Laundromat Resource › Forums › New Member Introductions! › New Member in Metro Atlanta!! Planning to buy 2 in 2 years! › Reply To: New Member in Metro Atlanta!! Planning to buy 2 in 2 years!
Haha. Thanks for being a good sport.
Well, I wish I had some super knowledge to share. I don’t own any ‘mats…YET. I have tried real estate investing. That can be great, but the buy in is super high, the growth is very slow, returns kinda low, and you REALLY need to vet your applicants.
Laundromats seem attractive cuz of lower buy-in, and higher % returns. Having a mentor seems like it would be great. But at the very least, it seems like you gotta be real comfortable with financial statements, not afraid to ask direct questions of the sellers/brokers, be willing to spend some good hours digging and doing forensics.
Have you had any experience? P.S. I’m in Los Angeles.