Codie SanchezFounder @ Contrarian Thinking

`Would you do THIS for $100,000? #shorts

22 Oct 2022 · 1 min

Watch on YouTube

0:50

Codie Sanchez bought a laundromat with seller financing and made $37,000 a year from it while it ran mostly on its own. She compares this to how hard it was earning her first $100k, arguing that buying cash-flowing businesses beats trading time for money.

Questions this video answers

More than $37,000 a year.

Over the next three years.

Chapters

What would you do for $100,000? I practically sold my soul working a million hours for my first 100k. But by far the most realistic 100k I've ever made was from buying a laundromat. This laundromat was run by somebody who was ready to retire and I was able to actually get seller financing on the deal, meaning that the seller of the laundromats allow me to take the extra thousand dollars a year to keep for myself and pay the rest over the next three years. I didn't realize that that was something normal. I just asked them if there was any way I could pay it over a time period. And this one little change of deciding that I was going to buy a business at CA load as opposed to have my income tied and have to ask a company for more money changed everything. That laundromat ended up doing a lot more in revenue, so I got to pay back the seller faster and I got to make more than $37,000 a year while running something sort of automated. The things you do for your first 100k are not going to be the things that you do for your last 100k. So the question is.