Laundromat or Gas station for an absentee owner? Which one.....

[Katie Johnson]

Hello members! I have a question in which I need some advice about. I am considering entering into the investment world but I see that New York real estate properties may be too "rich for my blood" at this time. While shopping around for businesses for sale I see that laundromats and/or gas stations have a smaller investment margin with more of a Cashflow. Would you consider investing in 1 or more of these real estate businesses? What are some pitfalls that I should look out for before making an offer? Thanks for all of your advise on this matter, I look forward to hearing from seasoned investors about this! Best

[Thomas S.]

I would strongly advise against anyone considering beginning a new business as a absentee owner. There as so many things that can go wrong when you are not involved on a daily bases it is a recipe for disaster. You can not trust employees you do not personally manage when you have no background in the business.

Operating a business takes years to properly master and can not be done from a distance by a novice. If you want to be successful you must commit.