How to Buy Distressed Assets, How to Network with Codie Sanchez | My First Million Ep. #176

About this video

Cody Sanchez, a private equity investor and newsletter writer, joins Sam and Shaan to discuss alternative paths to wealth-building beyond startups and public market investing. They explore underrated business opportunities like pack-and-ship centers, modular homes, and acquiring distressed assets through courthouse auctions, while challenging conventional wisdom about angel investing and venture capital as wealth-building vehicles.

Key takeaways

• Cody argues most people should pursue a portfolio of small, cash-flowing businesses rather than trying to build the next Facebook, as this better aligns with Maslow’s hierarchy of needs and provides sustainable income without requiring world-changing ambitions
• Pack-and-ship centers (PO box rentals) can be profitable at scale with ~1,000 boxes at $15/month each; the real money is in mailbox rentals rather than shipping services, and second locations are easier to scale by acquiring existing customer bases
• Angel investing and individual stock speculation are inefficient wealth-building strategies for most people—Cody recommends waiting until you’ve made $500k-$1M before angel investing, and instead focusing on private market deals, debt instruments, and businesses where you have an unfair advantage
• Distressed asset acquisition works by identifying closing businesses and offering revenue-share deals to acquire their customer rosters at zero upfront cost, a largely untapped opportunity visible on Yelp’s permanently closed listings
• Building genuine professional relationships requires being interesting and actively creating value—not asking for mentorship upfront, but instead offering specific situational advice requests, following up on outcomes, and building rapport organically over time

Episode details: published April 28, 2021 · 38K views · 59:51 long. Summary written by Self Growth Videos from the episode itself. The business ideas, figures and results discussed are the hosts’ and guests’ own claims, shared as brainstorming and entertainment — not verified facts and not investment advice.

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