Buying a mat 400 miles away

[Peroshki]

I'm fairly new to this...i figure that this board, the articles from the Journal and the book by Emerson Higdon should give me enough info to decide whether or not i should get into the business. FIRST QUESTION: is that a correct assumption? what other research would you do? SECOND QUESTION: there is a mat for sale that's 400 miles away from me, so it would be pretty much absentee...it's attended by an experienced staff (so i'm told), and it supposedly NETS $140k on GROSS of $290k...so, do numbers like that even seem possible (or realistic), and have any of you managed (especially as a first-timer) a mat so far away from home? sorry to throw so much out there but i'm anxious to get started with this...

[JamesWash]

Laundromat is every where in every town. If you cannot find a mat to buy closer to your home or less than 100 miles, then forget about this business.

[Burley]

I would say mat must be within 50 miles.......that drive could get pretty old and expensive.....especially if you are just breaking even or losing money. I guess I wouldn't mind driving 100 miles to collect $140,000 per year......that would be a treat.....I could afford to buy a nice Jag so I would be comfy and I would have a lap top at my side so I could surf the net and plan my vacations. Ahhh, the good life!

I wonder what they are asking for this place that nets $140,000. I guess it is possible. But be sure to add in the cost of the massive loan you will have to take to buy this place.

[brucehwalker]

NO! There are much funner ways of wasting your time.