87. Don’t Invest Your Eggs in One Basket

Today’s guest brings his expert insights to The Prosperity Perspective, with experience investing in, acquiring, and then managing 26 different companies in diverse industries, from real estate to software to call centers. How does he go about managing them all, and in niches outside of his specialization? Xavier Lopez shares today how he learned as he went, including some of the things he wished he would have known about running a business from square one. Hear why you should invest back into the company first once you begin to allocate extra cash and be prepared for tax season, regardless of what you think the cost will be. Learn how he identified what companies he would invest in by addressing important factors such as “What are my recurring contracts?” Last, gain his top advice to entrepreneurs looking to begin their investment journey with cash just coming down the pipeline. 3 Key TakeawaysDo ample research on a business before acquisition; Xavier learned the hard way that just visiting Biz Buy Sell isn’t enough.You know when to stop investing in a company when it reaches a point where you no longer have to be there. Start investing your extra cash by putting it back into the business and preparing for taxes, no matter the expected cost. ResourcesLinkedInAbout Xavier LopezXavier Lopez started his real estate career with a text message from his best-friend-now-business-partner. From there they became residential real estate developers who use all real estate earnings to acquire business to increase cash flow and use business earnings to fund real estate projects.