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Updated over 3 years ago,

User Stats

2
Posts
5
Votes
Shane Hearn
  • Investor
  • Savannah, GA
5
Votes |
2
Posts

Laundromat realestate help

Shane Hearn
  • Investor
  • Savannah, GA
Posted

Hello all, I am a 29 year old military officer who owns a few rental properties. I recently purchased a rent house in Oklahoma and the owner offered to sell me his Laundromat buis across the street from my rent house. The realestate alone is valued at $400k and he has offered to sell the buis/realestate to me for $650k. I have deep dived the financials with his CPA and it will Net 90-100k per year. The only catch is that the machines are 18 years old and it concerns me I can only keep those things alive for so long. Any tips or suggestions would be great. 

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