How I buy laundromats for $0 (Full Process Explained)
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- Опубліковано 28 вер 2024
- A lot of people don't understand that you can actually purchase a laundromat with 0 of your own money. And it's not just laundromats real estate businesses anything can be bought just based on your knowledge base hopefully in this video I do a good job of breaking it down how I get these kinds of Investments done.
Hopefully this de-mystifies a little bit about what I (Or anyone really) can do in order to obtain investments. The end-goal as stated in the video is to cash the property out via SBA financing at around 4% once the business valuation reaches about $250k , this being after new equipment is installed. It should cashflow extremely well, putting NET in my pocket of about $5k/month if my math is right, after all expenses and the gradual income increases.
I have laundromats down to a science. If you want to do laundromats as well click the link:
investmentjoyt...
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Hey guys! I edited this on my phone in like 5 minutes, I wasn't able to add text to the video but added the income/expenses for the REAL ESTATE in the comments section!
Love your channel!
Glad you enjoy!
It would be awesome if you ever get to meet graham Stephen, I understand you’re really busy and I wish you the best with your investments so someday you can have the time to do a lot more videos with other great financial folks like you.
Investment Joy Brandon go to the search bar and search up following Keenan he owns like two laundry mats and he built the inside so strong so it can be open 247 I think you should see what he did and do it to yours than leave it open 247
Also keep up the good work you inspire me to get a laundry mat when I’m older I told my dad about it so he started to talk about it at work and found out that one of the guys at his work got a laundry mat/arcade/car wash/convenient store for 750 grand now a few years later he’s getting 3 mill dollar offers anyway I’m done with my blaber mouth
You sound like my father. SE Ohio, farmer, first in his family to go to college (go Buckeyes!) Moved to Cali in 64, went to work for LA City Schools. Started buying real estate on a shoestring, by 81 quit teaching to do RE full time. In 93 sold property he bought for 3m in 88 for 25m. He's worth close to 80m today. He still goes to the office every day. Hard work and a winner's attitude made it all, and he made me start at the bottom, digging out flooded sewer lines, supervised by an illegal who didn't go to prep school, but knew how to work. It humbled me.
I'm a 40-year old post-career burn out, and this sorta thing you teaching speaks to me, let alone the 16-17 year olds. Keep going I'm learning a lot!
We can't get 30 year loans forever. ;)
@@jmbpinto73 yeah but they don't need to know
You also have another skill that most people don’t have, the ability to verbally communicate at a layman’s level, its extraordinary. Yes dumping quarters into a Menard’s bucket is fascinating but you can make it verbally entertaining and fun. Your a gifted guy. No advance degree is needed with your natural abilities.
Dude I seen a video of you last month and for some reason I think you’re a kind man with a good heart. Keep up the success. Subscriber for life
Glad you enjoy!
I didn’t start till I was 32. 12 years later I have $100m in RE with $200k/month in cash flow.
It can happen.
Rap Leaker if I was going to help a stranger it wouldn’t be someone that typed “u tryna”. I realize you’re (likely) just trying to be funny but learn to speak and type if you want success.
codycast I honestly could use some help. I haven’t been able to get a job since January 2020. Times are rough for me but it would be very grateful and helpful.
Well I honestly could use a mentor. So far trying to learn real estate has been like joining a secret society. Everyone has a alternative motive with very small pieces of a huge puzzle. If you are willing to help I would be grateful
Cameron Bowers since Jan 2020? So you mean since a few weeks? Luckily you’re in the best economy we’ve seen in our lifetimes. The biggest issue facing companies is finding workers
Underpaid OwnerOp I don’t like to give my contact info here so not sure how I can help. Ever go to biggerpockets?
this is why your channel is growing. no bs just pure value.
I find this very inspirational as a realtor in VA, a military spouse and a mother of two, I look to people like you for hope. I think you work hard and you being a father and a husband is really important for me, a lot of people live in a studio apt, not married, no kids and they work 80 hours a week. That's great, but not relatable for me.
Imagine you're trying to do laundry and this guy is here filming...
Compact Cow i mean he’s the owner.
@@campana317 he does have a right to film here, but you're cleaning your clothes and this guy just talking to his camera doe.
@@compactcow lol I know what you meant, they dont know he's the owner so yea they might get a bit curious as to what he's doing
Lol
i found your channel about 2 weeks ago via my two-year-old smashing the links of random videos and we are both hooked. he would rather watch one of the “ohio unboxing” or coin collecting videos over any cartoon and i must say i couldn’t be happier. Thank you for providing us with hours of cuddles, coins and inspiration.
Ha, that's great
I simply LOVE that your net worth is probably many times more than many UA-camrs that dress in fancy clothes and have fancy hair and cars and you look just like a regular dude that drives a beaten up F150 and casually happens to own half a town. Keep it like that!
"fancy hair" Is this a bald joke? :D
I drive a 2012 Kia forte with a salvage title by the way :)
@@InvestmentJoy uhm whats a salvage title? (yeah live across the pond) and I don't think it was a bald joke (rubs my own bald spot) but you know the type that are ALL looks/ALL mouth but has nothing to have it in (the want to look rich) where as you just look like you want to and have a very nice net worth (I would guess with 140 rentalts pouring money into your account every month) :D keep up the good work
My favorite thing about these videos is Brandon repeatedly telling us to stop wasting our time on entertainment ( ie UA-cam).
Good thing my content is EduTainment! I'm exempt!
Hahahaha funny. Just do what I do and watch videos like this while I work. All about making money while learning. Just don’t tell my boss! They would wonder how and why I’m able to drive a forklift. Don’t try it kids. Only professional can do something that dumb and dangerous.
@@InvestmentJoy Kids don't watch tv anymore, just youtube, for endless hours.
You can consume all the content you like but if you don’t put it to work it’s never gonna mean anything to you.
@Diversified Success I’ve started, but small since I work a full time job. I’m starting with 2 candy machines to then work for combo machines. Just waiting until after the holidays to get the LLC process started.
Really enjoy you and your brother. Down to earth, grew up with nothing, making it kind of people... like me.
I'm like alot of people and i hope that comes through in the content.
Investment Joy, could you please elaborate on how you made these "connections"? You said you got a real estate license which was your in. Do you have any advice on someone who does not have a license? The common denominator to all of these investments is knowing the right people and further detail on building those connections would be helpful!
Second, can you please give more detail on the mentioned business plan and finding potential investors.
Dude I would legit hire you to invest for me and make me some money your are legit knowledgeable and smart as hell!
I love your creativity and fearlessness.
I clicked play and its was over, the was 12 minuets of raw valuable intel.
him: *I don't have any connections*
also him: *I bought this laundromat for $0 because I have connections*
Smh
Him. I'm not rich, my net worth is about a million dollars lol I get what hes saying tho
Would love a video that explains how you got started with that initial 25K. Real estate agent tips and knowledge would be good too.
Great video, very informative. Can you elaborate on the deal you piched your investor? Aside from the 9% return what would he get once you refinance and pay his loan off. Does he hold a note on your deed?
No note on the deed, he gets (would get) a % of equity when the refinance goes through.
Hey Brandon I really learned a lot from watching your videos your videos are very informative
I just started following you on tik tok and then came across this video researching how to start my own laundry business!
I have learned so much from your channel in the very short time that Ive been subscribed, thanks a ton for sharing your knowledge!
The biggest problem I’m having is finding that investor when I have no previous experience. Even if I have a plan all the possible investors I know don’t trust me to get the job done mostly because they are family and are scared of everything. You gave me some advice about going to real estate clubs do those types of investors go to those groups too? What are some other ways to find investors in your opinion?
Thank you for the content 💯!
Glad you enjoy!
Keep on keepin on man, 👌
I turned 20 today & im about to buy my first laundromat I appreciate the game my guy
Awesome Brother! I really enjoyed your intro! Man we must be half brothers lol!
Great info to share! Who needs notes? Haha! Knowledge is key!
Love your story man. Keep doing what you do
Keep up the good work. If people are making fun of you, you must be doing something right. I appreciate the content. Ty
my first impression of you was that I assumed about how much you enjoy in over exaggerating. The more I watch, the more I understand how you like to flow your boat.
Very good video. Really interested in this sector.
Please make a video on drafting an effective business plan/ proposal for Laundromat that gets the Investors drooling all over it.
Awesome video. Thank you for the motivation!
Love it man !!!
The utility cost on those machines I see in the background has to be astronomical. Does the manufacture even make replacement parts for those machines ?
The real cost is in downtime due to age, still can get parts, they're not THAT inefficient, but breakdown leads to lost revenue.
Sir, can we talk? You are literally doing what I am dreaming of. Right down to the trailer park. Where I want to build a 1000 soft A-Frame cabin to retire in. How can I get in touch with you?
Opens video:
Hits like
Rich people have other people working for them so their hours are divided up much more. For example: if Joe, Susan, and Guy are working for you then your 24 hours for that day just got doubled. You still have to pay Joe, Susan, and Guy for their hours however you keep what you want from it and pay yourself first. As long as your paying them a menial wage you can get away with it. You don't want to pay them too little or they will make you less money. You don't want to pay them too much because you'll go broke. So you try to meet them in the middle. But there is one thing that you come with that these people aren't equipped with, experience making money. Your experience can fix their economics.
I'm interested in networking, I'm in Chicago, and this Laundromat business for sale just came to me,in February with Real estate, Researching products and Asset Base Lending, Thanks..
Would love to be able to do this or start a vending machine company got the drive and willpower just not the knowledge or money would kill to learn this
Love it Brandon. :-) I appreciate all you have been doing, and being real about what you do. In many ways, you remind me of me. lol. Would love to talk with you sometime about real estate. I'm in Minnesota, and I would like to see how you are acquiring your deals. Sub2 mostly? Do you seek out private money on most deals?
He explains all of this in past videos.
Usually private investment partnerships, got several lease options and purchase money mortgages.
Brandon, by "purchase money mortgages" do you mean investing in Notes?
Great message Brandon!!! Lets see more videos on the trailer park!
This week, i promise!
AUM is a very important number
Love your videos, im not smart enough to figure this out. Butt i still watch your videos.
I think getting yourself around the right people, FORCEFULLY learning stuff as often as you can will help lead you to that 'aha' moment where you get it, or at least get to the next level, and i promise it NEVER FREAKING ENDS. You just realize one day that the stuff that you couldn't get to years ago is now over with and you're on to the next struggle. Not that this is a bad thing, but please, please don't feel like you might not understand it one day (You will if you persevere, I promise!)
Worth comes from within not from wealth
Keep up the incredible content
Glad you enjoy!
turn your microphone around yo user talking into the wrong side 😂
Imma be the first nigga out the bricks to touch real estate because of you 💯💯I’m 18. Where do you think I should start? I got 5k saved up from hitting licks but I wanna be a white collar man like you
Like i said - building connections is very important, I started that off by getting my real estate license at 21. I'm pretty sure if i had to do it all over again I'd still get my real estate license BUT it's not manditory. Finding entrepreneurs to spend time with is very, very important and you can do that through finding real estate investing associations. One of the things I never would have believed when I started out was that there are MANY who want to help you get rich (And they won't charge you anything), you just have to find them. Learning to work hard & be persistent is very, very important.
Investment Joy thanks for the reply 🚀🚀
Nice! 👍🏼
Of course u knew someone. They always know someone. Its not about what u know its about who u know!
I am actually looking for investors at the moment.
Thank you so much.
Is it possible you up the buy price and no investor
Just a word of advice.....dont say you dont watch TV to viewers on youtube wasting their time watching your videos from which you are generating income
without your investors it wouldnt be the same!!!!
You have to work without investor for a while before you get good and people are willing to take a risk with you. Who would risk their own money on the first bastard that comes up with an idea? The investors are there because they see proof he can get this done. The beginnings are hard work without much money!....
I’m a hillbilly from Ohio too. 😂
And see, just because of that we are friends, even if we never run into each other. It's just the way it works
He essentially just described a vendor take-back mortgage.
Wow! Great ideas!
How much do you owe the guy who cut the 40k check when you refinance for 250k to buy him out?
Great video
I love your content but you should make a video showing everything in detail and not a “spit take” kinda hard to understand how you made the deal.
Great video, what happens if you had to default on the note to the original owner how is the agreement structured if it doesn't work out?
I need investors like you 😢😢
Have you talked to investors in your area? They're all around.
Can you make videos of the 3rd laundromat?
0$ outof your pocket but what do you consider to be the worth of your hour? I know it's towards a goal and that is actually the only way to succeed.
So your after all payments to investors and mortgages, you have a 44000 dollar positive cashflow? Like every month you can go buy a new car without getting forclosed on?
Or is it more like 44000-39000=5000
Brandon: FInd a rich guy to invest for you
me: Hey brandon, i got an investment for you :D
Turning them away at this point till i get some managers hired
The trick is to tell the rich man how you can either make him richer, OR you tell them how you can fix their problems.
Information start 3:04
Do you structure your partnerships in the form of syndications or something else?
Whatever happened with the car wash?
That's a good question
Offer still pending
When you get your cyber truck, you can watch TV while it drives you via Autopilot.
That's a good question.
laws for rvs, cars, most motor vehicle prohibit video while operating. Good try though. I do like to drive with a gps thought. That’s fine and it’s nice to have a big screen in my Honda Accord 2013.
*1:47** THANK YOU*
very cool
That mic looks like it is muted. Great stuff though!
I would love to own laundry mat or 2 of them
New old school/UA-cam
Could you do a video on how you deal with the SEC side of the investment?
That's on the list, but is gonna be really, really boring video. What I'd LIKE to do is a whole video series on starting a hedge fund, now THAT I think would be some fun content!
Investment Joy have you ever had to deal with the SEC for your real estate business? As long as your investors are only giving you a loan and aren’t a common enterprise in your company then the deal doesn’t qualify as a security, correct?
Great negotiator
This is such a unqiue channel , really interesting to get the details on how all this works. Keep it up!
Hope it's clear!
Investment joy is the most down to earth guy on youtube.
Hands down the most informational person on UA-cam when it comes to learning about Investments, thank you for another great video, I’m a big fan of the numbers and calculations.
LMK if there's anything that isn't clear....this was the 3rd take and I had given up by this point at making it clearer. Did all the editing on my phone and just posted to youtube :D Better $$ breakdown was in comments, hope you saw that.
Investment Joy I think you do a pretty efficient job at explaining but I remember a month or so ago you used a program like Microsoft. The way you detailed each expense and kept track of it taught me a lot of different things. I think that was better for the people who were serious about the information. The way you invest is so unique because you try to use as little money from your own pocket to get the biggest turnover. That’s mad impressive. Also I did see in the description, 57$ too break even per month, just another reason you’re the best around.
Mass Shrooms
Watch Graham Stephen
@@RealGalaxyGamers just as long as he does the episode I was on first
Watch Ben mallah
"I'm going to be rich!"
*time to get off UA-cam
Can you do a video on utilities? For every dollar paid for a load of laundry how much goes towards electricity, water, etc. How is dealing with utility companies different for a business like a laundromat?
I've done two so far on that topic, will do one end of year
Could you maybe make a video on how you write up s business plan? Things like what you’d put in it/order of information
Yeah, that's on my list.
That's where I'm stuck to
@@InvestmentJoy that should be high on the list, because thats where people probably get the most hung up on. speaking for myself as well. keep up the good work, great videos bro.
Best video I've watched all year. I paid nothing for your knowledge. Thank you so much for sharing what you've learned. You're so valuable.
wow, keep up the good work brandon, also cant wait for the cyber truck video when you get it in a couple of years
That'll be a fun video :D
I was watching the latest Meet Kevin, but this popped up.
As a notification or end screen?
@@InvestmentJoy I jumped ship on Kevin. It wasn´t one of his best.
Same. 😂
Its nice to see what Mike O'Malley has been up too since his "Yes, Dear" sitcom days
The thing about Bill Gates is, yes he has 24 hours in the day, but he extracts massive value from other people's time who work for him.
I think this guy will need to look for talents soon as he can't do everything and keep scaling up!
He’s laughing all the way to the bank @poor holly billy. Good for you!! Pull through cash and the hustle!
Iv done what this man is doing for 30 years ! He is a very smart young man! Bravo buddy!
You’re such a positive man. I think you’re inspiring a lot of people man. Keep up the good work!
Dude I just turned 37 I am watching your content right now and it is amazing thank you. I've been poor all my life and I'm tired of it and so I am learning how to buy a business because I ran across some UA-camr who basically told me getting a business going it's like getting credit and that was a light switch that kicked on now I'm learning how to buy a business wish me luck as I actually go out and get one eventually
Young man you are an inspiration!
Coming from a newer investor, I want to congratulate you on the hard work based success. As a side note, I’m even happier that you are frugal. It concretes your success. God Bless the family man!
Good for you for seeking to teach and inspire others to great things! We need more people like us in the world. Keep going ✈️
Hey Brandon this is some of the best content ive seen in a while! I was wondering if i could request a video where you do a breakdown on pros and cons as well as returns, costs of owning and/or starting these real estate businesses you run. For example an analysis and comparison between your trailer park, laundromat, rental units, and or storage units(not sure if you are into this at all but i am interested in doing this as my first investment). Keep up the great businesses, subscriber for life 👍
Well Done ,your like me a go getter make that money! For you other out there If your not a go getter sit home watch tv. ( UA-cam)
Can we see some coin collections from other laundery mats
How I buy laundromats for $0 -you just need $15k
Frank Rollins I believe he negotiated 15k down. But then had the rich dude investor pay the down payment and give him money for repairs.
Please correct me if I misunderstood. Cheers.
@@Savpiece how i buy for ZERO DOLLARS
Andrew is correct, the seller took $70k back with $15k down, I had someone else pay the $15k down plus another $25k for renovations & some new machines
$1000 for doing nothing. If anyone is making fun of these videos they're clearly living with their parents.
With money comes the ability to figuratively but time, in the sense you can pay people to do things for you, rather than spending your time doing it. That's why time is money, they're interchangable in a lot of cases.