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Looking to buy my first wash

Etowah

Should I buy?


  • Total voters
    6
  • Poll closed .

eckert16

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Those storage units to the South/rear, they access thru your parking lot, you'll need to make sure you can stop that by putting in a fence, and force them to use the public right of way to the dirt road on the East that is on surveys instead of driving thru your lot (unless it was included in a deed)... (unless of course the storage units are providing some service as a barter, you'll be plowing their 'driveway' for free)...lawyer expense.

....per the county it was sold in 11/17/1999 for $400,000; then again by Keller Williams on 2/6/2006 for $154,054...and a $395,000 mortgage taken out in 2006...when you have time, you'll research records online on sites like:

realestate.crawford-co.org/re-hst.php?account=190026595000&rec=4

countyfusion7.kofiletech.us/countyweb/disclaimer.do
 

TheMageLives

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Those storage units to the South/rear, they access thru your parking lot, you'll need to make sure you can stop that by putting in a fence, and force them to use the public right of way to the dirt road on the East that is on surveys instead of driving thru your lot (unless it was included in a deed)... (unless of course the storage units are providing some service as a barter, you'll be plowing their 'driveway' for free)...lawyer expense.

....per the county it was sold in 11/17/1999 for $400,000; then again by Keller Williams on 2/6/2006 for $154,054...and a $395,000 mortgage taken out in 2006...when you have time, you'll research records online on sites like:

realestate.crawford-co.org/re-hst.php?account=190026595000&rec=4

countyfusion7.kofiletech.us/countyweb/disclaimer.do
Thanks for the information I just hadn't gotten to it yet. From what the realtor said when they sold the storage units in the back there was an easement made requiring the car wash to give access to the storage units. But I have to look into that and he was going to get me more information about it for Saturday
 

TheMageLives

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So little bit of an update. Last night I got a call from the lady who owns the shutdown mermaid car wash in the same town. She said her car wash will be going on the market next month, but warned me that everything in the building will need to be replaced. I could be wrong but having 2 self serve car washes for sale in the same town isn't good but it gives more leverage when negotiating with the guys I've been talking too
 

Eric H

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Sarcasm here but steal parts from one to fix the other lol
I don't know how I've missed this thread but just found it.
I don't think you'll be stealing parts from much of anything. This property would be a good project for some of the veterans here. It is NOT a good project to cut your teeth on as a newbie, IMO. You'll need A LOT of hand holding and time invested. If you have a full time job 49 miles away I don't think you'll have enough hours in the day.
SS bays are a pain in the A$$. IBA's are where the money is. If you can get this place for $100k with a rehab loan (for a new IBS) you might be able to make something work.
Tell us about this other potential property...
 

TheMageLives

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I don't know how I've missed this thread but just found it.
I don't think you'll be stealing parts from much of anything. This property would be a good project for some of the veterans here. It is NOT a good project to cut your teeth on as a newbie, IMO. You'll need A LOT of hand holding and time invested. If you have a full time job 49 miles away I don't think you'll have enough hours in the day.
SS bays are a pain in the A$$. IBA's are where the money is. If you can get this place for $100k with a rehab loan (for a new IBS) you might be able to make something work.
Tell us about this other potential property...
Won't be able to get it for 100k since there's a mortgage on it already for $210k

The other property is 380 N East St, Galion, OH 44833 but it's in worse shape been closed for awhile since the city made them take out some underground tanks.
 

MEP001

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Won't be able to get it for 100k since there's a mortgage on it already for $210k
Maybe the owner will consider letting you take over the payments so they can just get out from under the debt. You're right, they won't be able to sell it for what they owe, but if it's really breaking even you should be able to make it profitable for minimal cost and work and slowly build it up over a couple years where you can save up for an investment in some upgrades (or get a loan if your credit is good).
 

TheMageLives

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I don't know how I've missed this thread but just found it.
I don't think you'll be stealing parts from much of anything. This property would be a good project for some of the veterans here. It is NOT a good project to cut your teeth on as a newbie, IMO. You'll need A LOT of hand holding and time invested. If you have a full time job 49 miles away I don't think you'll have enough hours in the day.
SS bays are a pain in the A$$. IBA's are where the money is. If you can get this place for $100k with a rehab loan (for a new IBS) you might be able to make something work.
Tell us about this other potential property...
Something is very off about it. he bought it in december did some "Upgrades" from lighting, to a Full Mural from a local artist.... Realtor says the owner has no info from the previous owner for sales numbers etc. but since this wash and another one on the other side of town are owned by this trustee I'd say the owner passed away.

FYI ignore the junk in my car i need to clean it out lmao

Owner- METALLINOS JACK TRUSTEE

 

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