In this episode, Fredrik interviews Carl Allen, a veteran business acquirer, M&A coach, and founder of Dealmaker Wealth Society, about the art and psychology of buying businesses. Carl shares his journey from Wall Street to becoming one of the world's most prolific acquisition entrepreneurs, having completed over 500 transactions across three decades. He explains why understanding seller psychology — not just financials — is the real key to closing deals, and how he's built an AI-powered "clone" of his own decision-making to scale his coaching to tens of thousands of students worldwide. The conversation dives deep into practical deal structuring: SBA financing mechanics, why paying all cash up front is rarely the smartest move, and how creative, no-money-down deals can benefit both buyer and seller. Carl also opens up about running his private equity portfolio through delegation rather than day-to-day operating, pursuing a doctorate at the University of Miami in his mid-fifties, and the personal disciplines — health, recovery routines, and Lego — that keep him performing at a high level. KEY TAKEAWAYS Seller Psychology Over Spreadsheets: Carl's research found that roughly 80% of sellers don't cite money as their top priority when selling — they want a "safe pair of hands" to protect their legacy, employees, and customers. Understanding this motivation lets buyers structure smarter, often cheaper, deals. Never Pay All Cash at Closing: Deferred consideration, seller financing, and structured payouts reduce buyer risk, improve tax outcomes for sellers, and often allow for a higher headline price than an all-cash offer. SBA Financing Fundamentals: A typical SBA 7(a) deal involves roughly 10% buyer equity, 80% bank financing, and 10% seller carry-back (held on standby for at least two years). Loan delinquency on deals over $1M is under 1%. The "Two Offers" Negotiation Strategy: Presenting a seller with two structured options — a slow, all-cash offer versus a fast, higher-value creative deal — leverages binary decision psychology to move negotiations forward. Owner vs. Operator: Carl attributes much of his success to staying strictly in his "zone of genius" (deal-making, numbers, and marketing) and partnering with operators to run the day-to-day of his portfolio companies. BEST MOMENTS "A safe pair of hands to continue my legacy" — on what sellers actually want. "You never, ever, ever pay all the money up front." "The brain works in binary — yes or no." "Every deal, every conversation... will teach you something." CARL ALLEN Free training: trainwithcarl.com Book: Creative Dealmaker — available on Amazon and Audible YouTube: @CarlAllenOfficial (100,000+ subscribers) ABOUT THE PODCAST Invest in You is a global podcast where entrepreneur and investor Fredrik Sandvall shares practical ideas and conversations with founders, investors, and operators. Episodes focus on investing, entrepreneurship, and building long-term control and freedom. Occasionally joined by his sons Ivan and Charlie, the show offers both experience-based insight and a next-generation perspective. Listeners in 155+ countries tune in to think clearer, act smarter, and build with intent. Community & Contact Podcast community: https://bit.ly/4jxF94k Fredrik Sandvall LinkedIn: https://www.linkedin.com/in/sandvall/ Facebook: https://www.facebook.com/FredrikinLondon/ YouTube: https://www.youtube.com/@FredrikSandvall