E292: Jordan Berry's Journey from Pastor to Laundromat Mogul

Entrepreneurs Circle

Did you know that the average laundromat deal generates higher cash flow than most real estate investments? If you're looking to leave behind your nine-to-five job and achieve financial independence, consider investing in a laundromat.

In this episode, Erik Cabral chats with Jordan Berry, who shares his incredible story of transitioning from a career in ministry to becoming a leading expert in laundromat investing. Jordan also talks about starting Laundromat Resource and how he helps others find financial freedom through laundromat ownership and commercial real estate investing.

Here are some power takeaways from today’s conversation:

• Pivoting from ministry to real estate investing

• Technology and the laundromat industry

• Laundromats as an asset class

• Jordan’s early struggles that led to his consulting business

• The lucrative cash flow of laundromats

Episode Highlights:

[12:58] The Growing Influence of Technology in the Laundromat Industry

The laundromat industry has traditionally been slow in adopting technology, with a reputation for dingy and outdated establishments. However, we are now witnessing a significant shift. Over the past year or two, more technology has been introduced to our industry than in decades combined. Digital payment options such as credit cards, debit cards, app payments, and loyalty cards are becoming prevalent, transforming the way customers interact with laundromats. By eliminating the reliance on quarters and introducing software systems for remote management, including machine activation and repair requests, laundromats can be efficiently managed at scale. As a result, this asset class is poised for continued growth, attracting sophisticated investors who recognize the potential offered by modernizing the laundromat experience.

[23:22] Overcoming Struggles: Jordan's Journey in the Laundromat Industry

Jordan's early foray into the laundromat industry was fraught with challenges, leaving him and his wife under immense stress. As he labored to renovate the neglected laundromat at night, Jordan turned to real estate investing podcasts for guidance and invaluable lessons. However, the business had also become a hub for gangs, leading to physical altercations during his attempts to keep it running. Reflecting on his experience, Jordan realized the importance of thorough due diligence, evaluating deals accurately, and addressing security concerns. Though arduous, these costly lessons propelled him to turn his fortunes around and establish a thriving laundromat consulting business.

[26:33] The Lucrative Cash Flow of Laundromats: A Smart Investment Choice

The average laundromat deal outperforms most real estate investments in terms of generating cash flow. If your goal is to achieve financial independence and leave your nine-to-five job behind, buying a business like a laundromat is a wise choice. The high cash flow potential of laundromats surpasses that of real estate, allowing you to accumulate the necessary funds for your financial freedom. Once you have built up that cash flow, you can then consider investing in real estate for long-term wealth and equity. With the added benefits of low time commitment and attractive tax advantages, laundromats truly offer a winning combination for savvy investors.

Resources Mentioned:

Laundromat Resource

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