Hi Claudio, first off congratulations on getting a laundromat. It takes guts to sign a lease and do what you did with just getting Danny's course, and that has to be recognized. I actually did something similar to you, although I consulted with Danny a few years ago and just about a year ago hired him for negotiations. Before I did this I had reached out to a few landlords on my own and one had responded back to me, and in that time I had signed a long term lease with that landlord. I negotiated a 3 month post re-tool/grand opening abatement period as Danny suggests in his videos. I was also fortunate that my landlord had already replaced everything in regards to heating and A/C within the last 2 years with high end equipment, so nothing needed to be done there, I basically had to remove the really old, useless equipment, paint the walls, put in new tables, chairs, laundry carts and a window to a back office for an attendant area, put the signage needed on my walls and wait the agonizing period for my equipment to come in and have it installed. I would definitely have to say that the free part of the laundromat was just that for me, but Danny isn't saying everything about it is free, just obtaining the business itself and all the infrastructure. If I hadn't found Danny, I was in the process of possibly purchasing a $235K laundromat, he has a short about it and we have a video where we called this place on one of our landlord calls, Danny spoke to the landlords rep and we found out someone else paid it about a year ago and is going to need to retool for a few hundred thousand more soon, basically paying double for no good reason, he will likely never recover his costs because of this, so Danny is spot on in this regard because I am seeing it first hand with this place. He is in year 1 of a 10 year lease which we discovered as well on our call. Also I guess I had better fortune with financing my equipment, originally they wanted 20% down too but after talking to the leasing company/distributor, they did $0 down and rolled everything into my lease for me. I am a salesman by trade and have been for a little over 20 years, so maybe it was just confidence and knowing how to handle that situation as I deal with it daily (my job also offers financing for purchases so that didn't hurt either). I hope it works out for you and I think it is a good idea to get Danny to negotiate your lease for your next laundromat acquisition. At the very least Danny will not let you sign a bad deal like 4 months total abatement which is the short end of equipment arriving, as well as TI money if it is needed and getting the proper rate of rent, which you admit Danny would have got you a better rate for the entire lease time, which alone would pay his fee easily 10 fold. If your landlord wasn't going to accommodate what you needed in abatement, Danny would have told you to walk away and get a place that would, so you wouldn't be in the spot you are now. Good luck on your current store and I hope to see the story of you and Danny getting a second store soon.
Congratulations on the laundromat. Im curious on what year this was when you had a 0% down payment. From my own experience and the many of other people from online searches/ forms/reddit, they all had to pay a down payment or use there house as collateral. I'm not saying that 0% is impossible because anything is possible but highly unlikely. I like Danny and I'm a fan. I do recommend hiring him but I'm still not convinced that the down payment will be 0 for most people. As far as I know Danny negotiates the lease not the deal with the distributors/loan companies.
@@justinvestclaudio I signed my lease back in May of 2023, had everything delivered and installed right into the early hours of my grand opening on November 1, 2023, I basically pulled a 35 hour 2 days finishing up install around 2am, and then opening at 6am and I wanted to be there for the full first day until 10pm and meet people and introduce myself and the attendant and make sure my attendant was comfortable and had me there to answer any questions that might come up since they were new to this. It was a long 2 days but worth it and I am glad I did it that way, I was able to talk to a lot of my regulars that have been coming weekly/bi weekly for the last 2 months since opening and it was nice getting to know them personally. Through talks on the financing, nothing was mentioned in regards to house collateral with me. I have a very high credit score, so that probably helped me get $0 down possibly and I am aware that may not be the case with everyone who needs financing. I haven't experienced what Danny does for distributors/finance companies in regards to if he negotiates that with/for you, so I can't go into any details with that. I do know he gives solid advice on distributors and looks over your quotes etc, so he at least gives you the ammunition you need to try to hammer out a better deal and pit them against each other like you did yourself (which his method for that is exactly the right way to do it).
This is great. I’ve been binging on your channel for the last four hours. I didn’t realize I watched this like about two weeks ago. That’s is how I discovered your channel this morning or that’s what I thought listening to you trying to open up the store I kind of got concern, but due to the fact that I am a real estate investor that bought properties with no money down and when I was learning the process, I thought it wasn’t real and when I became successful in that field, I realize when I am coaching and mentoring people they don’t listen and they don’t follow everything to the tea and I realize that that can be a big issue for many folks to follow directions. Am going to continue reading the comments below to see if I find more people that have similar results as the person who is commenting on this tread here this is good info thanks
This is the most valuable video on starting a laundromat. Danny is definitely valuable but there are some things he definitely glosses over or flat out avoids discussing. Thanks for sharing all of this info. You have saved people a lot of heart ache. I can't wait to see your opening video.
Thank you for your honesty I was going to start my journey to opening a laundromat and the space is empty with no machines now I know I need a down payment for new machines I was going to be in your position until I ran across your video thank you for the heads up
Thanks for sharing your commentary. I would like to follow your joinery. BTW my cousin is a Paramedic in Houston. Don't know what engine company he's with.
Thanks! I'm glad you liked it. Houston is a busy department but you learn a lot there and those guys are rock stars. I don't work out of Houston but I do appreciate those guys and girls.
@@justinvestclaudio I purchased Danny's course in December. I've just finished my second viewing. I'm saving up for my down payment for equipment and for fixes. Thanks for the honest feedback.
@@keithm.512 I'm glad you got his course. It's a good starting point. Also I'm glad you're saving, don't go into this thinking you don't need money. Also one last thing, when you do scout for laundromats remember, you want them in a low income area BUT that doesn't mean dangerous. Avoiding the dangerous areas will save you a lot of headaches.
@@justinvestclaudio there's only two laundromats in my city. One that 4500sf and the other 800 sf. So I found two that are owned by the same owner about .2 of a mile apart in the same sopping center. They are both fit Danny's criteria. I scope them out on a Friday and I will be going by this Sunday to check out how many customers show up. It's about 25 miles or 30 minutes from my house.
@@keithm.512 no problem to save up the money, but one thing with people who overthink when it comes to business it can be a bad thing sometimes don’t lean on your past experiences in being an employee it typically doesn’t transfer to business. Danny is the expert trust the process it’s OK to save up the money but get started. I need to follow my own advice. I am going to definitely get his course this Monday.
Prior service Army here. Sorry be the only one with a bright idea in the room, but I was trained to create long-term battle campaigns, not scrubbing marks off the flightline or whatever yall did in the Chairforce after parading around all day😋JK Yall are great. Couldn't have done what we did without yall. The bright idea fairy did smack the hell out of my bucket just now while listening to you, and since the Army didn't teach me to multitask I had to pause to do this... Anyways, here's my bright idea: If you wanted to learn on your own after studying his course, all you have to do is practice by calling up landlords of laundromats located so far away that you'd never actually be interested in their place. Just go through the motions of redlining the loi and negotiating with them. Then in the end just say you changed your mind. Do that a few times until the jitters are gone, and ask Danny all the questions you have along the way. When you never intend to actually follow through with places that are really far away from you, then it relaxes your mind and allows you to get the practice you need without screwing up potential future business contacts from your regional area.
@davidt1621 Respect for your time in the Army. I'd glady stay in 5 star hotels and let yall do the real work lol. That's not a bad idea. It for sure would get you better at calling up landlords. Negotiating is something the common person is not taught to do. But like with anything in life, the more you do it the better you get at it.
Getting the infrastructure is a WIN. Lines of Business Credit would have got you in a comfortable space. Thanks for the information of Danny’s price on negotiating. I figured a down payment would be required whether it was rent or the equipment
The call? After saying you had a lease in hand you were not the man to distributors, I mentioned you and a few weeks later I see an excellent video that breaks down a s*** ton of details about this “thing of ours”. Look forward to seeing you crossing the finish line. Later!
Claudio i wonder what would have happened when you bought your equipment if you would of asked about equipment that's been recently repossessed from a failed Laundromat
I don't have the course, so I'm a little bit confused about the equipment down payment. Is Danny saying that he could have negotiated a zero down payment on the equipment? It sounds like you did pretty well just getting 15% but that's still a lot of money out of your pocket (or being able to borrow it from a family member). Is this the "gotcha" of free laundromat?
Sorry for the late response. Danny is saying that there IS a way to not pay a down payment. I disagree with this. Im apart of laundromat forms, where all we do is talk about the business. I haven't met one person yet that said they got it for 0. If one day that person does show up. He'd be the exception not the rule. The "gotcha" part is... Define the word "free" what is free? Getting the lease is free... But those machines no way.
Okay. So at this point I have to call bullshit. We had a cordial interaction on the comments section of another one of your videos a few weeks back. I mentioned that I have gotten several stores equipped with no money down. You stated that in YOUR market that doesn't happen. Well, again, it happens in mine. Now fast forward a few weeks and you're claiming that NO ONE gets equipment for no money down. So you're either lying or your recollection is so poor that it should not be trusted. Our last interaction was cordial, as I think this is the proper way to treat people. At this point, based on the fact that you're either purposely misleading people or incapable of presenting a valid description of reality, I will state exactly what I think happened with your experience. I'm basing this on MY experience, the experiences of the operators in my market (one of which I helped get his free laundromat with no money down for equipment) and the experience of operators I've interacted with outside of my market. I think that what happened with you is that you got your lease and then rushed in to the distributor and meekly asked them what kind of deal they could give you on the equipment. They immediately smelled a mark. You didn't get a good deal because you didn't demand it. Now I already know you're going to say that you demanded the best deal and that they have no incentive to give you a no money down deal. Bull shit. If they have the choice of selling a store full of equipment for no money down or nothing at all, they'll figure out a way to make it happen. You failed in the negotiation and you extrapolate that out to every deal everywhere. I'm 4 stores in. I've never put money down on equipment. I've added equipment to two stores that were doing well, so I've made 6 equipment purchases without money down. I have a friend with 3 laundromats and she's never put money down. I helped another friend get his first location and get it equipped. He didn't put money down. Stop misleading people. I'm passionate about this because if I didn't know how to do this I would still be working my job and struggling to make ends meet. Instead, using Danny's system, I have 4 locations and my family lives comfortably. If I had listened to someone like you when I started my process I'd be in terrible shape financially. Please stop trying to garner internet clout and RUclips $$$ by acting as a foil to a system that's proven to work. You're hurting people.
@@joekling391 I like your style. I have read four comments now that said they got a free no money down on equipment. I would love to touch base with you. Oh my God love your comment. I have been a real estate investor for years and I have bought properties with no money down when I started out. I thought this wasn’t possible and then when I tried to teach people how to do it they want to skip steps and not trust the process, just like our friend here thanks for your comment so much. I am going through his RUclips channel and every comment with a fine teeth comb. Thanks again for your comment. Let me know if we can link up. I am trying to get started in the laundromat business, but I am doing my due diligence.
@@justinvestclaudio you ever heard the saying you are the average of the five people you surround yourself with does Danny seems like a average person my brother where does your opinion comes into this when it pertains to Danny and the service he provides I’ve had enough I’ve read through all the comments and the sub comments i’ve seen enough the crazy thing about it is my girlfriend just by talking where I live now in Florida does not have laundromat and I was telling her about Danny and she said send me the video and the crazy thing is this happened about three weeks ago and come to find out you are in Houston, which is the same place. She is in and that where I am looking at laundromats now good luck, my brother, but have some more humility for the expert not normal on the Internet or Google even this girl she is very beautiful and when you watch her videos, they keep talking about buying laundromat. How does this make any sense when you prove that you can do it you have to understand equipment no money down good luck
Claudio, I am a laundromat owner of 16 years. The short answer to your question is yes they will do zero down. Paul Harvey time "the rest of the story". Approximately 14 yr ago I bought a 80# and 5 60# C-series for CASH. A few years later I got 8 40# for zero down and just recently 18 stack 50# dryers zero down. What this is all about is trust. If you are an experienced owner/operator and you have some goodwill with a distributor the manufacture will finance at zero down and a slightly lower interest rate. The good news for you is you are now a experienced owner/operator. You also now know why they like experienced owner/operators if not just remember all you have been through for the last year. The gauntlet did not kill you. Distributors in my world are like the mafia you have to be ready to cut...
Thanks for sharing your experience. In business, it seems like anything is possible. But for those who are just getting into the business, without any experience. Do you believe it's probable to get 0%? I do agree that once you have your first one it's easier to throw your weight around and get better deals for future laundromats/equipment.
I love the Internet. This is what you call doing your research. You are the second person who says they got free/no down payment on machines and not to mention you have 16 years experience. Thanks for your comment.
I used Danny. I visited probably over 30 laundromats, no joke. I found one with mid 90s machines and over 90% of them were out of service, bathroom destroyed and broken machines/equipment stacked out on the floor. No AC, not one person in the business anytime I went and it wasn’t 24 hours despite the condition of the place and being left unattended all day. Truly the worst of the worst. Far worse than anything I’ve ever seen him showcase. Got a hold of owner and claims the dude is current on his lease which I don’t even see how it’s possible, no one uses the laundromat and the majority of the machines are down. It is literally impossible the operator would be turning a profit. If a case such as this isn’t even bad enough to warrant change what is my luck of even finding something?
I've seen plenty of mats in the shape that you described. There is a possibility that the landlord is also the operator. So he owns the real estate therefore doesn't pay rent. Having old machines means he doesn't have to pay a monthly fee for them. With all that being said, just keep at it. The person who flips over the most rocks wins. It may even take a year or more. Keep that landlords number and try again in a few months. No rush my friend.
@@justinvestclaudio I’m convinced the operator isn’t the landlord. I met the operator and actually had a small chat. He was in there one time i went, I’d usually just give people some bs reason as to why I was there. We got the landlords number from a newer business in the plaza. I’m actually surprised how freely people give it out sometimes. The mat has a 2.2 star on google and has all mid 90s wascomats, it’s one of the worst businesses I’ve ever seen of any kind. Also talked to another place in a large plaza, again, no AC, nasty filthy bathroom, roaches on the machines. The attendant area was just a bunch of dirty plywood boards and handwritten notes everywhere. Broken machines, literally watched a woman carrying her laundry in and out of the place soaked in sweat and looked like she was going to die. Call again and once more, operator is up on rent…? No joke dude i have been to over 30 laundromats maybe even closer to 50 (I stopped counting). I’ve explored every laundromat within 100 miles of my home I’m pretty sure lol.
Wow, listening to these stories now I see it is possible to get a free laundromat but scouting. The properties won’t be easy. I am ready for the challenge and I have started already.
I am watching back your video here for the second time what you said is very smart and I know that you are a smart guy that’s the issue with a lot of people who are smart. They think they have all the answers. That’s my experience in doing real estate investing I never passed the eighth grade, but I am more financially well off more than even my doctor friends that won’t listen to me how to stop working for money you are right, a students are the ones that will watch RUclips videos, purchase the course, higher, Danny to negotiate the lease and one of the most important thing he will always consult with you and give you direction and how to get there equipment for no money so you have to stop saying that it’s not possible that’s because you did not follow the process
@@justinvestclaudio absolutely however if someone is broke and they have no choice I am the kind of person who believes in READY FIRE AIM, that’s how I became successful in real estate not having it all figured out sometime isn’t worth it, especially if you are tired and frustrated with your job and you are extremely broke. What else do you have to lose if you are truly broke just give back the lease, that’s an easy thing to do wouldn’t you agree?
I’ve been working with Danny for 6 months and am losing hope of signing a lease. Out of 150 laundromats not 1 landlord is interested. I see why most of Danny’s clients quit
I have a VERY hard time believing you scouted 150 laundromats and got 150 phone numbers for landlords/leasing agents.. I work with Danny also.. that would mean you scouted 25 stores AND got 25 numbers every month for 6 months straight.. don’t come on here to be untruthful.. I know what it takes because I’m doing it as well. If you scouted 150 mats and got the proper numbers you would have many laundromats already
I watched this call and i have to say if you've watched any of his other video's you know he is looking for direct answers to direct questions and isn't necessarily interested in the "story".
@@justinvestclaudio I know but he was looking for the synopsis not chapter by chapter. I know not everyone gets that bit when you've been in business a long time and time is money people tend to get to nuts and bolts.
I agree with you he didn’t make a mistake. All you have to do is get started and don’t give up. There is no failure. It’s only feedback. I love his story.
@@menardtexsampson3745 There's no failure? Really? I'm pretty sure the guy who loses all his money day trading and has to sleep under a bridge has failed. Not saying you can't try and take another swing at it but it's still a failure.
It seems like you have a lot of emotions in this business, Claudio. You need to stop caring about what the landlord says and feels. You need to talk to her straight up and straight to the point. It sucks, but you are in a pickle, and you need to try and leverage yourself so you can benefit from this somehow, some way. Meaning you need to talk to her and ask for 2 weeks back that she took for you and then you need to talk to her about paying your monthly rent! You are not even OPEN! You need to communicate with her and tell her that you are not open, you do not have cash flowing in, and that you need to work something out with her for that. Another thing you failed at doing, which hurt you BIG TIME, was finding out WHY she only gave you a 4-month rebatement..... that does not even sound reasonable, especially since you have no machines. Another thing that held you back and hurt you was not doing your due diligence all the way. You had no cash to your name, and in any business in the US, you need a hefty amount of cash. I feel bad that you fell for his market gimmick that the laundromat is free. God will bless you for providing this type of intel, all for free on RUclips. Ignore the haters on the comment section most of them don't even have the balls to talk to landlord or even go out and find a rundown laundromat. I commend you for everything you did and I truly wish you the best! If you have any way in getting contact with you, I would like to be able to email you or text you.
@@justinvestclaudio some are better at extracting water at the end of wash, some are better at up charging with “extras”, some are more efficient, more durable, part prices are higher or lower depending on brand, the agitation of drum washes clothes differently, there’s different tiers of machines with different G-Force. I can literally go on and on. Don’t tell people they’re all the same. I’ve been doing this for 14 years
@Vatchg All brands offer different levels of G force. If you can show me a study that proves a Dexter washer of the same G force washes better than a Maytag. I'll admit I was wrong. Until studies are done then it's all hearsay. This is like truck guys debating what brand is better... it's all the same garbage.
@@justinvestclaudio brother, there are machines with 100, 200, 400 and 450 G force. I can literally see it in my utility bills. The clothes come out way more dry, decreasing dry time. When there’s 20 customers in the store on a Sunday it makes a world of a difference getting people out faster. You can go on every manufacturers website and look at the build sheets and see as well. I also know a lot of people with laundromats and we talk often and compare bills by usage and income. It exists
The fact that you felt the need to say the utilities aren't free so it's not a "free laundromat" just shows you jumped into this way too quickly. I respect your service and work you do but you are lacking business acumen which is exactly why you should've utilized Danny's experience.
@minhlu3518 What mistakes? The course should stand on its own. The distributors don't have to give you 0 percent down, you know that right? If they say 20 or 30 and stick to it, what will you do about it?
@@justinvestclaudio Sounds like you took a less than optimal deal and didn't take advantage of an experienced consultant to prove a point or as a matter of principal - the problem is, the jokes on you in the end since you're the one stuck in a bad situation.
@chaiborg733 hmm no I wasn't trying to prove a point. I bought a course that should of been able to stand on its own. Do you not agree ? So step one get the DVD Step 2 get Danny's number Step 3 use him to negotiate But the DVD told me free laundromat, it didn't say "this is the first step of 3 to free laundromat ". Anyways ... today the laundromat is profitable. Stay blessed homie.
I watched this entire video (twice) now. First in his RUclips. Your takeaway is "nothing ifs free"! bro, even danny says that about 100 times a week. He called you for free, he gave you his phone number for free. you have a laundromat for free. If someone just ffweds to the end of your video they wont hear how he talked to you about everything from getting you store opened to how to fix your flat tire. You admit you should have been more involved in his help. Using his email for free. the dude is a saint. do you have any ideo how valuable it is to have his number? You donlt think ahead. how about your grand opning? Your taxes, your employees. When it's time to renew your lease with this landlady? he's willing to be your merntor and you bite him for youtube clicks? wow.
Your comment here is very unpointed and I figure that the response was going to be his response but it’s another person. The ego is big for him when I started listening to his videos. I got very concerned that what Danny was saying could be off but by me coming back to this video and watching at least four videos on his channel This morning and coming back to this one and watching it a second time I realize that there is no humility because why he didn’t answer to the comments like yours here great critique
Re: $1/sq ft My understanding and based on Danny’s thinking. He will tell you the cheapest you can get. Based on any given market and his videos, it can range from .80cents - $1.67
When asking land lords in my area they ranged from 1.10 to 2.25. I felt like it was a win to get 1 dollar but as you can see in the video Danny says I could of done better. And he is likely very right.
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Hi Claudio, first off congratulations on getting a laundromat. It takes guts to sign a lease and do what you did with just getting Danny's course, and that has to be recognized. I actually did something similar to you, although I consulted with Danny a few years ago and just about a year ago hired him for negotiations. Before I did this I had reached out to a few landlords on my own and one had responded back to me, and in that time I had signed a long term lease with that landlord. I negotiated a 3 month post re-tool/grand opening abatement period as Danny suggests in his videos. I was also fortunate that my landlord had already replaced everything in regards to heating and A/C within the last 2 years with high end equipment, so nothing needed to be done there, I basically had to remove the really old, useless equipment, paint the walls, put in new tables, chairs, laundry carts and a window to a back office for an attendant area, put the signage needed on my walls and wait the agonizing period for my equipment to come in and have it installed.
I would definitely have to say that the free part of the laundromat was just that for me, but Danny isn't saying everything about it is free, just obtaining the business itself and all the infrastructure. If I hadn't found Danny, I was in the process of possibly purchasing a $235K laundromat, he has a short about it and we have a video where we called this place on one of our landlord calls, Danny spoke to the landlords rep and we found out someone else paid it about a year ago and is going to need to retool for a few hundred thousand more soon, basically paying double for no good reason, he will likely never recover his costs because of this, so Danny is spot on in this regard because I am seeing it first hand with this place. He is in year 1 of a 10 year lease which we discovered as well on our call.
Also I guess I had better fortune with financing my equipment, originally they wanted 20% down too but after talking to the leasing company/distributor, they did $0 down and rolled everything into my lease for me. I am a salesman by trade and have been for a little over 20 years, so maybe it was just confidence and knowing how to handle that situation as I deal with it daily (my job also offers financing for purchases so that didn't hurt either).
I hope it works out for you and I think it is a good idea to get Danny to negotiate your lease for your next laundromat acquisition. At the very least Danny will not let you sign a bad deal like 4 months total abatement which is the short end of equipment arriving, as well as TI money if it is needed and getting the proper rate of rent, which you admit Danny would have got you a better rate for the entire lease time, which alone would pay his fee easily 10 fold. If your landlord wasn't going to accommodate what you needed in abatement, Danny would have told you to walk away and get a place that would, so you wouldn't be in the spot you are now. Good luck on your current store and I hope to see the story of you and Danny getting a second store soon.
Congratulations on the laundromat. Im curious on what year this was when you had a 0% down payment.
From my own experience and the many of other people from online searches/ forms/reddit, they all had to pay a down payment or use there house as collateral.
I'm not saying that 0% is impossible because anything is possible but highly unlikely.
I like Danny and I'm a fan.
I do recommend hiring him but I'm still not convinced that the down payment will be 0 for most people.
As far as I know Danny negotiates the lease not the deal with the distributors/loan companies.
@@justinvestclaudio I signed my lease back in May of 2023, had everything delivered and installed right into the early hours of my grand opening on November 1, 2023, I basically pulled a 35 hour 2 days finishing up install around 2am, and then opening at 6am and I wanted to be there for the full first day until 10pm and meet people and introduce myself and the attendant and make sure my attendant was comfortable and had me there to answer any questions that might come up since they were new to this. It was a long 2 days but worth it and I am glad I did it that way, I was able to talk to a lot of my regulars that have been coming weekly/bi weekly for the last 2 months since opening and it was nice getting to know them personally.
Through talks on the financing, nothing was mentioned in regards to house collateral with me. I have a very high credit score, so that probably helped me get $0 down possibly and I am aware that may not be the case with everyone who needs financing.
I haven't experienced what Danny does for distributors/finance companies in regards to if he negotiates that with/for you, so I can't go into any details with that. I do know he gives solid advice on distributors and looks over your quotes etc, so he at least gives you the ammunition you need to try to hammer out a better deal and pit them against each other like you did yourself (which his method for that is exactly the right way to do it).
This is great. I’ve been binging on your channel for the last four hours. I didn’t realize I watched this like about two weeks ago. That’s is how I discovered your channel this morning or that’s what I thought listening to you trying to open up the store I kind of got concern, but due to the fact that I am a real estate investor that bought properties with no money down and when I was learning the process, I thought it wasn’t real and when I became successful in that field, I realize when I am coaching and mentoring people they don’t listen and they don’t follow everything to the tea and I realize that that can be a big issue for many folks to follow directions. Am going to continue reading the comments below to see if I find more people that have similar results as the person who is commenting on this tread here this is good info thanks
This is the most valuable video on starting a laundromat. Danny is definitely valuable but there are some things he definitely glosses over or flat out avoids discussing. Thanks for sharing all of this info. You have saved people a lot of heart ache. I can't wait to see your opening video.
Glad you liked it, the grand opening will be the next video 😊
I sincerely appreciate this content. Thank you. Super informative and cutting through the bs.
Thank you for your honesty I was going to start my journey to opening a laundromat and the space is empty with no machines now I know I need a down payment for new machines I was going to be in your position until I ran across your video thank you for the heads up
Glad I could shead some light on the situation. Save up your money before diving in to a lease.
@@justinvestclaudio yes will do thank you
Thanks for sharing your commentary. I would like to follow your joinery. BTW my cousin is a Paramedic in Houston. Don't know what engine company he's with.
Thanks! I'm glad you liked it. Houston is a busy department but you learn a lot there and those guys are rock stars. I don't work out of Houston but I do appreciate those guys and girls.
@@justinvestclaudio I purchased Danny's course in December. I've just finished my second viewing. I'm saving up for my down payment for equipment and for fixes. Thanks for the honest feedback.
@@keithm.512 I'm glad you got his course. It's a good starting point. Also I'm glad you're saving, don't go into this thinking you don't need money.
Also one last thing, when you do scout for laundromats remember, you want them in a low income area BUT that doesn't mean dangerous. Avoiding the dangerous areas will save you a lot of headaches.
@@justinvestclaudio there's only two laundromats in my city. One that 4500sf and the other 800 sf. So I found two that are owned by the same owner about .2 of a mile apart in the same sopping center.
They are both fit Danny's criteria. I scope them out on a Friday and I will be going by this Sunday to check out how many customers show up.
It's about 25 miles or 30 minutes from my house.
@@keithm.512 no problem to save up the money, but one thing with people who overthink when it comes to business it can be a bad thing sometimes don’t lean on your past experiences in being an employee it typically doesn’t transfer to business. Danny is the expert trust the process it’s OK to save up the money but get started. I need to follow my own advice. I am going to definitely get his course this Monday.
Thank you for this video!!!! Great insight….. lots of gems
Prior service Army here. Sorry be the only one with a bright idea in the room, but I was trained to create long-term battle campaigns, not scrubbing marks off the flightline or whatever yall did in the Chairforce after parading around all day😋JK Yall are great. Couldn't have done what we did without yall. The bright idea fairy did smack the hell out of my bucket just now while listening to you, and since the Army didn't teach me to multitask I had to pause to do this...
Anyways, here's my bright idea: If you wanted to learn on your own after studying his course, all you have to do is practice by calling up landlords of laundromats located so far away that you'd never actually be interested in their place. Just go through the motions of redlining the loi and negotiating with them. Then in the end just say you changed your mind. Do that a few times until the jitters are gone, and ask Danny all the questions you have along the way. When you never intend to actually follow through with places that are really far away from you, then it relaxes your mind and allows you to get the practice you need without screwing up potential future business contacts from your regional area.
@davidt1621 Respect for your time in the Army. I'd glady stay in 5 star hotels and let yall do the real work lol.
That's not a bad idea. It for sure would get you better at calling up landlords.
Negotiating is something the common person is not taught to do. But like with anything in life, the more you do it the better you get at it.
Getting the infrastructure is a WIN. Lines of Business Credit would have got you in a comfortable space. Thanks for the information of Danny’s price on negotiating. I figured a down payment would be required whether it was rent or the equipment
Claudio thanks for this call review. What bird did you kick tires. I’m MUNS, did 7 active still reserve
@kylerohlfs3645 I was the electrician on the C130J. It was a good time. Heck ya man keep on kicking ass👊
The call? After saying you had a lease in hand you were not the man to distributors, I mentioned you and a few weeks later I see an excellent video that breaks down a s*** ton of details about this “thing of ours”. Look forward to seeing you crossing the finish line. Later!
Man, if i lived in Houston. I would help, but I am in san antonio. A year from now, you'll be up and running with a big hick up has a big success.
Thanks bro ✊🏼
Claudio i wonder what would have happened when you bought your equipment if you would of asked about equipment that's been recently repossessed from a failed Laundromat
Do you have an email or way on contact you? thanks Tony.....I'm in a similar position,
I'll set up a way that we can communicate here soon.
@@justinvestclaudio sounds good. I'm retired Navy.
Laundromat resource and Laundromat millionaire are good RUclips channels.
What's up man I'm glad your making these videos
@@selfmadeenterpirse7072 thanks, I do it to help others. I don't want anyone to find themselves in a bad spot.
I don't have the course, so I'm a little bit confused about the equipment down payment. Is Danny saying that he could have negotiated a zero down payment on the equipment? It sounds like you did pretty well just getting 15% but that's still a lot of money out of your pocket (or being able to borrow it from a family member). Is this the "gotcha" of free laundromat?
Sorry for the late response.
Danny is saying that there IS a way to not pay a down payment.
I disagree with this. Im apart of laundromat forms, where all we do is talk about the business.
I haven't met one person yet that said they got it for 0.
If one day that person does show up. He'd be the exception not the rule.
The "gotcha" part is... Define the word "free" what is free? Getting the lease is free... But those machines no way.
Okay. So at this point I have to call bullshit.
We had a cordial interaction on the comments section of another one of your videos a few weeks back. I mentioned that I have gotten several stores equipped with no money down. You stated that in YOUR market that doesn't happen. Well, again, it happens in mine.
Now fast forward a few weeks and you're claiming that NO ONE gets equipment for no money down. So you're either lying or your recollection is so poor that it should not be trusted.
Our last interaction was cordial, as I think this is the proper way to treat people. At this point, based on the fact that you're either purposely misleading people or incapable of presenting a valid description of reality, I will state exactly what I think happened with your experience. I'm basing this on MY experience, the experiences of the operators in my market (one of which I helped get his free laundromat with no money down for equipment) and the experience of operators I've interacted with outside of my market.
I think that what happened with you is that you got your lease and then rushed in to the distributor and meekly asked them what kind of deal they could give you on the equipment. They immediately smelled a mark. You didn't get a good deal because you didn't demand it. Now I already know you're going to say that you demanded the best deal and that they have no incentive to give you a no money down deal. Bull shit. If they have the choice of selling a store full of equipment for no money down or nothing at all, they'll figure out a way to make it happen. You failed in the negotiation and you extrapolate that out to every deal everywhere.
I'm 4 stores in. I've never put money down on equipment. I've added equipment to two stores that were doing well, so I've made 6 equipment purchases without money down. I have a friend with 3 laundromats and she's never put money down. I helped another friend get his first location and get it equipped. He didn't put money down. Stop misleading people.
I'm passionate about this because if I didn't know how to do this I would still be working my job and struggling to make ends meet. Instead, using Danny's system, I have 4 locations and my family lives comfortably. If I had listened to someone like you when I started my process I'd be in terrible shape financially. Please stop trying to garner internet clout and RUclips $$$ by acting as a foil to a system that's proven to work. You're hurting people.
@@joekling391thanks for this comment
@@joekling391 I like your style. I have read four comments now that said they got a free no money down on equipment. I would love to touch base with you. Oh my God love your comment. I have been a real estate investor for years and I have bought properties with no money down when I started out. I thought this wasn’t possible and then when I tried to teach people how to do it they want to skip steps and not trust the process, just like our friend here thanks for your comment so much. I am going through his RUclips channel and every comment with a fine teeth comb. Thanks again for your comment. Let me know if we can link up. I am trying to get started in the laundromat business, but I am doing my due diligence.
@@justinvestclaudio you ever heard the saying you are the average of the five people you surround yourself with does Danny seems like a average person my brother where does your opinion comes into this when it pertains to Danny and the service he provides I’ve had enough I’ve read through all the comments and the sub comments i’ve seen enough the crazy thing about it is my girlfriend just by talking where I live now in Florida does not have laundromat and I was telling her about Danny and she said send me the video and the crazy thing is this happened about three weeks ago and come to find out you are in Houston, which is the same place. She is in and that where I am looking at laundromats now good luck, my brother, but have some more humility for the expert not normal on the Internet or Google even this girl she is very beautiful and when you watch her videos, they keep talking about buying laundromat. How does this make any sense when you prove that you can do it you have to understand equipment no money down good luck
Claudio, I am a laundromat owner of 16 years. The short answer to your question is yes they will do zero down. Paul Harvey time "the rest of the story". Approximately 14 yr ago I bought a 80# and 5 60# C-series for CASH. A few years later I got 8 40# for zero down and just recently 18 stack 50# dryers zero down. What this is all about is trust. If you are an experienced owner/operator and you have some goodwill with a distributor the manufacture will finance at zero down and a slightly lower interest rate. The good news for you is you are now a experienced owner/operator. You also now know why they like experienced owner/operators if not just remember all you have been through for the last year. The gauntlet did not kill you. Distributors in my world are like the mafia you have to be ready to cut...
Thanks for sharing your experience. In business, it seems like anything is possible.
But for those who are just getting into the business, without any experience. Do you believe it's probable to get 0%?
I do agree that once you have your first one it's easier to throw your weight around and get better deals for future laundromats/equipment.
I love the Internet. This is what you call doing your research. You are the second person who says they got free/no down payment on machines and not to mention you have 16 years experience. Thanks for your comment.
You made a few mistakes, but you have GRIT!! Congratulations, you will be successful. Thanks for sharing
I used Danny. I visited probably over 30 laundromats, no joke. I found one with mid 90s machines and over 90% of them were out of service, bathroom destroyed and broken machines/equipment stacked out on the floor. No AC, not one person in the business anytime I went and it wasn’t 24 hours despite the condition of the place and being left unattended all day. Truly the worst of the worst. Far worse than anything I’ve ever seen him showcase.
Got a hold of owner and claims the dude is current on his lease which I don’t even see how it’s possible, no one uses the laundromat and the majority of the machines are down. It is literally impossible the operator would be turning a profit.
If a case such as this isn’t even bad enough to warrant change what is my luck of even finding something?
I've seen plenty of mats in the shape that you described.
There is a possibility that the landlord is also the operator. So he owns the real estate therefore doesn't pay rent.
Having old machines means he doesn't have to pay a monthly fee for them.
With all that being said, just keep at it. The person who flips over the most rocks wins. It may even take a year or more. Keep that landlords number and try again in a few months. No rush my friend.
@@justinvestclaudio I’m convinced the operator isn’t the landlord. I met the operator and actually had a small chat. He was in there one time i went, I’d usually just give people some bs reason as to why I was there. We got the landlords number from a newer business in the plaza. I’m actually surprised how freely people give it out sometimes. The mat has a 2.2 star on google and has all mid 90s wascomats, it’s one of the worst businesses I’ve ever seen of any kind.
Also talked to another place in a large plaza, again, no AC, nasty filthy bathroom, roaches on the machines. The attendant area was just a bunch of dirty plywood boards and handwritten notes everywhere. Broken machines, literally watched a woman carrying her laundry in and out of the place soaked in sweat and looked like she was going to die. Call again and once more, operator is up on rent…?
No joke dude i have been to over 30 laundromats maybe even closer to 50 (I stopped counting). I’ve explored every laundromat within 100 miles of my home I’m pretty sure lol.
Wow, listening to these stories now I see it is possible to get a free laundromat but scouting. The properties won’t be easy. I am ready for the challenge and I have started already.
I am watching back your video here for the second time what you said is very smart and I know that you are a smart guy that’s the issue with a lot of people who are smart. They think they have all the answers. That’s my experience in doing real estate investing I never passed the eighth grade, but I am more financially well off more than even my doctor friends that won’t listen to me how to stop working for money you are right, a students are the ones that will watch RUclips videos, purchase the course, higher, Danny to negotiate the lease and one of the most important thing he will always consult with you and give you direction and how to get there equipment for no money so you have to stop saying that it’s not possible that’s because you did not follow the process
There is no guarantee you'll get 0% down payment. No one can promise you that.
You should have money on hand and be prepared for the worse.
@@justinvestclaudio absolutely however if someone is broke and they have no choice I am the kind of person who believes in READY FIRE AIM, that’s how I became successful in real estate not having it all figured out sometime isn’t worth it, especially if you are tired and frustrated with your job and you are extremely broke. What else do you have to lose if you are truly broke just give back the lease, that’s an easy thing to do wouldn’t you agree?
I’ve been working with Danny for 6 months and am losing hope of signing a lease. Out of 150 laundromats not 1 landlord is interested. I see why most of Danny’s clients quit
As laundromats become more mainstream, they will become harder to acquire. Everyone seems to want one now.
Dang, really? Which area are you guys calling?
I have a VERY hard time believing you scouted 150 laundromats and got 150 phone numbers for landlords/leasing agents.. I work with Danny also.. that would mean you scouted 25 stores AND got 25 numbers every month for 6 months straight.. don’t come on here to be untruthful.. I know what it takes because I’m doing it as well. If you scouted 150 mats and got the proper numbers you would have many laundromats already
@@justinvestclaudio do you know how foolish you sound? as laundromats become more mainstream? Can you even explain what you mean by that?
@@nowe6639 exactly, that guy clearly just wants attention. I doubt he's even purchased the silly course
I watched this call and i have to say if you've watched any of his other video's you know he is looking for direct answers to direct questions and isn't necessarily interested in the "story".
He asked me the story of how I got my laundromat and who I was.
@@justinvestclaudio I know but he was looking for the synopsis not chapter by chapter. I know not everyone gets that bit when you've been in business a long time and time is money people tend to get to nuts and bolts.
@@cianhealy3165🫵🏾🧠
If you meet him he really short. Like boarder line little person. Never guess from his videos.
He looks about 5'6ish
Bro took me over an hour in to realize you sound like Aziz Ansari 😂
@@OfficerPaterFamilias I get that a lot 🤣
Where is your laundromat?
@justinvestclaudio did you ask the landlord for free rent until you open??
No, it ended up being 4 months of free rent.
@@justinvestclaudio damn you didn’t follow his advice smh
@@ACJ-x9x exactly
Honestly unless you have physical proof you made a mistake, I'm not seeing where you made a mistake.
I agree with you he didn’t make a mistake. All you have to do is get started and don’t give up. There is no failure. It’s only feedback. I love his story.
@@menardtexsampson3745 There's no failure? Really? I'm pretty sure the guy who loses all his money day trading and has to sleep under a bridge has failed. Not saying you can't try and take another swing at it but it's still a failure.
It seems like you have a lot of emotions in this business, Claudio. You need to stop caring about what the landlord says and feels. You need to talk to her straight up and straight to the point. It sucks, but you are in a pickle, and you need to try and leverage yourself so you can benefit from this somehow, some way. Meaning you need to talk to her and ask for 2 weeks back that she took for you and then you need to talk to her about paying your monthly rent! You are not even OPEN! You need to communicate with her and tell her that you are not open, you do not have cash flowing in, and that you need to work something out with her for that. Another thing you failed at doing, which hurt you BIG TIME, was finding out WHY she only gave you a 4-month rebatement..... that does not even sound reasonable, especially since you have no machines. Another thing that held you back and hurt you was not doing your due diligence all the way. You had no cash to your name, and in any business in the US, you need a hefty amount of cash. I feel bad that you fell for his market gimmick that the laundromat is free. God will bless you for providing this type of intel, all for free on RUclips. Ignore the haters on the comment section most of them don't even have the balls to talk to landlord or even go out and find a rundown laundromat. I commend you for everything you did and I truly wish you the best! If you have any way in getting contact with you, I would like to be able to email you or text you.
Incorrect, not all machines are built equally. I own 4 stores with 4 different brands. They all have benefits and faults
If they all have pros and cons, wouldn't that make them the same?
They wash and they dry. Where is the separation in brands at?
@@justinvestclaudio some are better at extracting water at the end of wash, some are better at up charging with “extras”, some are more efficient, more durable, part prices are higher or lower depending on brand, the agitation of drum washes clothes differently, there’s different tiers of machines with different G-Force. I can literally go on and on. Don’t tell people they’re all the same. I’ve been doing this for 14 years
@Vatchg All brands offer different levels of G force.
If you can show me a study that proves a Dexter washer of the same G force washes better than a Maytag. I'll admit I was wrong. Until studies are done then it's all hearsay.
This is like truck guys debating what brand is better... it's all the same garbage.
@@justinvestclaudio brother, there are machines with 100, 200, 400 and 450 G force. I can literally see it in my utility bills. The clothes come out way more dry, decreasing dry time. When there’s 20 customers in the store on a Sunday it makes a world of a difference getting people out faster. You can go on every manufacturers website and look at the build sheets and see as well. I also know a lot of people with laundromats and we talk often and compare bills by usage and income. It exists
The fact that you felt the need to say the utilities aren't free so it's not a "free laundromat" just shows you jumped into this way too quickly. I respect your service and work you do but you are lacking business acumen which is exactly why you should've utilized Danny's experience.
You should have hired him instead of going to all these mistakes.
@minhlu3518 What mistakes? The course should stand on its own.
The distributors don't have to give you 0 percent down, you know that right? If they say 20 or 30 and stick to it, what will you do about it?
@@justinvestclaudio Sounds like you took a less than optimal deal and didn't take advantage of an experienced consultant to prove a point or as a matter of principal - the problem is, the jokes on you in the end since you're the one stuck in a bad situation.
@chaiborg733 hmm no I wasn't trying to prove a point. I bought a course that should of been able to stand on its own. Do you not agree ?
So step one get the DVD
Step 2 get Danny's number
Step 3 use him to negotiate
But the DVD told me free laundromat, it didn't say "this is the first step of 3 to free laundromat ".
Anyways ... today the laundromat is profitable. Stay blessed homie.
I mean if this appeals to broke bf's like broke broke. you can't do it. 10,000 is a fucking lot.
I watched this entire video (twice) now. First in his RUclips. Your takeaway is "nothing ifs free"! bro, even danny says that about 100 times a week. He called you for free, he gave you his phone number for free. you have a laundromat for free. If someone just ffweds to the end of your video they wont hear how he talked to you about everything from getting you store opened to how to fix your flat tire. You admit you should have been more involved in his help. Using his email for free. the dude is a saint. do you have any ideo how valuable it is to have his number? You donlt think ahead. how about your grand opning? Your taxes, your employees. When it's time to renew your lease with this landlady? he's willing to be your merntor and you bite him for youtube clicks? wow.
The title wasn't click bait. Claudio gave much respect to Danny. Get off Danny's D
Bro literally talks himself down!!
Doesn’t pay attention & don’t even try to do much research!! He’s very discouraging
Your comment here is very unpointed and I figure that the response was going to be his response but it’s another person. The ego is big for him when I started listening to his videos. I got very concerned that what Danny was saying could be off but by me coming back to this video and watching at least four videos on his channel This morning and coming back to this one and watching it a second time I realize that there is no humility because why he didn’t answer to the comments like yours here great critique
Re: $1/sq ft
My understanding and based on Danny’s thinking. He will tell you the cheapest you can get.
Based on any given market and his videos, it can range from .80cents - $1.67
When asking land lords in my area they ranged from 1.10 to 2.25.
I felt like it was a win to get 1 dollar but as you can see in the video Danny says I could of done better. And he is likely very right.