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?
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.
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.