How can a simple pressure washing business make you six figures of income a year? With a startup cost of only a couple hundred dollars, today’s guest Chris expanded his pressure washing, Christmas light-hanging, gutter-cleaning operation into a profitable business with multiple employees and a stacked schedule. But, as Chris has started to expand, he’s seen his personal profits decline, so should he outsource less so he can keep more of the revenue he’s working hard to bring in?

Welcome back to another Finance Friday episode, where we talk to Chris, a twenty-six-year-old entrepreneur learning to navigate profits, payroll, customer acquisition, and more in his pressure washing business. Chris found an interesting niche to serve; older communities in his home state of California. He’s been able to build a brand, grow his business, and have a Rolodex full of repeat clients, but he still doesn’t know the best way to scale. Not only that, Chris also started investing in real estate, with a cash-flowing house hack allowing him to eliminate his housing costs.

Chris wants to know the best way to expand his business while still retaining his high margins, what type of healthcare plan he should be on now that he’s twenty-six, when he should look to buy another house hack, and how to keep investing. Chris is on a bright path already, but with a few tweaks, he could be financially free in only a few more years!

00:00 Intro
04:06 Income, Expenses, Assets and Liabilities
06:30 Building a Six-Figure Business
13:44 Getting to $1,000,000
20:47 Reaching More Customers
26:21 Building a House Hack Stack
38:44 Healthcare and HSAs
45:37 Action Items

Show Notes at:
https://www.biggerpockets.com/blog/money-370?utm_source=youtube&utm_medium=description&utm_campaign=none
~~~~
Join the BiggerPockets Money Facebook Group:
https://www.facebook.com/groups/bpmoney
~~~~
Find an Investor-Friendly Agent in Your Area:
https://www.biggerpockets.com/agent/match?utm_source=owned_media
~~~~
Building a Massively Profitable Business Around Your Passions:
https://www.biggerpockets.com/blog/biggerpockets-business-62-alex-french?utm_source=youtube&utm_medium=description&utm_campaign=none
~~~~
How to Outsource Your Way to Multiple Streams of Income:
https://www.biggerpockets.com/blog/outsource-streams-income?utm_source=youtube&utm_medium=description&utm_campaign=none
~~~~
House Hacking 101—What It Is and How to Get Started:
https://www.biggerpockets.com/real-estate-investing/house-hacking-strategy?utm_source=youtube&utm_medium=description&utm_campaign=none
~~~~
HSA – The Ultimate Retirement Account in 2022:
https://www.madfientist.com/ultimate-retirement-account/
~~~~
Want to Be a Guest on the BiggerPockets Money Show? Apply Here:
Guests: https://www.biggerpockets.com/guest?utm_source=youtube&utm_medium=description&utm_campaign=none
Finance Friday: https://www.biggerpockets.com/financereview?utm_source=youtube&utm_medium=description&utm_campaign=none
~~~~
Connect with Scott and Mindy on BiggerPockets:
Scott: https://www.biggerpockets.com/users/scotttrench?utm_source=youtube&utm_medium=description&utm_campaign=none
Mindy: https://www.biggerpockets.com/users/mindyjensen?utm_source=youtube&utm_medium=description&utm_campaign=none

Episode 370