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Search resuls for: "Hannah Ingram"


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☆ 24-year-old earns $5,450/month in passive income from a car wash she bought for $0 down: 'I only work on it 20 minutes a day'
  + stars: | 2023-05-01 | by ( Hannah Ingram | ) www.cnbc.com   time to read: +1 min
While struggling to make ends meet, I read about the power of passive income. Now, at 24, I earn an average of $5,450 a month in passive income off my car wash business, after $1,500 to $2,000 of monthly expenses. Buying a car wash business with just $2,000 in the bankWhen I purchased my business, I hardly had any credit history and only $2,000 in savings. In May 2021, I closed on the car wash, but I didn't have to start paying bills until June. Earning passive income from a self-service car wash
☆ I bought a car wash at 22 years old. It basically runs itself — and I make $5,500 in passive income each month.
  + stars: | 2023-02-16 | by ( Jenna Gyimesi | ) www.businessinsider.com   time to read: +7 min
This as-told-to essay is based on a conversation with Hannah Ingram, a 23-year-old car wash owner based in Tennessee. I decided to buy a coin-operated car wash in Tennessee years later because I was looking for a passive income stream. The car wash I bought was already running and profitable when I bought it. I tell people to buy a car wash, not build one, because odds are good that an existing car wash already has a healthy amount of business. It can be a dirty job, so I don't recommend buying a car wash if you aren't willing to basically act as a janitor sometimes.
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