Recent content by SAB

Thanks to everyone that took the time to reply, I didn't mean for it to be a one and done post. I had a bunch of work come in then off to a recertification conference which hopefully will wrap up this flying season.

How populated of an area is your wash in, and how much under market value does it rent at?

I meant this to be a reply to Roberts post

I think that in this market you would be lucky to rent that apartment out for $500 a month. From the pictures, it doesn't appear to need to be rehabbed. My biggest concern is getting a deadbeat renter in that quits paying and starts to cause havoc with customers. I understand screening them...

Currently, no, it doesn't make sense to chase it. I think I could get the sales up but it would require new equipment, and better signage, which I know is not cheap. The numbers indicate about a 1/3 of a percent capture rate, which seems to be on the low side from the numbers I've seen...

Thats interesting about an apartment being required. I'm not trying to mysterious about the location, but I don't believe the land value to be the main portion of the price nor increase drastically any time soon. The wash sits on approx. 1/3 of an acre. There is 18 acres for sale down the road...

I was lead to think that the 90K was reported, but that there might be more. My thought on this wash would be to do a master lease for two years so improvements could be made and reported income increased. That would be contingent on getting the purchase price in the right realm.

Hello everyone, I am currently looking at a wash that has a 2 bed 2 bath apartment above it, I don't feel this adds any value to the wash. I am curious what others in the industry think. Details on the wash are as follows Asking price $650,000. Days on market 784 Built 1998 Gross 90,000...