Laundromat and liquor store project

[Clint Rasberry]

Investment Info:

Other commercial investment investment.

Purchase price: $28,000
Cash invested: $28,000

6.5 acres with 1600 sqft block building that needs complete remodeling. Plan is to turn the building into a laundromat and liquor store. Nearest competition is over 15 miles away. On the surrounding property I will be installing camper lots.

What made you interested in investing in this type of deal?

Location and lack of services in the area.

How did you find this deal and how did you negotiate it?

Word of mouth

How did you finance this deal?

Cash

How did you add value to the deal?

Remodeling

What was the outcome?

Not complete

Lessons learned? Challenges?

Lots to go.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No