Today, we confront and expose the $0 Laundromat owned by Brandon (Investment Joy). Quite frankly, I'm intrigued by the laundromat business industry in general. It's one of the most effective passive income business next to buying a rental property. So I drove 6 hours just to go tour the laundromat and expose Brandon's secret to starting a laundromat business, owning a laundromat, and expose the cashflow from laundromat. Check out Brand's YouTube Channel! Be sure to subscribe to his channel as well: https://www.youtube.com/channel/UCTz8K5TMmkQkRArybXfoVDg Listen to the 2 Part Podcast Episode that Brandon and I did: Part 1 - https://open.spotify.com/episode/7mjRiAXG6qeL1gyt3c5C66 Part 2 - https://open.spotify.com/episode/2gnV8mA3dV6ZEWhgk2N5Vz I've always been fascinated by the coin laundry business and here we get to tour Brandon's (Investment Joy) laundromat that he opened about 8 months ago. We're going to break down the process on how to start a laundromat business as well. One thing that I do like about Brandon's process for this laundromat was that he actually bought the real estate that houses the laundromat as well. (I thought this was a smart move) Another thing I've uncovered about the laundromat business is that there's a HUGE opportunity to own these laundromats through the means of owner financing. You see, there are laundromat owners who misreport their income and expenses to the IRS because a laundromat is a cash business. Misreporting your income has major repercussions when selling the laundromat. When getting a loan to buy laundromats, the banks are going to look at the previous years' of tax returns for these laundromats. If there's hardly any income on the tax return, it's going to be difficult to get financing to buy the laundromats. So... the way to get around this is to negotiate for owner financing to acquire these laundromats since the sellers can't sell them with a traditional financing route. Laundromat business does require little bit of work in the beginning but once you have systems and processes in place, your time invested in managing the laundromat is simply collecting coins from the laundry machines. 😃 Thanks for Subscribing & Liking our Video! The Kwak Brothers are millennial real estate investors who have acquired over 82 Units of Rental Units and have raised over $20,000,000 of capital for their real estate deals. They are based out of the Chicago-land area and they are dedicated to helping hard-working people become financially free real estate investor! They specialize in owner financing acquisition and raising capital. They are the creator of the FORCE Strategy (Find the deal, Owner Finance It, Raise the Capital, Cashflow It, and Expand your Financial Freedom) 💻 GET OUR FREE COURSES, FORUM, AND EVENTS: https://www.cashflowcolony.com ⌨️ FREE 7 Day Trial To PropStream Real Estate Investing Software: http://reisoftware.thekwakbrothers.com 📊 GET OUR FREE HELOC STRATEGY CALCULATOR & EBOOK: https://bit.ly/2WZUPpm 📋 SIGN UP FOR OUR FREE OWNER FINANCING COURSE: https://freeownerfinancingcourse.com 💻 JOIN OUR FREE FACEBOOK GROUP FOR LANDLORDS & PASSIVE INCOME: https://www.facebook.com/groups/bestreigroup 🔊 Our Podcast Channels: 📻First Deal Experience: 🔹Spotify: https://open.spotify.com/show/7pnHJSNl7vPVFzq69IzC6B 🔹iTunes: https://podcasts.apple.com/us/podcast/first-deal-experience/id1282240923 📻Landlording Automated: 🔹Spotify: https://open.spotify.com/show/1LTAeRg2ZAT1ATI1mdtWM0 🔹iTunes: GET SOCIAL WITH US: 📣Facebook: https://www.facebook.com/thekwakbrothers/ 📣Instagram: https://www.instagram.com/thekwakbrothers/ 📧 Hire the Kwak Brothers to Speak: info@thekwakbrothers.com #laundromat #laundromatbusiness #investmentjoy ======================== ---DISCLAIMER--- The suggestions, advice, and/or opinions that are given by Sam Kwak (The Kwak Brothers) are simply opinions. There are no guarantees of set outcomes. Listeners, guests, and attendees are advised to always consult with attorneys, accountants, and other licensed professionals when doing a real estate investment transaction. Listeners, guests, and attendees are to hold Sam Kwak, Novo Elite, Inc. and the Kwak Brothers brand harmless from any liabilities and claims. Not all deals will guarantee any profit or benefits. Listeners, guests, and attendees are to view and listen to all materials and contents furnished by the Kwak Brothers as a perspective based upon experience.