@@InvestmentJoy could probably modify a robot lawn mower for that purpose. They're made to be outside and you could take off the blade and just put a bunch of magnets under it.
I used to use a car wash in the Phoenix area years ago. My LandCruiser would be caked with mud from the mountains returning from a camping trip. Always thought the owner would be pissed how I left the bay covered in mud. She saw me washing on a Monday night and said she loved my business and how I would spend $50 to clean. She asked me to tell all my friends to bring their 4WD’s there.
I love how you’re sweeping up as you’re asking for likes and subs and talking about owning $10MM in assets. It’s a great example of how people actually build wealth by doing the dirty work and staying humble
Glad your comment went this way. I running to so many people in the comment sections that think that when you run a large business or are wealthy you stop doing these things the rest of your life
I get the feeling like this is the best investment you have shown thus far. Minimal labor costs & utilities. Reasonable startup cost. I would even think insurance wouldn't be a huge deal. Seems like car wash is a good business. Never answered how much $ it makes though lol.
You take care of your car washes and customers very well. The u upgrade on the automatic makes sense upgrade the other. Have your maintenance crew get a vac truck to clean that grate so glass and buildup does not clog your drain line underneath.
I own a carwash in not so great of a location, probably brings in a little over $2000 a month, expenses exceed the income any suggestions on how to at least break even? It's killing my pockets having to put money into this thing out of my own money to keep it running. I just bought it last year
Keep up the videos! I started two businesses on top of my 9-5. Saving my cash flow to reinvest in a car wash or laundromat. Thanks again for the motiation!
Have you ever considered making a video on budgeting? I’d love to get to where you are but I don’t even know where to start or how to prioritize my spending. Love the content though!
Re: dirty coins in vacuums. Just soak them in warm soapy water in a bucket, then pour them out on a grated surface of some kind and let them dry out before processing them.
Wait. Hold up. Did you just say $250,000 to replace your in bay automatic? Are there not less expensive options available that can still deliver reasonable quality?
50% pool chlorine bleach and 50% water in pump sprayer for the walls of the bays spray it on leave it for 5 or 10 and rinse it down would do wonders in those bays bbe like new again
Just letting you know, when me and my friend were visiting a car wash (I was paying for it cuz he was driving me all day), we came from the beach on a hot summer day, so we did walk with bare feet there, that could potentially happen
Yes, bc they are giving you a huge problem for someone coming after you. You’ll need to have a sign visible saying something like “you will be held responsible for hazardous material left from you or your vehicle” please be courteous
A lifehack: if you wanna find out how much a carwash makes in your local area, hit a few for sale places up and act as an interested buyer. Then they will have to disclose their financials to you. That's how I am able to see how much their cap rates are.
Back when we still had car washes that took quarters I've accidently fed them nickles. Some I got back, some I didn't, but none ever increased the time. Always happened when I'm rinsing the car off and the timer starts beeping at me so I'm going for the first coin in my pocket to keep it going. Followed by swearing and a quick dig for the next coin in my pocket.
you may have a really inefficient RO System. Most commercial and industrial RO Systems should be about 75% recovery. So for every 1 gallon you make of RO water you should waste about 0.33 GPM. (Again typical) - you may be able to adjust your waste to recover more water through the concentrate valves (again depending on the unit you have and how well your pre-treat is working)
I have a line on a self serve car wash, three bays and a tube. It’s been OB for years, as the owner passed, then it went to tax sale and now that person got the deed and is selling. Figure it needs a full refurb I’m guessing…. Price is low enough if I sit on it for a while I don’t care…. However my biggest concern is that it’s about 2 hours from my home and at most I could only get there’s maybe once a week, sometimes two. Would that be enough reason to walk ??
What about vacancies on the apartments? Evictions? Damage to the property from tenants? Attorney fees? Maintenance? What percentage of the income should be set aside for those?
Whats better a Carwash or a house? I already own a condo that I rent out and can’t decide if I want another or if I should get a Carwash, what do you think?
Not that easy to get a fha loan I tried with my first house not approved I had the income no issues no one would give me a loan so it's not as easy as u say it is so I did the next best best thing worked saved and paid cash for my house 24k had to fix it up as I live in it but it's mine no bank beating down my door wanting payments
The rental suggestion is called a “house hack” and it is definitely a great idea if you don’t mind roommates for at least a year. He forgot to mention the renters are paying down the loan and building your equity. Speculating on short term appreciation is what collapsed the market in 2008, and not a good idea. If you’re planning to keep the home long term, then yes you can plan on appreciation 👍
Chances are that somebody's vehicle was broken into and as usually happens there's glass everywhere. It's not unexpected that some of that would end up in your wash bay. Anybody barefoot in a car wash is an idiot. if you tried to make the process idiot proof they would only develop a better idiot.
Be a man. You dealt with the glass. Sometimes you have to go back in time 3 years and remember where you came from with the first vids. At the time you were happy with the extra savings you had with cleaning up the glass yourself.
Go after someone for washing out the bed if their truck? 😂😂.. what do you think people use car washes for?? Its like laundry mats, they are for washing what you dont want to wash in your person washer..😂😂
Don't go after the guy. That's why you go to the carwash. How many automatic car washes do you need to sell in a month to pay off the loan on a $250,000 car wash?
too bad all the billion dollar businesses already bought all the apartments and duplexes. only ones for sale for like 1million dollars and its just not worth it.
Young man, you're working too hard. Back in the day when I was your age (about 40 or 50 years ago) I rarely bought real estate with my own money. I had a way of using bank money to pay for the down payment. Or I was given real estate for free. No junk properties accepted. I also bought land contracts yielding 25% or more, usually 50%. No maintenance as the buyer took care of all repairs. My wife and I took care of all maintenance work which was usually minor due to no junk properties. There are better ways.
If you think running a car wash is only going there to collect money you are a dumbass. I’ve been in the car wash business for over 30 years. To be successful you have to be there to fix problems and take care of customers.
