First purchase California we are lost please help

[Rob79]

Hi me and my brother are buying a full service wash in California which is 10 years old with real estate..here are some details and need your help and resources to make sure we are making good purchasing decision..Wash is full service 100 foot tunnel, 2 year old conveyer belt, 1 acre real estate, average 300 cars per day ,total employees 40 including 3 managers..asking 4.5 mil...is located on a busy street in a town with population of 175000 and high per capita income, broker also told us loan is preapproved at 25 years with 20 percent down at 5.25 percent gross.Our CPA looked at numbers and said they look good so we did a site visit on a saturday so far and saw on average 60 cars in 2 hours. I need your help what should we do next we plan to visit on tue again for the whole day, how can we check to make sure the numbers are right, how is the condition of the equipment what do we need to be looking at and asking price how accurate that is completely lost..any help advice will be apprecited...the town has other express washes but there are only two fullservice and this one is the most known and busy..please help..

 

[BrianPaz]

If you are still seeking assistance, please let me know.

 

[MEP001]

If you are still seeking assistance, please let me know.

You might want to provide some background for yourself since this is your first post and you're already offering yourself as something.

 

[AVP20]

Rob how are things going with the transaction? Did you end up making the deal or passing on it? I too are in negotiation on my first full service car wash in California, maybe we can bounce ideas off as we are close to making a deal. The deal we are looking at is in a city with population of 120,000 people and the deal is with real estate but new building & equipment with only a 1 1/2 year of financials.