special purpose real estate

[Jesse Barahona]

anybody here invested in special real estate ? primarily laundromat or dry cleaners or anything similar to that nature. do you only rent out the space or are active in the business yourself ? how is the experience ? cost to startup or reno ? I see a lot of potential in a laundry rehab where I'm from I just want to get more insight in the business. anything is appreciated thank you !

[Walid M.]

Hi Jesse, I've never executed an investment in that sort of real estate.  However have looked at some properties which were occupied or near dry cleaners.  One thing to be aware of when acquiring this type of property is the risk of environmental contamination of the property by chlorinated solvents.  If buying an existing property (currently occupied or previously occupied by a Dry Cleaner) you should definitely evaluate the existing risk and make sure any mitigation is factored in your offer.