Laundry Mat as a Real Estate Investment

[Zion R.E.S.]

I was wondering if anyone on this board owns or has owned a laundry mat as a real estate investment.  If so, how is/was the cash flow?  Does anyone think this is a good or bad idea to pursue?

[WilsonTaylor]

I can't answer you directly because I have never owned a laundromat, but I have a friend that had one at one time.  From what I saw, there was pretty good cash flow, but it was a lot of work to keep the machines going.  If you have the mechanical ability to do the work yourself, and want a part time job, it might be worthwhile.  Of course it depends on the location.

Wilson

[Malone]

Can't say I've ever owned one but I've definitely thought about it a great deal. I know of four laundromats within five minutes of my house, and they always have people in them.