Had no clue there was a video about me :D Thanks! I hope it encourages people and similar points of life like me to do well for themselves and the people around them!
Hi Codie, this really changed my perspective. As a Warren Buffett student, I always felt I have to save money to buy stocks but looking at this, I can actually starting buying physical businesses. I'm shocked I never thought of this. Thank you very much 💕 He's a millionaire and his dress is less than casual and he drives a car less than 12k. This is also helpful as I see a lot of young entrepreneurs saving up for a Lamborghini or Ferrari. Simplicity I think, makes a better businessperson
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future. Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. Success depends on the actions or steps you take to achieve it. "You're not going to remember those expensive shoes you bought ten years ago, but you will remember every single morning when you look at your bank account that extra 0 in there. I promise, that's going to be way more fun to look at everyday", I pray that anyone who reads this will be successful in life
You're absolutely right, to be a successful in life required not only hard work but awareness and sometime opportunity at the moment, investment remains the best way to start.
@@manuelitale3545yeah investment is the key to sustaining your financial longevity but venturing into any legit investment or business without a proper guidance of an expert can lead to great loss too.
@@agraimentsyahung726 Obviously talking about been successful, I know I am blessed if not I wouldn't have met someone who is as spectacular as Debra Barton
People come here with the aim of chasing money more than knowledge and that will damage your progress, trust me. Chase knowledge first and I promise! The money will follow you just like it's following some of us now
Same here, It's very confusing seeing so many people talk about the profits the make from there investment in bitcoin while I keep dipping from on win to a bigger loss
Typically a financial adviser will just put you into standard/tried and true products that are mostly just index funds and ETFs. This has been a down year to invest. If I were you I'd be investing broadly into the S&P 500 and broader index funds, that way you're instantly diversified and you don't have to worry about it too much. Over time, your investment shall grow, just don't get too focused on the short-
Bitcoin investment (fx) can be profitable and lucrative when it is approached as a business, but achieving a level of success is extremely difficult and can take a long time. It's a good idea to fine an expert of this form of investment prior to getting started with. As you can see, the market is open and operates 24 hours a day and almost seven days a week
What a poor statement to “love”... For the love of money is the root of all evil... That love affair with money won’t last long in this life, and all the money in the world can’t be brought with you when you’re gone. And the fact that one poster here said they’d be willing to do anything for money is crazy to me... How far or what would you really do for money then? May God touch your life in a way that causes you to turn from this idea and idolatry of money. Nothing wrong with money and wealth, but to proclaim the love of money is truly the root to evil. Idolatry is sin. Greed is sin. Selfishness is sin. These are very few things the move of money will lead you towards. Life is more then just a bank account. Just remember that God is the one who gives all resources in this life including money. And God is in control. As quickly as you think you can make obtain it is as quickly as God can take it away. God over everything! I mean this message well. Don’t fall for the trap the devil lays out in life. Everything in this life comes and goes. All ups have its downs. It’s all like the wind. Like another commentator said, chase knowledge not money. The Bible teaches to chase knowledge and understanding and you will have wisdom. Wisdom is where your true wealth comes from. Don’t love money. One day it will destroy you.
To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough. I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market, what are your thoughts?
Since the crash, I've been in the red. I’m playing the long term game, so I'm not too worried but Jim Cramer mentioned there are still a lot of great opportunities, though stocks has been down a lot. I also heard news of a guy that made $250k from about $110k since the crash and I would really look to know how to go about this.
Thats true, I've been getting assisted by a FA for almost a year now, I started out with less than $200K and I'm just $19,000 short of half a million in profit.
My advisor is ‘’Catherine Morrison Evans’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
Did I miss the part where he said how much it cost him to reno the place & put in new machines after he bought it? $15,000 sounds like a great deal but I'm always VERY suspicious of videos that 'conveniently' leave out all the costs. Still, a very good video.
Didn't end up in final cut - $15k down, $25k renos to get off the ground, 100% of that was from a private second carry. That got me 1yr down the road, making some money, then we put a $100k reno loan in and it was next to nothing down.
@@leewinter28 Depends on your area/demographics. I've seen multiple, single-location mats do over a million gross, bottom line revenue of $200k-$300k. Around here, $200k+ is a very elevated lifestyle
@@InvestmentJoy Great video and very inspiring. My question is how did the seller finance work out in your deal? How did you pay the 70k back to the seller? Lastly what would a seller finance deal look like if the Laundromat was being sold for 150,000
$12K for a washer -- that is NUTS!!!!! I bought a top loading laundromat washer and the matching laundromat dryer in 1987 for $1800 (I had to special order it -- my father knew an appliance dealer so that was how I managed to order it). I still use the washer today -- 35 years later, the only maintenance it has had is one new water pump and a few belts. I don't know how I will get parts for it now when something finally does go to hell on it since it is so old and I replace the belts by taking the old one into the local auto parts and matching it up. The dryer worked for about 25 years but it was electric so when I moved into a house that only had a gas connection point for a dryer (28 years ago)I gave it to my brother (who used it for at least 15 years and me for at least six -- I wanted to cry when he said he scrapped it as it was probably repairable) and bought a standard natural gas dryer (household driers tend to last longer than household washers, mine is about 18 years old now and hasn't needed any maintenance whatsoever). My father's friend ordered the laundromat washer/dryer set for me connected so a coin slot isn't required -- some apartment complexes ordered them that way back then for their laundry rooms so the request wasn't anything unusual.
I have learned a lot from these videos! I Love the interactive way she presents everything! But laundries in Miami are in the expensive range! But thanks Cody for what you are doing here!
Every time I watch her videos it seems so easy, but I don't think it really is, so I attended one of her webinars and found out it will cost me $8000 if I want her course! The guy in this video bought a laundry mat and rental property with $15k, yet she is charging people 8k which for me is not something I am comfortable paying. Codie if you really want to help people make your course much more affordable and not some water down version either. Thanks
The paradox with courses is the less you charge, the less successful people end up being in general. Kind of an odd thing. I've seen guys charge $500 and $5000 for the same product, in the end the ones who spent $5k had higher success rates on average.
@@InvestmentJoy I am sure there is something to what you're talking about, but 8k for her course is ridiculous especially in this high inflation economy. It stinks because I really wanted to get it.
@@amazingchannel222 the reason you think it is so high is the exact reason for the pricing . To avoid clients like you who would cause all the headaches and problems . You already present to be the person who who would sign up for a 3 pay. Make the first installment then call your credit card company and said it’s fraud and want a chargeback !! You just validated the pricing strategy! People who are hungry will be glad to pay the price
Hey there - that is for our mastermind group for people who have over $100k to invest a year. That's just a different level. Start with the 9 day biz challenge for $150 or the ios course that's like $200. The price is high because we have hands on one on one content for those who are taking serious action. Sometimes you get what you pay for. Skin in the game is DAMN important. contrarianthinking.co/courses/
Well done Codi good video . Am heading into second small laundry zero purchase . The a car wash zero money put down but will own 20% equity of two million dollar business . Yes spent a lot time searching and listening to podcast for opportunities but not 1 cent of my own money down . Only thing I put money into a unit complex with my wife renovating our selves will turn into be a B&B or long rentals or sell it late 2024 when economy recovers .
@@phuntymes it’s about sweat equity ! On the car was I search for property secured it through heads of terms , which isn’t a legal binding doc , did P&L , branding traffic count everything that goes into a Car Wash to be able to present to investors . Once investors saw the site the business concept and ROI they jumped at it . For my input get 20% of equity and profit in business . I have already have second site on heads of term , so that will complete try up the branding . Basically I did everything and sold the concept ! Laundromat I was given the business because it was run down old equipment the management didn’t want the headaches anymore they even finance the equipment at 10% for 4 years as long as a take full control over it , that fine it’s nearly 100% paid off . Second on going under contract soon . I am not in America . Seriously there are a lot of people out willing to invest in business , especially cash flow business . Who would put all their put thin the Bank. I am returning 65% on the laundromat. Car wash which will be completed in August will be about 35% to 40% . My goal is to build a lager laundromat with the equity and cash I am building on the two small laundromat. Then I can add fluff and fold and run it 24 hours two differ staff and business model . I wish I was 20 years younger recovering from cancer just don’t energy I had before but still passionate.
When I tell people my homelessness to multimillionaire story they always become defensive. Now I just mention the thought of a million dollars (without mentioning my accomplishments) to see who reacts negatively with a small mindset. Then I know who not to waste my time with befriending.
I love all your content thank you for doing what you do! I am now in negotiations for my first laundry mat all because of you and your content so thank you 🙏🏽! Previous owner did not keep very good books and the play is run down. Definitely opportunities to value add to bring in more revenue. Any specific advice for doing my first laundry mat deal would be much appreciated. Thank you again for being awesome and sharing your knowledge the world needs more of you !
Not being a pessimist or anything but if he's broke and homeless, how'd he start with 15K .... Cause i'm broke but not homeless and my biggest struggle is building up an initial savings of 15K to put into laundromats for example. I'm on my journey there but that initial capital is harder to build than it seems at first. Keep hustling people 👍
Love this! Codie - can you talk about buying a business that's out of state from where you live? Extra steps and considerations? Living in remote north idaho is putting a big damper on finding my first laundromat acquisition! Thanks!
Everything comes at a risk. To make a move and buy something, you have to take a loan. And that itself, if your business doesn't go well, can be disastrous as it can set you and your kids into debt. You NEVER mess with banks. IF you have cash, ok, go buy a business. If you don't, go make some first... Just because one man made it, doesn't mean EVERYONE is gonna make it. Far from it.
Codie your me when I was younger. Love your energy and your brain. Where were you when I was younger? Great videos, really quick and engaging. I really enjoyed following along.
I FEEL LIKE THE HOLE SEASON IS OVER, I'M TRYING TO GET INTO TRADING AS A ROOKIE, BUT I'VE HAD SO MUCH LOSS TRYING TO TRADE ON MY OWN, PLEASE WHAT STRATEGIES DO I NEED TO EARN PROFITS FROM THE MARKET
Have had a look at different businesses in my hometown, and have decided to go back to my old stomping ground. Costs me $100 for raw materials, and get a $4,000 return on $35 of raw materials. On the second $35, add another $100, and that returns another $400 and the last $30 returns me another $200. Potential is there for me to grow the business by 35% year on year, plus branch out into other fields. A business plan was shown to the government funded Enterprise Centre. The consultant gave me a list to work through - a business plan - which was filled out to the best of ability. Returned a week later, and placed the plan on his desk. His eyeballs went wide in several sections. After reading and digesting the document... "I have seen probably about 3,000 plus business plans in the 7 years being here. Suspect that you have understated your profit margins, but, this by far is the most profitable business that I have seen! You have put a lot of thought and work into the business plan, and all of your costings, from what can be determined / gathered, are well inside the ball park. You don't want a business partner, perchance?" My reason for going back to the old stomping ground is due to the fact that am not able to find a job. Have been looking for 10 months, sending applications, and no responses. As am not eligible for benefits, have to do something to get money coming in the door. Your suggestion about creating content to RU-vid, you mentioned in a different video, will reap dividends in spades, as that gives potential customers the chance to see the product, what the product is, and how it will improve their life. So, there is potential for me to have 6 income streams from the one business idea. Part of this could even finish up being an export business, as there are many queries coming from Asian and African businesses for a machine that is being used in my business, which has been built internally. You are also correct about people retiring from business and not being able to sell to the younger generation. One of the original businesses in this field, he has, from what has been told, retired from the industry due to poor health. Another business has sprung up, trying to capitalize on the previous businesses reputation, and is not doing a good job of doing so. This is largely due to poor quality control, which customers are not happy with. We see where it goes. All it needs is one person to run, and it gives me something to do!
Majority of mentioned the building and fixed up what should fix up 1st days I give you that permission because if the billionaire mentioned how can you grow the business you have to keep up the business maintenance and have everything in hand and pay your records
Rented a small storage unit in my town.About 100-200 varying size units.The owner also lives on the property in a very nice well maintained home with an office attached.One day I did the math and was amazed with what he pulls in a month.Seems like he made the best investment in our little town possible.
I can see your soul thoughts your eyes, and they looked sadness. Wishing you loved. Your an inspiration to many. You have a talent I wish I had. For now; I can say it was incredibly inspired by your accomplishments. May some day we meet, in another life or universe. But today I can only aspire to be like you some day
Usually i don't comment youtube videos, but the change in your visual make you even better, this i have to say, nowadays girls follow some trendings that makes them worse, definitely is not your case❤
Making videos and selling "books" how to make money is more profitable than opening a laundromat: These are schemes to have you buy their 8000 dollars handbooks with information that you may find free online. It is better to do your own research in real life, befriend who is already doing it and partner in.
I want to buy one. There's one near me that's been going down hill. Makes me want to buy it. Also got to remember that poorer people use them so prices can't be too high. I've been the poor one. Family of 5 and $30 meant I had to wash and then hang dry at home.
@CodieSanchezCT You have covered the types of business to buy and seller-financed deals. How do you find these businesses? I don't even know where to start. And then how do you know that the numbers someone is giving you are legit and not just made up to make them look (highly) profitable?
Quick one Codie: can you please talk to what's the typical suburb/area that's best for a laundromat. I live middle class and there's virtually none as there's no demand. Keen to hear your thoughts - muchas gracias.
Like the hand up... 10% of this idea which is pennies on a dollar.25%after year. Of just this. Going to and from customers. Saving them time$ and money to do other things. Provided a service. Pickup and delivery. Drop off/ pickup all those cars goin bye... Someone always there. Maybe goings green products, natural outsourcing dry cleaning... Williams ll James r IBEW local 94 international NJ. Proceeds there... Provided a huge service, creating a job in community. Give back to church plus tax incentives... Just a thought
Yup, the amount of money it costs to maintain the machine has to be lower than your profit. Do you know how much parts and repair tech's cost? Crazy if you don't consider this
Instead of blowing 20k on trading I should have done this instead… i how short and simple and to the point this was. Now I’m gonna google search if credit is needed when doing seller financing. My messed mine up
Great video and very inspiring. My question is how did the seller finance work out in your deal? How did you pay the 70k back to the seller? Lastly what would a seller finance deal look like if the Laundromat was being sold for 150,000
Hey Codie, big fan, do you know any good resources to get a glimpse at the books of various SMBs? I know its not public, but for example if you wanted to know avg financials of a smoke shop in NJ, would you just look at the books of ones currently for sale or is there another way to access this info?
I tried this as a side hustle for more than a few months. How much do you estimate you pay each month for damages and theft? I thought so………not profitable or realistic.