real Estate for Cheap & How to Network Like a Pro
PodcastMy First Million
The speaker suggests that before a person starts their journey with angel investing, they should establish their credibility by making a few million dollars and creating a due diligence questionnaire for potential deals.
27:17 - 33:38 (06:21)
Summary
The speaker suggests that before a person starts their journey with angel investing, they should establish their credibility by making a few million dollars and creating a due diligence questionnaire for potential deals.
Episode#176 with Codie Sanchez - Buying Distressed Assets, Real Estate for Cheap & How to Network Like a Pro
PodcastMy First Million
Having an unfair advantage is crucial in investing in the stock market.
33:38 - 37:21 (03:42)
Summary
Having an unfair advantage is crucial in investing in the stock market. The big players have tools and resources that small investors don't, so it's important to evaluate your own strengths and advantages before investing in any stocks.
Episode#176 with Codie Sanchez - Buying Distressed Assets, Real Estate for Cheap & How to Network Like a Pro
PodcastMy First Million
This podcast talks about the strategy of purchasing properties in foreclosure and the importance of auctions for bankrupt properties, and how it can benefit the seller and the buyer.
37:21 - 42:17 (04:56)
Summary
This podcast talks about the strategy of purchasing properties in foreclosure and the importance of auctions for bankrupt properties, and how it can benefit the seller and the buyer.
Episode#176 with Codie Sanchez - Buying Distressed Assets, Real Estate for Cheap & How to Network Like a Pro
PodcastMy First Million
This is a string of unrelated fragments of conversation with no clear context.
42:17 - 49:32 (07:14)
Summary
This is a string of unrelated fragments of conversation with no clear context.
Episode#176 with Codie Sanchez - Buying Distressed Assets, Real Estate for Cheap & How to Network Like a Pro
PodcastMy First Million
This podcast discusses the concept of seeking a mentor as a form of procrastination and highlights the importance of acknowledging this behavior.
49:32 - 53:29 (03:56)
Summary
This podcast discusses the concept of seeking a mentor as a form of procrastination and highlights the importance of acknowledging this behavior. It's important to recognize that seeking mentorship is often a way of avoiding taking action and that a mentor may not be the best solution to one's problems.
Episode#176 with Codie Sanchez - Buying Distressed Assets, Real Estate for Cheap & How to Network Like a Pro
PodcastMy First Million
The concept of financial freedom is often tied to a person's skill stack, as it can impact their ability to choose projects based on other criteria rather than solely financial gain.
53:29 - 1:01:43 (08:13)
Summary
The concept of financial freedom is often tied to a person's skill stack, as it can impact their ability to choose projects based on other criteria rather than solely financial gain. A strong skill stack can allow for a mathematical definition of financial freedom where investments can sustain one's lifestyle without traditional income.
Episode#176 with Codie Sanchez - Buying Distressed Assets, Real Estate for Cheap & How to Network Like a Pro
PodcastMy First Million
Summary
I don't wanna hide it. Yeah. Yeah. Yeah. Yeah.