laundromat as a investment
Has anyone ever purchase a property with a laundromat in it. If so how was your experience I'm looking into purchasing a property with a laundromat as a investment. Just wanted to know if anybody has done it before.
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I'm a commercial real estate agent in Los Angeles and one of my good clients started by purchasing a property with a laundromat in it. Now all he invests in are properties with laundromats (even larger strip centers). He's moved onto development. Heck, even one of the biggest investors in South LA started out by purchasing a property with a laundromat. He opened a pizza shop next door because he knew customers would be hungry and he went on to open a chain of pizza shops all along LA because the concept worked so well. Of course LA is different than New York, but I thought I'd share about two success stories I've seen with individuals purchasing laundromats in them.