Faced with bankruptcy and a clean slate, Jeffrey Sanchez buckled down to make some major changes in his life. In this show, Jeff shares his dream of leveraging laundromats to propel his financial destiny forward.

In addition to Jeff’s compelling story of his financial journey, today’s show also meets head on with the illusive hunt for the free laundromat. Jeff explains his experience and wisdom with finding free laundromats and shares what he’s learned from his boots on the ground search.

Whether you’re looking to buy your first laundromat (or get one for free!), or you’re a veteran owner, Jeff’s journey into bankruptcy and his perspective on this side it are sure to inspire you and stimulate your business creativity!

Listen To The Podcast Here

Watch The Podcast Here

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    Episode Transcript

    hey hey what’s up guys it’s
    jordan with the laundromat resource
    podcast this is show number 19
    and i’m super pumped that you are here
    because today is another special
    episode uh we’re talking with jeff
    sanchez and he’s bringing a
    unique story to the podcast
    uh he’s bringing a lot of unique things
    to this podcast actually
    uh things that we’ve never had on this
    podcast and he’s sharing some raw
    uh personal information in this show
    personal financial information
    and he he talks about how he’s trying to
    use laundromats to claw his way
    out of uh just a dark financial
    situation that he found himself in
    and so jeff again props to you for
    sharing what you share on this on this
    show and
    uh man i’m super excited to see where
    this journey takes you i’m super pumped
    for you i’m super pumped for you guys
    listening to this
    who get to experience a little bit of it
    him and uh man at the very
    end after the interview i’m gonna share
    some of my final takeaways
    from this interview so make sure that
    you stay tuned all the way to the end
    for that um and you know if you’ve been
    listening to this show at all
    uh in the past you know that i’m all
    about taking action
    um so we’re going to talk about that a
    little bit for this uh for this show
    also at the end so make sure you stick
    around for that
    um real quick i just wanted to say a
    huge thank you to you guys
    uh we had our biggest podcast
    download uh week that we’ve ever had
    this past week
    uh so thank you guys for checking out
    the show hopefully you guys are finding
    a ton of valuable stuff in there
    for you personally and also for your
    uh because that’s what we are all about
    trying to provide resources
    to help you guys grow uh personally and
    help you grow your businesses
    and to find financial freedom through
    laundromat ownership
    that is our goal that’s what we’re
    trying to do here so hopefully it’s
    helping you out
    in those goals um so huge
    and an extra special thank you to those
    of you in atlanta georgia
    all the way on the other side of the
    country from
    where i am but for whatever reason the
    last few weeks
    atlanta georgia has been showing up big
    and downloading a lot of
    uh episodes and listening to a lot of
    them so what’s up out there in atlanta i
    can’t wait to come out
    that way again and uh hopefully i’ll get
    to see some of you guys and maybe check
    out some of your laundromats out there
    that’d be awesome i would love that
    so hit me up if you’re in atlanta come
    say what’s up come say hi
    uh in the forums or drop me an email or
    speaking of forums i want to remind you
    every week
    get in those forums ask a question
    answer a question because
    that is where growth will happen for you
    uh that’s where you’re gonna meet a lot
    of other laundromat owners
    uh help each other out get some help for
    yourself so get in there
    ask a question answer a question and
    extra kudos to ron morris out there who
    is uh man in there welcoming new people
    in the introductions forum and
    contributing to conversations and a
    bunch of different topics in there
    i just i wanted to just do an extra
    special uh
    shout out to ron who is uh man he’s
    really helping a lot of people out in
    there so way to go ron
    uh awesome to see you in the forums hope
    to see you some more and hope to see
    more of you guys
    in those forums um all right i
    am i’m just excited for this uh this
    talk with jeff
    i know you guys are excited too so let’s
    get into it right after
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    jeff how’s it going man thanks for
    coming on the show hey thank you for
    having me jordan i’m doing pretty well
    how about yourself
    i am doing awesome although here i’m in
    uh you know la here and it is yesterday
    was 111 degrees
    inside i mean we pay
    a lot of good money to not have to put
    up with that so i don’t know what’s
    going on
    but well here in northern new jersey
    today it’s cloudy and about
    68 degrees are you serious yeah
    oh yeah don’t don’t tell me that yeah is
    august right now oh my god i know right
    you wouldn’t think
    what’s going on isn’t it supposed to be
    sweltering there
    it has been last couple of weeks has
    been pretty bad yeah but
    we have a little bit of a reprieve today
    with the nice weather hey man enjoy it
    and you know what i i know why that is i
    don’t know if you find that why
    i know why it is it’s because it’s your
    birthday today
    happy birthday man
    someone is looking out for you and
    wanted to give you i know right
    you know just nice weather for your for
    your birthday so you can enjoy it thank
    you thank you
    yeah and double thanks for coming on on
    your birthday that’s a big deal oh no
    problem i just happened to have the
    the day off today i took the day off and
    i spent it scouting some stores
    awesome so always working man always
    yeah well let’s jump into that in a
    second but first before we do why don’t
    you tell us a little bit about who you
    are and you know kind of what where
    you’re coming from in life
    uh well i i uh i just turned 45 today
    uh i i work full-time
    uh i work for a money transmitter
    uh think of it as kind of like western
    union i work in the legal compliance
    i’ve been there about five years um i do
    like my job
    um but just like everybody else you know
    you’re just trying to keep your head
    above water
    and uh excuse me and uh you know
    no matter how hard you work for somebody
    or how good your job is you’re always
    gonna be making money
    for someone else yeah and and i’m
    looking to change that
    i’m just an average guy i’m nobody
    special um
    hard worker um i enjoy a lot of things
    i’m kind of a big geek
    you know i like a lot of sci-fi i like
    to read
    i like to play chess i like all those
    kinds of other kinds of games and
    hey we need to play chess sometime hey
    all right
    all right i
    i mean that’s pretty much it um
    as far as me i i don’t know what else to
    say about me
    i’m just your average kind of guy yeah
    well awesome did you grow up in new
    jersey i’ve lived in new jersey
    my whole life in a small little town
    called cliffside park
    which is about three miles from the
    george washington bridge
    oh okay yeah so poor area
    yeah yeah very populated a lot of
    laundromats in this area
    yeah yeah no kidding no kidding well
    that sounds like opportunity
    to me oh big time big time big time
    well tell tell us now i mean speaking of
    tell us i mean you’re unique in uh
    as far as guests have come on this show
    so far in that you don’t own a
    laundromat yet
    right but you’re looking uh yeah i
    i’m looking and i’ll give you a little
    background story as to how i came about
    considering getting into the laundry
    business yeah tell me
    so late last year you know things
    my finances were a mess and uh i
    i had no choice but to uh file for
    um you know like i said things happen
    um i i just let things slide
    and uh i had no choice but to do it but
    once everything was said and done you
    know i went to the meeting of the
    trustees and everything was you know
    expelled um i thought to myself what now
    you know keep working for someone else
    and then in five years fall again into
    the same trap
    i said no i can’t do that and the funny
    thing is
    that late last year um
    we had bought a wide brand new washer
    and dryer
    and one day the washer actually
    kind of died on us a new one
    yeah yeah yeah and i was furious oh man
    so upset over that
    and that that night i actually had a
    dream that i owned a laundromat
    and then i woke up in the morning and i
    said a laundromat
    i would have never thought in a million
    years to own a laundromat
    but it stuck with me and i started doing
    my research
    and just kept researching and
    researching and researching
    and uh everything that i came across
    said that you needed a tremendous amount
    of cash
    cash which i did not have
    so instead of just giving up and saying
    no i can’t
    i just don’t have the cash do it i’m not
    gonna bother i kept digging
    and i kept digging and i kept digging
    uh i came across this one guy on
    youtube who has a whole bunch of videos
    on there saying that
    uh you don’t really have to pay for
    these things
    and i was like what
    and he’s like yeah you don’t really have
    to pay for these things so i said okay
    i’m intrigued now so i kept watching
    this video
    started realizing that what he was
    saying was making complete and utter
    total sense um his name is danny
    and uh i continued to follow him
    and he was selling a dvd with all of his
    ideas and his whole process on how to
    obtain these laundromats
    um and i bit the bullet and i bought it
    and it’s chock full of information
    and i was completely sold on it
    so since then i have been trying to
    laundromat by essentially taking over
    the leases
    of failed or failing stores
    uh so that’s what i’m trying to do right
    now um like i said i live in northern
    new jersey there’s no shortage of
    laundromats here
    waterman’s everywhere many there’s so
    uh in my town alone there’s i believe
    you know and i’ve been to all of them um
    scouting the stores is really my
    dealing with people face to face is my
    um i love going into these places
    introducing myself
    handing these owners my business card
    um and and i was really shocked to see
    how open these owners are to talk to you
    and to answer your questions
    it really has been a phenomenal
    experience yeah maybe there are one or
    two that have kind of chased me out
    yeah yeah i was gonna say because that
    sounds like an anomaly to me every time
    i try to talk to an
    owner in their store they’re like what
    are you a laundromat owner get out of
    here yeah yeah
    yeah there’s been one or two cases where
    i’ve just kind of been
    chewed out nicely i have to say i wasn’t
    kicked out but um
    but yeah i mean they’re very open to
    answer your questions
    um you could pretty much ask them
    from you know how much do you pay for
    rent how much is your water bill each
    how much is your electric bill each
    month hey that’s awesome very open
    they’re very open to discussing this
    um but uh
    but yeah i’ve been uh i’ve been trying
    to obtain
    laundromat on my own
    um trying to negotiate a lease on my own
    and i realized that that’s my weakness
    i don’t i’m not really familiar with the
    leases i’m not familiar with dealing
    with these folks
    so uh when this covet 19
    pandemic happened i knew that it was the
    perfect opportunity
    and i i took whatever money i did have
    and i hired mr d’angelo to do that for
    and it has been quite an experience
    is he’s an interesting character
    and uh as far as commercial leases go
    and negotiating skills he’s an expert um
    i i couldn’t do that on my own like i
    had said my strength is going to these
    stores scouting them out
    talking to people face to face he’s the
    that’s why i hired him and uh you know
    it’s been a process
    we make our phone calls every week uh i
    feed him leads and he makes all those
    phone calls for me every week
    and uh it’s been an ongoing process and
    he says it himself it’s a marathon
    it’s not a sprint yeah you have to have
    tremendous amount of patience
    people think you know people hire him
    and they think it’s going to happen
    if you’re thinking about hiring danny
    d’angelo the first thing you need to do
    is get out of your mind that it’s going
    to happen overnight because it’s not
    going to happen overnight
    yeah you have to have tremendous
    patience to do this
    you have to do the legwork you have to
    get out there you have to you know put
    boots on the ground
    keep your eyes open for things i don’t
    want to go into detail too much about
    uh what to look for in a store and
    whatnot because there really is a lot
    um i mean that’s basically it that’s
    where i am on my journey
    right now yeah so how are you finding
    stores to go
    uh like get the boots on the ground are
    you just driving around and when you see
    a store you pop
    in or well the ones in my town the ones
    that are closest to me that’s what i do
    i’ll pop in
    yeah um but i’m also very familiar with
    locations around uh first thing i’ll do
    is i’ll go
    on to for instance yelp or google
    i’ll go on there i’ll look at pictures
    see if the pictures are old
    if they’re too old i’ll go over there
    uh i’ll go there myself and uh you know
    talk to the
    to the owner and whatnot i’ll also look
    at their reviews
    if they have poor reviews that sends up
    red flags
    so i will definitely check yelp and
    google first
    and uh driving around believe it or not
    there have been a couple of times where
    i was scouting one store and
    came across one that i had no idea
    didn’t find anything on yelp or google
    but i was like oh there it is
    i didn’t know that that was there let me
    check it out
    so i mean that’s the process that i use
    but rule of thumb is to check the ones
    out in your neighborhood first
    yeah yeah definitely i mean being closer
    to home obviously is
    has a huge huge advantage right right
    yeah to that absolutely
    so what’s it been like uh when you’re
    talking with these owners
    i mean you said most of them been
    receiving you well and
    right you a lot of information what are
    you trying to
    uh get with are you trying to are you
    trying to ascertain whether they’re
    you know getting out of the business or
    what’s your goal when you talk to these
    uh my goal is to um to get an idea
    as to what they pay as far as rent um
    an idea as far as what they’re paying
    each month for their utilities
    because that’s an enormous cost that is
    an enormous cost
    i came across one um not that far for me
    maybe 15
    20 minutes for me that i did try to
    which i really wanted badly because they
    use well water
    oh wow nice okay can you imagine not
    a water bill yeah
    uh um so you know you’ll find out little
    things like that like i would have never
    known that they were what they had well
    water if i didn’t speak to the owner
    yeah you know um
    but yeah you definitely want to get a
    feel if they’re going to stick around in
    the business or not
    yeah you want to get a feel as to
    whether they’re interested in purchasing
    new equipment or not
    because again those are red flags um
    customers want the new shiny equipment
    yeah that’s just how it is yep um
    and then you know you get a feel for it
    if you feel that they’re not
    looking to get out if you feel that they
    are going to be getting equipment you
    kind of just leave that alone
    you know you just kind of walk away and
    you just keep an eye out for it
    right you see things change uh do you
    see if like
    six months to a year from now they don’t
    have new equipment
    you may want to jump on that one a
    little bit yeah so you have to keep a
    close eye on it
    i mean that’s pretty much it i mean i
    haven’t had a problem
    uh with an owner not answering any of my
    some of them have an issue telling you
    what exactly they’re paying as far as
    totally understandable yeah yeah totally
    totally understandable
    but yeah i mean that’s what and and
    there’s also
    um one owner that i i
    spoke to in in the jersey city area we
    actually still keep in touch
    uh because i actually actually know a
    guy a maintenance guy who comes and
    fixes washers and stuff and even called
    me and said
    hey jeff you know do you still have that
    guy’s number and i’m like yeah man you
    know i
    gave him his number he called me back he
    said oh yeah you were right this guy’s
    great this guy happened to fix one of my
    washers once a long time ago
    and i kept his number and he’s always
    been very very receptive
    he cut us a nice deal on you know the
    parts and whatnot
    so i always remembered him and i told
    him i’m going to throw businesses away
    so you know that owner and i you still
    kind of keep in touch
    yeah that’s awesome to keep in touch
    yeah i think too like one of the very
    underutilized ways of
    finding a laundromat especially if
    you’re looking for one that’s run down
    is talking to mechanics
    who are going out i mean who sees more
    laundromats than mechanics other than
    maybe brokers
    right but you know the kind of
    laundromat that you’re looking for
    a broker is probably not going to be in
    the picture because
    you know they’re just not worth a lot
    of money to sell right right right yeah
    man so that’s cool so you have been out
    there hustling how many laundry mats do
    you think you’ve looked at so far
    oh man i couldn’t even put a finger on
    oh i would say uh maybe
    50. yeah you’ve been out there yeah yeah
    yeah you know i my full-time job
    um i work 10 30 a.m to 7 p.m
    okay so that gives me some time in the
    before i get to work to you know scope
    out a few
    and then of course on the weekends when
    i have my
    free time i’ll definitely do a lot of uh
    um my uh my fiance lives in uh
    the city of bayonne new jersey okay so
    i’ve done a lot of scouting there
    as well there’s quite a few laundry mats
    there as well
    uh there’s a few in jersey city which is
    close by also i’ve gone there
    and i’ve gone all over the place in
    north i’ve even gone as far as staten
    island new york
    because i got word on one that was there
    and uh
    i didn’t get it but that’s okay it’s
    still there
    and i’m that’s another one that i’m
    keeping my eye out for
    yeah yeah yeah and i think probably a
    lot of this process for you will be
    kind of keeping tabs on the ones that
    you know have potential
    for you uh and you know because they’re
    probably going to develop right away
    it’s going to take a little
    time to develop
    right yeah right just like i said it’s a
    marathon not a sprint
    it’s a marathon you’re right yeah
    yeah yeah so
    uh okay so you’re looking for kind of
    rundown laundromats
    that zombie mats yeah the zombie man
    yeah that’s how they’re kind of known in
    the industry so you’re looking for kind
    of a zombie mat
    right and you’re looking to you know
    either take over a lease
    or write a new lease if it’s already
    shut down have you found any that are
    shut down
    at all i have found um two
    actually that were already shut down all
    the infrastructure
    is in place um because jordan
    what what this whole system is uh the
    danny d’angelo system it’s all about
    existing infrastructure
    right that’s what we’re really looking
    for is just existing infrastructure
    yeah i have found too that the
    infrastructure was in place
    but the fact is is that they’re too
    small yeah
    they were just too small uh one was
    about 600 square feet
    oh okay yeah it’s way too small
    and the other one was about a thousand
    square feet yeah
    you just can’t make it work yeah
    yeah and i no it’s okay and uh
    yeah i think it’s not really more
    work to have a larger store than to have
    a smaller store
    and since you have the same amount of
    work man the amount of returns you can
    get from
    600 square feet is not it’s not high i
    it’s not there you know if you’re
    getting it for free and
    you know the time cost isn’t too much
    then hey maybe it’s still worth it but
    you know it’s still that’s that’s a
    tough tough one to make work i think at
    right and and both locations actually
    had a competitor which was
    maybe a block away yeah
    shut down it’s not worth it you know i i
    if that wasn’t there and if the space
    was bigger i would have jumped on it
    yeah but it’s just too many factors
    yeah well i know you haven’t gotten
    there yet but have you thought through
    it all
    you know so these these zombie mats uh
    you know they’re that are run down that
    business isn’t great
    you know they are like that for a reason
    and you know one of the reasons is
    sometimes owners just don’t want to
    reinvest in their business
    right um and they just kind of want to
    milk them milk them dry
    but you know if business is not at its
    full potential have you thought about
    other than maybe putting in new
    equipment how how would you get
    new business in there because that’s a
    big you know that’s a big
    obstacle for laundromat owners who are
    laundromats that you know need
    in order to increase customer base have
    you thought about that at all
    oh definitely definitely i think i think
    it’s really all about
    marketing um if you don’t market your
    you know people think um oh it’s a
    laundromat people are just gonna come
    people are just gonna line up around the
    corner on the grand opening
    it doesn’t happen that way yeah you have
    to you have to market that store and you
    have to market it properly
    yeah if you don’t you you’re gonna fall
    right into the same trap
    again you know it’s very important to
    also have promotions
    uh oh hey come on this day and bring
    this flyer
    with a coupon saying you know
    uh free drive with your with your watch
    you know and make the customer come in
    with that coupon yeah let’s
    show that they had it they got it they
    got it on their doorstep on their car
    uh marketed on facebook uh
    marketed on google uh you know it’s free
    to do these things
    yeah uh and a lot of people just don’t
    take advantage of it
    uh i’ve been to a lot of stores that i
    and i’m shocked that they have no
    internet presence whatsoever
    it’s really shocking like how did you
    not facebook page you got to get on that
    facebook page
    page for that so i really think getting
    customers in the door is really all
    about marketing
    yeah and like i said before customers
    want the bright shiny new machines
    got to have that in there totally yeah
    yeah i think it’s good and i think that
    a lot of
    uh a lot of laundromat owners are not
    great marketers and you can tell pretty
    which ones are and which ones are not
    right you know by how many people are in
    their stores
    and uh yeah so i mean i think that’s a
    big deal
    for sure absolutely it’s a big deal yeah
    you know like i said you know these
    folks they they think it’s a laundromat
    they could just sit back and and do
    nothing uh a big mistake that a lot of
    owners do that that let these businesses
    is that they think that it’s turnkey
    laundromats are about as
    turnkey as you can get but there really
    is no 100
    turnkey business if there is please call
    me let me know what that business is
    yeah exactly yeah i mean you have to get
    involved you have to be there
    um there are certain times that you have
    to be there you know
    i i think you had said it once on one of
    your episodes you know pipes are going
    to break
    floods are going to happen yes
    you know as well as anybody oh yeah
    fair share any owner yeah
    uh you know a lot of these owners they
    think that they can go on
    you know they can go to hawaii for two
    or three weeks and not worry about the
    it’s just not like that yeah you know
    that’s why a lot of these places they
    get run down
    you know they don’t have bother with the
    new equipment
    so yeah i mean it’s really on them
    yep yeah definitely how you manage it is
    a big
    big you know deal on how it you know how
    it’s going to perform and how it’s going
    to perform
    over time you know i always tell people
    i think i mentioned this on on here
    before but you know anytime you’re
    dealing with business
    you know you’re going to have problems
    and anytime you’re dealing with
    people anytime you’re dealing with the
    public you’re gonna have problems to
    deal with
    and you got both in a laundromat and
    like you said
    they’re about as turnkey as you can get
    in terms of a business
    but they do require management and they
    do require
    time and effort and energy so
    um i was gonna ask you i mean i think
    i think one of the benefits of the way
    that you have stuff set up with
    uh with danny is that you know you have
    these people skills you’re kind of
    gathering information you’re doing all
    that stuff
    but it’s really hard to do that and be
    the bad guy and you know the negotiator
    the hard news
    you know like you know and so
    kind of almost playing like a good cop
    bad cop you know and that’s where
    it’s really helpful for i think most
    people to have someone that they’re
    working with
    right to help and i think you know
    brokers can play that role
    or you know a consultant like a danny or
    somebody can play that role
    for you because it’s not a personal you
    know thing
    for them but with that said i wanted to
    ask you because one of the big
    uh i guess points of controversy with
    danny’s whole system is you know
    going behind you know current owners
    backs and
    you know trying to take that lease
    through the landlord
    um and so i was just going to ask you
    like what are your thoughts on that
    or how is that you know presented um
    any any thoughts or on that well i’ll be
    honest with you
    at first uh it did seem that way
    um it did seem
    uh what’s the word i’m looking for
    i no longer see it that way um
    if if sadly these guys these owners the
    um aren’t up keeping their spot their
    up keeping their business and they don’t
    they don’t keep uh they don’t pay the
    rent on time
    you know legally the landlord can seek
    someone else
    to take over that lease if they’re more
    than 10 days late on their rent
    they can and will look for someone else
    you know i i can’t i can’t really help
    the fact that they’re not paying their
    rent um the landlord
    is there to make money as well yeah
    absolutely yeah
    i mean do i feel bad for these these
    yes of course you know i’m a human being
    i i
    but i also have the opportunity to take
    this over
    and make money for that landlord by
    updating the equipment
    updating the space and create that
    business environment that
    they’re so looking for what you want to
    do is you want to create that
    anchor tenant that most landlords crave
    and sadly i don’t want to sound harsh
    but if these guys aren’t getting it done
    the landlord’s going to look somewhere
    else yeah and and i hate to sound harsh
    but um you know it’s just like like i
    said if if
    they’re not doing it the landlord can
    look for someone else that will yeah
    yeah and i think that’s kind of the
    push-pull of his
    system yeah is you know there’s
    there’s kind of the both end argument i
    mean it’s you know capitalism right
    there you know with
    right absolutely the landlord who’s
    running their business
    right their investment and who you know
    wants to be
    making their money uh and
    you know it is kind of the push-pull of
    his system and i think it’s a
    fine line that yes you know
    that he’s straddling but you can i think
    you can do it well
    um so talk to me uh about
    this this plan that you have here so
    you’re trying to find
    a zombie mat that you can
    take over uh what’s the plan let’s say
    you get keys dropped in your hand
    or you know with a little run-up time to
    be able to prepare
    what’s what’s the plan after you get
    oh man well um
    my plan is my plan is to actually keep
    my full-time job um one laundromat’s not
    going to make us rich
    it’s going to make us comfortable but
    it’s not going to make us rich
    um but yeah i mean if i had the keys in
    my hand today the first thing i would do
    is call every single distributor
    in this area and say who’s gonna get me
    yeah you know and um
    and yeah i mean that’s my thing and then
    i’m not i don’t my intention is to not
    stop at one
    um i’d really like to get three
    um so once i get one the plan is to not
    stop at one to keep going
    keep it rolling keep it rolling man yeah
    keep it rolling there’s a lot of
    locations that i’ve scouted and that
    danny and i have called on
    that could potentially be optimum
    second third for its stores so we
    definitely don’t want to drop
    that so i guess to answer your question
    uh if i had keys dropped in today to
    work get that one up and running
    and then move on to number two yeah and
    then number two
    happens get that up and running and on
    to number three
    keep it rolling keep it rolling good
    so your plan is get on the phone with
    distributors i love that
    and i like that you said get on the
    phone with all the distributors in your
    every single one of them in this area is
    going to get a phone call from me
    yeah because those suckers will jack the
    price up on you no offense to any
    distributors listening
    but yeah and then the key with the
    distributors is oh so you’re gonna
    you’re going to uh give me these
    machines for
    how much okay well this guy’s gonna give
    it to me for this much
    yeah let’s do it
    yeah i’ve i’ve talked about this on the
    podcast before
    i think but i i did that accidentally
    my first time around and ended up saving
    40 grand
    i was a i was a week from having
    machines installed
    and was about to sign the papers and
    they changed the terms
    and i just went to a couple other
    distributors and handed them the paper
    i’m like i don’t know here’s the quote i
    and ended up the end of that passing it
    you know 40 grand lighter on the on the
    bill so
    definitely call multiple distributors
    oh no question about it no ques and
    and you know danny danny uh ingrains
    that into the heads of his students
    yeah every single distributor in your
    area call them
    even call manufacturers directly call
    dexter directly call speed queen
    yeah call them all directly get quotes
    from every single one of them
    yeah yeah i agree um okay so
    so i’m assuming i mean here’s here’s
    what happens right you put in brand new
    and you look around and you’re like well
    shoot now that i have these shiny new
    my floor looks a little dingy and the
    walls look a little
    you know skiffy and you know the
    signage looks a little dated so you know
    obviously you’re gonna have to redo some
    of that are are you
    thinking i mean just personally i’m just
    curious are you thinking maybe you’d do
    some of that work or are you gonna hire
    somebody to do it or have you thought
    about that yet
    um well the the thing is is that i’m
    open to doing
    some of that work but um one of the very
    important things
    is to put some of those things in your
    lease and have the landlord do it
    yeah yeah you know like i said it is his
    anchor tenant
    you want to aim to be his anchor he or
    she’s anchor tenant
    um it’s really in their best interest to
    help you
    fill some things up in that store like a
    or floor so you definitely want to put
    that into your lease
    you want to uh you want to as they say
    include a lot of ti money in that lease
    tenant improvements yeah you definitely
    want that in there but certain things
    more than happy to fix up um if it needs
    a paint job
    i’m more than happy to do that that’s
    easy i can do that
    oh man i hate painting why don’t you
    come over here i just
    moved uh this week so i need some
    painting done so come on there you go
    uh you know if it’s certain things like
    if it needs new ceiling tiles
    i can do that that’s not a problem big
    stuff i want the landlord to do it
    yeah yeah and it’s in their best
    interest to do it
    i like that i mean i i like you know
    trying to get
    that help wherever you can get it
    because every
    every buck you save is a bucket in your
    pocket you know
    right right right and you kind of you
    kind of um
    you kind of have an advantage over them
    the landlords uh in this aspect because
    you know you can always throw it at them
    that okay
    you can you can just vanilla the space
    and turn it into a dentist’s office if
    you want to spend
    a hundred thousand dollars to rip out
    all that infrastructure
    yeah or you can give me a little bit of
    money and you can help improve the
    air conditioning units uh you can help
    improve the floor
    you have a nice anchor tenant for the
    next 10 15
    20 years it’s really in their best
    interest to help you
    yeah i mean it sounds like you’re ready
    for the negotiations man
    get in there man he’s the negotiator
    that’s his
    expertise man but yeah i mean i
    to answer your question yeah i’m ready
    i’ve been ready
    uh but i’m patient i’m not going to jump
    into just one
    that’s not the good situation and he
    wouldn’t let me do that
    he won’t let me do that um it has to be
    the right situation it has to be the
    right lease terms
    otherwise i can’t do anything with it
    how long have you been yeah how long
    have you been looking so far
    how long has it been well let’s see um
    maybe with danny with his system with
    danny’s sister
    i’ve been looking since about january
    and i hired him in april okay
    so i had to go at it on my own for a
    little while
    um until i was dealing with a landlord
    and he was incessantly yelling at me
    over the phone
    and i said uh yeah if he really acted
    like a child
    and uh i said you know what i i can’t do
    it because i
    i lost it too and and i yelled back and
    not like me yeah um and i said i need
    and i think a week later i hired him
    yeah it is nice to have that buffer and
    you know oh yeah
    getting you know if it’s not your
    deal then you you don’t get as emotional
    you know when somebody starts yelling at
    you you just hang up your phone and call
    them back later
    you know like why don’t you cool down
    and then we can talk business when
    you’re right ready to be an adult
    you know yeah yeah yeah yeah
    so any danny actually ended up
    uh maybe last month calling him again
    and it was pretty much the same
    situation and then you know we just
    me and danny just kind of laughed it off
    in a way that’s a good thing because you
    don’t want to be stuck in a 30-year
    lease with a landlord that’s going to be
    yelling at you all back
    here so you know if that’s how he’s
    dealing with you on the phone
    right now it’s gonna be it’s just how he
    does things
    and it’s just how he is right that’s
    exactly man
    i don’t know i don’t be dealing with
    that for 30 years
    i i wouldn’t deal with that for 30 years
    one way or another
    so right right yeah
    well good okay so you have you’ve been
    looking since april
    it sounds like you have a plan in place
    you know for when
    when that opportunity pops and it does
    pop i mean this
    this is a you know this is not a a
    secret technique in the industry plenty
    of people know about it
    and oh yeah i’ve done it and have done
    well with it
    um so you know it’s definitely uh
    definitely a viable way as long as you
    go about it the right way
    absolutely um yeah so i had a curiosity
    i mean you mentioned you wanted
    three laundromats is there a reason
    behind the
    the three um
    well let me let me ask you what i mean
    because we’ve had you know luke
    williford has been on this
    uh this podcast i’ll link to his show
    because it’s a killer show
    he’s got like 37 i don’t know this was
    like a few
    this is like a month or two ago so he
    might have like 40 by now i don’t know
    he’s just yeah yeah i’m just curious as
    to why he
    chose why you chose three carolina king
    of the uh of laundromat there
    um three’s a nice round number i think i
    i can
    i can deal with three okay um i don’t
    know about more than that if more
    happens that’s fine but
    uh three is the number that’s stuck in
    my head right now yeah
    three is manageable um i think of one of
    your recent episodes which i thought was
    a great episode you spoke about
    um things to learn and things to do to
    make money
    while you’re running your laundromats
    like i think you would mention bitcoin
    when you talk like that um well i have
    an interest in in forex
    uh foreign currency exchange um you know
    i run a
    uh they call it a dummy account it’s
    actually fake money
    and uh i’ve been doing it for a little
    while and i’ve made you know fake money
    but i can see myself you know putting
    aside a little bit of that
    laundromat money and actually making
    some serious moves with that
    uh i’ve also uh kind of just now looking
    real estate wholesaling that i find
    um so that’s one of the things that i
    want to do like in my spare time i think
    more than three laundromats might
    cut into that yeah um i don’t know but
    i mean i may get to three and say no i
    need another one i may get the four
    now i need another one it might be like
    a tattoo or you get one and then you
    just can’t stop getting them
    exactly exactly yeah but i mean and i
    think it’s great to have
    you know a goal i mean if it’s one thing
    i’ve learned in life
    uh it’s that you know you just
    never know where life is going to take
    you right yeah you know
    you set your goals and you work towards
    them and then when you get up
    you may be in a situation where you’re
    like well shoot man i want to
    be forex trading full-time or you know i
    you you might you know buy a grocery
    store like who knows man it could be you
    could be doing anything so
    yeah i think it’s good to you know have
    a goal of three because they get you
    past the one
    obviously you want to have the one but
    you know you
    want you want more than that you want
    your vision is bigger than that
    and my guess is that once you you know
    start seeing realizing
    you know some of these goals your vision
    is just going to continue
    to grow you know when you’re talking i
    think before we started recording you
    were saying hey i’m you know i’m just
    and i want to grow and i want to learn
    and i think
    coming into it with that mindset it once
    you get to
    three i’m not saying you’re gonna get
    more than that but i think your vision
    is gonna expand um right whether that be
    in the laundromat
    arena or you know some other arena
    because that’s just kind of how it works
    i think yeah yeah
    i agree i agree pretty crazy on my head
    yeah read the number in my head we’ll
    we’ll see what happens after three
    yeah well i mean and i love i love like
    i have so many different interests and
    you know i love the you know that you’re
    interested in
    you know for i you know forex and i i
    just love that you you have all these
    different interests
    and want to you know use laundromats to
    help you
    you know do some of this other stuff
    that you’re interested in
    you know wholesaling and doing forex and
    you know um that’s that’s one of the
    reasons i really love laundromats is
    because it
    gives you you know freedom to be able to
    try some of this stuff and do some of
    this stuff yeah
    yeah absolutely absolutely and
    also i forgot to mention that also like
    start my own podcast as well which is
    going to have
    nothing to do with laundromats by the
    so i’m not going to compete against you
    you know what i would welcome it you
    know my whole
    i’m not trying to compete with anybody
    right now my whole thing is
    i just want more information about
    laundromats and laundromat ownership out
    there and that’s why i love what
    you know dave mins is doing with his
    laundromat millionaire go check him out
    on youtube if you haven’t yet laundromat
    and he was a show two on the podcast
    and you know i just all this i i love
    just getting more of that information
    out there helping people find that
    through laundromat ownership to be able
    to you know
    if you want to quit your job down the
    line or whatever
    your goals are you know a lot of bats
    can help you
    help you get there and yeah absolutely
    and be a jumping off spot so
    what do you have any ideas what you want
    your podcast to be about
    um well it may sound like a little
    strange but like i had mentioned that i
    like science fiction
    and horror movies and i’d like to do
    like some type of sci-fi horror
    paranormal ghost kind of podcast
    even though there’s so many of them out
    there it doesn’t matter
    let’s do one that’s so cool yeah i gotta
    i have a very serious question to ask
    you right now sure
    why haven’t you started it yet ah
    no time in no time especially now
    yeah you know i work full-time
    and then when i’m not working full-time
    i’m working to get a laundromat
    i just don’t seem to have a time any
    and and i don’t really have a quiet
    space to do a podcast from right now
    yeah i don’t know here i’ve been hearing
    my kids yelling out the door
    i hope you can’t hear it but sorry if
    you can oh no i can’t hear them
    yeah quiet space is definitely a
    challenge yeah
    yeah definitely i would like a quiet
    well i i’m just you know i’m i’m all for
    that i think
    you know you’ll definitely have to let
    me know when that comes out and i’ll
    i’ll definitely check it out and i’ll
    i’ll mention it for you to
    pump you up for all the other laundromat
    sci-fi horror fans out there
    uh listening to both but that would be
    very cool and and i would say too
    you know don’t wait too long to do it
    yeah obviously
    you’re working towards a specific goal
    and i think it’s great you know stay
    focused but
    you know when when you when that time
    does kind of come through
    you know get on it and do it because
    it’s a lot of fun man i i’ve been loving
    this podcast and
    you know just you know getting to talk
    to people like you but also just hearing
    from you know from other people their
    kind of input
    and it’s it’s pretty cool it’s pretty
    i’ve been told many times that i have a
    great voice for
    like radio podcasts i don’t know but
    i’ve been told
    yeah you do and i’ve never been told
    about my voice
    you can do it anyways actually yeah
    yeah well very cool i mean i love i love
    all these goals i love
    you know your goal to get three
    laundromats and
    take a little bit of your income from
    that and
    you know do some speculative investing
    in forex
    yeah doing some doing some wholesaling
    on the side
    starting a sci-fi horror podcast i mean
    all this stuff is
    awesome i think it’s really cool uh you
    directions to go and i love that you
    want to use
    uh laundromats to help you get there and
    i love that you’re also putting your
    money where your mouth
    is um you know through hiring
    danny and you know just getting out
    there and checking out
    50 plus laundromats and yeah and doing
    the lego work man it sounds like
    you know i you know i don’t wanna
    obviously i’m not like promising
    anything but it to me it sounds like
    you know it’s inevitable you’re gonna
    get it and it’s gonna go well because
    you’re just doing the right
    things and i think a lot of life is
    about just doing
    the right things consistently over time
    and right now and danny has told me many
    like you’re gonna get a store you’re
    gonna get a story
    it’s a matter of time uh you always tell
    me just keep doing what you’re doing
    um and you’re gonna get one
    you’re gonna get one and i know i am i
    know i am it’s just a matter of time
    yeah and um you know there have been
    moments where uh
    there was ones that i thought i was
    gonna get you know they were they seemed
    to be prime
    to be taken over and it just didn’t go
    yeah and uh you know i try not to feel
    um you know maybe feel a little
    discouraged for a day
    but then i’m right back at it that’s
    that’s what you have to do you know
    danny always tells me you have the right
    always have the right attitude and uh
    we have a really great working
    relationship he and i
    uh we get along so well um
    we have discussions on the phone that
    don’t even have anything to do with
    but we’re always having discussions on
    the phone he makes me laugh i make him
    we have a great relationship
    so you know i like working with him he
    likes working with me
    and uh you know i know that he’s he’s
    going to bring me over the finish line
    uh but it’s not just him it’s a lot of
    it is me as well yep
    you know and he acknowledges that as
    well yeah uh
    you know it’s like i think of it as a
    car um
    yes i have danny at my side but he can’t
    replace me as the driver of that car
    right you know um but yeah i
    i i think it’s the best thing that i
    ever did was was hiring
    uh i know it’s gonna happen
    one day it’s gonna happen it’s gonna
    happen it’s gonna happen
    well yeah and two you know just quick on
    is i think it’s super important when you
    you know trying to figure out who you
    want to work with that it’s somebody
    that you can
    get along with that you can you know
    just kind of connect with but who also
    knows their stuff you know it’s got to
    be a both
    and you know type of situation in order
    you know just have that optimal you know
    result that you’re looking for so good i
    i love hearing that you guys
    you know have a good working
    relationship and i love hearing that
    you’re doing all the leg work because
    man recipe for success absolutely
    exciting when he
    when he makes one of those videos about
    you you’ll have to send the link over to
    me and i’ll link it
    well hey we have a section on the
    called pro tips pro tips
    and pro tips is uh basically you know
    you’re looking for your first laundromat
    do you have any advice for anyone else
    who’s looking to buy their
    first laundromat that might help them
    get you know
    make make the progress and get that
    first laundromat
    um yeah i would say um
    you know it’s going back to you know
    doing the legwork do the legwork
    um get into these places uh speak to
    ask the questions go in there with no
    uh go in there like like almost like you
    all in the place
    yeah but don’t be you know overly
    arrogant because that’s when you get
    thrown out
    yeah but definitely do the leg work
    um do the research and uh
    yeah i mean just just learn things just
    always learn
    you know go on to uh dexter’s website
    go on to speed queen wasco matt’s uh
    learn how their machines work uh
    it’s very important there is one thing
    that um
    that danny says that i don’t necessarily
    agree with him
    he says that all machines seem to be the
    i don’t agree with that um there are
    advantages to one machine over another
    whether it be
    you know energy efficiency uh water use
    or whatnot
    but there are differences do your
    research it’s so important to just do
    your research spend a lot of time
    and i can’t stress this enough when you
    open one do
    your marketing do your marketing that is
    the biggest piece of advice i can give
    uh once you open one up just don’t let
    that fall to the wayside
    yeah okay i mean that’s the best advice
    i can give to somebody just do your
    uh speak to people don’t be afraid the
    first time i went into a laundromat to
    scout it i was terrified
    i don’t know why i walked out of there
    and i said why was i so
    nervous but yeah
    i mean just don’t approach it with no
    the whole process whether you’re
    actually going to shell out money
    to buy a location just approach it with
    no fear
    yeah i love that because i found that
    when you
    get out there when you put yourself out
    there when you start talking to people
    that’s when opportunities happen you
    know i think
    so many times i know i’ve done this a
    ton in the past and i hear this
    all the time where people just sit and
    wait for something to happen
    and they wait for an opportunity to come
    their way yeah
    big mistake could happen but
    it’s way way more likely to happen when
    you put yourself out there you know i’ve
    seen this
    just from starting this podcast just
    some of the opportunities that have come
    my way just because i decided
    you know what i’m just gonna put myself
    out there
    and start a podcast and start talking to
    people and start interviewing people
    and you know the same things happen to
    me i’ve walked into laundromats talked
    to owners
    and you know and opportunities have come
    opportunities to buy laundromats
    opportunities to get laundromats for
    just all kinds of crazy opportunities by
    getting out there
    talking to other laundromat owners i
    would even say
    hey you know go go to some you know real
    estate investing meetups you know when
    you can go to meetups again
    and get together with people and talk to
    real estate investors because those are
    the landlords of the company
    you know of the of the spots where you
    can get laundromats and who knows what
    opportunities come
    through talking to these real estate
    investors who have commercial units
    that might have a space that’s perfect
    for a laundromat
    they might know somebody or you know
    just opportunities happen when you get
    out there
    you start letting people know what it is
    you’re looking for
    and um and just you know networking and
    building relationships and talking so
    i love that advice i think it’s probably
    the biggest
    piece of advice that you can give to
    somebody new who’s looking to buy their
    first laundromat
    is get out there do the legwork let
    people know what you’re looking for
    and exactly what opportunities come your
    is that best piece of advice i can offer
    you no question
    like for instance where i live we’re
    very populated
    and uh i actually have to rent a parking
    across the street and build yeah it’s so
    and and the owner there um he and i get
    along very
    well and you know he owns a lot of
    property and uh i asked him do you own
    commercial property he said no i don’t
    but i know people who do
    he told him exactly what i was looking
    for handed him my business card i said
    if anything comes up
    call me he hasn’t called me but but you
    know that information is already out
    yeah you know so it’s important just
    just get out there
    yeah and you talked about earlier how
    you know it’s a numbers game
    well the more people you’re talking to
    the more things like that you’re doing
    the more numbers that are getting out
    there it’s compounding
    you know on itself that way so you know
    i mean you’re just you’re doing the
    right stuff you’re giving the good
    good advice to other new you know
    would-be laundromat owners who are
    trying to get their first one
    and yeah solid solid advice
    well jeff i mean it’s been awesome
    having you
    on i really appreciate i mean it’s you
    know it could be a little intimidating
    coming on a podcast in general
    you know but coming on a podcast while
    you’re still in the process of looking
    for your first laundromat that’s
    you know that could be scary so i
    appreciate you coming on and just
    sharing about your journey so far
    uh i appreciate you having me on here
    man you know i’m i’m no one special i
    don’t own
    ten laundromats but you still had me on
    i really appreciate it yeah not yet
    yeah i really appreciate you being on
    here it’s been a blast being on here
    yeah and likewise and i love you know
    talking with you and getting to know you
    a little bit and you know hopefully
    we’ll stay
    in contact too um but you know i i just
    think that
    no matter kind of where you’re at on
    this journey you have something to offer
    you know to to the rest of the
    community and you know even though you
    don’t own one yet like your your pro
    tips advice is just it’s solid advice
    it’s really great advice for other
    people who are trying to get in the
    industry and you have
    you know sharing your process that
    you’re going through is a big
    uh it’s a big deal so yeah um yeah
    so thank you again for coming on let me
    ask you this before i
    let you go uh if if anybody wants to
    reach out to you and connect with you
    and maybe you know talk about you know
    your journey a little bit more
    uh is there a good way for them to get
    in contact with you
    absolutely um they can always email me
    at bluewhalewash
    i actually uh already have an llc
    it’s called whale wash and dry yeah i’ll
    tell you a little story about that as
    i kind of uh named it blue whale
    because um one of my favorite stories
    in the bible is the book of jonah uh
    so i named it you know blue whale
    because of that
    because it’s a constant reminder that
    that you can’t escape your destiny
    yeah so i decided to name it blue whale
    wash and drop
    yeah yeah you know what and it’s kind of
    interesting that you put it that way
    because i see
    kind of some of the parallels actually
    of like
    you know i mean you were you were
    essentially in the belly of the of the
    whale of the fish right it’s like
    you know you you had to file bankruptcy
    it that’s pretty much like
    yeah you know that’s not rock bottom
    that’s like you’re in a whale
    under the surface you know it’s like
    that’s a hard hard place to be
    and thank you for sharing that by the
    way that’s a oh no problem
    it’s a tough thing to share but you know
    i you know i have to be honest with you
    it really wasn’t that big of a deal yeah
    a lot of people think
    oh bankruptcy it’s terrible it’s tough
    it’s really not that bad
    yeah it’s really not that bad you know i
    just needed a fresh start
    yep um and i think um i don’t know the
    powers that b
    have given me a fresh start in more ways
    than one
    yeah yeah that’s awesome yeah it’s like
    the whale coughing you up on shore right
    yeah okay you got a fresh start here you
    yeah what are you gonna do with it and
    and it sounds like you’re you’re taking
    steps to to do the right stuff with it
    and to really change around you know
    fortunes and stuff so absolutely um you
    know i didn’t ask you this
    and but i would i would i’m gonna ask
    you may not have anything but uh do you
    have any
    uh resources that you would recommend to
    to anyone else looking to get in the
    a book or any other kind of resource um
    no other than your podcast no not really
    but i would definitely recommend your
    podcast thank you and your website and
    your forums
    it’s very helpful um no even though i
    haven’t done it yet
    um i do recommend once an owner gets on
    their feet to join
    the coin laundry association
    i have a friend who’s also one of
    danny’s students as well
    uh she lives in new york city who i’ve
    and we keep in touch we kind of like to
    bounce ideas off of each other
    and uh uh she recommends the cla
    uh she says they have a lot of great
    webinars uh that you can learn a lot of
    um so i think that’s a huge resource for
    anybody out there
    awesome yeah and i’ll put a link to that
    in the show notes too for anybody who
    wants to go check the cla
    out um jeff again awesome
    awesome to have you on really appreciate
    and after you get that first one we’re
    gonna have you back on uh all right
    about how the whole experience went and
    what it’s like owning one now
    and to talk about what you’re doing to
    get your second one rolling no doubt
    no doubt i’ll be happy to come back on
    awesome awesome all right man well we
    will talk to you
    again soon thanks again for coming on
    what a cool story man i mean it takes
    guts to get on a podcast and share
    some of these financial you know going
    through a bankruptcy is tough enough but
    to do it
    in public and to you know kind of put
    yourself out there too
    while you’re in process of trying to
    recover from this bankruptcy
    by trying to get a laundromat double
    super props to jeff for uh
    man just letting us in on the journey
    that’s what this is all about
    and i love that we can have people
    you know who own tons of laundromats on
    this podcast and i
    love that we can have people who don’t
    yet even own a laundromat
    and uh and we can learn from both of
    these people
    and everyone in between so man thank you
    for everyone who’s come on the podcast
    if you’re interested in coming on the
    podcast sharing
    your story it doesn’t matter uh where
    you’re at in your journey if you only
    own one
    if you own multiple if you’re in process
    you know
    we have something to learn from from
    each other so
    check out laundromat podcast guest
    all the links including that one will be
    in the show notes in the descriptions
    which you can find at laundromat
    dot com slash show 19
    learnermatresource.com show19 so check
    that out there
    and i also just wanted to say a special
    welcome to a couple people who introduce
    in the new member introductions forum
    this uh this week um and just i wanted
    to shout a couple of them out
    so cedric heinz welcome and andre debs
    welcome super excited to have you guys
    on board
    if you uh have recently joined the free
    at laundromat resource dot com um man go
    to those
    new member introductions introduce
    yourself if you’re lucky
    ronald jump over there and welcome you
    too because he is the man lately
    uh and hopefully some other people will
    welcome you too go get to know each
    and if you uh if you’ve already done
    that man get over there and go
    just say welcome a huge welcome to some
    of the other new members that have
    introduced themselves over there
    i mean that’s just an awesome
    opportunity to get to know each other
    and and to grow together so
    that is uh man today’s show i wanted to
    as always try to leave with a takeaway
    for us
    and maybe an action step and one of the
    things that really struck me about
    jeff is that he found himself in
    difficult situation
    and he has not given up
    he is taking what he has
    and he’s trying to make the most of it
    and he’s working hard and he’s hustling
    and i i want to encourage myself and
    maybe some of you guys
    find one thing in this show that you can
    take away to help yourself grow to help
    your business grow
    and to help you move you towards
    financial freedom
    uh through laundromat ownership if
    that’s something that you
    are excited about doing for me
    the the big takeaway that i got from
    jeff and
    just really inspiring for me was you
    know just his attitude of
    man okay i hit some hard times and now
    i’m gonna hit the ground running
    and just try to recover as best as i can
    and he’s doing whatever he can to
    recover and to try to bounce back from
    that bankruptcy
    uh through laundromat ownership so
    i’m taking that away you know when i hit
    those difficult patches
    you know a lot of us are in those
    difficult patches right now with
    everything that’s going on in the world
    man take take some uh inspiration from
    and uh you know keep keep plugging
    forward keep don’t ever give up
    so that is show number
    19. i’m again thank you guys for being
    and i can’t wait to see you again we
    have some awesome awesome interviews
    lined up
    in the next uh couple of shows you’re
    love them i i promise you’re gonna love
    what’s coming up too
    so make sure you have subscribed if you
    haven’t subscribed
    and go leave us a rating review that
    helps us to get better
    and helps other people to find us all
    right guys you
    are awesome get out there and go find
    financial freedom through laundromat
    this week we’ll see you next week peace

    1 Comment

    Magomed Aliiev · September 26, 2020 at 12:38 pm

    Very informative podcast. I like it a lot.
    Thank you for sharing your experience.

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