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Updated almost 5 years ago,

User Stats

32
Posts
19
Votes
Sara Peak
Pro Member
  • Investor
  • Louisville, KY
19
Votes |
32
Posts

Purchase a car wash? Advice needed

Sara Peak
Pro Member
  • Investor
  • Louisville, KY
Posted

I am looking at purchasing a car wash. I am overwhelmed a bit with the thought considering it would be a new investment for me (currently one SFH rental and 1 mulit family 6 unit apartment). However, I am very interested in the car wash and am trying to obtain any info/advice/consideration regarding the potential investment.

Has anyone purchased a car wash?

Is it typical to assume about 50% of gross income in expenses? This currently has two employees.

What is a "good" cap rate for a car wash?

Is this still considered passive for tax purposes as long as I don't manage the day to day operations of the wash?

What do others think of the future of car washing? While it varies seasonably, I also assume it varies during economic cycles.

Any thoughts welcome.

Sara

  • Sara Peak
  • Loading replies...