Uber: Valued at $85 billion, loses $500 million per year
My Laundromat: Bought for $100k, nets $67k per year
My Laundromat: Bought for $100k, nets $67k per year
Couple tricks to make this happen:
1) off market deals (go door knock most won’t)
2) don’t buy RE w/ it but lock in 10-12 year lease
3) find your angle - I’m a local community member, and usually leave their name on the door sellers like that
…
1) off market deals (go door knock most won’t)
2) don’t buy RE w/ it but lock in 10-12 year lease
3) find your angle - I’m a local community member, and usually leave their name on the door sellers like that
…
4) for this price you’re not buying a top tier laundromat, so clean up the place - namely lights, paint, clean
5) don’t stop at one - economies of scale mean less time bc u can afford an operator
6) friend Nigel just bought one for $109 netting $34k a year
5) don’t stop at one - economies of scale mean less time bc u can afford an operator
6) friend Nigel just bought one for $109 netting $34k a year
7) try to get to as little cash down as possible w/ seller financing or equipment loan
8) usually can’t use a bank loan or SBA because of financials
9) 2 things = 90% of your success your rent and your water bill. Biggest expenses.
8) usually can’t use a bank loan or SBA because of financials
9) 2 things = 90% of your success your rent and your water bill. Biggest expenses.
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