Converting Abandoned Car Washes into...Micro Retail Suites | Story of the Deal

[@TylerCauble]

Come hang with me, Chris, and everyone else in the CRE Accelerator mastermind: www.crecentral.com

[@JosephPaulYoutube]

Great video Tyler, good content lately. I own a co-working space that I renovated, we don't have any private offices and it was a big mistake. Hard to operate when renting by the desk. This model is great, a lot of people are looking for small private spaces.

[@TylerCauble]

Glad you liked it, Joseph! These micro-units are such a great investment - they're in high demand, you're helping small business owners, and they can be very profitable when done correctly

[@scottdatplanetsave]

The Grove is back! The Grove is back!

[@TheXavier20000]

I’ve literally never seen an abandoned car wash. Car washes are fantastic businesses. Maybe it’s different where you live but where I live this would be turning some of the best possible real estate into some of the absolute worst

[@TylerCauble]

🤣🤣🤣 that’s wild cause I’ve seen them all over the US

[@richardbinkley8487]

Ive seen abandoned ones many times....this actually gives me an idea for one of the ones in my city.

[@patrickfyall3536]

Damn. You must be aint been alive long enough 😂

[@aaronho4242]

car washes barely make even. if you get one big expense and you dont have reserves you go under. You need 15+ self serve carwashes to fire 1 full time employee to maintain them.

[@BillLaBrie]

Yeah you don’t get out much.

[@Rich_In_RealEstate]

Enjoyed the video! Educational and entertaining 🎉

[@TylerCauble]

Glad you enjoyed it! Chris made it easy with this project

[@mandysimmons2769]

Don't yell at a Nole please lol but this is a great idea. We have too many car washes up here in Tallahassee.

[@Lauraly217]

I find it confusing that he was cut up about a $7,000 plumbing bill but didn’t bat an eye when the renovation budget ballooned from $100,000-$300,000.

[@TylerCauble]

Haha it depends on the situation. Typically, when you voluntarily make a change you’re going to be more ok with the price increase than when something is sprung on you by the government 😅

[@creatinghanley]

Is anyone else asking how in the world a commercial car wash is not already tied into the public water and sewer systems?

[@christhorndike8687]

Storage warehouse didn't have water or plumbing. The Micro suites was the car wash. We had to replace the old cast iron pipes on that side.

[@erike1235]

Cool space!

[@TylerCauble]

Right?? He nailed it!

[@ttopero]

I’m curious if anyone has done similar with motor motels, leaving some as residential with others as micro retail spaces?

[@helloson870]

How much did u purchase and what cost for upgrade

[@rightright6582]

Property 400k Remodel 350k Net operating income 50k Cash on cash r 25% Yet the numbers r not well presented in the video

[@TylerCauble]

All of that is covered toward the end of the video 👊🏼

[@christhorndike8687]

@@rightright6582net operating income is $81k a year

[@christhorndike8687]

Purchase: $400k Improvements: $350k Gross Rents: $109k NOI: $75k Cashflow: $36k

[@frasertomsfilm]

​@@christhorndike8687 pardon my dumbass-ness, This is about a 10 year pay-back on your investment (self financed) but why is cashflow 1/2 of the NOI? if you outright paid for everything shouldn't those 2 numbers be equal? Unless you're servicing a loan... just dipping my toe into this stuff. I used to think a 4-5 year profit horizon was a good goal, but I guess in this case you're already there if you sold the property for a mill. I'm assuming the risk is if these types of businesses and the demand for them went to shit - THAT is your only big risk with a time horizon like yours. The other thing is (and now I'm dreaming), it would be great if cash-flow was the same as a decent job of a 100k/yr so that you know no matter what you've got nice income coming in... what a mess this post was lol

[@sixcentsmedia]

How bad was the temptation to just go wild on those poles? Epic montage missed.

[@sabby05]

7k to tie into the city sewer system! If the units across the parking lot were allready tied in. Could you not of tied into that

[@TylerCauble]

I guess you could illegally tie into your neighbor’s sewer lines but I wouldn’t recommend that 😂

[@joshmclanahan5628]

Genius …📝

[@TylerCauble]

I agree! What a cool project

[@flatearthwatertownnewyork1141]

What is going on with these businesses lol