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I’m under contract to purchase an existing car wash in Illinois. I’m an experienced real estate investor and rehabber, and I have experience working with equipment and the general public, so I’m confident that I’ll be able to operate the place if the deal closes. I’m comfortable with...

That's a good start! Everyone in business should read Economics in One Lesson by Henry Hazlett. It's priceless, and a very easy (and short) read. A high school freshman can understand economics after reading this book. Then, as soon as Obama comes out with his next "Plan" to "help" us...

Before you spend time on costs & income, make sure you have zoning, or at least a half of chance at getting it. The property I was looking at was zoned correctly, but I needed a "conditional use permit" to have a storage facility. Literally one little old lady, a neighbor, objected and the...

First figure out what the land would sell for - find actual sales, not listings - then figure out what the buyer's cost would be if he financed the purchase. I would use an interest rate of say 7%. So if the land would sell for $100k, his finance costs would $7k, plus taxes. Divide that by 12...

I considered this as well, but simply went to a movie first to see what the ads looked like, and yes, most of the ads were playing to an empty room. What I ended up doing was getting an ad in a flyer that advertises the schedule for the next month. The cost was much less, (never accept the...