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Acquiring Minds
First-Timer Buys 8-Figure Business 4 Hours Away
Dec 30, 2024
Nick Molina, a serial entrepreneur known for taking companies public and achieving multiple exits, shares his unique journey of acquiring a 275-employee property management business in Minneapolis, all while living in Miami. He discusses the pitfalls of start-ups, the importance of effective listening in sales, and why he avoids doing business in California. Nick emphasizes the value of family legacy in entrepreneurship and offers insights into using loan brokers for smoother acquisitions. His story reveals the thrill of navigating new ventures while managing established firms.
01:31:10
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Quick takeaways
- Nick Molina emphasizes the significance of partnering with a capable management team to facilitate remote ownership and ensure operational success.
- Strategic financing through seller notes and SBA loans played a crucial role in structuring his acquisition, aligning seller interests with business growth.
Deep dives
Nick Molina's Entrepreneurial Journey
Nick Molina, an accomplished entrepreneur with a history of multiple business exits, sought a new venture to channel his entrepreneurial energy. After taking a company public at 29 and recognizing the high multiples associated with larger businesses, he discovered the appealing world of entrepreneurship through acquisition. The low transaction multiples for small businesses captivated him, prompting him to purchase 'Buy Then Build' by Walker Dybel in April 2023 as a preliminary step in his search. By June 18, just two months later, Nick was under letter of intent (LOI) to acquire a well-established property management company in Minneapolis with significant revenue.
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Listen to the best highlights from the podcasts you love and dive into the full episode