How to Buy a Business With No Money in 2024

Who do you think makes more money post-college: consultants and bankers, or people who buy businesses? You guessed it!

Today I'm going to be telling you the smartest way--hands down--to get to 5 figures of monthly income.

It is the best way to hit $10,000 per month. It has the lowest failure rate (which is especially important in 2023), allows for income on day one, and it's how the largest percentage of people on the Forbes 500 list made their money.

And it all starts with two words that I'm known for (comment below if you know what they are so I can see who's been doing their homework)! It's as simple as buying people's businesses, and using other people's money to pay for it. It's not only possible, it's necessary!

There are way more businesses than buyers, and today I'm going to teach you how to replace your W2 income by buying a business, how to finance a business by using other people's money, and the 4 different ways we can cash flow so you can buy your businesses.

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All content on the Codie Sanchez YouTube channel reflects my own opinions and should NOT be taken as legal advice, financial advice, or investment advice. Please seek out the guidance of professionally trained and licensed individuals before making any decisions. Some links in the description may be affiliate links.

[mikewright]

Love your videos Codie, I left my RN career 2yrs ago after a cancer diagnosis. I started my own fence business and did over 200k my first full year as a business. I was also voted Best Fence Contractor in Jacksonville FL 2022 with just myself. Thank you for post these videos. I am constantly sending your vids and shorts to my wife so we can become financially independent.

[kareemmiller]

100% agree with this! I bought a mid tier lawn company with seller financing and paid it off in 3 years with no interest and the business had plenty of profit to live on and build a savings. Prior to that, I built and sold a pressure washing business, I wish I bought a business earlier, would of save me time, money, and sanity

[Michael-vccs]

I'm in real estate so seller financing is something I'm very familiar with. It's a very tough negotiation in the real estate world because people need the money to buy another house usually. However, when I tell my friends about my searching for businesses to buy with no money instead of looking for a job to pay my bills they look at me cross eyed.
This is brilliantly explained and it is something the banks and financial institutions will never publish because they want to hold the keys to wealth.
Thanks Codie!

[mrbabyhugh]

6:27 seller financing mainly doesn't work out if the seller just wants cash right away. however, many are ok with it because, they really love the business, they want the cashflow but for various reasons they can't operate it themselves anymore. this is with much older businesses. all you really have to do with them, is convince them you love the business pretty much as much as they do, you will grow it and they will receive good compensation whether monthly, quarterly or whatever.

[LateNightJams]

Solid content. The next issue that isn't really addressed is how to find an operator from day one. Most of the businesses I have come across are owner operated. So if the owner is leaving, I can't run an HVAC or plumbing business. So, I would love a series (or even paid course if you must) on that. I feel like actually buying the business is not the hard part. It's figuring out how to run a business as a CEO, not operator, that is holding people back. That's the competitive advantage P.E. has over the 'little guy'.

[olgageorgsen]

With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly—which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $125k bond/stock portfolio

[truthdrone]

If you were here in person I would give you a big hug. Been trying to buy a business for a long time. Everything you said is exactly what I have been trying to do. I ran into the problem of not having the downpayment, but you addressed that. It is worth a shot to throw a letter of intent at a business if I like it. Thank you so much!!!

[timothyandersen]

As someone who digests hundreds and hundreds of hours of financial education through YouTube you are really good. Why were you not suggested earlier!? Thanks for the free education!

[IceColdfresh]

Love ❤ You Codie! Because of you I am no longer stuck in the 9 to 5 mentality. You changed my life! 🌹

[gunjanmodi]

Your videos are highly informative and consistently engaging. I appreciate that you covered the topic of seller financing and I am keen to delve further into this area. Would love to see some content related to this topic from you.

[ChrisMoSpeaks]

hahaha before Codie blew up.. I landed buying my first business using seller finance. It was crazy to think it actually worked. Love Seller Financing!! I wanna do it again hahaha

[Tyler-ltxh]

Having made offers on hundreds of deals.. sellers do NOT just say “hmm okay yeah sure have it for nothing down just pay me” they all want some sort of lump some. Always. Also, whether she thinks this or not, you can’t just go buy a plumbing or service business and think it will bring you money even if it did in the past. YOU NOW RUN IT. You better know plumbing. Literally nobody, and I mean nobody, owns a business and knows nothing about it. Just gurus making stuff up.

[veronicakaye]

Codie, thank you for sharing your time and knowledge with us. I have recently discovered you, and have been watching a ton of your videos and reading your content. This is all so new to me! Robert Kiyosaki said “most people want to be rich, but most people will never take the time to be rich.”

Thanks to you, my husband and I are looking to now buy a tire company. The owner sighed and said he guess he’ll probably have to close it so once we look at the accounting side (thanks to my mom!) we will look into purchasing it! Where we live, there are tons of people retiring but no one to buy. We thought we couldn’t because we didn’t have capital. Thank you for proving us wrong!

Also, please feel free to explain equity/debt 🙏

[DeanDD]

Absolutely love the content Codie! This is a huge help!

[edwardbussey]

Easily one of my favorite videos you’ve put out! Love watching your content

[martinslavik]

You are rare. You are talking about real money and you are telling the truh. Lots of love for you!

[TylerLeber]

Love your explanation on seller-financed acquisition. I didn't know about that, but it could easily be a win/win for business owners and acquirers.

It honestly just opens up the market more and allows for more of those businesses to actually sell. Crazy how so many businesses go up for sale but are never purchased! So sad that they just end up closing.

[tjmarvin]

Your content and methodologies are so fresh and fantastic on all things business. You rock!

[bettinabrandt]

Mind-mapping the flow.... I've done this once but it's been a long time and want to jump back in instead of shooting for another start-up. It really is a no brainer solution in regard to aiming for owner financing - Win/win!

[Courtney-Alice-Gargani]

This is a video I've been looking for. I'm looking to opening a business. I'm still looking at the pros and cons and what works best for me. Thank you, Codie.