Next large investment: Car Wash or Storage Unit facility?

[Juan V Lopez]

If your desired next investment was either a car wash or storage unit facility, which would you choose and why?

1. • Build automatic car wash from scratch
   • Buy old car wash, renovate & stabilize
   • Build storage facility from scratch
   • Buy old storage facility, renovate & stabilize
   

My wife + I own a few businesses & rentals and are looking to move into a much more passive business with our next large investment. 2 lanes we've fixated on are storage units and car washes.

Our high-level criteria:
• Own the real estate
• As low maintenance as possible
• Lower west coast (California, Nevada, Arizona, Idaho, Utah, etc)
• Desirable asset when we decide to exit

I'm just looking for input from the community and perhaps opinions from those experienced in these areas. TIA BP fam! ✌

[Nathan Gesner]

@Juan V Lopez It's almost always cheaper to buy something existing than to build new. There are a ton of mom-and-pop storage facilities around the country. Find someone that's interested in selling below market value, just like you would with a residential investment. I was cold-calling storage facilities in my town. Six months later, I bought one that is cashflowing better than ten of my residential rentals combined.