Im looking to making an offer on a small 4 bay wash in my state. problem for me is that its 2plus hours away from me distance-wise. My background is in residential Real-estate but i'd love to diversify and have always wanted a carwash on my books.
Just based on Distance alone is it worth buying if its that far away from home? listing agent says there is part time "paid" help managing wash currently (someone closer to site) and if i purchased my intention is to physically be there 2 to 3 times a week. fyi If it were closer, i'd be there almost daily especially during the winter months and after its snows just to check on things. I won't be able to do this "right away" due to the fact that i'd be servicing current inventory directly local to me and won't get to the wash until all that is done.
Location is in IL. without giving out too much info, asking $$ is under 100k . R.O.I based on that is up to 14% per annum.
I'd appreciate any and all input.
Thanks
Just based on Distance alone is it worth buying if its that far away from home? listing agent says there is part time "paid" help managing wash currently (someone closer to site) and if i purchased my intention is to physically be there 2 to 3 times a week. fyi If it were closer, i'd be there almost daily especially during the winter months and after its snows just to check on things. I won't be able to do this "right away" due to the fact that i'd be servicing current inventory directly local to me and won't get to the wash until all that is done.
Location is in IL. without giving out too much info, asking $$ is under 100k . R.O.I based on that is up to 14% per annum.
I'd appreciate any and all input.
Thanks
