We talked to 118 searchers: the best do these 7 things

This Week in ETA:

• Searchers: After many (118!) conversations with searchers these past few months, our team and I have noticed 7 traits that separate the best from the rest. The top performers are clear on their “why,” grounded in reality, and focused on building real relationships with the seller. They’re teachable, humble, and willing to run through walls. We wrote about their 7 defining traits here. 

• Investors: The structuring of the seller note in an ETA deal has surprising impact and nuance. This post breaks down some of the “gotchas” and most important clauses in the terms.

Plus:

• Raising equity as a searcher? Make sure you understand the standard terms. Deviating from them adds enormous complexity, and often cost and time. 

• 50 lessons learned from top ETA lawyer Eric Pacifici. They’re all gold, but we especially love #13. Spoiler alert: he echoes what I shared above about searchers who stand out as excellent.

• The House just passed a bill called The Equal Opportunity for All Investors Act of 2025. If it becomes law, the wealth and income requirements for accredited investors can be bypassed by passing a financial exam.

Question:

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