Guy Tried To Sledgehammer My Laundromat $$ Machine
Published: 2022-06-30
Status:
Available
|
Analyzed
Published: 2022-06-30
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
The speaker's car washes generate approximately $30,000 per month in revenue.
"We're doing about $30,000 a month at my car washes."
Pending
The speaker's car washes generate approximately $30,000 per month in revenue.
"We're doing about $30,000 a month at my car washes."
Pending
The speaker suggests acquiring a laundromat business by negotiating a lease with the landlord and leveraging rent abatement to secure a 'free' business, implying minimal upfront capital is needed.
"You're going to go to the landlord, sign a lease with said landlord. Now you've got a free business. Rent abatement. You've never heard of it. It exists."
Pending
There is no specific financing available for purchasing or building laundromats through traditional channels.
"No endemic financing exists to buy or build a laundromat."
Pending
Financing for laundromat equipment can be obtained directly from the equipment manufacturers, often with favorable terms like 0% interest.
"You do that, it's a secret. You do that through the manufacturer of the equipment."
Pending
The speaker's car washes are generating approximately $30,000 in monthly revenue.
"We're doing about $30,000 a month at my car washes."
Pending
The speaker plans to sell 12 houses, netting $350,000-$450,000, to reinvest in other properties, indicating a strategy of portfolio optimization and reinvestment.
"I'm downsizing my portfolio a little bit. I've identified 12 houses to sell. I'm selling 12 places. They should net me in my pocket $350 to $450,000. I'm going to use that money to go and do other properties."
Pending
The real estate value in Chilikathy, Ohio, appreciated by 20% in the past year, adding $40,000 in equity to a property valued at approximately $200,000.
"The real estate in Chilikathy, Ohio rate went up 20%. The real estate's worth probably because the location around $200,000. So, I gained $40,000 in equity on that property."
Pending
Building laundromats in California is extremely difficult and not recommended.
"Is California really hard to build in terms of laundromats? And the answer is it's miserable. Don't do it."
Pending
The easiest way to enter the laundromat business is by negotiating a lease for an existing, potentially 'crappy,' location, and doing so without using personal funds.
"You're not going to buy a laundromat. The easiest way is to go in and negotiate a lease. Take take a crappy place over. Don't do it with any of your money."
Pending
A landlord negotiation strategy involves securing a long-term lease contingent on the eviction of the current tenant, followed by store renovation, improved security, and addressing homelessness issues.
"I want to sign a lease contingent on the exit of the current tenant. That'll be a 15-year term. Then I'm going to retool it. I'm going to light the parking lot. I'm going to shoe the homeless people out."
Pending
Every laundromat should offer wash and fold services, initially delegated to a new entrepreneur rather than the owner operating it directly, especially when managing only one or two locations.
"You should have a wash, dry, fold in every store. Will you run it? Will you operate it? No, not at first. When you have one or two stores, you're going to give that business away to a entrepreneur, the type of person that can't even spell the word, but they want to own a business."
Pending
Building laundromats in California is described as 'miserable' and is not recommended.
"Is California really hard to build in terms of laundromats? And the answer is it's miserable. Don't do it."
Pending
Gumball machines are considered not profitable, with the best performing locations only generating $50 per location.
"The gumball guys that I know that run gumball machines, the best one makes $50 per location. Does not make sense to me at all."
Pending
The speaker plans to sell 12 houses, expecting to net $350,000 to $450,000, which will be reinvested into other properties.
"I'm downsizing my portfolio a little bit. I've identified 12 houses to sell. I'm selling 12 places. They should net me in my pocket $350 to $450,000. I'm going to use that money to go and do other properties."
Pending
The speaker believes that switching from cash to card payment systems in their laundromat would reduce sales by 40%, effectively restarting the business from a financial perspective.
"If I cut my sales by 40%, I'm at $3,600. I have started the whole business over again."
Pending
The speaker is in the process of securing a $1.2 million cash-out refinance on their existing real estate portfolio.
"I've got a 1.2 million cash out refinance I'm working on right now in my portfolio."
Pending
The speaker acquired and renovated their laundromat without using any personal funds, relying entirely on 'other people's money'.
"I spent no money out of pocket to start my laundromat. I used other people's money to purchase the location to fix it up. So, I use no money out of my own pocket."
Pending
The speaker intends to continue acquiring 'small dumpy houses,' renovate them, and utilize a specific system for their improvement.
"I want to continue to buy small dumpy houses, fix them up, and use a system, my system that I've got."
Pending
Building a new laundromat is financially prohibitive due to significant upfront costs, including hundreds of thousands of dollars for infrastructure and environmental impact fees (tap fees), making it inadvisable unless one has substantial capital.
"If you want to have a laundromat in your city, I'm sorry. If you want to make money from a laundromat, the question is where should I put a laundromat? If you build a laundromat, you're going to spend hundreds of thousands of dollars before we get into environmental impact fees, what we call tap fees, tap, right?"
Pending
The speaker acquired and renovated their laundromat without using any personal funds, relying entirely on 'other people's money'.
"I spent no money out of pocket to start my laundromat. I used other people's money to purchase the location to fix it up. So, I use no money out of my own pocket."
Pending
The easiest way to enter the laundromat business is by negotiating a lease for an existing, potentially 'crappy,' location, and doing so without using personal funds.
"The easiest way is to go in and negotiate a lease. Take take a crappy place over. Don't do it with any of your money."
Pending
A landlord negotiation strategy involves securing a long-term lease contingent on the eviction of the current tenant, followed by store renovation, improved security, and addressing homelessness issues.
"I want to sign a lease contingent on the exit of the current tenant. That'll be a 15-year term. Then I'm going to retool it. I'm going to light the parking lot. I'm going to shoe the homeless people out."
Pending
The speaker intends to continue acquiring 'small dumpy houses,' renovate them, and utilize a specific system for their improvement.
"I want to continue to buy small dumpy houses, fix them up, and use a system, my system that I've got."
Pending
Building a new laundromat is financially prohibitive due to significant upfront costs, including hundreds of thousands of dollars for infrastructure and environmental impact fees (tap fees), making it inadvisable unless one has substantial capital.
"If you want to have a laundromat in your city, I'm sorry. If you want to make money from a laundromat, the question is where should I put a laundromat? If you build a laundromat, you're going to spend hundreds of thousands of dollars before we get into environmental impact fees, what we call tap fees, tap, right?"
Pending
Every laundromat should offer wash and fold services, initially delegated to a new entrepreneur rather than the owner operating it directly, especially when managing only one or two locations.
"You should have a wash, dry, fold in every store. Will you run it? Will you operate it? No, not at first. When you have one or two stores, you're going to give that business away to a entrepreneur, the type of person that can't even spell the word, but they want to own a business."
Pending
There is no specific financing available for purchasing or building laundromats through traditional channels.
"No endemic financing exists to buy or build a laundromat."
Pending
Financing for laundromat equipment can be obtained directly from the equipment manufacturers, often with favorable terms like 0% interest.
"You do that, it's a secret. You do that through the manufacturer of the equipment."
Pending
The speaker suggests acquiring a laundromat business by negotiating a lease with the landlord and leveraging rent abatement to secure a 'free' business, implying minimal upfront capital is needed.
"You're going to go to the landlord, sign a lease with said landlord. Now you've got a free business. Rent abatement. You've never heard of it. It exists."
Pending
The real estate value in Chilikathy, Ohio, appreciated by 20% in the past year, adding $40,000 in equity to a property valued at approximately $200,000.
"The real estate in Chilikathy, Ohio rate went up 20%. The real estate's worth probably because the location around $200,000. So, I gained $40,000 in equity on that property."
Pending
Gumball machines are considered not profitable, with the best performing locations only generating $50 per location.
"The gumball guys that I know that run gumball machines, the best one makes $50 per location. Does not make sense to me at all."
Pending
The speaker is in the process of securing a $1.2 million cash-out refinance on their existing real estate portfolio.
"I've got a 1.2 million cash out refinance I'm working on right now in my portfolio."
Pending
The speaker believes that switching from cash to card payment systems in their laundromat would reduce sales by 40%, effectively restarting the business from a financial perspective.
"If I cut my sales by 40%, I'm at $3,600. I have started the whole business over again."
Pending