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Originally Posted by ilnjscb
Yeah that is why car washes sell at 7X EBITDA - stupid to get in that game now.
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He was really lucky. At the time he bought them, some police officer owned like 3 of them and was over his head and could not keep up with them. So he got them for a song. Once he found out how much they make, he bought 2 more off another guy, and then a sixth that was in a bad neighborhood with bums sleeping in it. The place was essentially a burned out structure. He through out the bums, and completely rebuilt it. He swears by the car washed now and is trying to buy them up all around the surrounding cities.
Quote:
Originally Posted by ilnjscb
banks really mean it when thay say 20%. There will be more and more renting.
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Yep. Actually it's been like that a few years now.
Quote:
Originally Posted by ilnjscb
I've never seen a m anagement co that did repairs etc go for less than 10%
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Good info.
