January 9, 2021 at 11:40 am #3006
Hey, my name is Tim and I’m interested in owning my first laundromat.
I’m in the research stage of owning one right now.
Glad, I found this resource.
Can’t wait until you are doing business in Canada.
January 21, 2021 at 8:52 pm #3532
Ok, I found a laundromat in my neighbourhood that is up for sale.
I contacted the Real Estate Broker for some additional information and signed my first Non-Disclosure Act document.
I figure even if this doesn’t work out, it’s good practice to look over the information package and get my ducks in a row based on the advise from Jordan on valuation to get into the habit of what to look for and compare information in whether or not at face value it’s worth it to purchase. If on paper it looks ok, then the real due diligence starts.
Am I ready to purchase a laundromat ? Is anybody ever ready ?
The premise is the more I do this, the better I will become in doing my due diligence when valuating a laundromat that I am interested in purchasing.
January 25, 2021 at 3:45 pm #3555Jordan BerryKeymaster
Way to go Tim! And welcome! Keep it up and you’ll be ready when that right deal pops up! Lot’s of Canadians on here so be sure to connect with them!
January 25, 2021 at 8:58 pm #3583Sam levariParticipant
Congrats on getting your feet wet. Practice is always good and you will know when it is the right one for.
I got my first one about a year and a half ago. Probably saw 20 places and signed 10 NDA’s.
The more you see the more you will get the feel on what to look for.
Best of luck
January 27, 2021 at 10:00 am #3591
Yes, that’s the plan.
The more I do, the better I get.
I know when I see the right one, I’ll just have that right feeling. I am not disillusioned by the want as opposed to the right way of doing things.
Patience, Patience, Patience is the key.
Thanks for your support.
February 5, 2021 at 8:28 pm #3813Oscar UribeParticipant
Tim Cheung offers wise advice.
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