Building Wealth Through Boring Businesses and Other Contrarian Ways To Live and Invest with Codie Sanchez

Partner Deals Long Angle: Join a free private community for high net worth investorsLMNT: ⁠Free sample pack of my favorite electrolyte drink mixFora: Become a Fora Advisor todayThrive Market: ⁠30% off your first order of organic groceries + a free $60 giftBilt Rewards: ⁠Earn the most valuable points when you pay rentFor all the deals, discounts and promo codes from our partners, go to: allthehacks.com/deals#119: Entrepreneur and investor, Codie Sanchez joins to discuss unconventional ways to create wealth through often-overlooked “boring” businesses like laundromats, car washes and vending machines. She also shares her expertise in the art of deal-making, financing options for buying a business, diversifying investments, and applying contrarian thought into our daily routines and relationships.Codie Sanchez (@CodieSanchez) is the founder and CEO of Contrarian Thinking, a media company and newsletter dedicated to challenging traditional investing norms and empowering individuals to think differently about wealth creation. She is currently on a mission to create 100,000 business owners, and 1,000,000 financially free humans.Link to Full Show Notes: https://allthehacks.com/boring-businesses-codie-sanchezPartner DealsGelt: Skip the waitlist on personalized tax guidance to maximize your wealthRocket Money: Easily cancel your unused subscriptionsInside Tracker: 20% off personalized wellness & nutrition plans backed by scienceAthletic Greens AG1: Free 1 year supply of Vitamin D and 5 free travel packsMasterClass: Learn from the world's best with 15% offFor all the deals, discounts and promo codes from our partners, go to: allthehacks.com/dealsResources MentionedCodie Sanchez: Website | Newsletter | Twitter | Instagram | YouTube 10 Step Deal Journey Marriage Check-in: T.E.A.M. Life Hacks: 1 in 60 Rule | Doing Less | 12 Simple Habits ATH #91: Die With Zero: Net Fulfillment Over Net WorthWhy Japan is Giving Away Profitable Businesses for FreeBiz ScoutOutlive: The Science and Art of LongevityBill Perkins's Book: Die With Zero: Getting All You Can from Your Money and Your LifeVirtual Executive Assistants From Oceans XYZFull Show Notes(02:31) Challenging the Status Quo with Contrarian Thinking(05:50) Codie's Inception of Investing in "Boring" Businesses(08:50) Is Buying Small Businesses for Everyone?(10:59) Buying a Business as a Full-Time Gig vs. a Side Hustle(14:46) The Reason Why Buying Boring Businesses Isn’t Popular(16:52) Do You Need to Be an Expert to Buy a Business?(17:41) The Importance of Deal Making(21:48) Why Deals Go Wrong(23:57) An Example of a Bad Deal(26:08) The Success Rate of Buying Small Businesses(31:50) Seller Financing(32:47) Finding Small Business Opportunities(35:33) Why Terms Are More Important Than Price(36:22) Playing the Right Games(43:37) Diversifying Investments(44:29) Points & Miles: A Side Benefit to Owning Businesses(50:08) Where & How to Invest Your Time(55:13) Aiming for Bigger(59:58) External Financing(1:03:01) Outsourcing Virtual Assistants(1:09:45) The TEAM Rule for RelationshipsConnect with All the HacksAll the Hacks: Newsletter | Website | Membership | EmailChris Hutchins: Twitter | Instagram | Website | LinkedInEditor’s Note: The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.