Tomorrow’s Fortune

Welcome to the action-packed newsletter designed to help you navigate the world of business and investing. If you missed last week’s post, check it out here. 😎 

Today’s Digest: 

• People are using BNPL to buy TV’s… why not businesses? Today, I’ll walk you through the art and pain of structuring a deal using Seller Financing

• What’s Happening in the Markets? Black Friday Results, Young Adults Buying Stocks > Houses, China’s Slacking Factories, and AI Replacing 12% of Workers

• Deal Review We found a cash flowing Health and Wellness Clinic in Idaho ($200K of Cash Flow). Click HERE for the listing (Deal Review Below)

• 🚨 Moment of Gratitude 🚨
  Just want to take a second to say THANK YOU to every one of you — for subscribing, reading these newsletters, watching the YouTube videos, and supporting this journey in so many ways.

  It genuinely means a lot. LFG! 2026 is going to be so epic…

TOP STORY

The Art of Seller Financing (aka BNPL)…

The simplest way to buy a business — and the hardest to actually find.

Most new buyers think there are only two ways to buy a business:

1. Write a big check

2. Use an SBA loan

But there’s a third path — the one almost no one talks about:

Seller Financing.
The original “Buy Now, Pay Later” for business acquisitions.

Here’s how it really works.

What Seller Financing Actually Is

The seller becomes the bank.
You buy the business today.
You pay the seller back over time (with interest!) using the business’s own cash flow.

Why a Seller Would Ever Agree to This

It sounds crazy until you understand seller psychology.

They choose seller financing because:

• They want a higher valuation

• They want to reduce their tax bill

• They don’t qualify for SBA buyers

• They’re ready to retire and need an exit

When a business has messy books, customer concentration, owner dependency, or SBA-unfriendly revenue…
seller financing becomes the only way out.

The Reality: 100% Seller-Financed Deals Are Rare

Here’s the truth:

Most “good” businesses don’t offer meaningful seller financing.

And 100% seller-financed deals?

That’s unicorn territory. So don’t ever rely on this… especially in today’s market

Typical Example: Buying a Plumbing Company with $0 Down (Gone Wrong)

Business: Plumbing company
Cash Flow (SDE): $300K
Purchase Price: 3× = $900K
Financing: 100% seller note @ 7% for 5 years

Annual payment: ~$243K (Principal: $180k p.a. and Interest of $63k p.a.)
Cash left after payment: ~$57K

That $57K must cover: Your Salary + Working Capital + Reinvestments

But you own 100% of the business from day one.

Does this one work? No… you can’t afford to sustain yourself or the business

Bottom Line: That’s why, regardless of structuring, you have to do the math to ensure the levered free cash flow truly plays out in your favor.

Holiday Season - Gift Your Fav Investor These 3 MUST READS… Check them out and my key takeaways in this YouTube Video!

WHAT’S HAPPENING IN THE MARKETS?

• Black Friday Sales Accelerate Despite Weak Sentiment

  Black Friday retail sales rose 4.1% YoY, according to Mastercard SpendingPulse, marking a stronger showing than last year’s 3.4% increase. Foot traffic and e-commerce both outperformed expectations: online spending jumped 10.4% while in-store sales grew 1.7%. Adobe estimates online shoppers spent a record $11.8B, and early indicators from Pass_by show physical visits rose just over 1.1%.

  Why It Matters:
  The U.S. consumer continues to defy macro pessimism. Despite tariff-driven price pressures, weakening labor-market sentiment, and a softening services PMI, household spending remains resilient enough to anchor Q4 GDP. The composition of spend — apparel and jewelry outperforming — suggests discretionary categories still have legs. For investors, the key question is sustainability: is this a pull-forward of holiday demand or evidence that consumer pessimism is overstated? Cyber Monday will reveal whether momentum is broad-based or front-loaded.

• Young Americans Are Choosing Stocks Over Homeownership

  A new survey shows younger Americans are delaying or abandoning homeownership in favor of channeling savings directly into equities, leaning on retirement accounts and brokerage apps rather than property wealth. For many, the trade-off is rational: high mortgage rates, elevated home prices, and stagnant wage growth make real estate appear inaccessible, while the market’s multi-year bull run makes equities feel like the superior compounding engine.

  Why It Matters:
  This is a generational asset-allocation pivot. Housing has historically been the core vehicle of middle-class wealth creation — and a natural inflation hedge. Moving exclusively into equities introduces portfolio fragility for investors who have never experienced a prolonged equity drawdown, prolonged unemployment shock, or a structural bear market. For allocators, this shift also has macro implications: less first-time buyer demand tightens real estate liquidity, pushes age-based wealth curves further out, and increases dependence on market performance to close retirement gaps.

• China’s Factory Activity Contracts for an Eighth Straight Month

  China’s November PMI readings stayed below 50 for both manufacturing and services, marking the eighth consecutive month of contraction. High-tech manufacturing remained in expansion, but construction and consumer-facing services softened as holiday demand faded. The data sharpen concerns around China’s slow-moving recovery, particularly the drag from property-linked sectors and muted domestic confidence.

  Why It Matters:
  China’s recovery is bifurcated: advanced manufacturing and AI-adjacent production are holding up, while traditional sectors — construction, property services, and household consumption — continue deteriorating. Persistent sub-50 prints raise the probability of targeted stimulus in Q1 and increase pressure on local governments already strained by land-sale revenue declines. For global investors, the uneven landscape complicates sector allocation: China’s growth engine is slowly shifting from broad-based expansion to narrow tech-led resilience, leaving cyclical commodities and construction-exposed names at risk.

• MIT Study: AI Already Capable of Replacing 11.7% of U.S. Workforce

  A new MIT study using the Iceberg Index — developed with Oak Ridge National Lab — finds that AI can already replace 11.7% of U.S. labor tasks today, not in some distant future. The model maps exposure by geography and job category, offering the most granular view to date of where automation pressure is forming. The findings arrive as Congress debates multi-billion-dollar reskilling and robotics-transition programs.

  Why It Matters:
  This is the first empirical, zip-code-level dataset showing immediate displacement potential rather than speculative long-run projections. The implication is that AI-driven labor disruption is not a hypothetical tail risk — it’s a present one, concentrated heavily in administrative support, routine analysis, customer service, and back-office processing roles. For markets, the study suggests two opposing forces: margin expansion for firms aggressively deploying AI, and localized labor shocks that could weigh on consumption, tax bases, and regional economic stability. In other words: AI will boost corporate earnings long before the workforce fully adapts.

SO YOU WANT TO BUY A BUSINESS… 🏦

Deal of the Week (Pass): Idaho Wellness Clinic & Supplement Store – Asking $900,000

Opportunity Overview

This Garden City wellness clinic — offering hormone therapy, general wellness services, and an in-office supplement store — generates ~$1.75M in revenue with $200K EBITDA from a 6,000 sq. ft. leased facility ($8,900/month). Founded in 2015, it positions itself as one of the top wellness centers in the Treasure Valley and includes seller financing.

But once you peel back the narrative, this is not a durable healthcare asset.
It’s a consumer-driven wellness clinic with thin margins, a young operating history, and real exposure to competitive and regulatory risk.

Cash Flow and Profitability

The clinic produces $200K EBITDA on $1.75M in revenue — an ~11% margin. For healthcare services, that margin is weak, suggesting high staff costs, marketing spend, or owner-performed work inflating profitability.

At the $900K asking price, the implied multiple is ~4.5×, but normalized EBITDA is likely lower once the owner steps away. This quickly pushes the true multiple into the 6–7× range — too high for a discretionary wellness clinic with no moat and no payer-backed recurring revenue.

What We Like

• Growing wellness demand in suburban markets

• Established patient base with nearly a decade of operations

• Supplement store adds incremental revenue (though margin-compressed)

What We Don’t Like

• Short Operating History for a Clinic

  • Founded in 2015, this business lacks the multi-decade durability you want in healthcare. Patient loyalty and referral permanence often take 20–30 years to build.

• Crowded, Low-Moat Market

  • Hormone therapy and wellness centers compete with:

    • Med spas

    • Concierge practices

    • Hospitals

    • Telehealth HRT companies

    • National wellness chains

  • There’s no structural advantage here — just marketing spend.

• Supplement Store = Amazon Risk

  • $15–20K/month in supplement sales sounds attractive, but brick-and-mortar supplement retail is being crushed by Amazon on price, convenience, and selection.

• Thin Margins + High Rent

  • $8,900/month rent consumes a large share of EBITDA. A couple soft months can swing the business negative.

• Key-Person Dependency

  • If the primary clinical provider leaves, the majority of revenue disappears.

Key Questions for Diligence

• How much revenue depends on the owner or one key practitioner?

• What % of patients are recurring vs. new-patient churn?

• How much of EBITDA comes from supplement sales? Is it declining?

• What’s the clinic’s reliance on paid advertising to drive volume?

• Any regulatory exposure around hormone therapy in Idaho?

Bottom Line — Verdict: 🚫 Pass

This deal checks the wrong boxes:
short track record, consumer-discretionary demand, Amazon-exposed supplement revenue, thin margins, and intense competitive pressure.

You’re not buying a durable healthcare asset — you’re buying a wellness clinic that depends on marketing spend, trend cycles, and one or two key providers.

For disciplined investors, the risk-adjusted return simply isn’t there.

This newsletter is for informational purposes only and does not constitute investment advice. The content is based on publicly available information, and the author makes no representations about its accuracy or completeness. Readers should conduct their own research before making any investment decisions.