Raising 50k, Foster care, Adoption
3 years ago some friends of mine decided to become foster parents
Not your typical foster parents:
- 25 and 26
- no kids of their own
- Neither of them had been adopted
- They knew they wanted to be parents
They just wanted to be a part
$1,024,200 and a Curious son
When my Dad was 30 years old he took a consumer protection case that changed his life
An old couple, Rodney and Darla, wanted the floors of their newly purchase mobile home redone
It had only been a few months and they had already warped
Hiring a Private Chef could net you 100k this year
Here's how my wife and I are doing it
Cost:
We agreed to pay 250 a week, which includes groceries
That puts us at 13,000 a year
We were already spending at least $100 a week for groceries so true cost puts us at
7800 a
$1100, Terrible Sales week, Getting Humbled
Tonight our company hosted a happy hour
We rented out a virtual golf spot, catered food, and just hung out (no real agenda)
Going into the night I’ll be honest I was kind of frustrated
We just had our worst week in sales since
I am buying a Christmas tree farm
This is a conversation I have with myself every November after Thanksgiving, I can't be the only one, and not because I want my own hallmark movie
But because these things have to print cash...
This year I finally did a deep dive
Turns out
My wife told me for years I needed a CPAP
But she’s a bit of a hypochondriac (working in medicine will do that to you)
So I more or less I ignored her (we’ve all been there with our spouses)
Finally on a bachelor party when I was sharing a room with a guy at 3 am he woke me
My wife tells me that I snore and I also frequently wake up in the middle of the night.
Any tips or personal anecdotes on fixing this?
CPAP seems scary.
I just picked up a $2308.97 check
Tonight we went out as a team to a nice steak house
Alcohol, steak, and dessert
14 people
$165 a person
Honestly we aren’t doing well enough this month
I didn’t want to go spend 2k on a dinner
Wanted to be be at home with my wife and
Closed on a Flip yesterday that will make me 100k in 90 days
Lets look at the numbers:
Purchase Price: $240,000 ($115 per square foot)
Renovation Budget: $95,000
Loan costs: $18,000
Selling costs:$26,000
ARV (After repair value): $480,000 ($230 psf)
This puts our profit at
I sold my Airbnb making 100K a year because I think its a bubble
In 2021 we bought an airbnb in Blue Ridge Ga It was a 5 bedroom that we totally redid and it with a peach theme
We named it the Giant Peach Chalet
Here were the numbers:
Purchased the property for 608k
Out
Had a 19 year old cuss me out today
Good kid, liked him in the interview
No experience but hungry
We hired him
Few weeks in wasn’t hitting his goals, when someone isn’t hitting their goals I always start with have we done everything we can do
Sat down with him asked him
Walked up to chipotle counter
Me: I’ll order a quesadilla
Chipotle worker: That’s an online order
M: What?
CW: You have to order that online, you can’t order it at the counter
M: What’s the difference?
CW: We don’t make it at this counter he (points 20 feet away) has to
I’ll spend 7k on therapy this year, because of days like today it’ll be worth it
Over the weekend a friend of mine asked a group of us if we go to therapy
“I go basically every week, I’ll spend about 7k on therapy this year”
Today is why
I woke up and I felt terrible, not
@sweatystartup
In general one person can’t be everything for another person
People need hobbies, friends, God
Marriage is supposed to a partnership not a solution to all your problems
Hiring a Private Chef could net you 100k this year
Here's how my wife and I are doing it
Cost:
We agreed to pay 250 a week, which includes groceries
That puts us at 13,000 a year
We were already spending at least $100 a week for groceries so true cost puts us at
7800 a
530k In debt and a 250k month
In May 2023 I signed a franchise agreement for Mighty Dog Roofing
I had been searching for a business to acquire for 6 months but after a few deals didn’t working out I got impatient and wanted to start building something
I heard of Mighty Dog
My guy who generates the most leads a day went to prison
He told me when I hired him, he asked if it was a problem and said he understood if I wanted to redact my offer
I told him honesty was big for me and I’d give him a chance
We set aggressive goals and he has blown them
The Catholic Church is the greatest Real Estate investment fund ever
And they never pay Taxes
The Catholic Church been acquiring properties since around 300 AD
That’s 1700 years of compounding
Their portfolio includes:
- 177 million acres of land (that's more land than
Cops got called on one of our sales reps
Yesterday one of my guys got to his appointment 15 minutes early
Usually when this happens you wait a few minutes, you don’t want to be too early
He noticed a pair of eyes looking out at him so he smiled and waved
Less than 5
Are you sleeping on SC?
The Best Carolina
3rd fastest growing state
Has Beaches ☀️and Mountains 🏔️
Right to work state
Carolina Girls (they have their own song)
Low cost of living
Some people call us the San Francisco of the Southeast (I’m those people)
Significant Real
Met with a guy who wants get into Real Estate Investing Today
He’s got enough money for a downpayment on a property but probably not enough for a multi family
I told him he should buy a single family and rent out the rooms
He told me he couldn’t do that because he’s married
Whenever I’m deciding to work with a partner I use the Waffle House rule
Our roofing business is launching next week and our office needs to be done by Monday
We had everything set up to be done 2 weeks ago, but if you’ve ever done a project that really needs to be done by a
Employee called me crying thanking me for their unexpected raise
Turns out my payroll provider paid my employees twice today
Everyone got double their standard paycheck
Entrepreneurship is awesome
$8000 April Water Bill
Today I went through my stack of mail to make sure we didn’t miss anything from the last two weeks
I suck at stuff like this, probably need to give it to our admin
Anyways saw our Water Bill
Was surprised because I thought I turned on paperless
“The FBI is where?!?”
Today I got a call that I never thought I was going to get
One of my reps (I hired a good bunch obviously) was being detained by FBI
This morning at 7 am the FBI knocked on one of our corporate housing units
They detained a 23 year old because someone
Cleaning Trucks and Self Reflecting
It has been a crazy week
We had 3 guys quit out of nowhere
Brought in 5 new guys for training
Installed 13 jobs this week
Signed around 150k in new contracts
I’m tired
Today my wife asked if I’d want to go to the drive in tonight
Well I spoke to soon
Our CRM that we are using is owned by a local competitor
Turns out they’ve been following up on all of our signed contracts and trying to take the deals away
Probably going to be a long night
People ask why I got on Twitter
In the last week:
- I spoke to a guy running a 9 figure roofing company for 30 minutes
- I was brought three 1 million plus EBITDA businesses to potentially buy
- I met with a family office who would potentially want to fund future deals with
Minimum wage to 6 figures in 30 days
In late December we had to rent a Uhaul, while my GM and I were talking to the rep my GM noticed the guy behind the desk was smart and hungry
He knew the answer to every question we asked and was on top of everything
My GM looked at him
FBI raid update:
Got a call from the FBI today asking for the permanent addresses and names of all my employees, subs, etc
I refused
As if that were not a plausible option I was asked to give my reasoning, why I didn’t want to help with this investigation
“Simply put, I
“The FBI is where?!?”
Today I got a call that I never thought I was going to get
One of my reps (I hired a good bunch obviously) was being detained by FBI
This morning at 7 am the FBI knocked on one of our corporate housing units
They detained a 23 year old because someone
3 am calls, Vacation as an Entrepreneur, Just hire a manager
I’m sitting here, about to get on a plane to go on my week “vacation”
6 months ago I launched our roofing company
On all fronts, except maybe back office organization, it’s going exceptionally well
At least that’s
What would you do?
For the last 30 minutes, I’ve been standing in line listening to a 22 year tell me how real estate and home services work, says he got his license this week
Best quotes:
“I’m not trying to brag but we did 15k this month”
“Purpose over profits, my business
Paid an employee in cash in October when our payroll didn’t go through
Now they’re saying I didn’t pay them and owe it to them
Stupid mistake, going to cost me money
Reasons why Roofing is a great business:
Need:
Have you ever heard of Maslows Hierarchy of needs?
Food, water, and shelter are the minimum
There is no such thing as a completely recession resistant product, but roofs are about as close as you get
High Ticket:
My
Employees wife had a miscarriage today
Last week he called me to tell me he was going to be a dad
Every time we’ve spoken since he’s told me how excited he was to be a dad
Sometimes life just sucks
Why the FBI raided my Roofing Company
In late September I started a roofing company
We started with 15 reps and hit the ground running
About a month later, I got a call that I never thought I was going to get
“Cole the FBI is here, they’re saying they’re going to arrest
19 year old cussed me out and it was my fault
Had to fire a 19 year old
Good kid, liked him in the interview
No experience but hungry
We hired him
Few weeks in wasn’t hitting his goals, when someone isn’t hitting their goals I always start with have we done everything we
Entrepreneurship can be Lonely
I’m probably on the phone 3-4 hours a day
Usually I’m answering a question, making a strategic decision, or networking
Friend of mine texted me today
“Hey man you got a minute”
I usually try to respond quickly when people reach out
A lot
Bruno Mars owes $50 million to MGM Casinos
Why would a casino lend a pop performer so much money?
Since 2016, the “Uptown Funk” songsmith has performed over 100 times at various MGM properties, making $90 million per year before taxes
He’ll now be performing for the next year
Welcome to Entrepreneurship
Where one phone call can derail your whole day
6:30 am Wife’s car wouldn’t start this morning, had to send her to work with my truck
7:30 Call GM, tell him I need to push our 8 am, figuring out car situation, I’ll be there by 930 to help with the
Cops made me $4,000 today
A few months ago a trailer was stolen from outside of our office
It was my fault, I left it over the weekend in an unfenced area
Had million things going on and it slipped through the cracks
That trailer cost me 4K
When we spoke to the cops
Sales guy, 50k a month, and the American Dream
I had a meeting with a guy that we are bringing on the team
First three sentences out of his mouth:
1. I’ve been in the US for 3 years
2. I’ll work harder than anybody
3. My goal is to make 50k a month
Moved here in 2020
When do you buy the 500k Dream House?
Since I’ve been married my wife and I have moved 6 times
Most of those was to buy real estate with a primary home loans
This is how we started to build wealth as 22 year olds
We worked a lot, rented out rooms to roommates, and moved
Brother is 26, engineer, probably one of the smartest guys I’ve ever met
Spoke tonight (we celebrated Christmas today) and realized he had a lot of bad assumptions about me
A lot of this has to do with me being a white christian who makes money (what many would refer to as
Life of a business owner
ADP called me this morning to tell me they had an internal issue so my payroll that was supposed to process at 9 am this morning had to be re run
After many choice words they guaranteed me it would go through today
At 430 pm, while I was on a
@mhp_guy
Also Learn how to understand risk
If you are worth 30 million your goal should shift from generating the most money to maintaining what you have
This isn't inspiring to me its sad
11 deals, $121,380, A step in the right direction
Last week we put up a goose egg in the sales department
For the first time in weeks, we literally had no traction
This week we:
- Signed 11 deals for $121,380
- Brought two installers in house
- Got another Truck wrapped
$506,744
October was a crazy month of learning, failing and trying here is my recap
Costs:
Spent 92,000
This was a mixture of some larger items (trucks, drones, insurance) that will not be a recurring cost
Expect overhead to be at 35-40k a month going forward
Employees:
How to Guarantee yourself Masters Tickets Every Year
The Masters is one of the most difficult tickets to get in sports
Unless you somehow are a select badge patron which gives you lifetime annual passes (the waiting list is so long that it closed in 1978)
Then every year
We are currently on pace for $1,000,000 in sales this month
Obviously it’s early, you don’t have to tell me, I’ve said it about 6 times since the beginning of the month
80k in signed contracts today
Puts us at 220k signed for the month of May
34k a day, on pace for a
You can’t teach Hustle
We bought our first truck for 22k
My general manager used to flip cars and came to me and said:
“I think we can spend a lot less on our trucks without sacrificing quality, is it okay if I take lead?”
Truck 2: $12,000
Truck 3: $7000 (we sold this one
Making a 90k bet on Marketing and hoping it pays off with a 1,000,000 month
In the next 30 days we are planning on launching 3 pretty significant marketing campaigns:
Commercials 12k a month
Google 12k a month
Doubling down on our call center, 6k a month
We will run
5 Sales Today
Better than all of last week
Best day we’ve ever had
Best part?
Our guys who’s been having trouble closing closed 3 today
Hard to believe that in order to get where we want to go today will become a normal day
Celebrate the wins and enjoy the ride
Everyone on Twitter thinks Buccees is the best Gas station, but it falls incredibly short to the real king pin, Wawa
Get ready to hear about one of the wildest pivots in business history:
Many think of Wawa as a gas station where you fill up your car
But did you know the
Should my 29 year old friend who makes $1,000,000 a year at his W2 leave his job?
A friend of mine is in tech consulting
Been doing it since college and just very much was right place right time
Interned at a consulting firm, got mentored by who would become the managing
If it weren’t for my middle school girlfriend Jenna, I’d be a billionaire
In 2009 I heard about this thing called bitcoin and thought why not put a few hundred dollars into it
Instead I bought Jenna a $200 necklace for her Birthday
Today that necklace cost me 13 billion
“You’re not successful enough to be a Visionary”
I met with two entrepreneurs today
Both two years out of college
Started a Junk removal business will probably do 400k this year
Hustlers who are trying to figure it out
They asked me a lot of questions, I did my best to
How the Mormon Church built a 100 Billion dollar tax free investment fund in Secret
For the last 50 years the Mormon Church built one of the worlds largest investment funds, and almost nobody knew about it
In the 1960s the Mormon church was building an office building,
2 million dollars by April and category breaking conversations
Today was a good day
- Just had a conversation that might rocket ship my biz
- We are about to hit last month numbers this week
- Have done 175k so far this week
If (and that’s a big if) we could repeat next
70 year old Cussed me out today
Apparently it’s just going to be a bad week
We’ve doubled our deal volume since last month, and brought on in house installers
Which is a fun way to say our fulfillment has gotten more complicated
As a result of this I’ve stepped into head
A friend of mine Killed themselves Today
We haven’t been close for a few years
They were doing some things, I told them they needed to stop, they self selected out of my life for the most part after that
I’m sure I’ll be playing those decisions back through my head for the
Everyone wants to own a Homer Service company, here was my day:
7am: Woke up to a call from a customer, upset because we didn’t paint a repair we did correctly
This will be the 6th time we’ve been to the customers house in the last 7 days, my repair crew didn’t seal the roof
Firing 28 employees and deciding something had to change
In the last 6 months I’ve fired 28 employees
Apparently sales reps is the hardest position to hire for, everyone in the industry told me high turnover was normal
But I was tired of it
So I did a deep dive into what
3 Decisions cost me 315,000 dollars Today
At 2 pm today a friend called me, "How was this morning?"
I think I spent 315k dollars...
I woke up this morning and immediately took 4 calls while driving to an appointment 30 minutes away
My GM has been trying to sell me on
Got a call from GM this morning
Apparently the wrong plans were given to our crew yesterday for the sun room we’re building
So we built the wrong sun room
Yes I’m doing awesome thanks for asking
I don’t know if I’m going to post this
It feels like a line that I haven’t crossed on Twitter yet
But I’ll write it out and if you’re reading it I guess I decided to post it
I haven’t slept in 28 hours so this might just be a result of my inhibitions being down
Here goes:
I guess I should do one of those intro posts
My entrepreneurial journey began when I moved to Charlotte NC to start a church of all things
Since I was a kid everyone had told me I was “entrepreneurial” whatever that meant
The only time I had ever really heard that word used
Spoke to a searcher this week who’s buying a franchise
Quote “I haven’t told anyone on Twitter because I’m kind of embarrassed”
They’re buying a smaller deal does a few 100k in revenue
They are putting down very little capitol (less than 25k)
Day 1 it’ll cashflow 50k a
Angry Husband, Door to Door sales, and an AK47
Yesterday my sales rep ran a normal appointment
He got to the front door knocked, and a man answered the door
Husband: “What are you doing here”
Sales Rep: Sir I have an appointment we set up last week, I believe with your wife,
Bad training, Worse news, and a 10k mistake
I got a call this morning from my crew lead:
Boss…
Yes?
We can’t do this roof
Why not?
There’s no roof….
Turns out the rep sold this deal over the phone, and had never been to the property (not how we train)
He quoted
What did I wake up to this Morning?
One of my employees called me at 3 am to let he ran out of gas and left the company car on the side of the road
Also he lost the key to his apartment and asked if I could front him cash for a lock smith
Ready for 2024
Today I’m 29 years old
Friday my Father would of been 61
I’m not a huge Birthday guy, probably for a lot of reasons:
- My family wasn’t very good at celebrating small things
- I don’t particularly love things being made a big deal if I don’t feel like they’re deserved
- I’m
Long week
Ups and downs
3 closes, all from me and my managers
Not generating enough leads
Had 4 employees ask me for an advance this week
Didn’t grow as much as I wanted on Twitter
Wife got upset because I dropped the ball on some things
Bank put a few large
Google business page will be the end of me
I’ve submitted this video of our office multiple times and it keeps getting rejected
It is literally our office….
I’ve sent utility bills with our address
I mean, what is this twisted game I’m playing
I have two properties I’m going to sell in the next 12 months
Appraisal is probably 310
Had an investor call an offer me 240k with 0% down and a 30 year amortization today
We will now never work together
Don’t waste peoples time
How a lack of effort will cost me $1,000,000 this year
One of the things that is both exciting yet frustrating as we build our roofing company is how bad we are at the basics
When I talk to other roofing companies:
-30-40% of their revenue comes from referrals
- Less than
We’re officially franchisees!
We may have gotten started a little early but it’s easier to ask for forgiveness than ask for permission
Hoping to hit double digit closes this week
It’ll come down to the wire
Today was the first time I was in town while doing a roof install
Cool feeling
Customer was happy with the result
Neighbor might go with us for roof, Solar, gutters
Signed lease on 4 corporate housing units today
Made some big decisions about our team and where we are
THE PLAYBOOK 3.0
How to Build a business worth millions of dollars with no money out of pocket in 36 months
Bookmark to make sure you can come back to this
This is 100% possible, I am doing it and have had many friends who have successfully done it 🧵
“This is terrible, I don’t know how you’re doing so well”
Just got off the phone with some consultants that we hired
“Cole can I be honest with you”
Yes man that’s why I hired you
“The fact that you’re doing this well with where you’re systems currently are is incredible”
$204,008
November, month two of roofing business, here is what I learned
Costs:
Spent 60,000
As expected costs went down, there will still some larger purchases on this balance sheet
I think I probably undershot my expectation overhead might be closer to 50k a month
Beat up van, Bed Bugs, and 50 million dollars
Everyone wants recurring revenue, but why take the risk of building out software
If you’re thinking about building a business from scratch, you may want to consider private equity darling pest control the SAAS of home services
Want to start a business?
We are putting on a new type of metal roof
The tech who is teaching us speaks polish
My crew speaks Spanish
So I’m translating, except the polish guy doesn’t really speak English
It was awesome no hiccups at all
Also one of my reps quoted a
Usher is paying to perform the Super Bowl
That’s right, he’s not getting paid, it’s costing him money
If that doesn’t explain the power of an audience I don’t know what will
$125,400, 81 hours, Unbelievably tired
I just got home, and I’m fried
Usually my posture tends to be one of “I will go until this is where it needs to be”
But that was tested this week
I stepped in over our fulfillment role
We brought in some in house labor and we
4 years ago:
- Just Bought my 1st Business
- Completed my first wholesale
- Acquired our 2nd property
- Became a Realtor
My whole life people had told me I was “entrepreneurial” I didn’t know what that meant, but I bought a shaved ice business and started learning real
Welcome to Entrepreneurship
Last Friday I met with four guys on our team
I’d heard grumbling, wanted to meet up and see if I could get to the bottom of it
Good conversation
Felt like we made progress, all four guys thanked me
I stressed the importance of just being
Installed our first roof today
7 days after sale
It’s also our first day of our in person training with corporate headquarters
Officially makes us the first franchisee to install before being done with training, might have a second before the end of the week
Kind of cool
The Long awaited Top ReTwitter accounts list is here
If you're new to ReTwitter or just trying to find the best accounts these are the top 10 accounts worth a follow
At this level everyone can argue about the order, but the list is irrefutable