At 22, most people only dream of living a life like Hannah Ingram (@hannah_ingram_ on TikTok). In 2021, Ingram went viral for sharing how much she makes in passive income from her car wash business. The Maserati driving kid has shared several videos on TikTok showing off her collections from the business.
Here's how Ingram established her passive income stream
Ingram first went viral for showing behind the scenes of her car wash. In the video, which has over 45 million views, Ingram wrote, "I bought a car wash at 22 years old" in the overlay text. She then shows the collection of one of her largest vacuums. She found the coin tray to be overflowing as she opened the box. Ingram could be seen carrying around a bucket in which she dumped all the coins.
She then collects coins from the other vacuums, and car freshener dispenser as well. She opens her dollar bill collector which is also stacked with money. Ingram turns to three buckets full of coins and a bag full of cash before going to deposit all the money.
Read also:Eileen Fisher Net Worth A Journey Through Fashion And Fortune
The counting machines kept going beyond $450 for coins. At the end, she shows a staff filling up bags with the coins she had brought. While Ingram left the viewers hanging without revealing the grand total, she told Business Insider that in a month in 2021, she made over $5,500 in profit.
In one of her articles, Ingram shared how she bought the carwash with $0 down.
"I paid an attorney $400 to draw up a contract that said I would cover the monthly mortgage payments on the existing car wash loan, as well as the income taxes, property taxes and utility bills. After making these monthly payments, I would keep all of the profits. If I failed to pay, the sellers would take the property back. In May 2021, I closed on the car wash, but I didn’t have to start paying bills until June. I acted as the real estate agent on the sale, so the sellers covered the sale costs (about $4,000) instead of paying me a commission. I started making money immediately with $0 down."
Her strategy includes cold-calls or writing to businesses to see if they are interested in selling. She also drives around the businesses to take an account of the properties. She said the carwash she bought was already running and profitable, and Ingram only switched their advertising from radio to social media to reach a wider audience.
Viewers of her viral video were shocked to see how much the young entrepreneur made. "Bro I'm buying a car wash rn," wrote one user @mallardduck. "This didn’t need a part 2, but ok," exclaimed another user @ninatnav.
Several others compared her to "Walter White", the famous character of the show "Breaking Bad" who had a car wash as a front for his illegal businesses.
Read also:Discovering The World Of Mkpoint Movies A Cinematic Journey
Meanwhile, some also wondered how much would be the running costs of the car wash that Ingram owns. "Ok but the water bills need to be big," suggested one user @juelvs.
Ingram addressed the question in her piece with BI where she said her water bills usually cost between $350 and $500 a month as she has taken measures to be efficient. However, she said she gets happy to see a larger bill as it means that the car wash did good business.
For more updates and informative content, follow Hannah Ingram (@hannah_ingram_) on TikTok.
This article originally appeared 2 months ago.
