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Advise on Distance

farrk007

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Im looking to making an offer on a small 4 bay wash in my state. problem for me is that its 2plus hours away from me distance-wise. My background is in residential Real-estate but i'd love to diversify and have always wanted a carwash on my books.
Just based on Distance alone is it worth buying if its that far away from home? listing agent says there is part time "paid" help managing wash currently (someone closer to site) and if i purchased my intention is to physically be there 2 to 3 times a week. fyi If it were closer, i'd be there almost daily especially during the winter months and after its snows just to check on things. I won't be able to do this "right away" due to the fact that i'd be servicing current inventory directly local to me and won't get to the wash until all that is done.
Location is in IL. without giving out too much info, asking $$ is under 100k . R.O.I based on that is up to 14% per annum.
I'd appreciate any and all input.
Thanks
 

farrk007

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Thank you "MEP001" I've been leaning in that direction...that distance is just a bit much
 

sparkey

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I go to my washes every day. I can't imagine just going a few days a week. No one will take care of your wash and notice things that are not working properly like you would. Not to mention the countless times I get a call that something is not working and I have to rush to the wash and fix it. I thought my 35 minute drive was a bit much.
 

farrk007

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I think you're right! My initial thoughts was "it's not going to come to you, so you gotta go get it" But at 2 hrs i just can't wrap my head around that.
 

tdlconceptsllc

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A 4 bay SS is acheviable 2hrs away. However the wash would need to be bulletproof reliable fully renovated good help. If you have never been in this business I defiently wouldn't suggest it being that far for someone green and brand new to the Industry.
 
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