Updated over 7 years ago on . Most recent reply
Laundromat Listing...Advice Welcomed
Today an opportunity came up that was very unexpected. I went to my realtor’s office to talk about a couple multi-family properties, and while going over them he shows me a listing for 3 laundromats. I know this is a great opportunity for me, and want to do everything in my power to make this deal work for me. So BP community, I come to you looking for guidance on my journey. Here it is, for $279,000 there are 3 laundromats, 2 of the properties are in the deal and the third has a lease for the next 5 years at $350 a MONTH!!! This business has averaged about $105,000 in income and out of that the owner has $40,000 income and a manager/maintenance man making about $30,000 a year. As of right now I’m mainly looking for ways I should go about financing this deal and presenting it to the bank in a way that will help make this all happen.
Most Popular Reply
Contact Eastern Funding.
They provide funding
PM me if you want to. I own 4 stores and I’m building a 5th