Next Project Wash....

[Rfreeman]

Well I didn't want APW to have all the fun with his remodel so I bought another wash. This one is located 5 mins from my latest wash and has been closed down for years. The owner started remodeling it then got sick with some complications and the place never opened back up. He already put a new roof on it and has all new equipment in the container onsite.

 

[DiamondWash]

Are you going to keep it all S.S

 

[mgmtoo]

Good luck.

 

[Rfreeman]

Are you going to keep it all S.S

I think the market would do good with an automatic but right now the plan is to keep it all self-serve. The property next door is a house that was converted to an office. I know the Bank of New York Mellon owns it, meaning its been foreclosed, so I am hoping that it will hit the market soon and I can buy that to either expand the ss or do stand alone auto there.

 

[Rfreeman]

Good luck.

Thanks! The owner said it was pretty busy little location when it was up and running, let's just hope I can restore it to its old glory day$$$$

 

[soonermajic]

So you have already bought it?

 

[Rfreeman]

Yes sir closed today. I'm sure your son that works in the area knows more or less where this wash is. Being so close to the other one I had to pull the trigger on it. Took some time to track down the owner but finally found them.

 

[soonermajic]

Cool. Good luck
They're both moving a lil ways, for new fireman jobs, but still in Metroplex

 

[APW]

Awesome. Congrats!

 

[Waxman]

If it were me, I'd make the SS bay next to the e.r. the automatic bay and do something else with the other property like rent it out etc. You'd make so much more with the auto that you'd never miss the wand bay I bet. Plus save alot of $$$.

 

[Rfreeman]

If it were me, I'd make the SS bay next to the e.r. the automatic bay and do something else with the other property like rent it out etc. You'd make so much more with the auto that you'd never miss the wand bay I bet. Plus save alot of $$$.

My first wash is a 5 ss+ 1 auto so I know there is good potential in an IBA and still not ruling converting a bay but right now it will be cheaper and quicker to get this wash up as a ss only.

With regard to the other property if I can buy it renting it out as is won't fetch much because a.) the market isn't the best if you know what I mean b.) this is a repurposed property. Originally built as a house then converted to an office therefore it can't command premium rent potential c.) land to building ratio presents a problem as well.

 

[Rfreeman]

Well picked up the refurb project pump stand today. Should clean up nice for the new wash.