From Losing $2k/month to Financial Freedom thru Laundromats with Jordan Berry

Passive Wealth Strategy Show - Real Estate for Busy Pros

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About The Guest: Jordan Berry is a laundromat investor who started investing in laundromats as a way to create financial freedom and independence for himself and his family. He has successfully turned around a failing laundromat and has since scaled up his investments in the laundromat space. Jordan is also the host of the Laundromat Resource podcast and offers a course on investing in laundromats.

Summary: Jordan Berry, a laundromat investor, shares his journey of investing in laundromats and how he turned around a failing deal to achieve financial independence. He emphasizes the potential for laundromats to provide passive cash flow and discusses the time commitment required to run a successful laundromat. Jordan also provides insights into finding deals, the pain points of sellers, and the tax advantages of investing in laundromats.

Key Takeaways:

Laundromats can provide financial freedom with just one to three well-run laundromats, depending on the size and management of the business.
Building relationships with laundromat brokers and small business brokers can help in finding off-market deals.
Common pain points for laundromat sellers include retirement, health issues, wanting to spend more time with family, or realizing the business is not as passive as expected.
Depreciation of laundromat equipment and tax benefits of running a business can be advantageous for investors.
A well-run laundromat typically requires 5 to 7 hours of commitment per week, including checking in with employees, collecting money, and scheduling repairs.

Quotes:

"More than 99% of America can replace their 9 to 5 income with one to three laundromats." - Jordan Berry
"Laundromats provide a 20% to 25% return on investment, compared to 8% to 10% in typical real estate deals." - Jordan Berry
"Don't go it alone. You're gonna learn a lot of hard lessons that way." - Jordan Berry

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#Trading #Entrepreneur #Business #Podcasting Education #Self-Improvement #Passive Wealth Strategy