All Forum Posts by: Barbara Sheppard

Hi @Justin Ball!  I came across an abandoned multi-bay self-service car wash and found myself thinking about...opportunities.

Also, as someone who recently moved into an apartment (from a single family house), it has been challenging for me to use self-serve car washes because they do not allow buckets during the wash and the clock is ticking with regard to your service time.  I would love to be able to hand wash my own car at a self-service car wash.

I did find these resources for you to check out regarding repurposing car wash bays:

Alternative Uses for SS Car Wash Building | Car Wash Forum

A creative adaptive reuse for a former eastside car wash | Anderson Management Company (amcwichita.com)

9 Ideas to Transform an Old Car Wash Bay (superiorcarwashsupply.com)

I hope these are helpful!

Hello @Timothy Harbison!  I am a real estate investor new to investing in Peoria.  Happy to have found your post and I am looking forward to connecting with you and other investors in Peoria.  I plan to acquire my first single family property this month!

Thank you!

Thank you for your comment, @Bruce Woodruff. Very helpful for me, another new REI who is recovering from analysis paralysis and seeking a real estate opportunity. This simple, straight-forward approach to getting in the game resonates with me personally. I will refer to this to help me stay big-picture focused initially. Most appreciated!

Thank you, @Mike Paolucci!  Will do.

Hi @Stanley Smeltzer.  I don't have any investor contacts there, but I have family in Melbourne, FL (I live in Maryland).  Melbourne is a very lovely area, which you will find to be true if/once you start spending time there (the zoo is amazing!).  Wishing you the best!

Thank you, @Mike Paolucci, for your comment.  Very helpful advice about building your team first.  I am exploring now for the best investing opportunity (my first investment), either in-state and out.  This is helpful once I narrow down to a desired market.

Thank you!

@Russell Brazil, thank you for providing the information and contact for a local Baltimore bank!

@Joe Homs, thank you very much for your response.  The information you shared is indeed helpful and has given me ideas on how to approach the team (active partners).  The partnership agreement that is currently in place is rather vague with regard to roles and rights of the silent partner, however, I see that support/input may be helpful.  Perhaps now may be an ideal time to consider an amendment to the agreement, before proceeding further.

Thank you!

The role of the silent partner is primarily providing capital for funding a deal.  Does the silent partner have any other rights in the deal?  For example, if the deal is experiencing "challenges" (i.e. management, financing, construction) does the silent partner have the right to get more involved to help work through the issues?

I would appreciate hearing examples of how you, as a silent partner, stepped in to support a deal.

Thank you!

Thank you for the heads up @Jim K.!