Podcast 344: Financial Freedom Through Owning Laundromats with Jordan Berry

Jordan was a pastor for 15 years and transitioned out of full-time ministry into buying a laundromat. His experience buying his first laundromat was not a good one. Instead of replacing his salary, as he expected, his laundromat lost $2,000 dollars per month for well over a year. Desperate to find help to turn his business around, he frantically searched for someone to guide him to profitability. He found no rescue. After finally stopping the bleeding, he decided to share the hard- earned (and expensive) lessons he learned on a blog. And then on a YouTube channel. And then, on a quest to find out how the best laundromat owners operated their businesses, he started a podcast interviewing laundromat owners and other industry professionals. These platforms turned into Laundromat Resource, an education and community platform for laundromat owners and future laundromat owners to learn, share best practices, and connect with one another.

*DISCLAIMER – We are not giving any financial advice. Please DYOR*

(00:00 – 02:39) Opening Segment

– Jordan is introduced as the guest Hosts
– Jordan shares something interesting about himself

(02:39 – 32:56) Financial Freedom Through Owning Laundromats

– Why laundromats over other investments?
– How can laundromats make you wealthy?
– How to value a laundromat correctly?
– What mistakes to avoid?

(32:56 – 40:36) Fire Round

– Jordan shared if he would change his investment strategy
– Jordan also shares his favorite Finance, real estate book, or any related book
– Also Jordan shared about the website and tools that he can recommend
– Jordan’s advice to beginner investors
– Also shared how he gives back

(40:36 – 41:23) Closing Segment