My FIRST Laundromat Collection!

hey guys welcome to cashflow coma um so we are gonna do a collection but it's i it's really not possible to do like a week collection because these things get filled up very quickly and i mean i've only been here a couple of days now and i can tell you that having two giant apartment complexes you know it's just it's it's more probable to have like maybe a solid sunday collection which is what it is it's sunday night right now um so we're gonna go ahead and do that and see how much it is on on on probably the busiest day of the week for this laundromat and plus i'm really limited on change and a lot of change that i get just gets dumped right back in here but anyway so this is one day so but it is the busiest day of the week without a doubt um so oh yeah we are dead low importers i'll have to say you know it's not as fun as uh as having a machine that's like it doesn't have one of those a hopper and it's just like just money flooded in there but this is this is our uh this is a really this is our change money if you want to see and find out how much money exactly was spent on this laundromat today not counting um i don't have a wall mounted vending machine for a detergent and fabric softener i'm getting that that's on the way and there's a lot of upgrades coming here a lot very soon too but um so i mean i sell stuff manually manual transactions there just fabric softener clorox and whatever but um so not counting that we can find out exactly how much money was made in one day on a sunday a full sunday if we count every single quarter and don't worry stick around to the end and i will spare you all the counting and all the adding up okay so we're starting from the very back one thing as well um so you quickly learn that certain machines are favored specifically ones in the corners which makes sense i mean those are the machines that i would go for too is the clean one in the corner that never gets any use so like you just saw how badly this one was watch this and then this one is alex right now there are a couple of machines that are down um okay and now we have to go back for another key a lot of different keys here and don't worry i will spare you with me fetching other keys that one did very poorly yeah and you know we uh we want to change i want to change the flooring the walls you know it needs to be modernized not bad the previous owner and even the owner before him i've probably spoken to them for hours now really nice oh no that's just a dirty quarter nice and you know it's amazing what the kind of information that you can get free free mentorship and you know good guidance a lot of really solid solid information that i got for free you know like one thing would have been that the neighbor next to me doesn't really like it here and he wants to leave and eventually if i do good enough um you know knock down the wall work something out financially with the landlord because this is not real estate owned it's rented and [Music] work something out and i'm just going to take all of them and up and probably you could probably double the profit or the total revenue that we make you see that's amazing simple information that i wouldn't have thought of and it doesn't matter how smart you are it just takes experience because i wouldn't have thought of that probably ever so yeah okay the dryers okay all right now actually now these needed let's get these everywhere triple lift yes [Music] [Music] nice and you know there's a lot of stuff not bad there's a lot of stuff that i need in here as well [Music] i won't say how much this place does now but this place does have potential to do 10 maybe 12 000 a month and you know it's really a game is of getting financing because once you're in and you've gotten it now you're playing with a lot bigger numbers and numbers that you have the power to invest more in and it's just amazing what you can do once you get in that once you breach that barrier you know with vending this would have probably never happened but [Music] okay yeah don't worry i will totally spare you the boring cranking these are uh older dryers here as well you know it's just like vending really you know if you apply the same knowledge and experience that i have now if i were to get good used equipment uh i could probably have a solid running place and and uh make it look really nice for you know we estimated around less than a little less than 20 000 and i mean that's totally not unreasonable for for all the stuff that we're getting yeah and um you know it's a funny story um i had enough for either a very good deal on a um on a small property in distress around 1500 square feet 100k and i talked like for 30 minutes with a really great uh hard money lender she was super knowledgeable and again i got a ton of really like free information that people would normally charge especially here on youtube that people would normally charge to get this information and get this knowledge and experience and she just told me everything that i needed to know to get started in under 30 minutes so you know that's another thing is i mean with anything with any investment it's like it's just it's almost as if people feel the need to spend money when they really don't and um you know first if you're ever thinking of buying a course or buying somebody's mentorship or a course you know maybe really ask yourself is there somewhere else where i can learn this for free because chances are there are and i just hate seeing people waste their money and i hate seeing people prey on on inexperienced people that is a serious pepe of mine oh that's right but um you know so i had the choice to uh either do that deal and all in they would pay 100 for the rehab i would pay 15 percent it would and it would be three points and uh you know apart from all the other small fees they throw in there all in it would have it was going to be around 20 000 and um you know something like that and for a little bit more i could have pitched in and started to own my laundromat to which i could start making laundromat money and so i went with this actually the return was a lot better and it just it made sense so the goal here is to really grind out grind it out here as painful as it's going to be i am spending a lot of time here um oh well if i could read that out button and i'm going to leave that in the video too so you know i am spending a lot of time here and i i need to i need to you know really learn the ropes here and do everything that i can and i'm about to put some serious money into this place too um when i do that and when i start advertising and i have a lot of ideas for advertising you can actually even advertise on these walls right here you know and make it cool 50 bucks every two weeks or so what you can do is once i have this place making the money that i want it to make i can then start to worry about really automating it to where i'm not really here at all except maybe for collections um that starts with a couple of things that starts with the machinery the equipment that starts with good seating and good floor renew the floors redo the the walls getting an alexa and getting a ring system and you know pairing the two together [Music] oh that's a good like five pounds already pairing the two together and um you know to where i could see anything and everything that goes on around here um and what else i mean you know walking and unlocking the doors with alexa which you actually can do when you do that then you have automated your laundromat and you know with an employee someone here maybe eight hours a day it's just that the only thing that i'm worried about is that we also offer dry cleaning services and i kind of have to be somebody has to be here to take those clothes because nobody would just leave them somewhere so with that i could probably maybe have someone here eight hours a day but i i at first i need to worry about getting to where uh getting the revenue to where i want it to be every month when that happens then i can worry about getting someone in here to automate it so that i don't have to be here at all unless to collect or as needed so a couple of free advertising things for whoever's still watching there are two gigantic apartment complexes right next to here right one of my employees my i have one employee i have one employee i could either pay her or i could if she knows somebody in the apartment complex pay um them maybe 10 bucks a month and give them one free wash a week to put a sticker on the back of their car or on their door advertising my laundromat it's cheap and you know it also depends on your budget what are you trying to spend for facebook ads easy go local um you know keep it broad men and women ages 18 to 65 that's as broad as facebook ads get as far as age and uh gender keep it broad and then put within five miles right that's one thing that i want to try within five miles i don't think because even within two miles there's three other laundromats next to me um do that and you know i want to take before and after pictures before remodeling which is now and then after remodeling when i have the new machines new um maybe some new lights new floors new walls um and then all the seating areas and i think that'll really you know especially the seating areas that'll really drive up the fun factor for a lot of people because you can't just fill the place up with machines because one you know you got to make it fun nobody's going to want to come in here this is a small laundromat if you hadn't noticed so you know but um yeah guys i i trust me i couldn't tell you how stoked i was when he handed me the keys and i was well when i was sitting in the lawyer's office signing for the contract and you know getting that billing of sale the bill of sale i mean and having my my llc's name on the laundromat and you know my llc owns a laundromat um yes for anyone deciding to get a laundromat hopefully you have an llc um i don't know if any vending guys are watching this or maybe just real estate guys or laundromat guys but yeah definitely get an llc for especially something like this all right guys this last one very fun oh yeah so yeah these will all be going out of service service and uh you know they make money obviously but they're less efficient and they're more expensive to run and you know not everything is profit you know not everything is profit there are many other things to oh yeah see corner ones people just favor the corner ones that's just what it is it's definitely one of those nice okay well here's a very rough estimate of what it weighs the bill counter and the coin counter are coming they are coming oh yeah that's about two hundred and ten dollars two hundred ten dollars easily um yeah let's let's go ahead and count these first though okay how much see again this is like all this money a lot most of it is gonna go right back in that machine so i kind of consider this like your profit because i'm not about to take a bunch of quarters i need a quarter counter the quarter counter is coming guys as far as a computer in here with internet yeah need internet in here a bill counter as well because i mean look at this guys you know this this is crazy right that's crazy yeah guys safe to say this is i mean five pounds of quarters is a hundred dollars and i'm getting a little over ten dollars so we hit our quota for i'm trying to make two hundred dollars a day um apparently this place makes around six thousand a month again i literally just got this place you guys this is probably my fourth third or fourth day here um i'd like to keep it at around 200 a day that's what i that's what i want uh it is sunday that's the biggest day as far as laundry goes um but uh yeah guys so you know thank you very much actually before i ended here you know again as corny and cliche as this is if you watch and you take in advice you know let me actually counter this it's actually not enough because you need two things to act on this and this is going to separate the 99 of people who watch videos and youtube and you know entrepreneur videos and finance videos and all that stuff versus the one percent the one percent guys you need the rocks to act you need to act you you need to put your money where your mouth is this guy said that he had 60 to 70 people interested in this laundromat one person put down a 20 000 deposit for more information so you know life is short take a risk or two do your research you know don't just gamble and throw your money everywhere but do your research you know i looked at the apartment complexes i talked to people around the apartment complexes i asked them where they do their laundry you know i had my way of doing that and just like go up to somebody where do you do your laundry you know so yeah um you got to put your money where your mouth is that's really a lot of what it is that and i hate to say it but the owner before here and the owner before him said that also luck has a big factor as well these guys were selling this laundry mat for very cheap for what it is okay there's luck involved as well but there's also risk and there's also the courage the bravery you gotta have the rocks you gotta act you need to you need to be able to put your money where your mouth is and i am totally i hope i don't want to sound like some kind of wise wannabe mentor on youtube i i hate those guys but i am willing to help you guys out with what i know and i can refer you to even better people who who can definitely you know like people who i watched like i said investment joy i would literally not be in here if it wasn't for his videos so huge shout out to him check his channel out he has awesome content um i mean yeah i'll be sure i'll try to answer i don't get any comments on my videos but you know feel free to like this video subscribe if you want to and you know until next time if i don't post in a while that's because i'm i'm busy and i'm working on on on life and hopefully you guys are as well be safe be happy and we'll see the next one take care

Channel: Pelagius

Views: 42,664

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Id: m5k0_Pc31_I

Length: 17min 47sec (1067 seconds)

Published: Wed Sep 30 2020