Has anyone done it? What was your experience?





Has anyone done it? What was your experience?





Can you do your own machine maintenance and repair?





^^You get a manager to do that. Optimized, they return about 10-15% EBITDA so not super exciting. Hands off businesses like automatic car wash, vending, etc always return like 10-15% of purchase price because they give the appearance of "hands off" and all the cash flow streams folks think they can make a business out of that. The reality is a little less rose colored. I haven't done it, only due diligence.
Where Am I? Missing NYC









^^^thanks. I’ve heard rent to own is a buyer beware situation. One of the first homes I owned needed the whole foundation done after a year- brand new and yes it was inspected. I guess when it comes down to it, it is a personal choice. I guess I shouldn’t do it unless it feels like the right choice for me.
I was hoping I could find a rent to own, so I wouldn’t have all the risk of homeownership.





What? Maybe I missed something. Rent to own IS a buyer beware situation. Only 1 -2 % of the options are exercised meaning most buyers lose their money. Don't do it unless it is a relative you trust who is the seller or unless you already have the cash to buy in your pocket.
We were talking about (I thought) owning a laundromat or some other self serve business.
Where Am I? Missing NYC





Side note- this would be in a foreign country (the location of the business.) I'd be able to pay relatives to run it & do maint.
Personally I love Laundromats & not just "poor" people use them. I could see this business being something I'd enjoy for years.





I used to work at a Laundromat/dry cleaning drop off, the owners made good money because it was next to a few apartment complexes with no washing machines in the units and they had nice machines and kept the place spotless, there were always repairs to be done though because 1 machine will always break plus you need cameras. I think the area would be key, mine was next to a few offices for big companies where most people were from out of town and lived in the apartments next door so it was busy.
xoxo





Don't buy a business unless you know it well as in worked there & know all the in's & out's. Don't buy a business that you don't personally run yourself for a while before getting someone else to manage it.
Buying one so your family can have jobs in another country has disaster written all over it. Cause if they end up stealing from you then that family relationship is ruined. You don't owe family members employment.
My Grandfather owned one among other investments too. He'd get up early & go empty the coins out of the machines everyday. But he was there in that city, knew all the cops which helped keep it from being robbed or destroyed.
Video blogs on Camming industry & how to succeed at camming.
Personality is the glitter that sends your little gleam across the footlights and the orchestra pit into that big black space where the audience is. Mae West



I do real estate rental in a PA market (15-25% cap rate)
and my partner does laundries (great cash flow, not sure cap rate for him)
I'm getting ino self storage now, as well as mobile home parks
Cap rate and percentages are very important, but what matters most is CASH IN POCKET. Deals that are great % but really tiny are still at the end...really tiny.
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HOnestly its 2018 id start a online ecommerce store !! Like a lot of people invest in these retirement projects just to end up not retiring and spending their time working in their shit business i see it all the time at restaurants people hop into a business clueless and think since they have money it will work! Yeah id look into starting a online business its a lot less risk free and has more potential to grow over time!!
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