Minneapolis area Coin Op Laundry Service for apartment

General Landlording & Rental Properties
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Minneapolis area Coin Op Laundry Service for apartment

Adam Widdicombe
Investor · Farmington, MN · Member since 2017 · 57 posts · 26 votes

Hello,

I am in the process of purchasing a 7 unit building that has some old laundry machines in it. The property is in the southwest metro(New Prague) and I would like to replace them. I was thinking of doing it myself, but would be interested in hearing if there are any decent companies that would provide the machines and do the coin collecting. 

Thanks in advance!

Adam

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Amber Gonion
Real Estate Broker · Hugo, MN · Member since 2016 · 688 posts · 596 votes
8y
I would 100% recommend doing this yourself vs. using a company. I have worked with companies such as coinmach and bds in the past and I have had many, many issues. It was very difficult to get maintenance performed on the machines and also was difficult to get the laundry equipment companies to send out our checks on a regular basis. Additionally you end up losing money due to the fees they charge for their services.
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  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    8y

    I just bought a new dryer. through Lowes for $1000. We just collect the money as it's no effort.

    Why do you want to replace them and have someone else operate them?

    [email protected]512-888-9122
    The Moorhead Team5140 Reviews
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    2Reply
  • Adam Widdicombe
    OP
    Investor · Farmington, MN · Member since 2017 · 57 posts · 26 votes
    8y

    I will send you a PM

    0Reply
  • John Woodrich
    Flipper/Rehabber · Minneapolis, MN · Member since 2016 · 1k+ posts · 1k+ votes
    8y

    At the MN Multi-housing convention a couple months ago I am pretty sure there was a company there that had an arrangement like this.  I believe they also leased this equipment but after a quick look I couldn't find their name.

    I would also be interested in the reason for not wanting to do this on your own, can you message me if you want to remain confidential?  It gives us a good reason to complete a check-up on the property and our nephew an exciting time looking for possible collectible coins.

    1Reply
  • Amber Gonion
    Real Estate Broker · Hugo, MN · Member since 2016 · 688 posts · 596 votes
    8y
    I would 100% recommend doing this yourself vs. using a company. I have worked with companies such as coinmach and bds in the past and I have had many, many issues. It was very difficult to get maintenance performed on the machines and also was difficult to get the laundry equipment companies to send out our checks on a regular basis. Additionally you end up losing money due to the fees they charge for their services.
    3Reply
  • Adam Widdicombe
    OP
    Investor · Farmington, MN · Member since 2017 · 57 posts · 26 votes
    8y

    @John Woodrich

    I had talked with a friend and he was thinking of doing it this way...it sounded semi appealing. 

    After more thought and research I am just going to purchase the machines and doing them on my own. 

    Thank you for the reply!

    0Reply
  • Tim SwierczekPro Member
    Lender · White Bear Township, MN · Member since 2016 · 1k+ posts · 1k+ votes
    8y

    @Amber Gonion did you have any experience with Coinmatch'es app-based payment system?  The technology seems sweet.  https://www.coinmach.com/our-technology/

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