I Bought A NEW Company, How Much $$$ Will It Make?

[@patrickr2686]

I know someone who bought out a business. Roughly 6 months to a year later, the old owner started a new company and called all his old customers letting them know he's back in business under a new name.

[@theloyalorderofclassictv5435]

This is why "non-competes" are important in any time you purchase a company.

[@LM2.S54]

@@theloyalorderofclassictv5435 those dont mean anything anymore and never should have. do the best job at the best price and let the clients choose.

[@CapitalWorksPro]

This is why you don't cheap out on the lawyer that helps you buy the business.

[@InvestmentJoy]

@@patrickr2686 as someone mentioned here that's why you get enough to repeat we have a 10-year non-compete agreement with the acquisition of this firm

[@DK-mc7mp]

Most of these buyouts I’ve seen have been older guys who want to retire. Don’t think them starting a new competitor is a huge risk tbh. But agreed you should be thinking about that.

[@brentonford1408]

This is so awesome! I am thrilled that you are now in the construction industry! The construction industry needs more guys like you!

[@InvestmentJoy]

I appreciate it and I would say one of the biggest things here is we have a direct pipeline to get people into trades with no money out of their pocket as an alternative to college

[@wizkaqueefa9003]

@@brentonford1408 "THE CONSTRUCTION INDUSTRY NEEDS MORE GUYS LIKE YOU!" THE KIND WITH NO EXPERIENCE IN THE CONSTRUCTION INDUSTRY BEFORE 2024!

[@brentonford1408]

@@wizkaqueefa9003he has the money and the drive. He has compassion for employee’s. He will be interacting with the employees. Dude, I’ve been in the skilled trades for over 25 years, and I know what it takes to keep the wheels turning.

[@InvestmentJoy]

@@wizkaqueefa9003 you mean someone with a significant social presence that will help get people into skilled trades? Remember I've been in project management since 2013

[@bensappliancesandjunk]

​@wizkaqueefa9003 and yet he's figured out how to fix problems that plagued the roofing company for decades in a matter of weeks...

[@saleen367]

A roofing company can be extremely profitable. I hope you absolutely knock it out of the park!!

[@InvestmentJoy]

Thank you! Look forward to seeing what the future holds

[@tc7584]

I worked in numerous factories around the midwest and it seemed like we didn't ever not have a roofer on site and site. I'd encourage you to go to a safety conference in your area and start networking with plant manager or safety professionals are a great in.

[@csukosd]

I leave for awhile we went from look at all these quarters. To I bought a roof company impressive. Keep up the good work. Always entertaining always educational. Thanks for the good content!

[@InvestmentJoy]

Glad you enjoy

[@BaptistJoshua]

Can you believe I used to roof for $10/hr. about 15 or so years ago. 7 layers of shingles I pulled up on the last job. Crazy.

[@InvestmentJoy]

Crazy times!

[@Kushert]

This is much more interesting than the trailer park videos and the laundromats.

[@InvestmentJoy]

I think it'll be interesting, granted less money focused. More giant crane focused, or so I hope :D

[@lesliecas2695]

Most important question: Why was a roofing company for sale?

[@kungfoochicken08]

36 year old business is probably the owner-operator retiring or dying.

[@InvestmentJoy]

Owner was ready to retire just like the other five million small business owners in the United States

[@dakotaflower5926]

Actually, many roofing and HVAC/Plumbing businesses are for sale. You can do a simple google search to purchase one 😂 morning, your business is a lot of work and at some point most owners decided to sell.

[@InvestmentJoy]

@@dakotaflower5926 in one of the next videos coming up we talked about the other companies I looked at. One of the companies had a top-line revenue of nearly 100 million a year. There's a reason I bought this company

[@chaiborg733]

I don't know, why part with a cash cow? Why wouldn't the owner give the company to one of his children or just hire a GM to do all the management for him?

[@MattAtwoodvideos]

Going to be a great series! Looking forward to it!

[@InvestmentJoy]

Hope so!

[@Millnar]

i'm looking forward to this new series!

[@17blaqsho52]

This is great. I’ve been watching you for a couple years…Didn’t think I’d see a roofing company. I really wanted to buy a local car wash a couple years ago that went up….after watching you and your endeavors, I was like, I can do this…my wife wasn’t so keen on it. Dream crushed. I’ve worked for a large commercial roofing and sheet metal company in McHenry county for 24 years. Right down the road 😂…I’m rooting for ya. It’s not an easy Industry, you’ll do alright, you’ll grow that place. Having the contract at BC will be great for you, service contracts are huge…🤙🤙

[@InvestmentJoy]

Yeah, I'm excited about things, especially some of the next projects to video :)

[@patman147]

I have spent my entire career in sales and sales leadership (30 yrs). I have had very limited success with outsourcing cold calling and lead lists. They typically hire hourly employees to make cold calls and often have zero experience in the field they are calling on. BTW; they will always tell you they need more time as they want you to continue paying them. I have also made the mistake of hiring multiple sales reps and seeing high turnover. I would focus on networking with companies in construction or general contractors. Providing some commission to the owner or their sales reps can be very effective. I would also focus on calling businesses that are filling permits for construction, or new biz. You can get the info from county websites. Owners of companies are always the best sales people as prospects always want to deal with someone who knows what they are talking about. Your time is valuable so anything you do in sales/marketing you need to limit your time and constantly evaluate your return.

[@InvestmentJoy]

Yeah all great feedback some of which we have implemented. The upsetting thing is the commissions that we can pay sales agents is phenomenal in my mind, but it wasn't enough to get the last organization motivated. So we're going to take the sales team internal and they're going to have to sit with our estimators and the other managers to do the process. I perceive a good sales agent should be over 200,000 a year but we will see

[@xrayded5037]

That’s what I focused on my profit margins are so high my accountant who’s been doing his job for 30 years looks at my numbers and ask me how do people pay you that much. I focused on high profits with less over head and make a killing. I did $600k last year in net profit I’m at 1.2 million dollar a year business not a 10 million company…

[@ALMOST1342]

I can tell youve done your homework on roofing because you seem extremely knowledgeable. Wishing you the best of luck on the new endeavor!

[@InvestmentJoy]

Thanks this is still very much a work in progress

[@TheRm65]

Not a fan of roofing companies in general, nor do I like working with unions. But if you can make it work, more power to you.

[@InvestmentJoy]

@@TheRm65 it solves the employee pipeline for us which of you watch my videos for a while tends to be a constant problem. Whether the union is great, or awful, we will find out.

[@kojoyeboah6787]

Very inspiring, pray that you succeed on this endeavor. Daring to do what others are hesitant or afraid to do. Keep rolling out content and giving education for future entrepreneurs.

[@InvestmentJoy]

Thanks! Episode 3 will be out Saturday!

[@peterbarlow7781]

Love that you own the Rock-vac. Such a good move.

[@InvestmentJoy]

It's an awesome piece of equipment

[@carlosmack2391]

I’m rooting for you congrats!

[@BangBangBang.]

Non-compete won't work. Previous owners can "advise" or "consult" a "new company" that seemingly pops out of nowhere. Or other ways. My boss bought a business from a guy who ended up working for the company that subcontracts us. That guy tried to work both sides. The company he chose to work for called him out on it and shot his deal down so he chose being a company man at $80k/year versus a $700k/yr contract. Other location we do work at won't allow him on site because of him working for a competitor.

[@djpmatchbox]

also, for the rocks that you are disposing of, look into giving it to landscape companies for free (if it costs to get rid of at dump). its a good relationship to build because they can use that rock for landscape.

[@dougf1249]

You know youtube is an amazing place where you can publicize your risk taking ventures. I hope it succeeds!

[@InvestmentJoy]

Me too whether I succeed or fail everybody's going to know

[@RickyTricky90]

As someone from that region. Everyone is moving out and has been for the better part of 30 years. Especially Rockford area, crime has been spilling over from Chicago since I was a kid. Townships, cites, and all lost manufacturers work to China and Mexico.

[@InvestmentJoy]

I understand it feels that way but when I look at the specific data regionally I'm not near as upset about it. I understand the problem with Belvidere assembly and the various subcontractors that have seen better days but from my standpoint I'm not exactly trying to catch a falling knife here. There's a lot of good economic metrics here they gave me Faith to put so much into this

[@darriusleach]

I haven’t watched a video on this channel in a while and this popped up and I live in Rockford. Congrats. This is cool.

[@InvestmentJoy]

Awesome! Glad to hear I'm back in your feed

[@zekebones34]

Haven’t tuned in for awhile and you buy a roofing company 5 miles from my house 😂😂

[@InvestmentJoy]

We're having a party in Rockford the 23rd

[@icedog1123]

​@@InvestmentJoywhat kind of party

[@InvestmentJoy]

@@icedog1123 Meetup, have food together then talk about money and business

[@javieracevedo9706]

Same 😂🤣

[@andrewkettleson1003]

Roofers needed heroes so God created Ironworkers!

[@OhioPalmTrees]

Bald guy + big fingers = Union brutha "Ay Ma! More meatloaf for Tony! "

[@InvestmentJoy]

To my benefit I've been accused of working with the mob for 5 years now

[@Hardest612Eva]

Proud of you. Tpo single ply to the millions. Def high stakes money.

[@InvestmentJoy]

Yep

[@leoapgiannini6752]

As an alumni of Beloit College, thanks for shooting this video, i've been wondering how my alumni giving checks have been utilized. Looks good.

[@InvestmentJoy]

From my perspective they're pretty efficient on the roofing front. That's A sly way of saying I'm not making that much money off of them, lol What are the Shockers to me has been working with these different government agencies and government-related agencies, they really are trying to be efficient with everybody's money and I've certainly been appreciative of that.

[@DJayAce4]

First time watching your channel. Very nice video, I can see this reaching much more than 25k views. Keep up the videos, this was super entertaining. 👍

[@InvestmentJoy]

Awesome, thanks for the feedback

[@earthsskin]

Just found this channel and I'm amazed 🤩

[@InvestmentJoy]

Glad you enjoy it!

[@mahbubchowdhury1575]

great series, I was wondering how do you decide what business and what price to buy a business?

[@InvestmentJoy]

This is a series where we we already have multiple more videos planned and I'll talk about the other companies we looked at including a trucking company bringing in over 100 million a year.

[@djpmatchbox]

when you have to close a road look into late night delivery. (not always worth it, but something to look into)

[@philozopher1]

this is a cool behind the scenes

[@EastAlen]

I own a small roofing company. We do mostly resodential. At your claibre you will make ghe big bucks. With roofing its all about being organized, safe, professional.

[@InvestmentJoy]

Absolutely will do, thanks for the input

[@theindividualinvestor1]

Congrats Joy! Hope this venture works out well for you! As someone who's familiar with union construction in the Chicagoland area and have watched private equity kind of eat everyone up, be careful on who you trust. Money talks and allot of these private equity guys are getting in bed with the union reps. This union construction stuff gets pretty corrupt.

[@InvestmentJoy]

Agreed and I do understand especially since private Equity bought out a large operation in the Rockford area that was union. The differentiator I'm hoping to be here is the fact that I've got this KZbin channel and can easily become the Union's largest recruiter in the region. They want more people in work and I have a reach that private Equity would be hard-pressed to pay for.

[@theindividualinvestor1]

@@InvestmentJoy im gonna be honest. Thats some niave thinking man. They dont care about that stuff. The rockford unions arent quite as curropt as the chicago ones, they play games out that way too. Those unions are a little weaker cause they suck up to chicago. So many guys out that way are in chicago locals due to the higher cook and dupage county wages. Research the chicago flooring cartel, mr davids bid rigging scam or chicago flooring bid rigging scam. What youll find are these companies partner up and collude to take the outsiders out. Thats why the industry is getting smaller and smaller. This isnt just happening in flooring, this is chicagoland union construction. I know this game all to well been in it over 20 years.

[@theindividualinvestor1]

@@InvestmentJoy unions are funny with recruitment man. Generaly a employee gets hired by a company to become signatory with the union. Unions rarely recrruit because then they have to find the guys jobs. Most roofing work is seasonal as it is like most other trades in the widwest. These unions love private equity. They have allot of money. They are way less likely to defualt on things like benifits (pension/insurance) as im sure you know thats a big part of the your expenses. Not to mention unions are highly political and private equity are generally huge poltical donors. Google mr davids bid rigging, chicago flooring bid rigging or chicago flooring collusion. What you should find are 5-7 union companies that colluded together not just to get the work but get rid of everyone else. Once you have most of the work on lock its much easier to make mom and pop shops fold and buy them out for pennies on the dollar. Just be aware of what you are up against man. Things are a little different here. Youre a good dude. I would hate to see you get rekt by our way of doing things.

[@DoingNothingKing]

Don’t want to say how I know this but with the government part When the government needs contractor work, they’ll get an estimate right away on how much they can spend. Then will try to find whatever job that’s does decent enough work that will cost 10-20% less then their estimate. Why u ask, they keep that extra 10-20% for themselves & will almost always use the beginning full estimate they had for the project (usually find latest estimates with same job dimensions + highest cost job recorded) to use as their “estimates” It’s basically impossible to trace/accuse them of this, since it’s easy for them to cover up any holes in their bookings/reports when it comes to necessity/ contracting jobs that need to be done. Wish more knew about this. Theyre pocketing hundreds to millions a year from this. & Since contracting jobs are getting so expensive, they abuse this. If you question this, just notice how certain buildings are getting new unnecessary things “upgraded” yearly lately. Especially since Covid when they’re abusing this

[@PRR-z4q]

Congrats on your new venture. Next investment HVAC / Plumbing .

[@InvestmentJoy]

Thank you! Hmmmm

[@DavidAmodt]

incredible video as always. did you have previous roofing experience when you bought it? sounds like you've got a strong understanding of it

[@InvestmentJoy]

It's like everything else that I get to in life I really try to nerd out over everything and learn as much as I can as quick as I can. With it being a skilled trade it's one of those things where I'm sure I'll never be as good as even a second or third year apprentice. But at this point I really do have a desire to become decent at welding PVC

[@seanrhone5306]

Guessing there was some escrow account with enough money to cover any possible repairs from previous work you're still on the hook for if something goes wrong?

[@InvestmentJoy]

Yes and no the primary Financial driver of that is purchasing insurance. We work with several companies that do the insurance which are primarily the membrane manufacturers like duro last, the insurance is cheap if you do good work and they will cover it.

[@ernieforrest7218]

There is one thing most union roofing companies have in common. That being they end up going broke.

[@InvestmentJoy]

Tell that to our competitor that just got acquired for 100 million dollars

[@IA-yi3zy]

​@@InvestmentJoy who's that competitor?

[@InvestmentJoy]

@@IA-yi3zy Sterling, which was acquired by Tecta

[@joshuafrench1902]

Amazing, keep rocking it out!

[@InvestmentJoy]

Thx

[@kingj6399]

I think you got ahead of yourself with this one

[@kingj6399]

But best wishes man , I’ll be watching as always !

[@InvestmentJoy]

We will see if I can ruin a profitable 26-year-old company

[@Liverys4th]

Roofing is the most over saturated industry in most areas. Most fail within 5 years. Yes it has been profitable but I gaurentee the last owner has been a roofer/ in roofing for 10-15 years. Good luck though it would be wild to see you do it

[@InvestmentJoy]

@@Liverys4th ~40 years. Workforce has a composite of a large group of guys 10-20 years in the industry. It's saturated to a limited extent, many, many, many guys who owned their own shop were making less than $75k/yr when I was going to roofing school.

[@candid1954]

What makes our roofing company great is because"We Stay On Top Of Things"...bada bing! There's your new company slogan and I'm not a roofer.

[@InvestmentJoy]

Lol, this is incredible

[@johnpdd]

The 20 year warranty could bankrupt you in certain situations, especially if the previous owner did flawed work you didn't know about. Is there a way to insure against a catastrophic amount of warranty work?

[@InvestmentJoy]

We insure our work

[@Ohleo91]

Safety is a 6 letter word and a 7 day job! You can use this I just want a cut lolol

[@BaptistJoshua]

If you have to warranty the work for decades, I wonder if you could be hired to fulfill other roofing company's liabilities, when they come due? I mean, their work fails at 17 years, so they must repair. Could you contact companies and offer to do their repair work?

[@InvestmentJoy]

We are working on that, I think episode 3 will talk about it more

[@BaptistJoshua]

You know you are in Rockford, ILL-annoy when you keep hitting potholes that make you question your mortality. 😂😂😂

[@floydlooney6837]

Instead of big cranes I have seen some lift from the roof to the ground like an elevator and some use a conveyor belt thing, although 4 stories might be too high for those. Good luck on this. The alley behind the building looks like a good bet though.

[@thewhiteknight02]

Wait until you have to remove 20 ton of gravel. Need big cranes.

[@floydlooney6837]

@@thewhiteknight02 I'm hoping they don't need to put 20 tons of anything on a roof.

[@InvestmentJoy]

Oh believe me, 20t is nothing. Our biggest job was over 400,000 sq ft. Granted that specific roof was not ballast because it would never have worked but the math on that says I would have had to use over 3,300 tons of gravel

[@InvestmentJoy]

But I will say other than 20 tons of gravel your ideas are absolutely valid it's something that we have to address in the company ASAP because taking a gigantic crane to every job site is not in our best interest.

[@BaptistJoshua]

Right!

[@econodeals]

The Chrysler factory will need a new roof if they open it back up. It's like a 3 million sq foot factory. It's leaks like crazy right now.

[@InvestmentJoy]

Yeah we've had that conversation with the union, we would be in line to do that job the rumor is they've got a lot of federal money potentially in the future. Right next to it though is an 18 million job for Walmart. Sadly we had absolutely no capacity for that one

[@timkuldayev8857]

You're doing a great job! By the way, you should have Mike Andes give you some advice on how to do marketing in your specialty service or hop on a call with him. Great guy, should be able to help you out. 👊

[@InvestmentJoy]

Thanks for the name, right now our marketing seems to be doing well, but there's always room for improvement.

[@recordsgeek]

I think the idea of new roofs for disabled Veterans is a great idea. But as a Veteran, can I recommend that it not be restricted to just the disabled Veterans? There are A LOT of Veterans that fall through the cracks of the system - the VA won't label them as disabled because they don't want to pay, but the Vets are limited in their ability to work so they are struggling to keep their heads above water. A new roof for them can change the world for them also.

[@InvestmentJoy]

In a perfect world I'm giving a roof away every 3 or 4 months. I think the first one should be a disabled veteran and then after that just any veteran that needs help. And then on top of it it's not like for the disability I'm looking for the VA classification I'm just going to result to KZbin social media and the news to find somebody who needs it the most

[@Hardest612Eva]

You don’t need 200 roofers you need hood roofers I’ve worked in union and for centimark n Flynn.. you need more crews if you can be doing 3 jobs at once you’ll be fine. Bid Union jobs ..up your margin a bit in the start to pay down your loan.

[@InvestmentJoy]

Hoping to have 3 crews soon. Just about there for 2 crews.

[@saohengyoung5785]

Yep, I'm hooked

[@BaptistJoshua]

Some like the cash counting content. Some like carwash. Some laundromat or roofing. But my favorite content is learning the "boring" business knowledge that applies to all ventures.

[@SILLY_BILLY_777]

Small world

[@jimbase3850]

Wow this seems like a large and stressful leap from car washes and laundromats. Good luck!

[@InvestmentJoy]

It is, hope to see!

[@ViktoriusNaat]

Love the video mate. More like this

[@InvestmentJoy]

Appreciate the comment! Make sure you hit the bell for a notification when the next video comes out😁

[@ViktoriusNaat]

​@@InvestmentJoyOf course, I look forward to your new video releases.

[@NikkiCornelius]

Also, if you would like a local person to show you around- I got cha. I have been here the majority of my life and can tell you a bit about the history of the city

[@InvestmentJoy]

We're doing a Meetup at the Prairie Street Brewing Company on the 23rd of this month 7 to 10 you're more than welcome to show up

[@NikkiCornelius]

@@InvestmentJoy unfortunately, I work night shift Wednesday through Saturday in Beloit. Unless you mean 7am till 10am

[@NikkiCornelius]

Random question- do you all do residential flat walk out roof decks?

[@InvestmentJoy]

Not at this time unfortunately

[@jackt6595]

I had unsubscribed some time ago because your videos became repetitive on laundry/car wash business. I have resubscribed because I am excited to see how you do in the roofing business.

[@InvestmentJoy]

Glad this caught your attention

[@joshuahill6153]

KKR Investments bought out a bus transport firm in my country of New Zealand which was experiencing 100 Million NZD (70M USD) profits annually and now its 37 million down annually in deficit because of mismanagement and aquirsition of local firms being absorbed into the massive hierarchy of the company becoming too big too quickly for its own good. Don't ever deal with investment firms or bigger companies even if the offer is great, you will end up having to see your business you built up fall.

[@InvestmentJoy]

I've had some Behind the scenes convo about kkr, what a.... Interesting.... Company

[@slowrider30]

Cool idea. I wonder what the focus of the original owner was going for commercial instead of residential. How long have you owned this one? Is the original owner still involved? Great content btw

[@InvestmentJoy]

I think it was average ticket size - You can do 1x roof a day at $10k/roof (Less material), or one single roof, at one job for 5x days at $60k over that time period. You make a little more, but there's no traveling and its easier to plan out.

[@Jess1234]

I bet the employees are super excited since you’re an easy going guy

[@InvestmentJoy]

I think so, I really want to get everybody on a plan to figure out how we can all make more money. The more the company can grow and be profitable, I figure the more that everybody can make

[@c7adventures376]

#1 question i have is... how long you been in the biz. Like how many year you been working on roof jobs? 🤔

[@InvestmentJoy]

I've been dealing with construction management as a part of my rental firm since 2013. All small residential-type projects. It's one of those age-old questions of : Is it better to be skilled in one thing GREAT or alot of things moderately. From a high-level I understand the operations of the roofing company, install, schedule, financial management ,etc. When it comes to the skill side, I'm less than novice.

[@geminivending]

Nice 👍 Job!

[@InvestmentJoy]

Thanks! 👍

[@geminivending]

@@InvestmentJoy ain’t no thang!

[@skliros9235]

Dang, you're in my town! Let's grab lunch!

[@InvestmentJoy]

We are doing a meet-up October 23rd if you're available

[@skliros9235]

@@InvestmentJoy where at?

[@InvestmentJoy]

Prarie St brewing company, October 23rd 7-10

[@Liverys4th]

Could you as an individual put a roof on a residential home? I don’t see how you buy into a company that you only have read books and been in classes for. No hate just curious. Roofing is not easy and employee turnover is crazy.

[@InvestmentJoy]

I've done minor roof work on my rentals. Overseen many roof replacements on my properties in the past. We will see as time goes on : Is it better to be a competent manager and businessperson, or a skilled tradesperson to run a business, or is it mandated you're both?

[@Caspertraderofficial]

Loved this

[@InvestmentJoy]

Thanks!

[@Leondon73]

Can you tell us how you were able to buy and own a roofer company without being a license roofer?

[@InvestmentJoy]

I went to school and got my license

[@AR-el1km]

Paaji, what was your cash on cash return on the trailer park?

[@InvestmentJoy]

Goal was 16%, ended up at like 6%-7%

[@SILLY_BILLY_777]

Private equity is hellish, thanks for trying to take a stand

[@InvestmentJoy]

That's the goal!

[@jeffreygeorge219]

Should of bought into dump trucks, could of had 8 trucks on the road, making $1500 per truck a day, do asphault, milling and rock. Cheaper insurance, less medical cov and way less competition..

[@InvestmentJoy]

I looked at two such companies and the numbers just did not work out. It's not that I would not go into this industry in the future, it's just out of the available companies that we found over one year, None of them had good financials.

[@hectorworksout]

Do a rebrand with Kickcharge creative I’m doing it for my company!

[@InvestmentJoy]

What would be the upside to losing 26+ years of local notoriety and attention?

[@hectorworksout]

Keep the name, will just stand out more with better vehicle wraps Which can be a factor to attaining new business

[@morganruest1803]

Every body claims to be a roofer now days

[@InvestmentJoy]

Alot of people are reselling through multiple parties, and not actually doing work like we are.

[@BaptistJoshua]

Next buy a pothole repair company, if IDOT and various counties/cities will outsource the work.

[@InvestmentJoy]

We looked at both a Hauling Company and a Paving Company I was going to go into detail on this first video of the roofing series on the businesses that we looked at and did not purchase

[@gbhxu]

From the outfit, I thought you were auditioning for Village People!

[@InvestmentJoy]

Not this time

[@KE458S]

Roofing? You need to get into heavy highway and heavy civil construction. Or a drill company..

[@InvestmentJoy]

Are you familiar with the bonding process? I would absolutely love to but when I start talking to people about that process it becomes very problematic

[@drobgyn5615]

Great video, thank you! Keep uo the hard work.

[@drobgyn5615]

I too struggle with being confrontational, & it has caused me to be less successful. Working on changing that!

[@InvestmentJoy]

Thanks, will do!

[@EastAlen]

Can you show us s indepth video onnhow to bid these larger jobs, whats neeeed etc

[@InvestmentJoy]

We might talk about that in episode 2, but will make note

[@WaziM6]

From the thumbnail I was really hoping you bought a taco bell

[@InvestmentJoy]

Maybe soon

[@Brawlstriker89]

Do you put yourself in your workers shoes? You could work for you, where you’re being recorded to be put on KZbin. So you can make money from this as well. So exploiting your employees for the sake of gaining profits. Or the worker could go to the other company where they’re not gonna be put in KZbin..I did roofing growing up with my stepdad. Highly illegal as I was a kid doing everything from tearing up tile to putting new down. I appreciate seeing channels like this because it reminds me that I love my simple life. Not owning businesses or worrying about money.. I may not have all the money in the world. But I get by. I do things still and do have free spending money. So why be greedy and go for more? I get more time with my kids. Or I could work more and make more and spend no time with my kids or at home enjoying why I work.

[@InvestmentJoy]

So far everyone I've talked to at the company loves it. Maybe that'll change, but in my mind it'd be kind of cool being the talk of your kid's school, saying your dad is a part of popular youtube videos. Even got the 78 year old mom of one of my employees saying how great it was, and my purchase of the company was an answer to her prayers.

[@JoeKyser]

Under bidding jobs just to get them and then figuring out how to save money, will be the death of the company. Its a good step that has proven to be effective.

[@InvestmentJoy]

Agreed, we talk about this more in the 3rd video

[@Sparky-joystick.1308]

welcome to Wisconsin

[@InvestmentJoy]

Thanks!

[@checkdown3774]

I ran a mason company. First thing I did? Fired all the union workers and brought in Mexicans that worked for less than min wage. Second cut over time pay into banked hours. Third pay off anyone who doesn't like how I do business. Any questions?

[@InvestmentJoy]

How well is your company today?

[@Gordanooooogigioooo]

INSPIRED YOUR EMPLOYEEEES#####😮😮😮

[@grahamkennedy7221]

Sounds like he is giving lump sum prices but then he said he can’t charge more then 20% margins on public jobs. Those sound like they are contradictory statements.

[@InvestmentJoy]

I could spend 20min going over a bid sheet, but I don't think anyone would watch

[@grahamkennedy7221]

@@InvestmentJoy probably not. In Louisiana most government projects are lump sum or unit price. So the agencies don’t care if you make or lose money on the job.

[@awsomo53]

Get a good relation with ABC supply and you'll be alright. Conveniently, you're 20 minutes from their global headquarters. Diane Hendricks puts a lot of money into Beloit College.

[@InvestmentJoy]

We were trying to do an ABC video. Absolutely love them! (also episode 3 has ABC a little bit in it)

[@TheN3llee]

Didn't realize you had beef with Roman Atwood. Is it because his claw machine was way more profitable then yours until the Ohio Gaming Commission shut him down?

[@InvestmentJoy]

No beef, great guy, just no desire for a mansion

[@jakeholcombe4002]

I find this interesting I didn’t know you were in the IL area I’m out of romeoville IL I also find it interesting that this is Anderson roofing and want to know if this is the extension of Anderson & Shah roofing as I know Paul Shah who is also the owner of a union roofing company looking to sell as he is older in age

[@InvestmentJoy]

I do not know of them, but could ask around there's alot of Andersons around here.

[@insanedrummer89]

Hope you know something about roofing?

[@InvestmentJoy]

The state of Illinois calls me a PROFESSIONAL!

[@J-remyM]

How many spoon enthusiast does this roofing company employ?

[@InvestmentJoy]

None that I can tell of they're all great guys. That was one of the goals with this company, get me away from the spoonies

[@J-remyM]

@@InvestmentJoy commented before I watched the whole video, seems like a great bunch of guys you got there. I’ve known a few spoonies that did roofing tho lol

[@devonhill7394]

Get into electrical contracting if roofing doesn't work out.

[@InvestmentJoy]

I will talk about the electrical firm that we looked at in a future episode

[@danh894]

Welcome to rockford, are you living in the area now

[@InvestmentJoy]

I'm renting a house up near Rockton but I'm not living in the area full time for better or worse I commute 8 hours

[@danh894]

@@InvestmentJoy That's a hell of a commute. Maybe we see ya around town 1 day

[@InvestmentJoy]

​@@danh894I'm there pretty often now, just wave

[@bwenzin]

Why did you decide to make such a big bet on buying this business?

[@InvestmentJoy]

I was born with nothing, other than a great family, I figured I'll die with a great family still and everything in between is just stuff. I think I would get too bored if I wasn't constantly on an adventure. Plus I get so many messages saying that I'm an inspiration to them they grew up in similar situations to me

[@hazelbasil6451]

​@@InvestmentJoyJust for some perspective, having a great family is an absolute blessing/privilage and is not considered "nothing" by any means. The kind of family and thus environment you are born into shapes the course of millions of lives both socially and economically, for better or worse. Not trying to be nit-picky just something to think about. I have been watching you for a while, and it has been wonderful to see your growth! Wishing you the best of luck!

[@InvestmentJoy]

I agree, but I'd say the general public - Many, many people I've talked to on here, say it's inconsequential (I think it's the biggest thing). However when I mentioned I grew up in a traditional family, albeit poor, these groups bring out economic factors that weren't relevant, which is why I word it like this.

[@thewhiteknight02]

Better than the crack house business or counting change.

[@bwenzin]

@InvestmentJoy I can understand that argument even thou many want less risk when they have a family. :) I really enjoy your content :)

[@ariangreatzone]

Good job

[@InvestmentJoy]

Thanks

[@Tully3674]

Wish you luck. But I think 'mortgaging the house that keeps your family safe' is one of those do as I say, not as I do kinda thing.

[@TT-ik3kd]

Business people take risks thats how they get rewards

[@InvestmentJoy]

At the end of the day - Will my family be happy? There's a base-level of security we have (I had to agree to putting liens on many of my properties, but not all of them). Say I lose my primary residence (Unlikely, but whatever, especially w/ current lien laws against your house in Ohio), I did not expose several of my rentals to this, so I could move into a rental.

[@Tully3674]

@@TT-ik3kd I have owned multiple businesses. Risking family security is foolish, stupid, and selfish. Mortgaging a family home should NEVER be part of a calculated risk.

[@Tully3674]

@@InvestmentJoy So you place your investments ahead of family. IMO, you couldn't afford the roofing company if you have to place family security second to this purchase. Not smart but wish you luck.

[@InvestmentJoy]

Sba requires a blanket lien against all. Property you own. Its a quite standard procedure on every loan they write.

[@AirenPadilla]

I thought he liked Roman Atwood? Sounds like he is hating on Roman’s house. He gave him claw machine for his laundromat Im confused. was it a dry joke or if it was a hater?

[@InvestmentJoy]

I do, I'll explain it further in videos in the future I have all the respect and admiration 4 Roman but I will say when it comes to splurges we are very different people.

[@ExorFS]

@@InvestmentJoy kinda weird but alright

[@AirenPadilla]

@@InvestmentJoy Roman basically is doing what you have done besides the mobile home park rehabs and all that. Good luck with the roofing company and taking to time to explain that.

[@patrickr2686]

Are you the 100% owner or do you have a business partner?

[@InvestmentJoy]

100% , but am bringing on an individual who has the option to be a partner in the future.

[@Richlucch]

Definitely put roofs on veterans homes

[@InvestmentJoy]

That's coming up

[@wizkaqueefa9003]

Nut-Tastic! 🥜

[@Grero]

15:12 leafblower uhhh

[@InvestmentJoy]

Yes?

[@svenson7777]

Hire an internal lead gen person and ladder most of their salary via performance based bonuses. No risk, high reward.

[@InvestmentJoy]

That's the plan at this point. We had what I thought was a very generous commission but I don't think that was enough to motivate people who don't want to work.

[@Notevan420]

I thought that you were going to buy a taco bell

[@InvestmentJoy]

Have to keep everyone on their toes

[@chloegracetv7344]

Where can you find companies for sale? Or construction companies

[@InvestmentJoy]

Bizbuysell has em but we found out most suck

[@fartsackjack7081]

i can work on and rebuild nail guns ...lmk i can drive up grab a load and take em back up when they r done ....

[@InvestmentJoy]

I'm not we use any nail guns

[@fartsackjack7081]

@@InvestmentJoy if ur roofing id think u r air powered nailers ....

[@InvestmentJoy]

We primarily do commercial work in the next video you'll see us do induction welding on one of our major clients

[@fartsackjack7081]

@@InvestmentJoy HMMM INTERESTNG ILL BE WATCHIN