six handle

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six handle

six handle

@six_handle

floundering around in the LMM trying to make small companies into big companies

Katılım Kasım 2021
406 Takip Edilen67 Takipçiler
six handle
six handle@six_handle·
Revenue quality in context of the valuation and other svcs is mid tier I think. In comparison to other home service rev quality - pool service, pest control, irrigation/lawn, security are all better. Fragile in sense of its install / large replacement based. If good mgr leaves or lead gen / marketing environment changes or you don’t stay on top of integration, business can easily fall off a cliff. My view is it’s great until it isn’t. At least in my experience - which was what happened. HVAC is very scalable though, higher avg ticket, great proven playbooks. If you can execute and master marketing u can win.
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Kyle Brown
Kyle Brown@MSUKyleBrown·
@six_handle 18x is rich rich even for a huge HVAC biz with scale But calling HVAC fragile with mid tier revenue quality is a bad take
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six handle
six handle@six_handle·
I really don’t understand how anyone can justify paying 18x for an HVAC company (on an EBITDA that is probably 25% fake). Without highly consistent good leadership, HVAC is so fragile and revenue quality is mid tier at best. These are not document storage or pest control biz.
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six handle
six handle@six_handle·
@bonapartay That’s awesome. Very cool biz. I think Berkshire still owns majority but there’s another minority partner. Unsure if that would’ve been from your sell side or a different one though.
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JustAnotherGuy
JustAnotherGuy@bonapartay·
@six_handle I worked on the sellside for access. Left before it got sold. Not sure if it actually traded. Business started off as a search fund
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six handle
six handle@six_handle·
@bonapartay Yes. Access Info Mgmt and Iron Mtn. IMO one of the greatest non-tech business models / roll-ups ever.
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JustAnotherGuy
JustAnotherGuy@bonapartay·
@six_handle Document storage, like access the old Berkshire biz? Iron mountain esq?
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six handle
six handle@six_handle·
@TheSalonDon Prayers up. If it pays off I’ll buy one of your consulting calls.
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Tanning Salon Don
Tanning Salon Don@TheSalonDon·
In the coming days hell will break loose in the market -Trump cannot open strait -Strait is 20% of global oil -Oil price up -Inflation up -Market down Please do something if you follow me An opportunity like this comes once every 5 years Positions below
Tanning Salon Don@TheSalonDon

Over the last 10 years Trump has had the market on a string People are conditioned to think if he causes a crash He can fix it quickly This time he opened a can of worms that he has no control over Unless the strait opens It’s WTI $200 Gasoline $10 / gallon Inflation over 10% Pure economic destruction If he opens the strait (he can’t) I’ll put a MAGA hat on my profile picture

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Tanning Salon Don
Tanning Salon Don@TheSalonDon·
1) Puts on JETS ETF 2) Calls on VXX ETF 3) Oil futures on Coinbase (7x leverage) 4) Buy OILU
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six handle
six handle@six_handle·
I’m going balls long hardware and this is one of the reasons
Bill D'Alessandro@BillDA

I was quoted $10,000 to install two dehumidifiers in my crawlspace. I saved $7,500 by designing a DIY custom crawl space dehumidification system with Claude 🤑 I am not an HVAC professional. Here’s how I did it. Our story begins with the discovery that our new home needed a dehumidifier installed in the crawl space to prevent mold. The professionals told me it would cost $10k, since I’d need one unit on each end due to the size of the space, plus a second drain line installed. “Can’t we just use fans to move the humid air from one side toward the dehumidifier?” They wouldn’t do that. Enter Claude… I uploaded a floor plan of my crawl space and air volume dimensions, telling Claude what I was trying to do. It researched the best dehumidifier sized appropriately for my air volume (100 pints apparently). Found me the best price - $1,500. Now it was time for fans 💨 I had originally envisioned the single dehumidifier at one end of the space, with fans on the opposite end. Claude taught me that would just draw more moist outdoor air in through the vents on that side, creating a linear flow through the crawl space. Instead it modeled the air flow and suggested a circular vortex with 4 fans, one on each wall, in a circle. That sucks in minimal outdoor air, keeping cool dry air circulating. I told it to research appropriate fans. It found four 20” sealed bearing fans on Amazon (impervious to dust), with DC drive motors (more energy efficient than AC apparently). $120 each. 🔌 It told me to buy a smart plug for each fan and a few internet connected humidity sensors. Another $200. Claude mapped where to install everything in the crawl space. Here’s how it works - the humidity sensors monitor the crawl space air continuously. If it ever exceeds 60% humidity, the smart plugs switch on all 4 fans, circulating the air in the crawl space past the dehumidifier until the humidity is below 50% 🔃🔃🔃 Total cost ~$2,500 for everything and one Saturday of work for me. I saved $7,500 vs. the original quote because I didn’t need two dehumidifiers, and Claude tells me my version is nearly twice as energy efficient. Plus I learned a ton about my home and had fun. I didn’t know anything about dehumidifiers, fans, or air flow dynamics before starting. AI can do so much more than write code - the applications are endless.

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six handle
six handle@six_handle·
Ah yes… the annual tradition of all lawyers on X justifying to the world why they’re so happy to not make $11 million last year at K&E
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six handle
six handle@six_handle·
@shawngorham I’m not sure if this could ever sell for 16x but I think “aging-in-place” equipment install + service could be interesting. I’m just starting to look into it. Similar, likely better, revenue quality to garage doors. And demographic growth trend is hard to ignore.
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Shawn Gorham
Shawn Gorham@shawngorham·
Jordan Dublin - Guild Garage sold for $800M Listened to an episode with him - here is what he was looking for... 1) The next frontier that wasn't HVAC, Plumbing or Electrical 2) Residential home service with a $10B TAM 3) One Precedented transaction we could point to, in his case A1 Garage That was in 2024 - What do we think he would choose in 2026???
Mike Botkin@MikeBotkin_

Guild Garage just sold for 16x. $800 million on $50 EBITDA Launched in 2024. Initial raise was $30, according to wots. Did ~30 acquisitions. Sheesh.

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six handle
six handle@six_handle·
@toddsaunders ServiceTitan is 1000x better than some offshore engineering or vibe coder could ever build.
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Todd Saunders
Todd Saunders@toddsaunders·
I truly believe that every blue collar business doing $10M+ should have bespoke software. Not something off the shelf.
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six handle retweetledi
Cluseau Investments
Cluseau Investments@blondesnmoney·
If I see one more video of punch the monkey being bullied I am flying to the Tokyo Zoo and Harambe-ing his assailants
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six handle
six handle@six_handle·
@blueprintsmb22 David Heacock and Filterbuy is my current favorite business and entrepreneurship story.
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six handle
six handle@six_handle·
How is it that, on the same day, we have: AI alarmist article going viral. 50% of white collar jobs gone within 1-5 years AND Massive US jobs beat and lower unemployment I’m too dumb to understand these things
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six handle
six handle@six_handle·
@GShipp Congrats on the exit. Love to see it
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Garrett Shipp
Garrett Shipp@GShipp·
Crazy feeling. On my 530 am flight ✈️ home leaving the city my first independent sponsor deal was done in, in 2024. Closed on the exit yesterday, announced to all our employees (welcomed one new team member from an acquisition we closed the same day). Was receiving grateful texts from employees last night who we gave a “thank you bonus” to. Re-listening to the soundtrack I made to pump me up to resign from my last w2 (hopefully ever).
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six handle
six handle@six_handle·
@GShipp Fair. I will be sad when I don’t live near a SW hub. But with A List Preferred I can buy lowest ticket and get best seat. SW Companion Pass undefeated too. My gf flies for free and we probably use it on 8-12 roundtrips a year.
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Garrett Shipp
Garrett Shipp@GShipp·
@six_handle This sentiment used to be true until seating order and “better than market” pricing. Also, I moved within 15 minutes of DFW, so that killed it for me
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six handle
six handle@six_handle·
I will fly Southwest Airlines until I have private jet money
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six handle
six handle@six_handle·
Had in-person LOI meeting with seller and his wife this week. Went really well and was a reminder of how important it is to get face time with people. Well worth the $800 trip. Not sure if the deal will work out. But I’m 5 seconds into my search so I’ll be good.
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six handle
six handle@six_handle·
One of the most difficult things about search / ETA / IS is that, at least on your first couple deals, you need to figure out what is “good enough”. Opportunity cost can be scary. There is no perfect deal. You can almost always come up with reasons not to do a deal. I think my current returns scorecard is: 1) Can we still make 15-20%+ LFCF equity yield if the business stays flat / little growth? 2) Do I have a decent shot of my equity/carry being worth $10M in 5 years? $25M in 10? 3) Can I see an outside path to this business (starting w/ $1-3m EBITDA) becoming a $20-30m EBITDA biz in 10-15 years?
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