Buying a Laundromat: Challenges, Strategies, and Passivity With Jason Foster

Jordan Berry [00:00:00]:
Hey. What’s up, guys? It’s Jordan with the Loan and Better Resource Podcast. This is show one eighty two, and I am pumped that you’re here today. Today, we have back on the show, Jason Foster, who has one of the most popular episodes of the podcast. We talk about how to succeed with a mom and pop laundromat. And if you haven’t listened to it, I believe it’s episode we talk about it in the intro. I forget now on top of my head. But it ends with a two.

Jordan Berry [00:00:26]:
I know that because this one also ends with a two, one eighty two, which by the way, for this episode and any episode, you can access the show notes page with more information about the guest, links to anything we discuss, and a whole lot more, at lawnmowerresource.com/show182 for this episode or whatever episode you’re listening to. Just lawnmowerresource.com/show then the number of the episode. So it’s a little, fast lane tip for you right there on how to get more information, including contact information for most of the guests. Lawnmowerresource.com/show, and then the episode number. This one’s +1 82. Go check it out over there today. Listen. Jason and I are really getting into it and philosophizing today.

Jordan Berry [00:01:10]:
And one of the hot topics that we talk about is our laundromats passive income. So that’s something we’re getting into. We’d love to hear you weighing in on how you think about laundromats and your philosophy of laundromats and business. Shoot me an email at [email protected] or go comment on the forums, your take on the discussions around today’s, episode. Lots of hot topics to discuss. Alright. Before we jump into with Jason, here’s a quick word from our sponsors, which you’re not going to wanna miss because there’s something in it for you. And then we’ll jump right on into it with Jason on the back end.

Jordan Berry [00:01:45]:
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Jordan Berry [00:02:36]:
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Jordan Berry [00:03:06]:
That’s what we’re all about. Alright, Jason. Welcome back on the show. You are. Listen, you’re an alumni here. Two time alumni plus a Q and A alumni. You know, episode you were just telling me ninety two and one hundred and two. And then there’s a Q and A on the YouTube archives over there.

Jordan Berry [00:03:25]:
All super duper popular, episodes. And we’re back to philosophize a little bit today. I’m super excited about that. How are you doing, man?

Jason Foster [00:03:34]:
I’m doing great. Thanks for having me back. And I I do feel like an alumna almost a little bit of a veteran of laundromat resource. So

Jordan Berry [00:03:41]:
this is great. Yeah. Veteran is a better word than alumni because you have not graduated from our community here because here you are.

Jason Foster [00:03:49]:
I don’t even know what I have to do to graduate.

Jordan Berry [00:03:52]:
Yeah. You got to get sick of me, really.

Jason Foster [00:03:54]:
You know what I have to do?

Jordan Berry [00:03:55]:
You’re probably on the verge of. Yeah, I don’t. I don’t. I don’t. No. But hey, man, I’m super excited to jump on here. We’ve already kind of chatted. We chatted for like a long.

Jordan Berry [00:04:07]:
We should just hit record and we started chatting there. But, I’m I’m super excited to get into this with you today. But real quick for anybody who hasn’t listened to your episodes. First of all, go back. Laundromatresource.com/show92show102 and check those ones out. They’re awesome. And particularly that Show 92 is a super popular episode there, so go check that one out. But why don’t you give us a little bit of background, just tiny bit and, and catch us up and then we’ll we’ll get into some philosophizing here.

Jason Foster [00:04:42]:
All right. So my my name is Jason. It’s still Jason. And I live I live in Western Massachusetts, which is about 90 miles west of Boston. I’ve been

Jordan Berry [00:04:52]:
Real quick on that point. Can you just can you just tell us how cold is it there right now?

Jason Foster [00:04:59]:
When I got up this morning, got into my car to head to the gym, it was seven below zero.

Jordan Berry [00:05:05]:
I just

Jason Foster [00:05:06]:
I supposedly wind chill to bring it closer to negative 15.

Jordan Berry [00:05:10]:
It was cold. Mm-mm. No. No. Just no. Like, humans should not be in that weather. I just don’t. I don’t think that should be the case.

Jordan Berry [00:05:20]:
Okay, anyway, sorry for that.

Jason Foster [00:05:21]:
You know, I also don’t mind being on a beach every now and then.

Jordan Berry [00:05:24]:
That’s right. But try doing it every day

Jason Foster [00:05:27]:
and cold

Jordan Berry [00:05:28]:
skiing. Yeah.

Jason Foster [00:05:31]:
Yeah. So, yeah, we’re we’re so we’re in the Northeast. We’re Northampton, Mass, Ninety miles west of Boston. My background is I’m I guess I’m an entrepreneur. I’ve been involved with either as a % owner, equal business partner, or an equity investor slash partner with about six or seven different businesses. My most recent and last business is a laundromat. I bought my laundromat six years ago. It’s about a thousand square feet, a % unattended, and no wash, dry, fold.

Jason Foster [00:06:03]:
Everything is self-service. So my customers generate a % of the revenue that I receive. And that’s the way I’ve preferred it so far, and there’s a chance I could get into a wash dry fold. But, the only thing that the big change since the last time I was on is I’m an empty nester now. So my wife and I have been trying to figure out how do we plan our lifestyle so that we can travel and not be burdened with an unattended laundromat. So I’ve spent a lot of time setting up my laundromat so it’s more passive income and less hands on me being there all the time or even, you know, ten to fifteen hours a week so that we have the flexibility in our schedule to travel and enjoy life as empty nesters should.

Jordan Berry [00:06:56]:
Yeah. Well, first of all, congrats on kicking the kids out of the house. I mean, that’s a big, big win for you right there. No. But, but seriously, you know, what I what I love about that is and we’ve talked about this before, but what I love about that is that, you know, it’s easy to lose sight of. Why why we build businesses, right, like we build businesses or we buy businesses, we run businesses to give us the kind of life that we want to build for ourselves, right? Like having I’ll just be on like even a laundromat, which is a pretty simple business, at least at first. You know, having a business or running a business almost always is harder than at least at first is harder than having just a job. Right.

Jordan Berry [00:07:48]:
And so in order to learn the skills, you need to learn to own a business, buy a business, run a business. You know, there’s a there’s a learning curve that goes into that. And you have been fortunate that you’ve kind of spent like a lifetime developing those skills.

Jason Foster [00:08:03]:
So by

Jordan Berry [00:08:04]:
the time you got to laundromat, you’re like, this business is awesome. It’s easy, you know, or simple.

Jason Foster [00:08:09]:
I guess I want a sense for how to run and own a business, but I didn’t know anything about machines or the laundromat industry. In fact, I wasn’t I was a little anxious building the week before I bought the laundromat because I didn’t know anything about the laundromat industry. But the confidence that I had was I knew how to run a business, and I knew that I could somehow turn this into something that would eventually become passive income. But it didn’t happen overnight, and it and there was this there’s a meth a methodology to the steps involved to creating what I would define as passive income out of your laundromat.

Jordan Berry [00:08:48]:
Okay. So you’re hitting the hot button issue here, which I love and I really wanna get into. But real quick, before we start talking passive income, because I do want to get into that, it’s, you know, it’s it’s the buzzword the gurus use to lure the masses into their courses a lot of times. And it’s the word that laundromat owners on Facebook groups and forums love to hate and love to make fun of. So I definitely want to get into that and share your and my philosophies on passive income and laundromats. But before we do that, you know, maybe we can maybe we can start with, you know, if we’re going to philosophize a little bit here, let’s start with buying a laundromat. And, yeah, I mean, you mentioned, you know, you’ve owned businesses, you’ve run businesses for years before you bought this laundromat, right? And you had a little bit of anxiety there, you know, for it because there’s a lot that you didn’t know. Let’s let’s talk a little bit about buying a laundromat and and specifically those that are having trouble.

Jordan Berry [00:09:55]:
Buying the laundromat, what do you do you have any thoughts on that, because it can be tough to pull the trigger to buy your first laundromat, your first business. But do you have any thoughts on on that in particular?

Jason Foster [00:10:10]:
Sure. So when I got involved, my very first business was Western and Laundromat, it ended up evolving into a syndicated market research company. It was there weren’t a lot of things that I was thinking about. First of all, I was in my twenties, you know, my my early slash mid twenties. Mhmm. So I wasn’t even aware of all the things I didn’t know, you know, now that I’m much older. But when I was buying that or buying into or investing in that business, I had two business partners. So I had two people that I could lean on, and we could figure out together how do we grow from point a to point b.

Jason Foster [00:10:46]:
And I was lucky it worked out well. But when I was and then, you know, as you get involved with your second business, you have a different type of confidence, and then your third and fourth. And the other thing is you have a little more financial security and freedom. So when I went to buy this laundromat, for me, it was like, I didn’t have to worry about my personality. Can I handle it? I’ve never done this before. That was not a factor for me. I in fact, because I had owned other businesses, I felt very confident that I could turn this into something that would work. What kept me up at night was I don’t know anything about machines.

Jason Foster [00:11:19]:
So what happens if a pipe bursts at three in the morning? Well, I don’t know a plumber. Am I gonna call a plumber and deal with, like, massive flooding in my laundromat? So those are the things that really concern me. And the other piece was my whole life pretty much, I had been dealing with white collar business. When you own a laundromat, you’re dealing with the ethnography of people in the laundromat as all walks of life. So I had never dealt with the general public like that before. And it’s it’s not that it’s better or worse. It’s just a different set of people and customers that you’re that you have to orient your mind to dealing with. So I didn’t have that experience.

Jason Foster [00:11:56]:
But for me, when it came to buying a laundromat, there was not a hesitation in this is a business. I’m not sure. I’m I’m leaving something out. Like, I wasn’t leaving the security of a job or employment. And and I already had enough savings to be able to capitalize the laundromat however I wanted to. So I didn’t have those considerations. And I think people well, there’s different types of people that are looking at buying laundromats. There’s the, you know, you have your younger millennials and your older Gen z.

Jason Foster [00:12:29]:
And I know this because they’re the ones contacting me to buy my laundromat, which I’m not actually for sale. But, you

Jordan Berry [00:12:35]:
know, obviously, for the right price, I would sell. Everybody’s for sale. Come on.

Jason Foster [00:12:38]:
That’s right. Well, I I already did get to it. I said for the right price, of course, I would sell. But then there’s the, I would say, 50 demographics. People that have already had a little bit of a career, and now they’re looking to set themselves up in retirement to generate some income that doesn’t cause them to dip into their savings. Right? So maybe I fall into that category when I was buying this laundromat. And it’s very different philosophies because if you’re in your twenties or even early thirties, I think the the considerations are gonna be different than when you’re in your fifties. Because when you’re in your fifties, you almost you know better and you know too much.

Jason Foster [00:13:16]:
And if you’ve never owned a business, I think it’s much more intimidating in your fifties to buy into a laundromat because, you know, they’re not cheap. Or, I mean, some of them are, but, you know, everything comes with a price.

Jordan Berry [00:13:29]:
Yeah. They’re not cheap. Even the cheap ones are not cheap. Yeah.

Jason Foster [00:13:33]:
And you’re now taking a big leap of faith in yourself. So there’s a personality you have to sort of investigate and internalize. Like, I was born an entrepreneur. You know, circumstance and some of the things that I did caused me to be in situations where I was entrepreneurial. But if you’ve never owned a business, then you sort of have to analyze, are you the type of person that can own a business or buy a business? And I, you know, I hear stories about people that have been looking to buy a laundromat for a year or two or three. Well, sometimes, you know, and there are exceptions, sometimes you can’t find the right business. The numbers don’t work. It doesn’t make sense, and it’s a bad investment.

Jason Foster [00:14:16]:
But more times than not, just from the own interactions I’ve had with people, and in particular, it’s more of the 50 crowd, it’s a little bit of a personality conflict because they’re looking for this silver bullet and it doesn’t exist. You know, you’re never gonna find a risk free scenario where you invest, let’s just say, 300,000 or $500,000 and there’s no guarantee that it’s gonna work. So I think that creates a lot of hesitation in people that they’re gonna have to look within and say, why haven’t I been able to find a laundromat suitable for me in eighteen months or twenty four months? Because I can tell you, like, if I were to go out and start looking for a laundromat, unless the numbers don’t work, and there’s always a way to justify that they don’t work. But if the numbers truly don’t work, I’m not gonna invest in it. But I’ve had opportunity at least three times now to buy laundromats within a five mile radius of my house. And some of them I’ve passed just because I’m not looking to take on new things, and I didn’t wanna have to deal with a wash, dry fold. But so I feel like maybe I’m in a rare exception in terms of, like, where I am in the Northeast. But from what I’ve come to understand, if you could put me into Colorado, you could put me into Iowa, you put me anywhere, and I feel like I could probably find an opportunity because that’s that’s my personality.

Jason Foster [00:15:41]:
I’m not gonna jump into something if the numbers don’t make sense. But when I bought my laundromat, I didn’t know anything about the numbers. I I knew what the owner was telling me. I knew how to calculate what I thought the revenue should be. I did my own diligence. But other than that, it was my entrepreneurial personality and experience that allowed me to just yeah. I’m gonna pull the trigger. I mean, I started talking to the owner, in, let’s say, October.

Jason Foster [00:16:09]:
By December, we had a deal. And it’s so there’s this whole philosophy of, is it really you can’t find the right investment, or is there something else that’s holding you back from buying that laundromat? Because those Gen z’s and the millennials, they don’t have any hesitation. They just wanna get a better deal. And, you know, when they talk to me, they’re hoping to grab my laundromat for hundred thousand dollars. And this is not gonna happen with me. But, you know, it it they didn’t have the hesitation of, do I know what I’m doing? They were just they were ready to do it.

Jordan Berry [00:16:41]:
Yeah. Well, so I encounter this all the time. I’ve I’ve mentioned this before on the podcast, but, like, I encounter this all the time. And I have clients even now where, you know, we’ve been looking for a long time. And, you know, part of it is there’s a, there’s a. A mindset of like wanting to it’s it’s like the the analogy of having, like, green lights all the way down the road before you get started, right? They want to know exactly what’s going on in that they’re going to have green lights going all the way down the road instead of, you know, going in. When the red lights come, you just wait or you do what you need to do. And then the light turns green.

Jordan Berry [00:17:20]:
You keep going. Right. And, the the, the thing about the industry right now is that it, you know, when it comes to buying is that it is a seller’s market by and large and. In a seller’s market where there’s many more buyers than there are sellers at the moment in most markets. Quick action is what’s going to get a deal done right. And so having, having an idea of what you’re looking for and taking action on it. So reaching out to the owners like you, you know, no harm done. If I say, Hey, Jason, like you’re interested in selling, you know, for $100,000 or whatever, and you’re like, you got to give me like 10 times that if I want to sell.

Jordan Berry [00:18:11]:
Okay, well, no harm done to me, right? But I’ve taken some action, right? Trying to find now maybe I’m fishing in the wrong pond or whatever, but that action is what’s required. And by doing that over and over and over again, you start to get a feel for. What you’re what exactly you’re looking for, and by taking that action, you start to get a feel for, Okay, well, what are owners really wanting? Right. What’s going to what’s it going to take to get an owner to sell? How do I communicate with an owner or a broker or whatever? Right. In order to do that, you’re you’re when you’re taking actions, you’re learning in a way that you can’t learn on YouTube. You can’t learn on a podcast. You can’t learn reading a blog post or in a forum. You’re learning in ways that are going to benefit you.

Jordan Berry [00:18:58]:
And I’ve seen this happen over and over with consulting clients, right, where they’ve they’ve taken the action that I’ve told them to take any, you know, eventually they come across one where they’re like, this is the one like I’ve seen a lot of deals now and this is the one I know exactly what I’m looking for, right? But it’s that action and then jumping on it quickly when you know that it’s the one that you need to take action on. And that Yeah.

Jason Foster [00:19:22]:
Go ahead. Well, sometimes you need to be creative too. I mean, for I’ll give you a real example that happened, you know, several months ago. I had a young woman approach me, and she which seemed very, very serious and apparently had capital and funding and a wealthy grandfather who was gonna fund a deal from an entrepreneurial family. And she wanted to buy the laundromat. I said, look. It’s gonna take probably seven x of my net revenue because I I wasn’t motivated, but that would motivate me. And in the end, we actually started going down a path that was a little more creative.

Jason Foster [00:20:01]:
I wasn’t completely I really didn’t wanna sell even for a a a an inflated price, but I liked what she planned on doing. She was gonna be acquiring laundromats in different parts of New England, you know, of course, in theory. And if she had the funding to do that, I thought, you know what? Maybe I sell a minority percentage of my laundromat so that I can get a minority percentage of what she’s trying to build. And that I had never thought of that until Mhmm. I’m literally in the middle of potentially doing a deal. And I thought, wait, this could be an interesting way to to structure it. So for all those people that are looking to buy a laundromat, perhaps you could think about approaching an owner and saying, don’t sell me all of it. Sell me a part of it.

Jason Foster [00:20:49]:
But I want rights of first refusal if and when you do decide to sell the rest. So now you’re already in line guaranteed by law to acquire the rest of it, and it’ll help you get your feet wet with, you know, the laundromat and getting to know the business. Without investing half a million dollars, now maybe you’re investing a hundred thousand, but you’re also sharing in 20% of those profits. And it’s it’s so it could be a better way to not take all the risk. Yes. You’re taking on a business partner that you may not know that well, but maybe you get to know them before you actually do that kind of deal. But the other piece of, alright. I’m not for sale, and I wasn’t looking to sell the laundromat.

Jason Foster [00:21:31]:
But when someone does approach me, and this is a little bit of leverage for the potential buyers out there, yeah, it’s a seller’s market. But when a buyer approaches me and they tell me they’re well funded, they’re serious about buying a laundromat, the first thought I have in my head is, uh-oh. What happens if they go to one of my competitors who’s not really that savvy? They don’t have new equipment. They’re they’re probably looking to sell potentially. Like, what happens to my laundromat when that new investor and new money and new energy goes into a competitor of mine. That is also a concern of mine. So, you know, don’t think for a second that owners don’t think about, well, if this person’s really serious, and even though I can’t agree on price, maybe I should do something because the potential that they’re going to begin to compete with you with new money and new energy, that also gives owners pause when they’re saying, oh, I’m not for sale. So, you know, there there’s a couple sides to this.

Jason Foster [00:22:31]:
But even though it is a seller’s market, there are considerations that sellers have to think about when a serious person approaches them that they think and know have money. And that they’re able and that they’re they’re itching to do something with to to to deploy that money. So, you know, they’re that’s also something I think about. But in the end, I don’t think it’s such a bad idea to have a minority percentage of a laundromat just to get your feet into the industry.

Jordan Berry [00:23:00]:
Yeah. I I mean, it reminds me, I did a podcast episode a while back, and talking about one of the things that is required for us to succeed in anything really is tenacity. Right. And so part of that tenacity, like, I love the creative, angle there because, you know, especially as a buyer in a seller’s market, like that creativity can be the distinguishing factor about as creative as most people get is, Hey, are you willing to offer seller financing? Right. Like that’s about as creative as most people get. But like you said, there’s there’s thousands of ways to get creative, you know, in in this business. Right. And I’ve I’ve seen people do stuff like that where they buy a minority share.

Jordan Berry [00:23:47]:
I’ve bought minority shares in laundromats before.

Jason Foster [00:23:51]:
I my motivation for selling a minority share is to get back into that passive income lifestyle that we’re gonna talk about. Because when I travel and I have to deal with something, if I have a minority partner that in our arrangement, they know that x number of days a year, they’re dealing with the operations and headaches and anything that might arise. That had a lot of appeal to me. So I was willing to give up, of course, for for a profit, but I was willing to give up a certain percentage so that I now had someone I could rely on when I’m not always in Northampton or near my laundromat.

Jordan Berry [00:24:26]:
Yeah. Well, and that what you just said is key. And I talk to my consulting clients about this a lot, right, is what you need to do, whether whether you’re talking with an owner or a landlord and you’re negotiating a lease, right? What you need to do is figure out what’s important to that seller or that landlord, right? Figure out what’s important to that seller and figure out a way to help them get what they want. Like for you, right? Empty nester, you’re looking to make things more passive. You’re wanting to travel more. So if I know that as a buyer, my brain kicks into overdrive saying, Okay, how do I solve Jason’s problem? Right? How do I help him make his business more passive in a way that benefits him in a way that benefits me so that everybody wins? And if you can solve that problem, which is entrepreneurship, right? Solving problems for a profit. If you can solve that problem for Jason, guess what? Now all of a sudden he’s intrigued and he’s more likely it doesn’t guarantee you a win or anything, but he’s much more likely to to do something with you now or in the future there. So I love what you said there.

Jordan Berry [00:25:35]:
And, you know, it’s a lot of it’s about building these relationships with these owners and figuring out like, Hey, what’s important to you? You know, whether you’re selling now or not selling like what’s important to you? Oh, your your kids just left the house. Oh, you’re trying to travel more. Oh, I wonder if there’s something I can do to help you travel more. Well, maybe I just volunteer to run your business X number of days, you know, a year for you as a way to kind of get my foot in the door with a plan to get a minority share or partner on a deal because I know you have more capital that you want to deploy later. And maybe we maybe we do a partnership on the next deal where I’m running the operations and you’re bringing the capital or, you know, those kinds of things where you’re now I’m solving problems that maybe you didn’t even know that could be solved that way. Right. Like that’s where opportunities arise.

Jason Foster [00:26:32]:
That’s right. And, well, it was interesting because this particular individual picked up on some of that, and she actually even said, look. I think you have this interesting strategic business mind that maybe we can deploy in a way that’s useful for both of us. And if we’re gonna acquire laundromats together, you’re the one that’s gonna understand the business. You’ll know if the numbers make sense. You know, you’ll know how to put a deal together, the things that she didn’t have any experience with. But, you know, so it was like, the minute I started thinking about it, I thought, you know, maybe this isn’t such a bad idea. But in the end, I don’t think there was the capital there and the other thing.

Jason Foster [00:27:12]:
So that’s sort of how it fell apart. And it was great because I didn’t I didn’t really lose anything. I still have the laundromat that I still like. But I will say when someone does approach you and they say, I have however many, couple hundred, 3 hundred, 4 hundred thousand dollars and then, you know, it’s cash, it does make you think, wouldn’t it be nice to just put that in a bank account or invest it? So, you know, there’s there are these things that you don’t think you might be stuck on a certain price. But the minute, like, real money is put on the table, it does make you think twice. So for all those potential buyers out there, just know that when you put an offer in, even if you’re not agreeing on price, it is planting a seed in that seller’s mind, and it might it might actually happen. You know, they might say, well, if I was stuck at 800,000 and all of a sudden you offer 6, maybe they’ll take it because money talks. And I didn’t think that I would reevaluate.

Jason Foster [00:28:10]:
But when she started putting money on the table, I thought, you know, maybe it wouldn’t be so bad to to put that to work for me in other ways.

Jordan Berry [00:28:18]:
Yeah. Yeah. Okay. I wanna get into the passive income stuff. So I’m gonna ask this last question on the buying side, and then let’s let’s talk about passive income and laundromats. So to the person who has been thinking or saying or or quote unquote trying to buy a laundromat for a year, two years, four years, ten years. I’ve talked to all of these people. You have anything to say, you know, to those people to try to.

Jordan Berry [00:28:50]:
You know, get them off the couch.

Jason Foster [00:28:53]:
They’ll put it in it because you’re on the

Jordan Berry [00:28:54]:
couch right now.

Jason Foster [00:28:55]:
Right. I’m not I’m not getting off. You there’s no perfect deal. There is no there’s nothing that’s going to say, look. There’s no risk involved. There is risk. So you’re just gonna have to make a decision. Is this something you wanna do or not do? Don’t stop kidding yourself.

Jason Foster [00:29:15]:
The perfect deal doesn’t exist. But there are opportunities. So you’re either gonna take the opportunity or just walk away from the concept of trying to buy a laundromat because they exist. Prices are a little inflated. Maybe it’s not the greatest investment for the return you’re looking for, but you will get a return. It just depends on whether it’s three years, five years, seven years, 10 years, but the return does exist. So if you have a longer timeline for getting a return, you gotta pull the trigger. Otherwise, you’re never gonna do you’ve proven you you’re not gonna do it.

Jason Foster [00:29:50]:
So now is the time to either get serious or just admit to yourself that there’s something else holding you back, and it’s not the actual numbers of the deal.

Jordan Berry [00:30:02]:
Yeah. Yeah. And a lot of times it’s our own minds, right? It’s our own mindset. I’ve been seeing this a lot in myself even lately where my mindset is it holds me back. Right. And that in, you know, I in my experience, that is a real thing, you know, that our mindsets and the ways we think about things can hold us back from from accomplishing stuff. And, you know, I’ll say all that while at the same time acknowledging I get it. Like it’s it’s scary buying a business, especially if it’s your first business or your first foray into this business, as you experienced as an experienced owner, you know, some anxiety getting into the business.

Jordan Berry [00:30:42]:
Right. So it’s scary. But you got to do it anyways, right? Like you’re not going to get anywhere if you don’t take the action. So you got to do it. You got to do it anyways. You got to you got to go for it.

Jason Foster [00:30:57]:
And the action, you know, I talked about personality. A lot of people might not understand that when you’re an entrepreneur. I didn’t become an entrepreneur because I thought, oh, I’m gonna get rich, and I wanna have my own business. And the best way to get rich is to have your own business. I became an entrepreneur so that I could control my life and be completely dependent for the most part on what I’m doing and not having an employer. So for those people that haven’t pulled the trigger, understand that it is like, if you wanna take control of your life, pulling that trigger on buying something, whether it’s a laundromat or self storage or whatever the other options are, that’s what it takes. And it is a little scary and intimidating. But think of it as you’re controlling your life and your destiny and setting yourself up for the future and potentially that passive income versus your whole life, you’ve worked for somebody, you’ve been an employee.

Jason Foster [00:31:54]:
It is a scary step. But if you don’t take it, it’s never gonna happen.

Jordan Berry [00:32:00]:
Okay. So if we don’t talk about this, you’re gonna get massacred online by other laundromat owners. So we need to jump into passive income and laundromats as passive income. Again, this is a controversial topic. This is what appeals to so many of the masses. You know, why laundromats appeal to so many of the masses because they’re seen as passive income along with a lot of other stuff, right? Real estate investing, self storage, vending machines, yada, yada, yada. But, you know, I mean, if you’ve ever owned a laundromat, you know, and I say this all the time, right? If whenever you’re dealing with people or machines, you’re going to have problems. And with laundromats, you’re dealing with a whole lot of both, right? So there’s problems that come up.

Jordan Berry [00:32:42]:
There’s things you have to do. So let’s talk about passive income. You’ve been mentioning laundromats as passive income, which I actually don’t disagree with with you. But talk to me about laundromats as passive income here.

Jason Foster [00:32:58]:
Well, the best way to talk about it is first, we have to define what is passive income. Because if we don’t agree with what passive income is, then, of course, you know, it’s gonna be impossible to get to a a a common ground of, you know, what is passive income. To me, passive income is money that is being generated without a % of your time required to generate that revenue. So if you’re normally working a forty hour week in a in a you know, as an employee, well, you get a certain income. What happens if you could get close to or the same income for working twenty hours a week? To me, now you’re you’re beginning to earn passive income, working twenty hours, getting almost the same income. What happens if you reduce that to ten hours a week and getting close to or the same income? That’s also passive income. So, Jordan, how do you define passive income?

Jordan Berry [00:33:57]:
So the way that I I mean, you’re hitting on the exactly. So the way I would define it is non correlation of money and time. Right? And so and I think when we hear it’s I think it’s a misnomer. I think it’s like not a good name for it. It’s a catchy name for it because passive does imply we’re not doing anything right. And so I don’t agree with that. I think we’re both in agreement. There really isn’t any true passive income sources, especially if you’re going to own any kind of business.

Jordan Berry [00:34:26]:
Like they’re just real estate investing, not passive in the sense of you don’t do anything even fully managed. You’re still doing stuff, right? Like, but if you can divorce time input from money input. To me, that is how I would define passive income. So for, you know, for everybody listening right now, that’s on the Facebook forums with all the, you know, the quote unquote passive income posts where somebody is peeing in your trash can or I had somebody poop in a Styrofoam cup and just

Jason Foster [00:35:01]:
leave it in the

Jordan Berry [00:35:02]:
middle of the floor.

Jason Foster [00:35:02]:
In your trash is a step up from what happened to me

Jordan Berry [00:35:05]:
and people a few weeks ago. On Christmas. Right? On Christmas day. Yeah.

Jason Foster [00:35:08]:
My I have a Christmas video up, a a short video of that, exact scenario. Yeah.

Jordan Berry [00:35:14]:
Speaking of which, let’s just pause just for a sec. I wanna get back in the passive income. But you have a YouTube channel. I wanna give it a quick plug here. Oh, thank you. You just started a YouTube channel where you’re sharing your stuff. Can you share, with us what that YouTube channel is or how people can find it?

Jason Foster [00:35:29]:
Yeah. So the YouTube channel is it’s the at sign, like email at laundry list, all one word. And the videos are basically I’m putting up videos of customers, customers’ experience, philosophies, business advice, sort of a hodgepodge of everything, but in a an an authentic, you know basically, most of them take place in my laundromat, and we’re interacting with customers and all the various issues and characters that that come up. But it’s at laundry list on the YouTube channel, and thank you for letting me plug that.

Jordan Berry [00:35:59]:
Yeah. No. And I’ll have links to that. If you’re on YouTube, that’ll be down below so you can see it there. But if you’re listening to this on the podcast, it’ll be on the show notes page, the link to that, as well so that you can go over there and give Jason a, a subscribe over there because he’s putting out good stuff. He’s just learning to

Jason Foster [00:36:17]:
smash all the buttons like, you know, the

Jordan Berry [00:36:19]:
I can’t leave the comments. Yeah, leave the. In fact, while you’re here, I’d love to hear your take

Jason Foster [00:36:26]:
like button.

Jordan Berry [00:36:27]:
I’d love to hear your take on passive income that we’re going to keep talking about here, because, you know, I fully expect there to be a range of opinions about this, and I think it only benefits us to to share it. So, but yeah, go over there and subscribe over there. Jason’s learning, you know, that making content is more work than it seems like it is over there. So help him, help him stay motivated. Keep putting that work in and go give him a subscribe and drop some likes and comments and all that stuff. So. Okay. So going back to passive.

Jordan Berry [00:37:00]:
Okay. So I mean, I think we’re pretty much in agreement, right? If we can if we can. You know, have our time and money to be uncorrelated. That’s kind of what we’re talking about passive. It’s not that we’re not doing anything. Is that Right.

Jason Foster [00:37:15]:
We can make it simpler. Let’s see if we can make the most money we can with the least amount of time. To me, that’s passive income. Okay. I want to make as much money as I can with doing the least amount of work. So for me, the closest that I’ve come to in any business, other than investing in the stock market because you truly do nothing, I mean, you had to earn the money to invest. But once you invest the money, you’re doing nothing, and it’s either gonna grow or not grow. But short of that, for me, buying a laundromat is the is the closest business the only business I’ve ever had where I can do less and earn revenue.

Jason Foster [00:37:52]:
It doesn’t mean I’m doing nothing. So I agree with anyone on Facebook that’s saying, you know, you there’s no way you do not of course, you don’t do anything. But there are things that I’ve done in the past few years to set myself up to better be able to do less and earn the same or more money. For example, I had to put technology in so that when I’m not in the laundromat, the laundromat is still able to function. Whether it’s the lights, the door, the fans, putting in technology in starting the machines. So, you know, I use PayRange as an app for all of my machines. And with that app, I can log in and I can actually see management reports. And believe it or not, I’m able to manage.

Jason Foster [00:38:34]:
I will know if a machine is malfunctioning. 90% of the time, the pay range management app will tell me it doesn’t tell me the machine doesn’t work, but I’ll see patterns that my customers do. For example, they start one customer starts machine one, machine two, and machine four. Why didn’t they start machine three? I can see it on the app. I can see what time they started the machines, and then I’ll say to the person that’s taking care of the, you know, cleaning and taking care of the laundromat when I’m out of town, hey. Do me a favor. Check out Machine 3. Maybe it’s dirty.

Jason Foster [00:39:03]:
Maybe it’s malfunctioning. Maybe it didn’t start. Maybe there’s a coin jammed in the coin slot. 99% of the time, there’s an issue with that machine because nobody wants to do machine one, two, and four. They do one, two, three. So Right. Anyway, so but those are the steps that you can take to set yourself up for what I consider to be more passive income. So I don’t have to be there all the time to know if a machine is not working.

Jason Foster [00:39:28]:
I can then direct somebody to, you know, fix the machine or clean it or whatever the issue is. So that’s how I would define passive income is doing things so that you can leave the laundromat and not be as involved.

Jordan Berry [00:39:44]:
Yeah. And and I wanna say too, just to kind of acknowledge upfront, I’m seeing an interesting bifurcation of the industry right now, which is really cool to kind of watch and see the different models that are that are coming out. So I’m seeing a lot of people implementing sort of the full service, a full laundry service center where you’ve got self serve laundry, you’ve got drop off laundry, you’ve got pickup and delivery laundry, maybe you’ve got a little shop where you’re selling stuff to, you know, and and basically doing full service laundry center. Anybody can get their laundry done, whether they’re doing it or you’re doing it, whatever the case. And I’m seeing a lot of businesses kind of going your route where it’s unattended. It’s as hands off as possible, obviously, at least for a while, that full service laundry center is going to be more hands on than the unattended laundry. However, I do think a lot of people, a lot of people have no intention of trying to minimize their input. And there’s nothing wrong with that.

Jordan Berry [00:40:48]:
Like, if you’re if you love working in your business and and doing the laundry, folding laundry, whatever, or just being there with your customers, there is nothing wrong with that at all. In fact, I think that’s a really great thing. And if your intention is to make it as passive as possible, there’s nothing wrong with that, too. So I just want to just everybody. There’s lots of different ways to build the life that you want to build, like you’re saying, right?

Jason Foster [00:41:15]:
Right. That’s what it comes down to. Like I my laundromat is well positioned to be as passive as a laundromat can be because it’s unattended and it’s all self-service. I don’t do wash, dry fold. I don’t pick up and delivery. I don’t do any of that. So if you do those full services, then, of course, it’s gonna be less pass. I mean, it’s like then it’s like almost any other business or company where you hire a manager.

Jason Foster [00:41:38]:
You’re still involved. You’re still making strategic decisions, but it’s running much more as a full service business. Mine is not a full service business intentionally. Mine is a business that can generate revenue without me or anyone else having to be there for them to generate that revenue.

Jordan Berry [00:41:57]:
Yeah. And and I’ll say, too, like you can go the full service route and still lean it pretty heavily on the passive side if you have the volume. And if you have the right people and technology in place to help you manage like you have a killer, I think of Dave Mints, right? Like not that Dave Mints is never in his stores, but he’s got he calls her a rock star manager, right? And she’s she’s running a big chunk of that business for him. And he’s leaned it pretty far on the past aside so that he can focus on building his empire, building his business, right, getting new customers, looking for new locations, you know, building out his location, starting a car wash, you know, like all the different things that he’s got going on. That’s one example of that. There’s lots of people doing that, too. So there’s different roads to similar outcomes there, too. And, you know, I guess one of the one of the points I wanted to make is that, you know, this business, one of the beautiful things about it is that I see passive as like a scale.

Jordan Berry [00:43:04]:
Right. And and you can you can kind of position it almost anywhere on the scale you can be. There’s lots of owners, especially in the past, but there’s lots of owners who they sit at their laundromats all day long, every day of the week. That’s what they like to do. And they’re there with the community and and they’re just there all the time, right? Like, that’s all the way on the opposite side of passive. And you can lean it pretty heavily on that passive side. You can’t really I mean, maybe you could with a partner or something, but it’s really hard to get it where it’s totally 100% passive. But you can lean it pretty heavily over there, and there’s different paths to get to either one of those or anywhere on sort of that scale

Jason Foster [00:43:45]:
there. And I If it’s an unattended laundromat, that’s all self-service. The person that’s sitting in the laundromat, you know, the owner that’s there all the time, that’s by choice, not out of necessity. Right? Like, I could I I do spend time in my laundromat when I’m in town, but that’s out of choice. It’s not out of necessity. You know, that’s the beauty of passive income. You know, if if we were to put numbers on it, and I’m just gonna make up numbers, if if you’re being paid a thousand dollars for one hour of work, then is that considered passive? You know, you’re making a thousand dollars an hour. What happens now if you’re paid $10,000 for forty hours of work versus working a hundred and sixty hours for $10,000 Which one would you define as passive? So if you think in terms of actual numbers, I think a lot of people would agree.

Jason Foster [00:44:36]:
If you can work forty hours and make 10,000 versus a hundred and sixty hours and make 10,000, the forty hours to 10,000 is more passive. Because, you know, a lot of laundromats, so if owners are in there one hour a week, one hour a day, or even thirty minutes a day, you know, maybe collectively over a month, they’re working forty hours. If they’re able to make $10,000 for that forty hours, that’s great. Like, to me, that’s passive or more passive than working, you know, forty hours a week.

Jordan Berry [00:45:06]:
Yeah. Again, it’s a it’s a scale, right? Sliding scale of passivity, if you will. And and to like some months, you know, you’re going to work the forty hours in the month. Some months you might work twenty hours and some months you might work one hundred and sixty hours, right? Depending on what’s going on and what happens in there. But the point is, is that the revenue isn’t tied to how many hours you work directly. Right. It doesn’t mean you’re not going to work. It doesn’t mean you’re not going to work a lot of hours sometimes.

Jordan Berry [00:45:37]:
You know, sometimes when you buy your laundromat, if it needs a lot of work and stuff, you’re working more than you would a full time job and you’re making less, right? Initially. And, you know, that’s that’s part of owning a business and building a business there. But. Again, I think, you know, I want I want you to kind of lean into a little bit, you know, this. I’ll call it lifestyle design. That was a hot buzzword there when the four Hour Workweek came out, which, by the way, is a great book if you’ve never read it. It’s a little dated now, but it’s a great book. And it’s a lot about what you’re talking about here, which is utilizing technology, utilizing, people to help build the lifestyle that we need.

Jordan Berry [00:46:23]:
And I think it’s really easy to lose sight of that when we get in the day to day of the businesses of like, hey, whether you have a job or a business or whatever your source of revenue is. The the point of it is to help you build the life that you want to build for yourself. And so, you know, I love to hear. A little more about like why you’re building the the business the way that you are and and some of the other ways other than some of the technology that you’re you’re trying to utilize to to help you build that

Jason Foster [00:47:00]:
lifestyle? Right. Well, this was you know, I I never thought about passive income or, you know, what lifestyle I wanted in my fifties and sixties when I was in my twenties or even in my thirties. So when I bought a laundromat, it was a business opportunity for me. It wasn’t, oh, this is great. I knew it had passive income and a passive income element to it, but I didn’t buy it because it was passive income. It was after I bought the laundromat that I realized, wait a minute. I can earn revenue without without having to be here a lot of hours. Therefore, I’m gonna sort of lean into that and figure out how do I do this so that I don’t have to be here a lot and I still earn money.

Jason Foster [00:47:40]:
And other than those few things I talk about with technology, the other main thing, and this is probably the biggest thing, is depends on the age of your machines. Like, the best way what is the biggest complaint that I have from customers? Oh, the machine didn’t work. Or the machine took my money. It didn’t start. Or there’s an issue with it, oh, it didn’t spin. So when you buy new machines, that is one path to being more passive because you’ll have less issues. And trust me, I have some new machines, and I still have issues with them because, you know, they’re not perfect. But I have less issues with the new machines than I do with my older machines.

Jason Foster [00:48:15]:
So the other element would be investing in equipment because that can create more, as you say, passivity for, you know, your lifestyle. So for me, I was fortunate. I earned money. I was able to invest the money and create enough of a nest egg where the passive income lifestyle can happen at my age now because I spent my whole life trying to build that. But the laundromat piece is it produces income to cover expenses. And to me, that, like, that’s the holy grail for me is have a business that can cover your expenses so you don’t have to tap into your nest egg or erode any of your principal. And I know, you know, a lot of people aren’t necessarily in that situation, but it doesn’t mean you can’t get to that point. So I’m at a point where the lifestyle I want is I wanna work a little bit, and I wanna have some income, and I wanna be able to do the things that I wanna do.

Jason Foster [00:49:15]:
And a laundromat actually allows me the luxury to do that. And that so that’s why I wanted to do everything I could to make this set up so that I can travel and I can I can avoid being there more than let’s say ten hours a week, or even five hours a week if I wanted? But you and then you also have to have a reliable person to come in and clean and take care of issues. And I actually, in one of my episodes on my YouTube channel, talk about a partnership that I did with a local seamstress. And he comes into my laundromat two days a week, and we have, like, this little trade going where he takes care of, you know, the issues and cleans and does that and deals with customers when I give him free space in my laundromat to promote his business and and sew and fix. So and it happens to be in the industry. So it was a great it was a great partnership. But so those are the steps that I took in order to create an environment where I don’t have to be there all the time. And, you know, anyone can do it.

Jason Foster [00:50:14]:
It’s not hard. It’s not complicated. It just takes a little bit of time, a little bit of thought, and you have to just take the steps to set yourself up like that.

Jordan Berry [00:50:23]:
Yeah. Well, and that’s that’s it. Right? That’s the formula is, you know, put some thought into it. Be creative in the way that you’re trying to solve the problem. And this is, you know, I want to actually step back for a second. This is something I think a lot of people don’t do, which is actually take time and you should do it. Like if you’re listening to this, I’m going to I’m going to go back and do this again because I think the clearer you can be on this, the better. And I think you should as soon as this episode’s over, I think you should stop.

Jordan Berry [00:50:56]:
Find an hour and do this. Take some time and and write down, define for yourself what exactly do you want life to look like? What what are you? How are you trying to optimize your life to to be right? And for you, it’s like, I want to, you know, have more time. I want to be able to travel, you know, those those types of things, right? And so. When we’re clear on what exactly it is that we’re trying to optimize for, maybe for for someone out there, it’s I want to I want to hit a certain revenue target, right? Or maybe for someone out there, it’s, you know, I want to make the biggest impact in the community that I possibly can. Right? So but if you can figure out like what what do I want my life to look like? Specifically, what things do I want to try to accomplish through buying this business or through owning this business or these businesses, right? If you can define that, then you can get your creative mind working on how to actually optimize for that, right? You can find the seamstress who can be in there serving customers, but also sort of helping you keep an eye on the place, right? You can find the the cleaner who can come in and take care of things. And, you know, when when washer number three is down, they can check-in on things when you’re in, you know, Florence or something, right? Like

Jason Foster [00:52:21]:
Actually, in this particular case, we were in Italy at that point.

Jordan Berry [00:52:24]:
See? See what I’m talking about? That’s what I’m talking about. Italy, by the way, if you’re not optimizing for going to Italy and you’ve never been, you should optimize for going to Italy. Italy is great. But if you’re very clear on what exactly it is you’re trying to accomplish, that will free your mind up to be able to be creative on how to actually get that. And I cannot emphasize more how important that is, that clarity is. And the clearer you can be, the more likely it is you’re going to accomplish that because our brains are these insane tools that we’ve been given that can solve problems that are in front of us if we’re very clear on what that problem is.

Jason Foster [00:53:08]:
And and once you get to that nirvana, you probably won’t be the person that’s taken five years to buy your first laundromat. Because you do need that if it’s taken you five years, you probably need to go through that exercise to get that clarity. I mean, for me, in my, not twenties, but by my mid thirties, I was trying to figure out what is the perfect balance of lifestyle that I want between work and family. And, you know, I spent a lot of time figuring out how do I balance work life and family life and prioritize both of them equally. So it definitely changes as you get older. And right now, I’m at the stage where how do I enjoy life a little more and prioritize more of the enjoyment and travel versus the work piece? And hence, the laundromat with the passive income to help me achieve that.

Jordan Berry [00:53:57]:
Yeah. Well, and that and I mean, I think that makes a great point because those transition points are also very difficult. You hear a lot about people who maybe have thing about it is, is not a static thing, right? Like our lives change. Our phase of life changes. You become an empty nester. You know, you move to a different location, whatever the case may be, right? Relationships change all that stuff. So this is something that. Probably annually, we should say, Okay, I’m going to spend an hour every year.

Jordan Berry [00:54:35]:
Just defining like, has anything changed? Do I still want what I wanted last year? Because I’ll tell you right now, like the person I am today is not the same person that I was just before I bought my first laundromat over a decade ago. Right. I am a very different person. A big part of that is because of those laundromats that put me through the wringer early on and were were difficult, a lot of obstacles to overcome. But also, I’ve gone out there and I’ve talked to a ton of people like you now on podcast interviews and just talking. Right? And I’ve learned so much from you and other people, and I’ve grown a lot and I’ve had all these experiences. And guess what? My goals have changed and they’ve shifted. My priorities have shifted as my kids have gotten older.

Jordan Berry [00:55:21]:
Right. So we need to keep revisiting this and saying, is this still the life that I want? Is this still the way that I want to live it? And is this still what I’m optimizing for on a regular basis? Because life life throws us curveballs. Life changes a lot.

Jason Foster [00:55:35]:
Sometimes it throws us really good laundromats to buy.

Jordan Berry [00:55:38]:
That’s right. That’s right. And that’s what we got to be keeping an eye on, too. You know what I mean? Always. Always. Well, dude, I don’t know. I’m I’m kind of jazzed up right now. I don’t know.

Jordan Berry [00:55:51]:
I got excited about talking this stuff, with you philosophizing a little bit with you. I think tackling that passive income piece is interesting. I’ll be interested to hear if anybody is listening to this and you’re you’ve got some opinions on the passive income side of things or differences or anything like that. I would love to hear about it. If you’re on YouTube, you can throw those comments down below. If you’re listening on the podcast, you know, feel free to post on the forums or shoot me an email, jordanlawnermetresource dot com. And any, any negative emails, I’ll just forward on to Jason, and I’ll just keep all the positive ones.

Jason Foster [00:56:26]:
I was actually told that having haters on a YouTube channel isn’t bad because the algorithms don’t know if it’s nicer or not nice. And it’s apparently it helps. Yeah. Yeah. It’s fine.

Jordan Berry [00:56:36]:
It may help your channel, but I’ll just speak from experience. It really it really harms the ego, especially when it’s the same comments that I’m slow talker and yada yada. I try, man. I feel like in my head I’m talking real fast, but I guess I’m not. So, but, no, listen, I think the I think the discussion is important. I I am I’m with everybody who is sort of the anti passive income in the sense that I think it’s harmful if people get into this business or any other business thinking they’re going to be making money. I mean, that’s what I was told getting into it right is like collect quarters once a week and, you know, profit, right? Like that was the that was the steps that I was given. Right.

Jordan Berry [00:57:21]:
And anybody comes in thinking you’re not going to do anything to earn money, really anything in life to earn anything positive. You’re just you’re being sold something that’s never going to a pipe dream, right? So I’m with everybody on that. However, with that said. The definition of passive income of disconnecting money and time, I think, is not a pipe dream. I know it’s not a pipe dream and is something that can be optimized for and driven. Strobe. Strobe for. Striven for.

Jordan Berry [00:57:56]:
Strived. Strived. You can strive for it.

Jason Foster [00:57:59]:
I don’t think there’s a D on it.

Jordan Berry [00:58:01]:
Yeah. Okay.

Jason Foster [00:58:02]:
Strive or reach for it. How about the word reach?

Jordan Berry [00:58:04]:
Yeah. I mean, you can strive for I was trying to think of the past tense of strife. I don’t know what it is. But anyways, it’s something you could accomplish.

Jason Foster [00:58:12]:
Maybe there isn’t a past tense. Strive implies future, doesn’t it?

Jordan Berry [00:58:18]:
Yeah, I guess. Maybe I

Jason Foster [00:58:19]:
haven’t thought about it.

Jordan Berry [00:58:20]:
Talk about philosophizing, man, is it getting real philosophical

Jason Foster [00:58:23]:
over here? Yeah. Is this like been the most philosophical podcast yet or has there been other that I was on?

Jordan Berry [00:58:30]:
Yeah. On probably on this on this episode, maybe we should talk about the meaning of life

Jason Foster [00:58:34]:
real quick. They may not be popular with the viewers, but we’ll find out or listeners.

Jordan Berry [00:58:38]:
Yeah, that’s right. Well, I don’t know, man, because I think this I think this passive income thing is. It I think it’s important. I think it’s an important discussion. And I think, you know, having that I just I don’t like the word passive income, I think, is what it comes down to because it does imply you don’t do anything. And I don’t I don’t like that. So maybe maybe next episode that we do together, we can come up with a different word for it and try to popularize it. So I don’t know.

Jason Foster [00:59:07]:
Yeah. Patent, whatever that word is, if you can patent a word,

Jordan Berry [00:59:10]:
patent it and, you know, I don’t know, somehow profit again passively. Awesome. Jason, man, this has been awesome. I’ve had a I just like I said, I’m I’m kind of jazzed up right now. I don’t know why, but this was just an invigorating conversation for me. I love what you’re doing. I love I’ve told you this before on episodes ninety two and one hundred and two. I love the way that and the Q and A.

Jordan Berry [00:59:36]:
I love the way that you think about this business and business in general. And all the more reason that you out there listening should go subscribe to YouTube.com slash, I think at Laundry List or Maundry List. But we’ll have the we’ll have the link to for you. So make sure you go subscribe to that. Did a lot of fun. A lot of maybe if, you know, hey, if you’re out there listening, we’re at the end here. So if you’re here, you’re you’re in it to win it with us, and you’re interested in having more discussion about passive income, let us know. And then maybe we’ll throw together a Q and A or something like that, or just a group discussion on passive income and laundromats.

Jordan Berry [01:00:15]:
And we can all debate each other.

Jason Foster [01:00:17]:
Income debate. Yeah,

Jordan Berry [01:00:19]:
live and in person. Well, maybe even in person. I don’t know. Know. You got to come to me, though. I’m not coming to negative seven. If we do it in person, I’ll just tell you that

Jason Foster [01:00:27]:
happily head to the warm weather.

Jordan Berry [01:00:28]:
Yeah, Okay. Awesome. I appreciate it, man. Thank you again for coming on once again and sharing your wisdom with us. I appreciate it.

Jason Foster [01:00:37]:
Thanks for having me. Great discussion and, we’ll have more in the future.

Jordan Berry [01:00:41]:
Yeah. You’re welcome. Any time around these parts. Appreciate it. Thanks. Massive income, creative offers, the message to couch surfers, technology, and a whole lot more in that episode. I hope that you loved it as much as I did because that was a really, really fun and enlightening conversation with Jason. So, hopefully, you got something good out of it.

Jordan Berry [01:01:02]:
But listen, as always, philosophy is great. Understand your philosophy of what you’re doing, why you’re doing it. All that stuff is great and is needed. However, you’re not gonna achieve anything that you wanna achieve without taking the action. So pick something out of this episode, whatever it might be, put it into action today this week, and, come back next week ready to pick up another action item for your to do list. Alright? Alright. Peace.