All Forum Posts by: Justin Ball

We have 10+ self service car washes/auto bays with no subscription services (some closed, some active, some partially active) for sale in our region and I am looking to find alternative uses for investors interested in the properties.  Does anyone have profitable ideas for utilizing former car washes as investments?  The subscription service based washes have basically rendered these businesses not viable. Thanks in advance - Justin - Peoria, Illinois

I'm helping a client who is interested in purchasing a car wash in Central Illinois (Peoria).  Has anyone bought or sold a Midwest car wash recently who could share the EBITDA multiplier that it was valued and/or sold at?   We don't have much post-pandemic data in our region. 

Thanks in advance! 

I'll send you a PM.  I help my out of state investors with a variety of resources, from recommendations and introductions to property managers, contractors, lenders and everyone else you need to be successful investing in the Greater Peoria area. 

I work with a local property manager that I am happy to refer you to.  I do not get a 1099-MISC from them, but a series of reports (cash register, P&L, annual summary) that my accountant uses to file my Schedule E's from my personal taxes.

Justin Ball - 309-256-1576, [email protected]

Hey Trent, welcome to Peoria. I work at Bradley University and also invest in real estate, so you can always drop me a PM if you have Peoria area real estate questions. I've helped a few investors with their first investments properties as well as a few young professionals doing house hacking.

Justin

Thanks, Barbee, I appreciate it and am doing more research on both. 

I already own a few rental properties and have been interested in diversifying my portfolio with a business. I am looking for ideas that are not owner-operated businesses that I should be watching for/having my commercial real estate agent watch for. I thought that a car wash may be a good opportunity and then found out just how much the owner was also an operator in most cases after talking to a few owners. Other than small commercial real estate does anyone have ideas or investments that I should watch for that are like passive income businesses?  I didn't get anything other than one response in the New Member area when I posted this so I'm moving it to the EL forum.

Thanks!

Justin 

I already own a few rental properties and have been interested in diversifying my portfolio with a business.  I am looking for ideas that are not owner-operated businesses that I should be watching for/having my commercial real estate agent watch for.  I thought that a car wash may be a good opportunity and then found out just how much the owner was also an operator in most cases after talking to a few owners.  Other than small commercial real estate does anyone have ideas or investments that I should watch for that are like passive income businesses? 

Thanks!

Justin