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George Kamel

πŸ‘€ Speaker
See mentions of this person in podcasts
74772 total appearances
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Voice samples: 181
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Podcast Appearances

The Ramsey Show
Stop Starting Over and Break the Cycle for Good

And I think you can have a great childhood and not buy your way into it.

The Ramsey Show
Stop Starting Over and Break the Cycle for Good

Well, and if you're in debt.

The Ramsey Show
Stop Starting Over and Break the Cycle for Good

the whole time they're going through childhood, you're not gonna be fully present.

The Ramsey Show
Stop Starting Over and Break the Cycle for Good

You're gonna be stressed.

The Ramsey Show
Stop Starting Over and Break the Cycle for Good

There's going to be financial burdens that will take you away from letting you enjoy them as children.

The Ramsey Show
Stop Starting Over and Break the Cycle for Good

And so I think a short time of sacrifice for long-term gain, especially as they enter their teenage years, which is when things really get expensive,

The Ramsey Show
Stop Starting Over and Break the Cycle for Good

You know, they're going to start wanting, there's clothes, there's prom, there's all the activities, the sports, college funding, all of that.

The Ramsey Show
Stop Starting Over and Break the Cycle for Good

You're going to be able to do so much easier without this debt in your life.

The Ramsey Show
Stop Starting Over and Break the Cycle for Good

So some of this is just not feeling the dad guilt that you're doing a bad job.

The Ramsey Show
Stop Starting Over and Break the Cycle for Good

And some of it is going short season.

The Ramsey Show
Stop Starting Over and Break the Cycle for Good

Okay.

The Ramsey Show
Stop Starting Over and Break the Cycle for Good

What's the net profit of the business every year?

The Ramsey Show
Stop Starting Over and Break the Cycle for Good

Okay.

The Ramsey Show
Stop Starting Over and Break the Cycle for Good

So they're basically valuing it at a little under three times that.

The Ramsey Show
Stop Starting Over and Break the Cycle for Good

At 300,000.

The Ramsey Show
Stop Starting Over and Break the Cycle for Good

Yeah.

The Ramsey Show
Stop Starting Over and Break the Cycle for Good

Okay.

The Ramsey Show
Stop Starting Over and Break the Cycle for Good

Have you talked to him about a potential agreement where you basically pay him income out of the profits until he hits a certain amount?

The Ramsey Show
Stop Starting Over and Break the Cycle for Good

Yeah, that's a much safer way to do this.

The Ramsey Show
Stop Starting Over and Break the Cycle for Good

And the only way I would do it is this sort of sweat equity agreement where you pay him a certain amount of the profits.