On today's episode of Gathering the Kings. If somebody was trying to close an 8 or 9 figure transaction, I felt like I had to be there. And as a result, My marriage was in distress. 2016. I was on the brink of divorce. I thought Hillary Clinton was gonna get elected, and the market was gonna crash. I was wrong. But what that meant is I needed to make some big life choices.
I Chaz either continue being successful in business and having all the outwardly flashy success or get right with my heart and all the other stuff that was truly life. And that's where we transitioned. You are listening to gathering the kings with Chaz Wolfe featuring fellow 78 and even 9 figure business owners who have real battle scars from business and life, but have prevailed as the king that they are designed to be.
We welcome high performing entrepreneurs to the stage in order to reveal the reel of the reel. On what it takes to build a successful business today. We dissect the good and bad decisions they've made and how you too can get there. Through this dialogue, you will learn the value of growing your network and surrounding yourself with power players and keys like today's guest. Grab your pen and notebook because we're about to dive in. What's up, everybody?
I'm Chaz Wolfe, gathering the king's podcast. We've got Keith Blackboard here on the king stage. How are you, brother? Hello. Hello. Thank you for having me. Yeah, man. We were just talking off air. I love guys like you. They're like, yep. Yep. Good. Let's roll. So Here we are. We're rolling. We got the recording button going. Keith, tell us what kind of a business or, in this case, businesses that you're in and why you're here. So the primary reason I'm here is because you asked me to be here.
Love it. Secondly, then I'm I have a business that helps business owners reach work in 3 to 5 years. Yeah. I would love to give you just a 30 seconds to tell us what that means. So that way these people, as you're giving them advice throughout this podcast, they they know who they're listening Sure. And maybe I'll share my story because that plays nicely into it at some point.
But, yeah, in short, I help business owners, somebody who's ideally making at least a half $1,000,000 a year, take their business and turn it into something that is sellable to true business that operates without them. That's part of the process. And so the 1st 2 2 years, we're looking at your financials. What do we need to do? Put systems and processes in place so you can step out of the business and then you've got a choice.
You can either turn it into a lifestyle business taking maybe 5 to 25 hours a week or you actually sell it. And because it's a true business that operates without you, you can get a much higher multiple for it. And then we're looking at how do we maximize the sales price how do we create favorable terms for you and the buyer when applicable, and how do we minimize the tax consequences?
Secondarily, along the way, my my real expertise is helping people build an alternative portfolio of investments ones that cash flow in line with your goals and how do you manage Chaz alternative portfolio investments? Most financial advisors will just sell you on a series of products They don't actually know how to do what they do. They put it all in the software.
The software tells them something, but they don't really know how to manage that and that's really what I love to do is introduce people to great investments. A lot of clients are earning 15 to 20 percent plus internal rate of return, and so it allows for some really significant results. 100%. I love it. What I got most from just to give this a crew here of the audience, such as some authority for you, is that you understand business.
Understand the tactics of how to grow, and you can long term plan, not only just around the exit, but also around taxes. And then, of course, taking those earnings and put them into a long term legacy play. I'm all about all of those things. That's why I wanted you to be here, bro, because, bro, we line up like it's Like, we were, like, we were born from the same mama. So, let's jump in here and talk about some of your story. How did you get to where you are?
Like, tell us the beginning of how you even got started in business. I'd love to know. Sure. So start with a job out of college. I went to work for Bloit, in San Francisco and was a CPA for them. And I feel like every year you're with them, it's worth 3 years some place else because they have you work 70 to 100 plus hour weeks. And by the end of it, I was doing 9 months of busy season and just up and quick because there's no life doing that.
So I went from that to moving to Dallas My wife was from this area. Got a big promotion to move back here, and that was in 2009, 2010 rolls along. And the real estate market has crashed, went to a Robert Kiyosaki conference learned about this thing called real estate houses, all that stuff. And so didn't necessarily sign up for his program, but signed up with something else that was more local. And along the way, we started flipping and buying rentals.
In 2013, we transitioned to active and passive investments in hotels and apartments. And that was a commercial real estate was a huge accelerator for net worth. Meanwhile, my while my wife was managing the real estate, I was growing a business focused on high net worth apartments indicators. So the most complex stuff I got, I took some strategies.
I had learned from Deloitte and was able to really do those focused in on apartments indicators to allow a lot of people to say 5 to 10% of their adjusted gross income. Fast forward, we had been growing a 100% every year through 2015. I had 5 employees, 400 clients, not simple clients. These are tax returns with a 100 to 200 investors in some cases. And so there are a little bit of work. We would go on vacation. I try and leave, but despite having the staff, I can never get away.
If somebody was trying to close an 8 or 9 figure transaction, I felt like I had to be there. And as a result, my marriage was in distress 2016. I was on the brink of divorce, I thought Hillary Clinton was gonna get elected and the market was gonna crash. I was wrong, but what that meant is I needed to make some big life choices.
I Chaz either continue being successful in business and having all the outwardly flashy success or get right with my heart and all the other stuff that was truly life, and that's our retransitioned. 2017, 2019, there were some stuff that my wife and I did to just reconcile and work through that. We went and just traveled the world for the next 2 to 3 years. So we had exited our projects. Trump was in office, very favorable tax consequences.
So we were able the sellout and recognize low tax bills as part of it. And I think I'm pretty savvy with taxes. And so from there, we just traveled. We had fun. We went every continent except Antarctica. We got the best souvenir we could have, and that was our son who is now three years old. And then at the end of all that, I was like, if I wanna make a lot of money reliably, I go back to commercial real estate syndication.
If I wanna help people, then financial journey where I get to help people reach work option in 3 to 5 years. And although there is wealth, that's why most people come to me. For me, it's really about the life. And if I can help people have that better life, wealth itself is just a tool. It's just money. More money doesn't make you happier. And that's why it's really gotta be at the life and the end, and that's why I do what I do. Wow. I feel like you've done that before.
It was so smooth, and I just just got to hear your story, but, dude, there's so much inside of there that we need to unpacked because you took us through an up and down and a twist and around and around. I think a lot of people can relate before we dive further into this or that or the other end of your story, I'd love you you gave a little bit of, like, why you're pushing now. But what, like, at this moment in today, like, you you probably have enough. The net worth's enough.
You probably have enough passive income. Like, you probably don't need to be doing much, but you do. And I wanna know why. So there's a reason why I no longer try and help people get to retirement. I learned I I realized most young people I was a millionaire before age thirty. I declared work optional at age thirty two and didn't have to do anything else, but I transitioned to work optional because I found people like to have the option to work. I like helping other people.
It may sound strange, but I actually like talking about tax strategy and wealth strategy And at least now I get to have it with people that can understand it because the Uber drivers get tired of hearing about it at some point. And so I would give this stuff away for free if at some point. And now I've got a form in a community as part of that. I learn while traveling the world Wolfe as much fun as it is. It can also become lonely at times.
Unless you're traveling with a community when it's just your wife and I, you'll meet people along the way. You may even be able to hang out with that group of people for up to a week, but then usually you both move on to the next place and that's it. And financial journey selfishly also gives me a community of people to travel with. So we're doing like a master mission trip to Guatemala in October.
I'm running out a castle next spring in Italy for people just to come hang out at and that's some of the fun stuff. And I try and do it in a way that I can actually bring my family along too. I want other people to be able to include their families, and that's where I feel like I'm a little different than other folks as the it's often usually the husband that goes off. It's just about work, and I really need it.
I want an environment that's also conducive to family ships, and this actually adds to family, so it takes away from it. Yeah. I love that. I appreciate you giving us the deeper seed there. It plays a lot into how we're designed, and that's basically what you said there is that it doesn't have to be about hanging it up. It can just be about choices. So I I love that perspective. Okay. Inside of you growing and building and changing. You already mentioned that there was ups and downs.
I would love to know a very key moment in time Chaz was a good decision that you made that maybe you can look back on now. We can write down, taking notes here of something that we can learn. Good decision along the way. I think knowing when to quit your job for me. And when I moved to Dallas initially, I was working for some former Deloitte partners. And I kept asking questions. I was always very inquisitive. Probably a pain in the butt to my bosses, but I learned really quickly as a result.
And so when they could no longer answer my questions and I was involved in something else where I could get my own clientele, I knew the moment I had control over sales or I could attract people to me as customers. That was my time to start my own business. Yeah. And once you decided to do Chaz. What was for the person listening right now, there's 6 figures most likely. They're trying to go to 7.
So they've made that decision or potentially they're maybe they're running their side hustle, and they've got a 6 figure side hustle. But if they've already left like you did, How did that vein, what you just described? It was like a certain level of confidence, but yet curiosity. How did that play into that 1st year, 2, 3 of the business for you. So what it meant, my my story is a little unique in that I left the CPA.
I left to go on my own and I went to work with somebody else with the agreement that I could work on my stuff on my own. So that 1st year I was completely on my own. I probably made 40 to $70,000, which was, I think, I don't know, was probably making just a little more than that in salary the time 10, 15 years ago. As a result, I didn't quite have the confidence to quite do it on my own. I went off since I also had the real estate background and more than one skill.
I was director of acquisitions for a hedge fund over the next 9 months, bought 875 houses for them. And then when that project was wrapping up, is when I knew that my other clientele had bolstered. I felt like I was working 2 jobs, but it was while I was a stress full year. I then knew the 2nd year round that I was good. And the 2nd year, I more than doubled what I had made in the 1st year, and it was plenty for me when I also Chaz my other real estate stuff.
So it gave us the confidence to keep going. Yeah. Yeah. I guess what I'm pulling from the kind of the continuation of that decision is that you didn't make any rash decisions. You didn't make any emotional decisions of leaving the job too soon. Even inside of the business, you just stuck it out long enough to be able to successfully have your own thing, which probably just meant it gave you the confidence.
So not only leave, but then to, like, actually pursue, and there wasn't like this, oh my gosh, are we gonna make it? Cause you had already gone through that. The difficult year piece. So that difficult year, it was probably 2011, 2012, and then not following year, my wife had been working for a real estate education group, and she had kinda we see all that path there, but we really saw a greater growth real estate. And so that's what gave her the confidence now that my business was stable.
We knew that was coming in. She could then leave her job to go do real estate full time, and that was another huge accelerator for us. And at this point, we didn't have kids. We didn't have any distractions. So for better or for worse, it could be completely about work. Yeah. Exactly. Okay. Let's flip the coin here and let's talk about a bad decision that you made. Let's just get right to the gist. Sure. Probably 2 big ones.
One getting the only focused on work, and my wife and I, that's what bonded us. If we were talking about something, it was about work. And along the way, there were some other things I was going through. So all of that that stuff accumulated into us almost being out of divorce.
And while that was a bad decision to get there, what was probably the good decision was to make a really hard vision, kill my pride, and all the people that I felt very important to, and sell my CPA business not continue to grow. Let go of some of the real estate, which had I held on to, what I would have just continued to grow for another 6 years or so, at least through 2022, And then I was also trying to make big decisions about guesses on the market.
Hillary Clinton was slated to win the elections. Interest rates were taking up mid 2016. I thought at the time, everybody was saying real estate cycles or economic style goals typically last 7 years. Okay. We're coming up on that. All that to say, now is the time to sell, and I was so wrong in doing so. Wolfe it was maybe a bad decision from a wealth perspective, it was a very good decision from a personal perspective. Yeah. That's what enabled me to go travel. We had plenty of money.
I was able to transition funds to some former CPA clients in mine who I knew who all the best performers were. Chaz worked out really well for us. And it would probably maybe stunted some more of our wealth growth, but our life, our happiness was much better. There were some bad decisions, but it led to some good results in our case. Yeah. Yeah. Well, I love how you distinguished. Hey. Maybe it was bad for the wealth creation, which it didn't stop that.
It didn't say you're either choosing this or that. It just in that moment, it sounds like you knew what you needed to do. And the turning of the market or at least what you thought it was gonna turn to. It just gave you permission to go, okay. Let's go now. It would do you think that decision that you were made for your family, really. Do you think it would have been harder knowing that it wasn't slated to be?
Like, if you had known Trump was gonna get in and appreciation gonna go through the roof and take me to that level. You're right. It I think it woulda Chaz it thought about it like that, but I think it would have been harder knowing that had I doubled down them? Because I know people that have gotten in the market since 2016, 2018 who are inexperienced them then, and I know how big they are today. Had I stayed in as an experienced operator.
I've got some specific people in mind that I worked with who were around the same place or maybe a few steps ahead of me. Have 7 to 10,000 units plus now easily worth depending on who I'm thinking about 30 to 80,000,000 net worth personally. And so I'm I've got some success, but I'm not at an $80,000,000 net worth, but I also see where they're at now and they're also Chaz still caught up in business and very busy. So it was also a lifestyle decision.
It's tough to say, but it would have certainly been harder knowing the tens of 1,000,000 of dollars worth of growth I would have been getting up. Yeah. It's in these moments now looking back so that we go. It's probably best that I didn't know. It's probably best that I didn't know because you're what you've alluded to, and we've tapped on it a couple of times, is that the way that we're designed, guys like you and I, guys that are probably listening, is that we just go and we love to go.
There's there's no, like, uncertainty of do I go? Do I not go? It's I wanna go a 100% all the time every day Yeah. And that doesn't always line up with necessarily how it looks like in other spheres. We just gotta eventually over the time how to figure out how to go fast in marriage, how to go fast as a dad, how to so maybe speak on that for a second. I'd love to know Yeah. Since then.
Yeah. So since then, there was something that came out of a mastermind my wife and I were in, and it's a realization that maybe I'm a race horse. I like to go fast. And she's just at a different pace. Nothing wrong. She's got different priorities. She's very relationship focused, and she I would not be who I am without her. 100%. However, with me being a race force when it comes to being task oriented means I can get a lot done very quickly where I can grow very quickly.
And what that means for me is we need a regular rhythm where I slow down and I connect with her. There's also boundaries put in place as I've gotten back into work. About both time boundaries, try and make some boundaries about headspace. If I'm asking to leave for whatever reason with her and the 2 kids, it better be a good reason, and they're pretty infrequent. And so it's me.
I get so an agreement is now I get to be a resource but as fast as I can or want within these boundaries, but we've still got a regular rhythm of trying to check-in together. Yeah. What you just described is, like, the entrepreneurial utopia for outside of the business. Right? Yep. How many conversations or was it, like, knock out? Like, how did you get there, man? I had these conversations with my wife. I know. But for the listener right now, he's got too many hats. He's struggling.
He's got sales. He's got marketing. He's trying to do the jobs. He's or the whatever. He's just trying to grow. But he's hearing this other thing over at home about kids and or she is hearing it from the husband. Whatever the scenario is that they're in. How did you have these conversations with your wife? So one, I don't think I'm that articulate in the moment. Usually, when emotions are going, I we're both trying to figure this out.
And one of the biggest things to just step back macro level whenever I'm trying to improve something or get better or focus on something, it's impossible to focus on everything that violates the definition of focus. So I usually try and pick 1 to 3 things to focus on and whatever I'm focused on, I want a mastermind around. Whether I'm buying into a mastermind or often if I know friends or people that are already players are experienced with that, I'll put my own mastermind together.
I don't need to charge for it. I just want a regular rhythm on when we're going to meet. Yeah. And as a result, when you've got a group of people who are all focused on a single purpose whether that's marriage or business or investments, it can yield huge results. I've got multiple examples of how those have changed my life. And it's true that those people that often give us ideas that would speak into us. Some would resonate.
Some wouldn't but we pick and chose the best of what we felt fit us and implemented. You've, articulated it well here even though you said Chaz, maybe you didn't for, but think that I think it's a process is what you just described. It's a process of give and take and and figuring out the language. Yes. I just appreciate what you've been able to work out. You know what I mean? Go ahead. I was gonna say and just trying to have a process in different things.
So I've also learned I'd like to say I've only made money in my investments, but that wouldn't be true. So I've learned along the way that, like, I probably lost more money in startups Chaz any other thing. And as a result, I've also had some that have paid off on IPO. Fantastic. Those are the more fun ones to talk about, but I think it's more important to talk about the losers because it's more about what you're not losing money than when you make money.
So there's something that I'd now do with my wife. I offer it to my clients. I'm happy to share it with your audience, but I fill out a deal memo on every single investment that I do. I have to write it all out. There's a process. If I fill it out, that means that I at least understand the basics of the investment and then I have to go explain it to my wife. For your audience, could be a business partner or friend, but in our case, either one of us has veto power on investment decisions.
It it doesn't fit her or she's not ready. I don't get the buy off. And sometimes that's a little frustrating, but it's healthy. It healthy in that. There's somebody else that is looking at this. It's our money. It's something that we do. She now that we have a family is a little less out of the wealth and the business. But we do that.
We also do a quarterly portfolio review where I review all our finances, all our investments, run it by her, I also sit down and explain our taxes, and she may not explain especially. She's not a CPA, so she may not understand the taxes in-depth but it's a good gut check for the both of us to stay in tune financially and further her to have input in what we're doing. So that process for our marriage and our investments has been huge. Yeah. I hope you listen to it right now.
Just give the show a pause and relisten to what Keith just said because everything that you can take the same philosophy into your teams, obviously, inside your business, but it's regular communication. And we'll take that link there, Keith, and put it in the show notes as well for the podcast. Everything he's talking about what he's done for his wife, what he's done for his family, the regular meetings, the open communication, it sounds so simple. So simple.
Just nobody commits to it, at least not on a regular basis. And I'm doing the same thing over here with my wife. She doesn't necessarily get involved in the nitty gritty, but I'll tell you there's been a couple of times before we had certain processes in place that there were certain things that I did, and she didn't want me to do. And I wish that I had listened. We have those moments if if there's no checks and balances. So I love the gut check language that you use there because it's true.
We're running fast. We're making quick decisions all the time. Sometimes we're the ultra optimist. And we need the the reins to be pulled up just a little bit. But if you remember how much time and effort or how much your spouse had to stack vice for you to earn that 25,501,000 plus that you're investing. It's at least worth giving them an option some time to review and also have input on how that's spent or invested. That is an incredible perspective.
The hours from the dollars that are being invested, that's worth the conversation. 100%. Love that. Okay. So we've talked a lot about process. I'm gonna transition over to the speed round here.
I wanna know if in all these businesses, what I love about your perspective is not only have you run businesses, but you have gotten the in the innards, the guts, the details of so many other businesses and, like, for clients, if we could dwindle it all down to one trackable metric that you would then track that one metric forever and ever. What is it? I feel like I should have a better answer than this, but just cash flow. I like to know what's coming in, what's going out.
I like to know what my taxes are. There's a bunch of metrics I look at, but that's the primary one that I think is important. Yeah. If there's no cash flow, there's no business. Right? And when when looking at investments, I wanna know the internal rate of return. I hear all sorts of made up numbers and different ways people like to measure things. Internal rate of return is a single metric that you can compare every investment between And that's why I like that.
And it includes the time value of money way more superior than an ROI or return on investment. Yeah. Love that. What book Wolfe you recommend that a guy listening today, he's going to the shelf. What's he gonna pull? What do we get? Viable for by Steve Prada. I don't know if you've seen this one yet. Haven't. No. It will talk you through how to set up a business that is sellable. So you wanna make your business viable, and it'll talk you through the process.
So in reading this book, It'll force you to get clear on what you're doing, the structures Chaz work. It gives you resources to other books like traction that might be a good fit. Sure. But most importantly, If your business is sellable, then that means you it can also be a lifestyle business that you it's not caught up in there, and it's actually worth something to be sold. Yep. I love that.
Yeah. We just had a guest speaker inside of my Gathering of King's Mastermind group who had sold a 1st company for a 100,000,000 in the trying to sell the second one for a couple 100 in the tech space, big Wall Street guy. Anyway, he came in and talked about this right here. You gotta build something that you can sell. If you if there is no value, if there's no system. If there's, like you said earlier, if you can't remove yourself, there's nothing to sell. There's no value.
And I think what you're not only the offer that you have, inside of your business of how you help people get there, but even just like the book recommendation, it just it stays right in the same lane of of really what you believe clearly, which I agree with. I'm just Yeah. Putting it out there. Well, you got a second recommendation. Yeah. I got a second one. I had That's alright. I over deliver, baby. Family Wealth by James Hughes.
So after you have the wealth, a lot of people are wondering how do I pass this on? And I'll shortcut a little bit about of that. It's not about the money. It's about the value. Chaz this is how do you pass on the values, to your kids and then the the wealth, the the money is just the fuel for what they're doing. It talks about that too, but it's really the the true assets are the values and the work I think that you want your kids to have.
Not some spoiled baby that's gonna spend it all away within a a decade or 2, make it all go. Yeah. I wanna take just two seconds here since you brought this up. It's such a a conversation that I hold pretty close, coming from nothing, coming from a single mom family, coming from a perspective of, okay, I went through all the hard stuff. How do I then press that on? I've since met my dad. He didn't know I existed.
I was told somebody else is my dad, but I've had this conversation with him as well. He's a farmer. And a veterinarian and all this, there's gonna be there's gonna be wealth there that gets passed on, but it was very much done through hand. And through hard work and all the things that that we want to be able to pass along, which I'm sure that book probably talks about. But for you personally, I know you've got young ones like I do.
How are you or maybe strategically what are you doing to put them in situations or to pass those things along other than just the money? So this is one of the hardest things as it is for me to do as a father, but I've gotta let them struggle some. Yeah. And as easy it is for me to solve everything for him. My wife's gonna love that I'm actually saying this because I'm the one that can enable, like, just helping him put his 3.
So helping him put on his clothes, stuff like Chaz, He should be able to do all that by now, but it's just so much easier if I just help him. There's every reason I grew up doing lots of lawn work. My my wife that's what her parents did when they first moved from Honduras. And so that was part of their culture. For me, I swore I did so much yard work by the age of high school. I was done.
And so we've got somebody else that knows our lawn now, but if there's ever a reason for me to buy a lawn mower so that my son is not afraid of hard work, getting his hands dirty, That's gonna be more important than me giving them an extra $100,000. Yeah. I just so appreciate that perspective. And you're right.
What I took away from what you just said is that you've gotta put him in situations similar or something that whether it's a struggle or whether it's just the appreciation of work and then result effort and then something out of the other end. Because at the end of the day, like, our kids are already living a different life. Yeah. Than you and I did.
It's almost like now I have to play, like, I have to be on offense on to keep them away from the entitlement because they're already living a different life than I did. Yeah. And the struggles is what creates grit and lets them know that they'll be okay to get true stuff. I don't want them just used to a certain level of lifestyle where that's as minimum. I've lived on beans and rice short time, but it is I know if I had to, I could go back there. And I want my kids to have that same gift.
Yeah. Yeah. My dad says this. He says if I did nothing else, I want each one of my kids to know which what he didn't teach me this lesson growing up because I didn't know him, but He tells me now it's if I just if I did anything, but to tell you that you could go do a full day's worth of work and know how to eat and be safe at night. Than I did my job. Like, that those are the things that matter because the rest is it's all up to design.
Like you said, it's matter of lifestyle business, or do I wanna press in harder for the bigger thing? And that all comes down to how we're made, how we're designed. Agreed. You've mentioned masterminds, some that you've been a part of, some that you've done for yourself. And so my normal question for mastermind or network with others. Obviously, you do, but help me understand the why. Like, why do you do those things? Whether it's the time, the money, the effort?
What what's important to you There is nothing more effective in growing quickly than a true mastermind when I say mastermind as it was defined by in think grow rich, it was a true meeting of the peers If you have too large of a group, it doesn't work. It's not group sales. It's not group coaching. It is a group of people who each have time to speak into each other's lives and are true peers in what they're doing. And that's why when I form a mastermind or put one together.
I've gotta be very intentional about who's there and make sure everybody's on the same page. My first mastermind I was 25. I was just out of a boot camp, and I was offered $10 some really expensive number at the time for me at 25. To join a group, it was gonna be tough for me to come up with that money without going into credit card debt when I was first starting out. And so I went looked around the room found 4 or 5 other people just like me, and we were just doing single family together.
None of us were super experienced, but just by the sheer interest of all us all trying to build a single family business and get out of our jobs within 5 years. All of us that wanted to had left our day jobs and either started a business or a full time in real estate. And we were all young, and that was 80% of us which just dictates how important that was. We're all sharing knowledge and resources. I learned this. I learned that, and it was so helpful.
Yeah. I love you used peers, that word, and a peer to peer setting. For me, has been so important because we can go to conferences. And that's what I feel like a lot of masterminds are is that's the let me go to a conference or let me listen to the big guy. There's value in There's a learning. There's a knowledge, a 100%. Take my notebook. Let me get some let me get some notes. But everything you just described, I just so relate to because when you can build a relationship with those few.
There's just so many things that come out of that. And I've had businesses get started. I've had ideas flourish. I've had fun memories created, all kinds of, just really life experience type things inside of those moments that were that were put together just as you described. So Yeah. On the same page there. I got a question for you around and then we'll be getting close here.
The question is this, if you could only spend 1 hour within a week, so you get only 1 hour to work on the business, how do you operate in that hour, or how are you using that hour to successfully run your business? In 1 week, I am frankly checking in with my team. And that is a power hour. They better come prepared with what their questions are and what they're doing afterwards. I can't come in with any action items, and I don't wanna leave with any action items.
I want it all to be just about me giving them or directing them on what they need to do to support the business. Yeah. It's a great answer. I love it. Last question for you, Keith. If you lost it all, what would you do? Oh, Sorry. I can never just give one answer. 2 things. Reworking oil and gas wells right now. There's hardly anybody doing it. There's nobody teaching it. I know some guys doing it. They're making tons of money. There's no competition.
And in in essence, you're buying existing oil wells that have already found success that are dilapidated Chaz need its renovation if you're thinking of apartments. And I'm seeing where with the short time frame, They can be producing 2 or 3 times what they were before, and a lot of the big companies aren't touching the small projects right now. So there's a little competition and all the little guys went bankrupt in the last that crashed a couple of years ago.
So wide open markets like real estate 2010, everybody's afraid to get in and very few have the knowledge to do. Yeah. Wolfe Secondly, buying businesses. You've got a ton of baby boomers that are exiting. Not a lot of people that know how to buy businesses. There's some people now teaching it, but that's probably my second favorite opportunity.
You can pretty much take these things over for almost just continuing somebody's legacy because you're probably paying them something, but a lot of baby boomers are frankly just shut down the business and walking away from altogether.
So if you can learn how to get good at the back office stuff, accounting, legal, marketing, sales, that kind of stuff, then you could go out and just plug in whatever business it is into your team or you just buy 20 to 40 percent of the the business using an SBA loan, you got low financing, all of Chaz, and you just allow whoever the entrepreneur is to go run and operate their business and you're taking all the hard stuff for them off their plate.
Yeah. Yeah. I think I'd be running right next to you again. I love both of those answers. Super practical and tactical. I get a lot of answers with that. Some are a mindset. Some are heart. Yours was very logical. Here's I've thought about it. Here's the road map. Our brains work pretty similarly. I just appreciate that about you. How can someone find you connect with you, get to know you better, maybe even be a client of yours in some form of financialjourney.life is my website.
I'll share a couple websites that I'll share with the deal memo. And then one other thing that's they help me are my habits. So I'll share a link to a menu of habits just to freebie. I don't you don't even have to give me your email to get the resource. So that's just for my gift to you. And you can also email me Keith at financialjourney.life. I'd love to connect if you're associated with you. I'm sure you're a good person that it'd be great to have a conversation with.
I appreciate that and just giving them the opportunity to do all those things, and we'll list all the the links down below as well. But Keith has been incredible, chatting with you, the energy, with you each time we've gotten together has been high, and I know you're a guy that's already done amazing things, but I just feel like you're just getting started. I can only imagine what the relationship and or life looks like in 2030 years when things are different.
Our kids are grown and all that fun stuff. Thank you, Chaz. Appreciate you having me. Thanks for listening to Gathering the Kings. We hope you got a ton of value today and learned a thing or 2 about taking your business. To 7 figures and beyond. If you desire more and want a community around you to help you get there, but want you to go to gathering the king's dot com. That's gathering the king's dotcom, and I want you to apply for our next becoming a king 90 day intensive.
We are extremely exclusive by nature as a group. What that means that we're really wanting only the entrepreneurs who take their business and targets super serious to apply. So if that's you, you think you got what it takes, To level up your business, I want you to go to gatheringthekings.com and apply. And we will see you on the other side.