Are you struggling to diversify your investments beyond real estate as the market shifts? Are you feeling stuck with limited options as an equity-rich investor? Are you wondering how to achieve greater returns through scaling your portfolio instead of relying solely on appreciation? Meet Joshua Wilson - a serial acquirer who transformed adversity into opportunity. Driven by his passion to help others overcome challenges through perseverance and leadership, Josh overcame worries of tenants paying rent during COVID to diversify out of real estate. On this episode, he shares how partnering with operators can help them achieve 8x returns compared to going solo. Are you ready to boost your returns through strategic partnerships instead of flying solo? Tune in as Josh pulls back the curtain on his formula for acquiring businesses globally using other people's money and experience to achieve outsized wealth.
[00:12] Joshua Wilson discussed how cold plunges and saunas have helped him build mental toughness to overcome adversity. He explained that enduring challenging temperatures that test his mind and ability to handle hard situations has transformed his life. He cited David Goggins' teachings about pushing mental limits as influencing him to live by enduring difficult cold water plunges and sauna sessions on a regular basis.
[03:09] Joshua shared details about getting started in real estate investing in 2008 and using the buy, rehab, rent, refinance strategy to build a $25 million portfolio over 15 years before recently selling it off.
04:14 Joshua explained that during the COVID pandemic, worrying about tenants paying rent made him realize he needed to diversify from solely relying on real estate into acquiring businesses to spread risk.
[04:35] -For his first acquisition in 2021, Joshua described buying a non-emergency medical transport company in Florida using owner financing since the seller only had limited financial records available for traditional financing.
[06:38] Joshua discussed persevering through the new company's first challenging year when revenue was only $50,000, but is now seeing success in the fourth year with revenues approaching seven figures.
[08:18] Joshua credited his real estate experience with teaching him valuable skills like creative financing, negotiation and leveraging other people's money that he now applies successfully to acquiring multiple businesses.
[09:22] Joshua was discussing why he prefers to use other people's money (OPM) for his investments and acquisitions, rather than solely using his own cash. explained that he prefers to keep all of his cash available by bringing in investors to provide debt or equity for his deals. This allows him to do an unlimited number of deals without worrying about constantly using his own funds. He said he would not do it any other way than leveraging OPM.
[11:40] Joshua briefly mentioned JW Global Enterprises when discussing his plans to acquire businesses anywhere in the world. He put "Global" in the name instead of regional or statewide because he is not afraid to acquire deals anywhere, as long as they are good opportunities.
[13:50] His goal is to have 10 companies generating a combined $10 million in EBITDA in order to attract a private equity buyer for his holding company portfolio.
[15:33] Joshua credits his mentor who he considers a great friend who helped him out early on in acquiring multiple businesses. His mentor showed him to take $150k and turn it into over six figures of revenue each year through acquiring companies, which helped spark Joshua's interest in the area.
[16:52] BizBuySell.com was mentioned by Joshua as the first place he bought his first company from. Joshua recommended it as a good initial source for people who want to start exploring potential business acquisition opportunities.
[19:41] Joshua is seeking partner operators who can benefit from coming under his umbrella and achieving a higher 8-10x multiple exit compared to selling on their own.
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