This 22-year old makes $7,400 a month off her car wash
Here's how:
Here's how:
Hannah Ingram dropped out of college and is now a part-time realtor
She always wanted to build passive income
So as soon as she saved up a down payment, she bought a car wash
She always wanted to build passive income
So as soon as she saved up a down payment, she bought a car wash
Her car wash cost $140k and now cash flows $7,400 per month. Her car wash includes:
Land
3 vacuums
6 self-serve bays
5 vending machines
2 bill collectors
Land
3 vacuums
6 self-serve bays
5 vending machines
2 bill collectors
After her typical 2-week cycle, we see Hannah scoop $1,238.50 in coins into three buckets and another $960.25 into another two.
Add the $1,957 she earns in dollar bills and that brings her fortnightly cash flow to $3,795.75.
Add the $1,957 she earns in dollar bills and that brings her fortnightly cash flow to $3,795.75.
How did she find this property?
You may be thinking…
"Girl buys a car wash at 22? Yep, that’s definitely daddy’s money."
Not this time.
You may be thinking…
"Girl buys a car wash at 22? Yep, that’s definitely daddy’s money."
Not this time.
The answer might surprise you.
Cold-calling.
Just like LinkedIn, everyone points fingers and makes fun of cold-calling. But after all the jokes and memes are done, the truth is this. Cold calling works...if you do it right.
Cold-calling.
Just like LinkedIn, everyone points fingers and makes fun of cold-calling. But after all the jokes and memes are done, the truth is this. Cold calling works...if you do it right.
She picked up her phone and called car washes until she found one that was up for sale.
Thanks to seller financing, Hannah was able to take the reins on the mortgage the previous owners had already taken out.
Thanks to seller financing, Hannah was able to take the reins on the mortgage the previous owners had already taken out.
She was able to skip putting 20% down, taking out a bank loan, and even having her credit score take a hit.
In return, she became fully responsible for paying off the car wash and all its expenses. But, she also got to pocket all its revenue too.
In return, she became fully responsible for paying off the car wash and all its expenses. But, she also got to pocket all its revenue too.
How can you replicate this?
Pick up the phone
I imagine skeptics will read this and say, "If car washes are such great cash cows, why would anyone want to sell them?"
Well, the same reasons as always:
Behind on taxes.
Business fatigue.
Relocating to another state.
Pick up the phone
I imagine skeptics will read this and say, "If car washes are such great cash cows, why would anyone want to sell them?"
Well, the same reasons as always:
Behind on taxes.
Business fatigue.
Relocating to another state.
Comment below if you want more on this and I’ll drop the full breakdown…
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