Bill Breaker and Screening Tenants!!! | Laundromat!$! | Following Keenan !
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- čas přidán 6. 09. 2024
- Bill Breaker and Screening Tenants!!! In this video I got my new Bill Breaker from MEI and Vendors Tech. I also will talk about I screen possible tenants wanting to rent from me. I get a lot of questions on how to screen future tenants.
My laundromat keeps having quarters leave the building. This is due to customers using large $20 bills. But they only need $% worth of quarters. So one way to fix this is with a Bill Breaker. I'll show you the one I got and explain what I have to do for the install. Cant wait to get it running and see if it fixes my problem.
If your still are trying to figure out what Following Keenan ! is? Well my CZcams channel is a combination of my money investment. How I run my passive investments and behind the scenes of what crazy thing happen. Some just typical days in life of laundromat stuff as well. Repairing machines, buying equipment, dealing with customers and buying more property. If you want to see what I've learned over the years in my life. Want to be entertained like MrBeast and other free laundromat, reality shows. Or need a good laugh. Then hit the subscribe button sit back and get a cold drink show about to start!!! I just love making fun and different CZcams Videos!!!!
I wear a Gopro chest camera for a lot of my footage. I shoot the rest with a Canon M50. Nothing fancy just good one on one contact with people, day in the life type content. I will also add advice of thing to do when owning a business. Mostly based off what I have learned doing it.
#coinchanger
#laundromat
#rentalproperty
Keenan - You do such a great job of showing us the daily grind of operating a laundromat. The everyday operation of a laundromat. Most CZcams channels just focus on the money. Your content is far more beneficial. I do want to buy a laundromat but it's way more important for me to be able to keep it up and running so it does bring in money.
Great advice on renting to tenants...
Man this guy is gold. I let the ads play so my homie can keep giving me this priceless information.
great advice
Thanks for another great video.
I have three multiple unit rental properties. This is what I do
1. Everyone who has an interest in the vacancy ad that I post I send a copy of the application to.
2. I tell them to fill out the application and if they're interested, hand me the application after the walk-thru. If not, then just throw the application away after leaving.
3. I hold an open house for 3-4 hours on one or two (Sat/Sun) days. (I got tired of people calling up at the last minute asking to change the day/time with appointments).
For 3-4 hours invested, I have a handful of applications to review and decide. Done and done.
Great way to do it!
@@FollowingKeenan After ten years, I have found;
-people who are kinda "sketchy" tend shy away from filling out aps. Then, they don't show or try to BS themselves out of it by offering 3-4 months rent in cash in advance. RED FLAG.
-If you get someone you like in the first hour of the first day, you can quickly group email a cancel for the remaining time. As it's first come-first serve (Open House) there's nothing that they can complain about.
-When you have three or four couples walking through the property at once, there's a natural sense of "I want to get this before they do!" attitude.
I have low vision so I don't drive but I had parents who taught me respect, concern and cleanliness.
I love chock full of quarters . Great people
I'm that quintessential tenant all landlords want. I don't smoke, don't play loud music, always pay on time, and take care of the place because I don't want to be charged for anything. Having said that, the one thing I hate about landlords is there application when it doesn't have an explanation section. If there is an explanation section, then I have no complaints.
Some questions on the application is geared to make you look bad with the simple "yes" and "no". For example, one question I saw said something like, "Have you ever terminated your lease early?" Who hasn't? Just saying "yes" may seem like I'm one of those people who will only be a tenant for five months and bail, but I'm not. Sure I've terminated early before (once), by paying the termination fee. The reason I left was I ended up finding a job in another town that was paying really well. Would of been nice to explain that.
Another question is, "List your manager's name, phone, and email." That seems like an easy one, but I can't list my manager's info, for it is against corporate policy where I work at. If I did list his or her' info and you the landlord called it, I could be found in violation of the policy and be fired. So I have to leave it blank which makes me look bad, which is why I would love if there were an explanation section. I realize the reason a landlord would need this is to verify employment. There are other ways to verify employment. Our company uses a service where landlords can call to verify employment. In addition to that I have no problem, giving the landlord pay stubs, and me doing a three way phone conversation with the landlord, me, and the bank to verify I've been getting pay checks deposited to my account regularly.
Awesome Video
Thanks!
@@FollowingKeenan You're Welcome
Their channel is Chock (rhymes with Lock) Full of Quarters. No shade what-so-ever. It’s happened to all of us at some time or another. Excellent information, as usual. Your videos are getting better each time you upload a new one. Nice job!!!
I think between there East Coast and my Midwest Hillbilly. I messed that up. Thanks for the help!!
Keenan!!!! Brilliant!!! Love learning more and more every video! Dude.. you rock. Hands down best content on CZcams. Thank you.
Glad you got something out it.
The car evaluation is very true. The beat up junk on 4-wheels is a tell all about the person's pride and respect to many things in life. Here's one for you.... grooming. Does the person cut their nails / trim (finger nails etc) especially men... if they are clean or dirty. Huge tell-tail... Good video!! You are a good teacher!
Keenan you're really smart. You've got street smarts, common sense, and business smarts. That's a killer combo.
I had a landlord call my job to ask me the same question about someone health I said are you for real are you trying to get me sued you can’t ask me about an employee health . I told the person you should know better than to ask that . I said why would you ask me about that because the employee was a disabled individual.. I will say your the only person to ask an employer that question.
My mum was an expert of busting me for being dishonest LOL Years later I certified as an Investigator & are certified as a Forensic Interviewer. All those tricks of the trade you speak of are easy to trick a liar up. I also had had tenants lie to me but one man was honest to say he had no work coming up.
He painted another rental (he was a painter) & was booked for 10 more homes in the same street. I know when I was renting I lost my job before Xmas & paid 3 months of rent up front to the Landlord. I was obligated to tell the truth as I needed that buffer.
I had another job 4 weeks later but my Landlord appreciated my honesty & gave us a week's free rent for Xmas. Sadly, not all tenants are honest or willing to tell you their problems. I have been burned for being too nice to tenants but I have been rewarded with a tenant who mowed lawns & did mine for free for 3 months but still paid all his rent on time.
Awesome tidbits of knowledge. Love the stories of your personal experiences in business.
Thanks! Guess I should share some more stories.
Great info thanks for the video
This is genius advice.
Great advice. I'm looking at renting out my old house.
🤔 very interesting 🧐
your an inspiring guy
Is there a street race going on outside? I keep hearing tires screeching.
That is the arcade machine!
@@FollowingKeenan oh lmao, okay. How come you didn't show us?
Thank you professor
Thanks for the tips.
AWESOME CONTENT ! ! !
" I WANT MY OWN LAUNDROMAT ! ! ! "
Do you farm your own ground or rent it out? I’ve looked into buying to rent, but it doesn’t seem like the land around here in SW Ohio rents for enough to cover much. I guess if you could buy it for the right price maybe it would but. I heard you mention that you were able to get some of your land for back when prices were down.
Do those breakers keep more cash tied up in your machine compared to just quarters? Do they make laundry machines that take bills instead of just quarters.
I’d love to hear more businesses advice especially getting started. It’s all great stuff for those of us looking to get into business. I worked for myself as a kid I wish I would’ve stuck with it lol.
I’ve been following Chock full of quarters too.
Great advice, Keenan! Thanks for the good content.
BEST EMPLOYER QUESTION EVER!: If 'applicant name' called you today and asked you for their old job back, would you hire them again?
Following Keenan content is GOLD! One of the best on CZcams.
I do the same thing when I hire truck driver. I look at there vehicle inside and out to see how they gonna treat my trucks.
Great video. I’m for sure going to look into a bill recycler. I’d love to figure out a way to retrofit a card reader on my Change machines
Thanks!! You can get bill vaildator now that accpet cc and money. Sometimes you have to change the computer board.
I was watching one of your videos when your comment popped up lol, keep it up!
The importance of knowing how to change locks is a good one. Cheap kwickset locks are a joke yet they are in so many homes because people buy what is cheap. A lock you can repin is valuable as you can reuse the same locks without reusing the same keys.
Knowing a lawyer ahead of time is very important as they can tell you what to have before you meet to not waste time to not waste money. The other thing to remember about lawyers is you want a lawyer that focuses on that aspect of the law as they might cost more but they are not wasting time/money needing to lookup the effected laws and past case history.
Really enjoying your content. Glad i followed you from a comment in another channel. Will look into the other couple you mentioned
This was super valuable! Tha k you
Great video and outstanding advice. You’re helping people take some of the apprehension out of starting in business.
Questions 5. You get them on that on .Then to Question 6. It alway differently ? Lol but I ask for the HR name then call them up ask them too ( not the boss.)
Great goodies on the tenant stuff. Is the Laundry mostly in the video going to be the one you want to remodel like the other with the metal sheeting on the wall?
What is the name of the music that plays in your intro videos?
S.O.S! (SaveOurSpeedqueens) 14 of the 32 washers are out of order as we cannot get a service tech to come and fix them because the Laundromat is in a rural Mountain town.. I'd like to think I'm pretty handy.. Can i learn how to fix them myself? Any suggestions??
then what would you think of me as a tenant who makes nice money per month and year but have never driven i live 8 mins from my job of 30 years but also pay my bills and rent 2 or 3 weeks ahead of time and have never paid the rent late in 30 years :)
Car is just one thing to look at. Like I said in the video, make an appointment, call 30mins before appointment to make sure still coming, and leaving a message.
The car just something I look at as a reference. But other things are also references to how that tenant might be.
I've rented to tons of for people with no car, handicap people and even ones just off the street. But you need to find people who care. Keep the place up, may not have alot but take care of what they have. That's my point. Hope that clears it up.
@@FollowingKeenan i would offer to keep up your places if i rented from you same with your matts iam the type of man you treat me good ill treat you good .
some street foaks just need a job that pays to get back on ones feet others just want a hand out its to bad the cops dont do more for your matts so they dont get all torn up
" I WANT MY OWN LAUNDROMAT! ! ! "
It seems to me, you would want s larger hopper for $5 notes to go in the bill recycler, put in a $20, and 4 $5 come out..
Or are they tightly compact when you get a roll of $5?
When I install it I'll go over exactly how it works. I did a horrible job at explaining this.
That round part on bottom of bill acceptor house $35 of $5 bills. Great part is this accept self reloads. As customers insert $5 Bill's it uses them to reload itself.
Only $35?? Or did you mean $350? Great video Keenan
Those tire shops save those tire and sells them to be shredded and made into Football fields, playgrounds, and so on . Not to be put on other cars, thats asking please please sue the hell out of me.
100% right about shredding the bad tired. But in my area at least my friends shops resell good used tires. That ashame not everywhere does that. Helps a lot of people in my area.
Here is a philosophical business statement.................You have too many customers.................... You refuse to believe it, so let me ask. Isn't there a customer/type you have in your business, whom, if they left tomorrow, you would see as a relief???
Isn't there a customer whom brings in a $, and costs too much? Your poorest profitable customer?
Ask your other customers, and especially employees, who should we get rid of among the customers, which would make you feel better about this business?
I've always said if you want to see how someone runs their life, go look in their car.
This is the stuff they DON'T teach you in school!
Omg that's scary, I'm a bus driver earning good money, have proof of my wages, and I'm a good person, but my car is terrible as it's a work wagon as I use it for so many purposes, but I'm a neat freak , my home is full of candles and believe me I hate dust and clutter,
I would hope you would see me get to know me and know I'm not that way inclined , 😔,
I laid out what I look for. If I see a person working taking care of their family and doing well. I would absolutely rent to that person. I was giving some tips of what helps me weed out the bad tenants. That also why I use all the steps, leaving a message, showing up at time, and application is truthful. Sometime I have rented to bad tenants because I over look things. Hoping I have a good one that just needs a second chance. Hope that make more sense. Thanks for the comment I always appreciate them.
Never thought about buying a laundromat before but now it seems to be a cashcow. Whats your thoughts on a carwash?
Car washes that's has even me stumped. I have few around me for sale. I asked my banker what he thought. He claims there time has come and gone. The bank i deal with has a client with a loan on a couple. Banker claims look for something else. That was enough to change my mind.
Yet I see people building new car washes. I like to stick with what people need. Housing, food, and certain services I feel those type or properties are needed.
@@FollowingKeenan Well you said how people take care of their most valuable asset is how they'll treat their home lol
@@FollowingKeenan car washes are far more expensive to operate than a money making laundry mat.
Why?
A: You have to buy drums of soap and wax, hire employees to run it for you (unless it's a self wash operation), and also the maintenance.
Carwashes around me are always busy. Especially the cheap quick self serve ones.
Good stuff... Do you do credit checks? How? What provider? I use www.cozy.co for tenant screening, credit checks, and online rent collection.
So you talk about judging a future tenant by their car what about someone like me that is legally blind and unable to drive a car therefore don’t own one
Then I go by the other tests. Message they leave, making the appointment, and the application.
Good point!!!
Just found them, Chock full of quarters sub#147
I watch chuck full, but I like watching this crazy white guy, lol,
typo on your intro keenan btw, it says stay turned in not stay tuned in -:, another excellent vid as usual
Good catch! Thanks.
Just like a strip club.... dude walks in and gets 500 ones, nope u get 100 ones at a time so u dont walk out and mess the night up
Your landlord Tactis is illegal. You should remove this video. Your prior potential tenants you didn’t rent to can sue you if they see this. Be careful what u put out there.
What's illegal? He's using common sense and his brain.
imlkrsfn I agree with him as a business owner however it’s illegal. Not my system. America’s.
First