The Most Overlooked $10K/M Business Anyone Can Start Transcript, AI Summary & Key Points

00:00 Would it be possible to start this business  with literally zero dollars? Yes. The worst case scenario was that I would make my money back.  It's zero risk if you do it that way. Really, anywhere there's people, this business will work.  There's a lot of ways to get free stuff. Would you guys take a minute and look at this freaking  23-year-old guy right here?

00:13 That's my friend Kyler. And he makes $10,000 a month simply by  renting out these ugly $50 washers and dryers on Facebook Marketplace of all places. He has  zero employees. He works 5 hours a week. and he has a three-step process to doing exactly  all this that I'm about to show you. So, come with me. All right, Kyler, I have to ask, of  all the businesses that a 23-year-old can start, what got you thinking about washers and dryers of  all things?

00:39 Yeah. So, ever since I was like 21, I loved posting on Facebook Marketplace. Okay.  Uh rental ideas. So, I started out with a nine square in the air game. Uh it's like a Utah Mormon  game. Got nine kids. I would rent that out for maybe a couple hundred a month. started renting  out paddle boards only on Facebook Marketplace. Facebook Marketplace only.

00:59 Are you like paying  to boost these or is it just organic? Uh I would do it organic and then boost it if it got any uh  interest. Okay. Um but I would love to test ideas that I didn't own. So like excavators, chainsaws,  luxury bathrooms. You didn't own You didn't own this stuff? Didn't own any of it. So why are you  posting it? I would just take a screenshot off of Google to test it to validate.

01:19 Sure. Okay. I ain't  trying to buy it unless I unless it's tested. No, we're in the land of the cheap right now. This is  Utah. Hot tub rentals, pool rentals, dump trailer rentals, everything like that. And you're just  you're just like a cook in the kitchen. You're you're in a lab. You're experimenting. Yeah. I  mean, I just put them up. I mean, if the photo didn't look real, it didn't get a lot of hits.

01:35 But  I was always trying to find like these micro like, oh, if I have 50 things rented out or whatever at  $20, I mean, I'll make $1,000 or whatever. Yeah. Always checking like chat GPT or like uh internet  things of like what should I rent? And I don't really know how I came up with it, but I just one  day I put a washer and dryer there. I have no idea why.

01:56 And you said the photo needs to look real.  It needs to look real. That's an important part of it. They can tell. I don't know if it's Facebook,  the algorithm, or the people, they can tell if it's a if it's a blurry screenshot, you don't own  it. So, I put a washer and dryer for rent. Then, I went on a a cruise cuz I did summer sales and  they paid for a cruise.

02:09 And when I got back, I had no service. And there was like uh 30 people.  At that point, I did not own a washer and dryer. So, we're talking about 30 messages on Facebook.  Yeah. messages about washer and dryer. Renting the washer and dryer. How much did you list it for? I  listed it, I believe, for $50. I feel like there's got to be a secret sauce to like how you're  wording these Facebook Marketplace posts.

02:29 Oh, no. There there definitely is. Okay. When are  you going to show me? I'll show you that when we go inside. All right. We got to get inside  then. All right. All right. So, $50 for a month. For one month? Yeah. Okay. And these are like  the high efficiency like the fancy ones or The only experience I had with washers and dryers is  I delivered some for like a third party company.

02:50 Like I was a third party company. Okay. But I had  no idea what I was going to buy. High efficiency old ones. I just took a random screenshot from  the internet. Okay. Yeah. Okay. But it wasn't too blurry. It wasn't too blurry. It looked real.  It looked real enough to get some hits. So, and out of those 30, I messaged them all back.  Yes. Are you still interested?

03:03 Yes. Are you still interested? Yes. Are you still interested?  Okay. And somebody in Orm was like, "Yes, can you install it tomorrow?" Okay. So then I live across  from RC Willie. It's like a Home Depot in in Utah. And I bought my first set not knowing anything.  After you had rented it out after I had rented out before you had spent any money. Yes.

03:21 Okay. And let  me be clear like Facebook Marketplace is all about time to respond, right? Yes. And you did that  wrong. Cruise. I did it very wrong. Despite that, you you found a buyer. You found a renter. Yeah.  There is there was enough interest. And out of those 30 people, I think maybe like three or four  were like actually interested. Wow. Okay.

03:34 Like, yeah, I want to rent this. I mean, a lot of people  think it's for sale for $60. So, they click it and then I'm like, did you not read the title? for  rent, right? What did this tell you about this idea? Because at this point, you'd already listed  all kinds of random stuff. Were you hyped at this point? I was very hyped. I didn't sleep for like 3  weeks, probably.

03:52 What What were you doing instead of sleeping? Well, I just had a vision. I'm a  very I can I can observe. You're a visionary man. Yeah. I can I can see it before it happens.  Okay. So, I was like, "Okay, in Utah, you have six months of hot, six months of cold." So, any  rental idea sucks because, okay, you get a boat, you can't rent it during the winter.

04:13 You get a  razor, you can't rent it during the winter. Yeah. You get something in the winter, you can't rent it  in the summer. So, I was like, washers and dryers, they all year round. And it stays in their house.  So, I don't have to worry. Like, it's just a very, very niche rental idea. You know what I mean? And  so, you knew kind of what to expect after posting anything.

04:30 And this blew your expectations out of  the water. Lot of interest. And then I just like the idea like with the paddle boards, I had to  meet with them every day and like clean them all off. But I like the idea of like, oh, I'm going to  go put this in someone's house and forget about it and they're just going to pay me monthly. And I  knew it was going to work.

04:42 And I also knew that the worst case scenario was that I would make my  money back. Okay. So, you get this thing rented out. You don't have any legal agreements, no  contract, no insurance, just like a thumbs up on Facebook Marketplace, right? Yep. So, you go to RC  Willie to buy this machine. How does that go? So, I went with my little brother cuz we were going to  go install it.

05:03 Talked to the sales guy. I told him I wanted the cheapest one that like was going to  last longer and definitely was the most expensive set I bought. I bought three of them actually  that day. So, the first set you ever bought ended up being the most expensive you ever bought?  Yeah, they were like $1,000 each. It was like $450 for a washer, $450 for a dryer plus tax.

05:23 And you  bought three sets? Yeah. How much of like your life savings did you put into this business? Um,  within the first like month, I probably put half of it or more. Half of your life savings. Half  of my life savings. That's into it. a promising Facebook marketplace post. Yeah, I love it. All  right. All right. So, $3,000 worth of washers and dryers.

05:41 Do you go straight from RC Willie to that  first customer or what? I believe so. Yeah. Went to the first one. It was a Forplex and Orum.  I had not tons of experience installing them. It took like maybe probably took an hour longer  than it should have. Probably took 2 hours. Got it all. And the first one was kind of a failure  cuz like their dryer vent was completely full of lint and I didn't even know that was a thing.

06:01 So, after like the of the house was full of lint. You didn't know it's cold. The dryer vent of the  house was full of lint. And so like 2 hours later, she calls me and I bought nice enough dryer where  it doesn't work if it's full of lint cuz then it's going to cause a fire. So I'm like, "This already  sucks." The very first one I put in, they're already calling me the dryer doesn't work.

06:23 I don't  know how to fix it. So then I went back, I bought the stuff to clean the dryer vent. Now you're in  the vent cleaning business unexpectedly. And now I just tell them, "Go call your landlord. I ain't  touching your vent. Okay. Okay. But but yeah, I was in the I was in the vent cleaning business.  I got her all going. I made a went to Google Docs, printed out a contract that is not legally binding  at all.

06:43 Okay. And she still to this day pays cash app the 15th of every month. November 15th, 2023.  Wow. That was your That was my first install. Did it feel good? The 15th of December was amazing.  Yeah. That was my first uh $60 of passive income. Free passive income. All right. So, first install  was November 15th, 2023. Yep. How did those first 30 days go?

07:09 Uh it was pretty exciting. I think we  did like four or five installs in the next like 2 weeks. The first person paid cash app and I was  like, if I'm going to scale this, I do not want to text people and have them like remind them about  their payment every month. So then the very first thing I figured out was like looking up payment  processors. I found Stripe.

07:24 I was like, I think this is going to do what I need to do. I can make  subscriptions, process all the credit cards. So, that was the first thing. And then I was like,  there's got to be a way to get cheaper washers and dryers. So, I called all the wholesale places  in Utah. I just told them like, I'm a property manager. I'm a builder. I need a 100 sets.

07:41 Like,  I was just telling them like I didn't want to tell them I'm running a rental business. So, I just  told them that I was a property manager. I needed a lot of sets. And they gave me a bunch of quotes.  And I gave them $30,000 to get my first x number of sets. I can't remember how much it was. So, why  didn't you want to tell them that you were renting these out?

07:59 I just didn't want them to know what  I was up to. You thought they might charge you a little extra. Charge me extra. Tell me it's not  going to work. And I was like I was in my lane. I knew it was going to work. So, I didn't need to  hear the hate. So, I just just rather tell them like, "Oh, it's probably normal. Like, property  managers need to buy a lot of washers and dryers.

08:16 So, I'll just pretend I'm a property a 23-y  old property manager." It's kind of like if you were to roll up in your cyber truck, they'd  be like, "Oh, the price just went up." Right. I wish this thing was mine. Oh, that's not yours?  No, my car's over here. This isn't that type of video. All right. How did that first 30 days go?  The first 30 days were exciting.

08:26 We did, I think, four installs in November. Then we did like 17  in December, and then like 13 in January. We installed all of the brand new sets that we had  bought from the wholesale place. When I say we, I'm talking about me and my little brother.  Okay. So, like 35 sets? Yeah, around 35 sets. 100 bucks a month each. They were paying between  $60 to $85 each for each set or for each unit?

08:53 For each set. Okay. So, let's call it 80 bucks  times 32. So, $2400 a monthly recurring revenue about that. Yeah. In your first two months,  give or take. Yep. Holy crap. All right. Now, when did you learn like I don't need to buy the  newest nicest machines anymore? In fact, I'm kind of worse off when I do that. Yeah. So, after I had  run out of those sets, I was like, I'm curious to know the original picture that I posted was a new  set.

09:17 Okay. And that was part of the whole pitch of like, you're going to get a new washer and dryer.  And I would literally take them out of their box in front of their house and put them put them in  it and they loved it. Yeah. But then I was like, from what I can gather and observe, these people  just want a washer and dryer. So then I put a a really old used set for the same price and it  did the same thing.

09:34 It got a lot of hits. And I was like, "All right, let's go let's go buy some  of these." And so I'm guessing it probably didn't even get many fewer hits, right? And that was kind  of the big unlock. Like what why am I buying these new? Yep. So, the use sets are like anywhere from  $0 to 200. What are we talking about? 0 here. How you getting free sets?

09:56 There's a lot of ways  to get free sets. Okay. What are you going to spill spill the beans here? So, the three ways  to get free sets. You go on marketplace, type in free appliances. The turnover for washers and  dryers is insane. Okay. Every day there's hundreds of washers and dryers posted getting sold. People  are moving. People are moving. They break.

10:10 They're getting upgraded. In Utah County there is like  Yeah. It's just like liquid. All right. So, if there's a lot of washerdryer turnover in any given  market, what's the secret to getting these suckers for free? So, you just type in broken appliances  or free appliances. And a lot of times you'll find at least five to six listings that are like these  need to go.

10:30 We're moving on Friday. First person to get them can have them for free. That happened  yesterday. I checked them yesterday. Nice washer, nice dryer that are both working. So, you can  get free sets that way. And then at the time, so there's three big used appliance stores that  sell appliances. and I would do their deliveries. The person would buy a set.

10:49 I would go deliver the  set and pick up the washer and dryer and typically one of them was still working. Then I would fix  the other one and then you have a technically free washer and dryer set. Okay. Is there any like  special filtering you do when you're searching for these or it's just the keywords? I  just put the keywords in free appliance, broken appliance.

11:06 Um and it's kind of first to  get there get to it. Yeah. So you need to have some way to haul them. But honestly, you can  find good sets for like $100 and $200 all day every day on So, let's just say hypothetically,  you had a friend with a trailer or a truck. You found free units. Would it be possible to start  this business with literally zero dollars?

11:20 Yes, you you could start this with zero if you Let's  just say Okay, so my barber, my neighbor, okay, he cut my hair two days ago. I Okay, he did a great  job. Yeah, he said he'd give me a girlfriend. So, we'll see. Okay. Okay. So he he has a washer  and dryer in his salon washing the towels, right? His n someone was cutting his uh someone  came in there and offered him and gave him a free washer and dryer.

11:48 So this man has a free washer  and dryer and he would he he's going to rent him out. He posted them on Facebook yesterday. He's  going to rent him out and he'll make $60 $70 a month with one set and he's excited. So that's an  example of he he'll start the business with zero. So, if someone were patient enough and they  never wanted to buy a set and they wanted to scale this business if you could be patient  and always on Facebook Marketplace or setting up alerts or using bots or whatever, you  could technically never

12:08 buy any units. Yeah, it just might take a minute. Okay. All right. My  mind is blown. I'm about to like I'm about to go to Facebook Marketplace right now. All right. So,  Facebook Marketplace is fine, but what if you want to scale faster? We're greedy. We want to go to  10K a month within 3 months. How do you do that? How did you get to that point? So, I found out the  used market was going to be really good.

12:25 I did a tiny bit of research of what machines I should  get. I was supposed to do a delivery and all the stores were closed. So, I went on to marketplace  and I found a guy that had like eight listings, okay? And I was like, "Oh, I guarantee this. This  is like a little family running a used appliance shop." I went and met with them. They had barely  opened a couple months ago.

12:42 I told them that once again, I was a property manager. I wanted a lot of  sets. We made a deal, a handshake agreement that we've agreed to for the last year and a half that  they would sell me sets and they would guarantee them for 2 years. So, it was a zero risk in my  head because the used ones pay themselves off in four to five months and they were going  to guarantee them for two years.

13:02 Okay? So, we've got both ends of the spectrum. If you want  to go slow, go cheap, look for free units or buy them cheap on Facebook Marketplace. If you want  to go fast, go hard, look for people listing on Facebook Marketplace multiple times a day. That's  kind of an indication of scale. Reach out to them, develop a relationship, and try to buy everything  from them, assuming the price and quality is good.

13:24 Yeah. Is that accurate? Yep. And they they have a  lot of sources to get them and they have Yeah. You can buy them all day long. And where are they  getting them from? So they have contracts with like Costco's box trucks or Lowe's or Home Depot  and the people instead of throwing them away, the drivers make some side money by selling them  to people like this for like $15.

13:40 It's funny cuz I just got a new fridge installed and I had already  sold the old one. He was picking it up later that day, but the delivery driver was like, "Hey, what  are you doing with that fridge?" And I was like, I know what you're up to, but I've already got it  sold. So, the other day, my dad bought a [ __ ] Costco delivered it to us and I gave them all  my phone number and they text me now.

13:59 We got this fridge. We're in Park City. Do you want this  fridge or whatever? Wo. And the day the day they delivered it, they had already like six appliances  and they just dropped them off at my garage. And they charge like $20 an appliance and sometimes  they a lot of times they still work. I feel like we skipped over a pretty important part of the  story here.

14:17 Didn't you go to like a a beat up old appliance shop and start like delivering stuff for  them? Yes. Tell me about that like as a completely separate yet tangential opportunity. Tell me how  that went down. Okay, so my grandparents own some apartment complexes. They used to uh supply the  washer and dryer and ever since I was like 14, 15, I was did the maintenance with my grandpa.

14:37 So we'd go buy these cheap washers and dryers and we'd haul them and install them in my grandparents  apartments. And then one day after my mission, I went and put an ad that just said like appliance  delivery and they they don't want anything to do with the delivery side of it. And so they were  more than happy to do it. And so you just put it down there and you get a bunch of calls every  day and you charge.

14:57 I actually have one set up for today. It's an Oram, just a washer, $150.  It'll probably take me 45 minutes. You're making a delivery today? Yeah. Can I come with you?  Yeah, of course. Okay. Uh, so are you telling me, correct me if I'm wrong, no hype? If any job  in any part of the world wanted to start making money, could they just walk up and knock on the  door of an appliance supply shop and say, "Hey, do you ever need deliveries?

15:24 Do you offer  deliveries inhouse? If no, if they don't offer them in-house, is there an opportunity for  anyone with a truck and or a trailer to get paid to deliver appliances on behalf of an appliance  store?" 100%. So obviously the big box stores, they're going to have their own deliveries, but  like the mom and paw shops, they don't have like the manpower to go and deliver them, and they  don't want to do that because then it's just more liability for them.

15:47 And it's a different  business. It's a different business, and they want as many people to offer delivery because  they don't want one guy to just be jacking their customers up or no one's going to buy, okay, buy  from them. So the ones I've talked to have said, "The more the marrier. We want our customers  to have as much options as possible." So, I actually had my number at two places and during  the summer we would do used deliver a lot of fridges.

16:09 You can charge $300 for a fridge and it  still only takes an hour because you just plug the fridge in. That's the in that's the install. So,  my brother really liked that. I would pay him like $50 or $75 of the 300 and he was making a pretty  good money for a 15-year-old. Give me a ballpark percentage of mom and pop appliance stores that  don't do their own deliveries.

16:25 I would say at least at least half don't do their own deliveries.  When you first told me about this, I ran a scrape for all of the mom and pop appliance shops and  there were like 15,000 of them. Oh yeah, there's a lot. And we don't look at them because we're  not looking for them, but to think that anyone could start a business with at least half of  those just delivering their stuff for them.

16:44 Hey, anytime you sell one that needs a delivery, give  me a call. Is that is it as simple as that? Yeah, you just put your paper there. You can I mean, the  better your paper looks, more calls you'll get. If you answer your phone, then you'll get most of  the leads. No one answers their phone. [Music] Then by someone else to clean [Music] sent.  [Music] All right.

17:17 All right. Now, Kyler, you're talking about these units like I talk  about my kids. Yeah. What's so special about these ugly white things? All right. These are  the Whirlpool direct drive washer and dryer. This sounds like an ad right now. Yes. So, like the  thing is they stopped making these in like 2013. The government said they need to be more water  efficient, more power efficient or whatever.

17:44 But these things are literally made to last. Like  these are built like a Speed Queen is built, which are like $3,000 machines, but they cost like  $200. The parts have been made for like 50 years. is they made this for like 30 years straight. They  never changed anything. So, all of the parts are $30 or less all over Amazon or whatever. And they  last forever.

18:03 Easy to repair. You can look at the back on most of these. They have dates from all  the appliance shops. 2015, 2018, 2025. They just keep getting recycled over and over again. And  they will for forever. And they just last forever. Yeah. And they're easy. There's no suspension.  You open them. This thing doesn't move so it doesn't wobble ever. And they're very simple  and really easy to work on.

18:25 Okay? And they're they're fairly cheap. So 70% of the machines  are these. And even if they don't say Whirlpool, if they say Kenmore or whatever, they're all still  built by Whirlpool. Okay. So these are the ones to to get the planned obsolescence or whatever they  call that thing. Obsolescence. Yeah. Yeah. That word. Huge in the washers and dryers.

18:45 And these  new ones that I buy are made to break and they don't last very long, but these were made to  last. What is an average price for these? And what's a a really good price for these? An average  price is probably $200 for the set. For the set, $100 each. A good price would be $100 for for  both of them. Okay. And then if you're getting them warrantied, then $300 is a good a good price.

19:03 Okay. What What is this place that we're standing in? Is this like a like a washerdryer graveyard  or what? Yeah. So, this is the secondary storage at my grandparents rentals. There's a guy that  collects washers and dryers every day to scrap them. Okay. He takes pictures of them. How'd  you find him? KSL Facebook. Okay. Just said, "I'm looking for washers and dryers."

19:24 So, he sends  me pictures every day. He has a key here and then he just drops them off. And these front load ones,  I don't use these in the rental business. They're too heavy for me. So, I those always sell for $200  within a day. Okay. And then the top load ones, I either clean and rent them and I'm normally  into them like $35 on average or I take them apart to fix the ones that I already have.

19:48 Okay.  So, one 20 I paid $25 for them. One dryer can like fix probably eight dryers that I own. Okay. Uh  rather than buying the buying the parts. You just part it out. I just parted out the elements, the  thermostats, the belts, the pulleys. Okay. So, if I'm watching this right now saying, "Oh, how nice.  You have grandparents with an apartment complex, trust fun kids, silver spoon."

20:09 What would you  say to them? I I would say a I just am using my fetching what's in front of me. But second of all,  you can buy like a 10 x10 storage unit or whatever for like 80 bucks a month. Okay. There's you can  always solve it. Did your grandparents give you any business or like feed you leads or anything?  My grandparents have nothing to do with the business.

20:29 I don't have a single set rented to one  of their apartments, but they are very generous. I also uh use both of their garages are full of  washers and dryers. Haters are furious right now. They're furious. Full of them. Um I got to see  what you're delivering these things in. Would you mind showing me? To me, it's like I think a lot  of people watching like, I don't have a truck.

20:43 H I don't even have a car. Right. What they don't know  is you can go to Home Depot and rent a truck for like $25 a day. You can rent just a trailer. You  can put a hitch on a car for 250 bucks at U-Haul. Show me what you got here. Cuz you're 2 years into  this now and you still don't have a dang truck. Yeah. So, that's my biggest All my friends ask me,  "Why don't I have a truck?

21:01 I have enough money for a truck." Well, this is the setup. We're running a  Toyota Highlander, 260,000 miles on it. As you can see, it was registered in March. We're in June. We  got this. The first thing I do when I buy a car, put a hitch on it. Slap a hitch onto it. Once  again, I was given everything, right? So, my dad my dad gave me this trailer.

21:21 What is this trailer  worth? Probably five, I don't know, 1,000 bucks, maybe. Okay. 500 bucks. Must be nice. And it  can fit six machines in it. So, I always have six machines in it. We got to talk dimensions.  I have a perfect 12 shoe size. So, I'm going to tell you what the dimensions are of this. Okay.  I think it's 12 ft. But hey, no cheating. Five, seven, nine, or maybe 10.

21:43 I didn't say 10 is 10 ft  long and it fits nine units. Six units. Six. Three sets. Three, five, six. Three. 10 x 6. 10 x 5ish.  That sounds right. Okay. So, is this big enough to scale? Oh, yeah. I mean, yeah. I mean, I have  over 120 sets. This is all I've ever used. Wow. I put the fridges in here. You don't need anything  bigger than this, I don't think.

22:02 I mean, cuz this holds $320 a month worth of monthly recurring  revenue. Yeah, it can. And it doesn't look it doesn't look great. The floor is falling apart  currently. That's okay. But yeah, that's pretty rough for a trust fund kit, right? All right. So,  like what do we need to run this business? You're gonna go with a drill. You can go Ryobi. You don't  have to go Milwaukee with the drill and a pair of channel locks.

22:24 That's the only two tools you need.  We got to get everyone in the comments triggered. Ryobi is the best by far. It's the highest quality  made in America. I personally prefer the Ryobi, but I had to do this just for uh branding  purposes. Sure. Now, tell me about these. Like, what do we got going on here? Like this is the one  of the hacks, door hangers.

22:37 So I go to apartment complexes that someone already has a set. So  I logically know they're not provided. Yeah, they're not provided. I just know that. And then  I just go hang them up. So would this be like if you had a customer in an apartment complex? You're  like, "All right, I know for a fact this apartment complex does not provide them. Let's hang these  suckers up."

22:56 And it takes like an hour to hang I mean like 30 minutes to hang up 200 door apartment  complex. Okay. I say you typically get three or four leads if you do that. So, if you just do the  math, if you do that every day for a month, you could scale to 100 sets in one month if you wanted  to. Just hanging these. Just hanging door hangers. Facebook Marketplace disappears tomorrow.

23:13 We're  gonna hang these and get to 10 grand a month. Yeah. I order 10,000 of these. So, what's like a  percentage conversion rate on these? Uh, I don't know the exact number, but like I'm hoping out  of the 10,000 I'll just double my business. I'm planning on the lowest will be 1%. 10,000 I'll get  100 sets, but I think it'll be more than that plus the word of mouth.

23:31 So, let's say these are 5 cents  each. That's going to be 500 bucks. So just you're just casually I'm hoping I can spend 500 bucks a  month and go from 10 to 20 grand a month. Yeah, that's the goal. I'd say that'll do it. That's  a good ROI, huh? Yeah. Holy crap. I mean, I used to hang these as a teenager for pest control and  my boss was thrilled if we got a half a percent response rate.

23:48 You're talking about like 2 to 3%  on these. That's what I'm hoping. Yeah. But we got to know what is your churn like? What percentage  of people cancel every month? So, honestly, it's pretty good. Like I have a lot of people that  have still rented from like they've never ever given back this set and they've had it for a year  and a half. So, I have like 120 sets plus or minus and I've probably delivered 170.

24:06 Okay. 50 churned  customers in almost 2 years. That's 24 months. 50. So, you're losing two a month, which is like 1  and 12% churn. Yeah. Which is that's insane. Like, you know, that's insane. It's pretty nice. Like  10% churn is like doable. You're at 1 and a half%. Well, typically people sign their lease. It's a  one-year lease and they rent it for the whole year and then they don't they renew their lease and  then they just keep renting it.

24:29 But yeah, I mean, you get people who sign up during the middle of  their lease. They rent it for 6 months, 8 months. Sometimes they buy a set or whatever. But I mean,  that's all my whole goal was make $10,000 a month and I don't care how hard I work. Even I have to  work 40 hours a week, but so far I I don't have to do that. I work about 5 to 10 hours a week.

24:48 Beautiful. Quick question. What if there were a private community out there of people that were  building businesses based on this podcast? Well, I just made it and it's only for business starters  and business builders. It's called TK owners and it's basically like having me and a hundred other  business geniuses as your business partner. Also, there's going to be exclusive new trends,  growth hacks, business ideas, and a database of everything I've ever talked about.

25:12 You'll  find thousands of startup case studies. You'll have weekly ask me anythings with me while I'll  answer your questions directly. You can join now at tkowners.com. Link in the show notes.  All right. Once you get inside the apartment, what does your process look like? All righty. I  knock on their door. I see the layout to see if I should bring in the washer or dryer.

25:31 I tell them  it's going to be 30 minutes and then uh they can fill out the contract. So then I install both  the washer and dryer. I test them myself. Just make sure the water goes in, there's no visual  leaks. Turn on the dryer. Let it run for like 30 seconds. Then I stop it. Then I have her fill out  the contract. Make sure she understands that she's renting them.

25:50 It's not rent to own. Explain that  all the maintenance is free. There's any issues, I'll be here 2 to 3 days. tell her that I'll take  a credit card and it'll be charged automatically the 27th of every month. Okay? And then I show  her 2 minutes how to use the machines. Make sure she sees that it's all working. I try to give  her some preventative maintenance like please don't wash too many clothes like 15 or like eight  towels or five towels, 15 shirts, eight pants, whatever.

26:17 Okay. I kind of show her on the machine  or where to fill it up so she doesn't put too much clothes in. Show her the lint trap. Make sure  they know how to change that. and then take their credit card and then we're good to we're good to  go. Okay. What does your insurance look like? So, I didn't have any insurance for like 3 months, but  then I got some and it is $700 for the whole year.

26:37 So, like 60 bucks a month. Okay. Now, if you have  a 100 units outstanding, what percentage of them are going to have service calls any given month?  Uh, it definitely changes, but I would say there's typically one maybe on a bad week, two calls a  week. And a service call is the same thing as an install. It takes 30 to 45 minutes. Okay. So  let's say so let's say it's a typically one five to eight a month service calls.

26:57 Yeah. And do you  have to go for all of them or can some of them you handle over the phone? Yeah. Like a lot of them  they say, "Oh, my dryer doesn't dry." And I kind of walk them through over the phone like, "Okay,  you need to make sure the actual apartment vent is not full of lint." That happened last week.  And then they get it cleaned and then it works.

27:14 Okay. Or sometimes there's they just don't even  have the heat on or stuff like that. So if you have 120 or so units, then call like 3% are going  to get calls every month or so. Yeah. something around that. Okay, that's not so bad. The only  things I do is I install machines. I take them out when people move. That's the main reason they stop  renting is they either move.

27:28 Uh sometimes there's emergencies. And so it's just a installing them,  taking them out, and then when I take them out, I just pressure wash them and I can typically rent  them out again within 2 to 3 days. Okay. You're spending like 5 hours a week on this business, but  if you really wanted to scale it, you could work as much or as little as you want, right?

27:45 Yeah. The  other guy that does this has like 900 sets and he says he still only works two to three days a week.  So, it's definitely uh not super labor intensive. All right. You keep talking about this three-step  process. Tell me about this thing. This is the secret sauce. All right. I've broken it down. I  call it the PRB process. Step one, post it.

27:59 Okay. Step two, rent it. Okay. Step three, buy it. You  don't have that backwards. You buy it after you rent it. You buy it after you rent it. Post, rent,  buy. I mean, you just got to validate and get your first customer. I mean, it's zero risk if you  do it that way. Okay. I mean, you're supposed to say like, why would I buy it before I rent it?  I got to know that someone wants it first, right?

28:23 Exactly. All right. So, show me your system here  because what are all these profiles? Yeah. So, I have a couple different profiles. So, I can  post a couple. I see more than a couple. So, I can post different multiple uh locations and have  multiple posts. Same name on all profiles except for three of them except for Spencer Williams.  Yep. Spencer Williams is my pseudo name.

28:37 Okay. Is that an AI generated picture? No, it's a real  picture of me. Oh, that's you in the Okay. So, we can actually use his account if we want. And tell  me the logic in having multiple accounts. I mean, I like to do cuz you can change the zip code  for your posts and so I do all of Utah County and Salt Lake County. So for like Spencer, I'll  do like Mapleton, Springville, Spanish Fort and then for a different account I'll have I don't  know the algorithm.

29:00 I don't know why multiple accounts works, but like it boosts one account for  a couple days and then it's just like it's just nice to have multiple. How are you started? Do  you use different IP addresses or do you just use different email address? Just different different  email addresses. Okay. And you never get banned or blocked or anything? Nope.

29:18 And another hack is  just pay the $12 a month for the badge and then you can actually have customer support. So when  you do get banned, they will unban you. Yeah, if you spend money on ads, it helps to tell them that  as well. Okay, so I just go to marketplace. See, we've got a $50 washer and dryer. That's my first  recommended. Create listing one item.

29:34 Add photos or videos. Washers and dryers. I like to use that  one. Multiple angles, different machines, doesn't really matter. I like to use a lot of different  photos though for the title. Washer and dryer. Haven't AB tested this, but I either do washer and  dryer rental or washer and dryer for rent. Price $60 to $85. I just put the lowest 160. For the  description, I always go never go to the laundry mat again.

30:08 You're speaking to their painoint.  Yep. Rent a washer and dryer monthtomonth. free delivery, install and maintenance. Message  me or more info. Go to the zip code wherever you want to mark it. You just change wherever you  want to want to put it to. West Valley is a good area. And then list in more places. I don't know  if Spencer has groups, but on my other account, put it as many groups.

30:35 Utah County classified  has 30,000 people, 13,000. Utah County, Utah. Does it help to do that? Does that make a  big difference? Yeah, I think so. I get comments from it a lot and then you would publish it. It's  not going to let me publish this because I already have a post with that picture. But okay, that  is Let's see if I delete it. Condition used like there it is.

30:54 That's the whole description. That's  it. That's it. Sometimes I put more like keywords, but the nice thing is so the reason people are  finding this is they're typing in washer and dryer set and so they're going to get like hundreds  of washers and dryers and then all of a sudden they're going to see washer and dryer $60. They're  going to click it.

31:08 they're never seen something for rent. It breaks their pattern. It breaks it  and then they look at it and they read it and then they message me and they say, "How does that uh  work?" And then you go to your your messenger and and is being responsive the most important thing  I would say. So, yeah. If you don't respond quick, like within the same day, then they're going  to say, "Oh, actually, I found one or I decided to do something else."

31:32 But if you can get  them, they'll rent it for a year. That's how uh important it is. Um All right. So, that's rent  and then buy. We basically already covered how to buy these things. Rent it out, find your customer,  then buy it, rent it, rent, buy it. Okay. And we covered renting it out. That's just responding to  inquiries. Can you show a couple like what does an average inquiry look like?

31:50 What common questions  are people giving you? I can find one that I did last week was on my mom's account. Does your mom  care that you're shilling these? Yeah, she does. She's hates it. So, I got two messages right now.  This guy in Spanish is saying, "I am interested. What would the monthly cost be?" I will reply  in a second, but as an example, hi Kyler, is this still available?

32:11 How does it work? I hit  three times and then it just has my pre things and that's what I just do. I say, awesome. This  is just a month-to-month rental. Used sets for $60 a month. New is 85. You must rent for at least  6 months. First payment is due the day of install, free delivery, and install maintenance. I hit all  of those, and then they give me their address.

32:29 Typically, it's pretty simple. How price sensitive  are your customers? There a lot of people are happy to happy to pay. I I mean it's cheaper than  the laundry mat. More convenient. More convenient. And free delivery install. So they're I mean I've  gotten $100 tips before while I'm installing them. So it's pretty nice. Post rent buy. Post rent  buy.

32:46 All right. So I I honestly feel like we didn't leave anything out today. We covered pretty  much everything. Am I right? No. Yeah. I feel like we we did pretty good job. Okay. But just in  case there's someone out there that wants more personalized support from Kyler himself. What can  they do? Yeah. So we actually launched a school community which is going to be in the description  below.

33:02 We're going to cover more in depth of real Facebook ads, not just marketplace, the template  for the door hangers, how to set up the Stripes account, Google business account, how to build a  website with Replet, uh how to source machines, how to fix machines, how to flip machines, repair  them. It's going to go over literally everything, not leave anything out.

33:24 Like every part of the  business, there's going to be videos about it, weekly calls. And the reason I love it is because  this business can be a $500 a month business or a $30,000 a month business. And it can work in  communities as small as 10,000 people as big as like big metro places that have millions of  people. I mean, you know a guy in Salt Lake doing like 60 grand a month with this, don't you?

33:45 Yeah.  That he has 900 sets. And then didn't you help a guy in like middle of nowhere Idaho do this? Yeah.  So, one of my friends heard about the business and he tested it in Berley, Idaho, and there's only  like a couple thousand people there and he has like 25 sets rented out and he says the demand  is strong. So, really anywhere there's people, this business will work.

34:06 It's low overhead. Anyone  can do it and it's passive and there's a lot of reasons I love it. Okay. Well, check out the  community in the link below. Thanks for watching.