marksman69
New member
i know this is rather vague but was wondering if anything here stands out. I am looking at purchasing a coin self serve car wash. it is 3 bays two low and one high bay. it is an older property probably built in the 80's. it is a bank repo and was shut down a winterized over a year ago. the location is a medium traffic area and competition in a few miles away. all equipment appears to be intact and vandalism free. cosmetically all it needs is a good cleaning and some weeding done. there is no water reclaimation system as far as i could see. there are two gas boilers one for water and one for slab heat. both are older. no financial statements are available and bank says it sells as is. a friend knows a previous owner and he told me it made $2000 per month on average. bank asking $150,000. anything stand out here as a red flag? what about no water reclaimation? is this a big concern? thanks to all who offer their advice.