Laundromat Resource Forums Laundromats Acquisitions and identifying true value Reply To: Acquisitions and identifying true value

Dan Vineis

    Hey Jason thanks for the input. I did have my lawyer look at the lease and we changed some verbiage around. We did make sure that I could have a qualified buyer take over the lease at anytime. Also they want to sell sometime in the next 2 to 5 years so I have first right to purchase and I must be shown any offer the building gets and I have 72 hours to match. The lease is for 3 years with two extensions. I was going to go for 5 years with two extensions but since they where planning on selling in the next few years. I focused on the language that pertained to the sale of the building. My plan is to negotiate the lease again in three years and make it longer if I already didn’t buy it by then. Do you think 3 years with two extensions is long enough to get financing? There is also a good chance I’m not replacing the machines until year 3 anyway but in case I change my mind I didn’t think about that affecting financing options.