👑 The $10M Side Hustle King

Read time: 5 minutes

Good morning! It's Tuesday, March 26th. Today, we're looking at the entrepreneur who is making millions from overlooked assets like laundromats and vending machines!

THE FEATURE

The $10M Side Hustle King

Buckle up for a rags-to-riches story!

When Brandon Schlicter was 6, his family was evicted from their home, and by age 18, his father died of a heart attack.

Coming from poverty, college wasn't in Schlicter's cards. Instead, he got a minimum wage job at a warehouse, scraping and saving until he could edge his way into the real estate market.

Today, Schlicter's portfolio of real estate properties, car washes, and laundromats is valued at $10M+ and generates several million dollars a year—let's break down how it works.

So, What's the Business?

It's super easy to track Schlicter's success over time. He's consistently uploaded updates on his properties to YouTube since the start of his investment journey.

Those updates cover the good, the bad, and the ugly— like how his one laundromat made him $130K or the second time a tenant set his rental property on fire. 

Rental Properties

After working at a warehouse, Schlicter got his real estate license in 2008… just in time for the mortgage crisis. 

As a result, he primarily worked in foreclosures. That experience taught him the ins and outs of the industry and gave him an investment thesis: purchase relatively rundown properties, repair them at minimum costs, and rent them out.

He executed that plan in 2013 when some of his former real estate clients became fresh millionaires after Bitcoin's first surge. These Bitcoin millionaires were his first investors, and he purchased two properties for $90K in total with gross rents of $1,650 (a ~20% rental yield). 

With proof of concept, his investors were happy to stick with him, and five years later, he grew the rental portfolio to 90 units. In 2021, that figure rose to 140!

Laundromats

Schlicter began purchasing laundromats in 2019 and now has three locations. He spent $85K to buy the first location, and each of his laundromats generates around $100K a year. 

Not all laundromats are gold mines, but they can be if you do it right. As a real estate agent, he got a peek behind the curtain at how businesses generate revenue, and he realized how important ancillary services are. 

Schlicter's ancillary services, such as quarter pushers, arcade machines, ATMs, etc., can sometimes generate more cash flow each month than his actual washers and dryers. For instance, his quarter pusher makes nearly $1,500 a month alone. 

To top it all off, Schlicter reportedly only spends 1 hour a week managing his laundromats. 

Everything else: 

Rental properties and laundromats are what Schliter is best known for, but he has multiple other revenue streams, each with a unique investment approach: 

• Trailer parks

• Carwashes 

• Storage units 

• Solar farm (in the works)

The Innovation: Side Hustles= Content Farms

By uploading inside looks into his investment cashflow 1-2X a month for nearly a decade, Schlicter has built a 1.79M subscriber base on YouTube, 160K on Instagram, and 385K on Facebook.

In 2022, he generated $200K from YouTube. While that's a hefty sum, these social media channels primarily funnel his subscribers toward his paid courses. His main course, Laundromat Boot Camp, costs $24.97 and gives access to 20 video lessons. 

Schlicter is an example of how entrepreneurs, not just influencers, can leverage social media to their advantage, even when it's not the core of their business. 

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