All Forum Posts by: Nathan Smith

@William Boyce I did that but only saw a couple groups.  Didn't see the masterminds group.  I will check again.

Can anyone recommend a few good Investing Meetups in Austin (multifamily, etc..)?

Hi @Christine Newton  Can you recommend where to find the pre-foreclosure list, tax delinquent list or code violations, and absentee landlords?

Also, what local meetups do you recommend?

I've helped others buy and lease CRE for a long time however now it's time for my wife and I to buy our own portfolio. The Austin market is really high right now so it's a bit more challenging these days to find those 20% return deals.

I may have to look at other markets.

Thanks for the feedback Joel.  I have not committed to buying it at this point.  The opportunity was just presented to me so I am gathering the details to review which I posted.  I have never owned an self service carwash however I know a few people that own some and they say it's a relatively passive investment so that is why I am looking into it.

The total asking price is $1,000,000 which includes the land, building, equipment, etc.  There is no lease.

According to the owner he only visits the property once or twice a week to pick up the $$.  Cleaning and maintenance he contracts out when needed.    There are no employees.

Here are the expenses for 2016.  It's all self service so no employees.  Could probably reduce the amount on a few.  Would need to dig into what he spent 7200 on advertising

Tim from what I understand roughly 30% to 40% of a car wash value is from the equipment.

HI Tim, That is good to know.  I will look into it more.

The one I found for sale has the following numbers:  2016 sales were $225,000. Net profit is $116,000. Asking price is $1,000,000

Below are a few of the details about the facility

6 Gin San Self Serve Bays with new electric drying system

1 Automatic Drive thru Laser wash 4000-REBUILT

Wash Select II Auto Teller with cash/credit card acceptance

Standard Change Maker dual change machine

Gin San Reverse Osmosis “Spot Free” machine

Water softners with 2 alternating tanks for production and delivery

Air Compressor

6 vacuums,( 3 regular, 2 fragrance combo, 1 carpet shampoo

6 drop shelf vendors for product purchases

Compaq PC for credit card processing

ScanCoin Currency counter

Semacon Coin Counter

16 channel DVR plus 9 cameras with remote viewing capability

Honda Power washer

Full supply of tools, ladders, etc

Inventory of spare parts and chemicals,Roadside Marque sign

I'm looking at buying a car wash and would love to get some feedback and comments to help make my decision.

2016 sales were $225,000. Net profit is $116,000. Asking price is $1,000,000

Below are a few of the details about the facility

6 Gin San Self Serve Bays with new electric drying system

1 Automatic Drive thru Laser wash 4000-REBUILT

Wash Select II Auto Teller with cash/credit card acceptance

Standard Change Maker dual change machine

Gin San Reverse Osmosis “Spot Free” machine

Water softners with 2 alternating tanks for production and delivery

Air Compressor

6 vacuums,( 3 regular, 2 fragrance combo, 1 carpet shampoo

6 drop shelf vendors for product purchases

Compaq PC for credit card processing

ScanCoin Currency counter

Semacon Coin Counter

16 channel DVR plus 9 cameras with remote viewing capability

Honda Power washer

Full supply of tools, ladders, etc

Inventory of spare parts and chemicals,Roadside Marque sign

Hi Everyone,

I'm looking at buying a car wash and would love to get some feedback and comments to help make my decision.   

2016 sales were $225,000.  Net profit is $116,000. Asking price is $1,000,000

  Below are a few of the details about the facility

6 Gin San Self Serve Bays with new electric drying system

1 Automatic Drive thru Laser wash 4000-REBUILT

Wash Select II Auto Teller with cash/credit card acceptance

Standard Change Maker dual change machine

Gin San Reverse Osmosis “Spot Free” machine

Water softners with 2 alternating tanks for production and delivery

Air Compressor

6 vacuums,( 3 regular, 2 fragrance combo, 1 carpet shampoo

6 drop shelf vendors for product purchases

Compaq PC for credit card processing

ScanCoin Currency counter

Semacon Coin Counter

16 channel DVR plus 9 cameras with remote viewing capability

Honda Power washer

Full supply of tools, ladders, etc

Inventory of spare parts and chemicals,Roadside Marque sign