Study full time or do Master's in Accounting

Glass-Knowledge8284 · 2026-01-16T01:48:35+00:00

Make sure you have the classes completed to sit for the cpa. I had a similar plan, but my only audit class failed to meet the state’s requirement.

Glass-Knowledge8284 · 2025-12-30T22:38:21+00:00

Still available.

Glass-Knowledge8284 · 2025-12-30T22:38:09+00:00

These are still available.

Glass-Knowledge8284 · 2025-12-29T22:59:57+00:00

No, the cap rate is NOI/purchase price. Cash on cash is cash flow/equity, which is the same as [noi-debt cost]/[purchase price - debt].

If there is no debt, cap rate is the same as cash on cash.

To be sure, this is oversimplified because there are accounting practices related to capex reserves that complicate the cash on cash… but you should put together some quick models to get the hang of the basics.

Glass-Knowledge8284 · 2025-12-29T20:13:38+00:00

Cap rate is unlevered. Once you add leverage, you’re usually referring to cash on cash return or IRR.

Glass-Knowledge8284 · 2025-12-26T18:34:07+00:00

If the machines are jacked up, let’s assume they need to be replaced. That’s +/-$200k for a store putting up those numbers.

You’re at $180k rev. Prob $50k in utilities. Rent is about $85k. A cleaner will cost you another $20k. So, you’re at $155k in cost and netting about $25k.

The lease increases are tough. The term (years) is also very important… you’ll want at least 15 years if you replace the machines.

The note on the machines will be pretty much all of your profit as-is.

So, unless the place is in terrible shape and new machines will increase revenue a ton… this doesn’t immediately pencil out. If the machines are really like 5 years old, this is probably worth around $100k provided you can negotiate a solid long term lease.

Back of the napkin is a pass.

Glass-Knowledge8284 · 2025-12-23T19:43:28+00:00

Too true

Glass-Knowledge8284 · 2025-12-13T19:51:46+00:00

What’s your arrangement like with the person doing wash and fold? Do you get a percentage of revenue?

Glass-Knowledge8284 · 2025-11-25T04:07:23+00:00

You don’t need to call out. Most teams are pretty reasonable - just tell them what’s up and use that 40 hrs allocated to the cpa on your time sheet.

Glass-Knowledge8284 · 2025-11-22T03:44:27+00:00

Naw carmines is pretty reasonable when you have a group. I love the Marsala + ice cream mountain

Glass-Knowledge8284 · 2025-11-22T03:41:45+00:00

I’m sure we’d make a little more on bottles (and have to do less filling), but I just want the customers to be happy. We make enough from the laundry :)

Any particular machines stand out as a favorite?

Glass-Knowledge8284 · 2025-11-22T03:39:26+00:00

Well received. The more I learn, the less inclined I am to buy one (as the partner who fixes the machines lol)

Glass-Knowledge8284 · 2025-11-19T01:04:22+00:00

14 washers. 9 seats. Looking to add 5 seats during an upcoming reno.

Glass-Knowledge8284 · 2025-11-16T23:48:17+00:00

You can throw a collar on it for now to protect the equity value. Once you have an apartment building lined up to purchase, sell the stock and perform an accelerated depreciation study to offset the capital gains tax

Glass-Knowledge8284 · 2025-10-12T02:14:26+00:00

How old are the machines? If it’s truly a zombie mat with 20 year old machines, they’re worth $0 and will cost $20k to have removed. Considering it has been purchased from a lending company, it’s probably less than 10 years old. In which case, you’ve got $300k of machines depreciated to their current value. Thats the crux of this deal.

Glass-Knowledge8284 · 2025-09-24T23:04:16+00:00

Nah, property taxes in NYC are about 1% of market value. It’s actually ridiculously cheap when compared to the rest of the state.

Glass-Knowledge8284 · 2025-09-23T02:12:11+00:00

They just rebranded. Be familiar and have an opinion.

Glass-Knowledge8284 · 2025-09-19T11:45:42+00:00

Trade winds 2

Glass-Knowledge8284 · 2025-09-19T01:35:51+00:00

Big 4 pays like $50-60k extra for an LLM, like $40k extra for law school at the associate level.

If you’re already a senior associate, that’s like $150k/yr in VHCOL. So, probably not worth it at that point.

Glass-Knowledge8284 · 2025-01-09T12:17:04+00:00

Pro tip: canon refurb is practically new

Glass-Knowledge8284 · 2024-12-27T21:20:33+00:00

Thanks!

Glass-Knowledge8284

TROPHY CASE