Buying a GIANT Laundromat

"so we're just going to be walking through real quick to document the condition of it because this is so much bigger and there's so much more opportunity here at this laundromat than i have in mind but the cost of it's crazy"

"the equipment these are brand new speed queen washers but they're only a thousand dollars a piece and i think there's 24 in this stack here okay so that's 24 000 of good equipment here everything else needs tore out"

"in the maintenance room some of the plumbing and stuff is from the 70s so it's all infrastructure tear out right"

"here's the one 185 so that's a uh i'm over here hey i'm here so the dry cleaner is the scariest thing because back in the 50s and 60s they use something called perk when the dry cleaning industry started they used kerosene to clean their clothes then they changed to perk in the 50s and 60s which is way worse it's not flammable but you trade the flammability of kerosene for the carcinogenic nature and it was this expensive nasty toxic stuff so what happens when you have nasty toxic stuff you don't dump it down the drains you dump it in your yard the owner here has swore to me they've never used perk i still have to have at least a phase one epa study course yeah i have to have it done and like to redo the dry cleaner it's a half million dollars"

"i met a guy that does virtual dry cleaning yeah do we talk about that yeah just basically have someone else have someone we take it to columbus and we have we have a company in columbus do for three dollars per garment and then yeah and then i just up it to five dollars per garment because that's we're already paying it we remove all of the infrastructure the cost here and we you know we maintain the structure"

"so on that stack there there's 24 washers then we've got the large format there's six medium formats four large formats and this is only one of the two laundromats"

"and probably 30 dryers but the thing is you can put 60 dryers in here without even trying you don't tear a dryer out one dryer out and put one dryer in you tear one dryer out you put two in because they could they're smaller now"

"so i can get the funds to tear out every piece of equipment in the laundromat put all brand new in it's going to cost me you would keep all of the top loads you would replace these would be 24 000 for these these would be replaced with 10 000 10 00 40 grand 40 grand so 64. yeah"

"so i'm pretty much going to offer land value and i'm thinking about probably it's worth land value alone 650 thousand dollars like like everything else but it comes with three businesses"

"there's seven car wash bays each one's ten thousand dollars to redo so that's 70 grand the tunnel there is gonna be three hundred thousand dollars"

"was to put gigantic garage doors on the car wash base just close them down heated and cooled indoor storage yeah and there's a huge need i've talked to developers they need heated and cooled medical storage for medical equipment"

"but for one of these little units out here they're paying 800 a slot so we go from seven car washes to seven storage units at eight hundred dollars per month that's a lot more money than the car wash base are actually making"

"and then they had vending machines over here which you know we have to talk because we're on my channel the snack machine is nice but the drink machine is absolutely destroyed the cans are 60 cents a piece"

"the last traffic study i saw said it's twelve thousand cars a day"

"how many people live here thirteen thousand people in the city so practically every single person in this city drives down this road once a day"

"the lot just sold across the way to dollar general it sold for one acre for 350 thousand dollars"

"this is the only 24 7 in this entire county where my laundromat is there isn't a 24 7 so we're trying to figure out how to make that work and make it run 24 7."

"i've got a guy and he's buying these washers right now for 300 bucks a piece we just sold multiple multiple washers that were broken at 300 piece because he refresh refinishes them"

"so the 200 pound machine is like 75 000"

"i could probably probably look at an 80 pound one it'll cost it'll cost over 20 000 but you make your money back 14 at a time"

"people love the convenience of it because they can do it all at once they now sell high g-force washers that also do most of the drying too which are really they're really good"

"47.6 so that's a little bit less than i thought it would be but we don't have any of the vending machine money at this point otherwise we'd have probably another 250 dollars there"

"so this is what we've done in five days at laundromat and we still have a money collection that we haven't even counted yet"

"we had a half dozen to 10 people in here last night till 11 30 wow which is proof that i have to turn i have to get us to do i have to get this to 24 7 location"

"we've put about eight hundred dollars with quarters in there now ... almost a thousand dollars in quarters here now"

"collect money out of the vending machine that i bought for only six hundred dollars"

"we got some one dollar bills here so that's cool and we'll combine this collection with the other one i did five days ago so when we do we'll separate them out and i've got maybe 10 days worth of vending income"

"this means the week 4 total is 8.92 and over 2 000 in ten days"

"so that brings our three week total to 11.55 these are the ones from week number four for vending ... so that's that's accurate so here's the 20 bill count cool 2047"