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Thread: Laundromat as a retirement investment.

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    Question Laundromat as a retirement investment.

    Has anyone done it? What was your experience?

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    Default Re: Laundromat as a retirement investment.

    Can you do your own machine maintenance and repair?

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    Default Re: Laundromat as a retirement investment.

    ^^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.
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    Default Re: Laundromat as a retirement investment.

    Quote Originally Posted by Bahuba View Post
    ^^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.
    I got what you are saying. In this particular market I'd be able to offer dry cleaning too.

    I did work for a Hells Angel who owned a laundromat but I got the feeling he wasn't worried about whether it was profitable or not.

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    Default Re: Laundromat as a retirement investment.

    Quote Originally Posted by PinkPopcorn View Post
    I'd think that when you offer to do the laundry yourself and fold it that you'd have a lot more room for profit than "stick your dollars here"

    If you could somehow advertise to the adult workers in your area that'd be good, too. You know our outfits are expensive and fragile, so if an ex SW was handling the clothes it might be more comforting than someone who sees fishnet dresses and thinks, "Oh it ripped, whatever its $5" meanwhile that shit is $1,500 and yes it matters if one of the gems comes off.
    Now that's a niche! It might take a while to build business but what a great idea.
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    Default Re: Laundromat as a retirement investment.

    ^^^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.

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    Default Re: Laundromat as a retirement investment.

    Quote Originally Posted by Ifyouseekamy View Post
    ^^^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.
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    Default Re: Laundromat as a retirement investment.

    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.

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    Default Re: Laundromat as a retirement investment.

    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.
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    Default Re: Laundromat as a retirement investment.

    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.
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    Default Re: Laundromat as a retirement investment.

    Quote Originally Posted by Sam38g View Post
    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.
    Lol don't worry in my case concerns about theft won't exist.

    Yep I'm loving this idea. Me encanto

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    Default Re: Laundromat as a retirement investment.

    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.

    PM for more info

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    Default Re: Laundromat as a retirement investment.

    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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