The big fight.

[bodman]

I am looking at 2 mats to buy .. Mat #1 Good shape older maytag home style, it has 25 tops and 10 front loaders and enough good stack dryers. It does app 7,000 in WDF 11,000 coin . selling price 230,000 no employees staying all family members. this area is working class stiffs and concentration of hispanics. . Mat #2 is 1year old doing 10,000 wdf and 8,000 coin. asking 362,000. except for water expenses and the extra debit service expenses about same . The newer mat has little competition the closest mat is 4 to 5 miles away affluent neighborhood. I am looking at owning these for the rest of my life and passing down to my son . . Your opinions please.

[anonymous]

check the answer to your other posting.

[pete f]

Which one has the best lease? Passing it down will require a good one.
I would take the one with less w/d/f, 7k is nothing, coin sounds good. Go part time attened, remodel for bigger machines, concentrate on coin revenue. Of course you know I have no attended mats, so a mat with big w/d/f and employees is not my expetise

[TLR]

WDF numbers look very high - get documentation.

TLR

[hithere]

I am looking at 2 mats to buy .. Mat #1 Good shape older maytag home style, it has 25 tops and 10 front loaders and enough good stack dryers. It does app 7,000 in WDF 11,000 coin . selling price 230,000 no employees staying all family members. this area is working class stiffs and concentration of hispanics. . Mat #2 is 1year old doing 10,000 wdf and 8,000 coin. asking 362,000. except for water expenses and the extra debit service expenses about same . The newer mat has little competition the closest mat is 4 to 5 miles away affluent neighborhood. I am looking at owning these for the rest of my life and passing down to my son . . Your opinions please.


I am confused...
1) w/f=> 7000 means $7000/year or $7000/month, or net profit or total revenue?

2) 11000 coin=> mean $11,000/month or $11,000/year or $2750/week?

[pete f]

I am confused...
1) w/f=> 7000 means $7000/year or $7000/month, or net profit or total revenue?

2) 11000 coin=> mean $11,000/month or $11,000/year or $2750/week?

I think the WHOOPS is on me. The post was 7k a month, I delexied that to 7k a year. Still, I would go for the strongest coin rev, and the store sounds not that great, so more potential coin rev is there. 7k month w/d/f? I did $70 one month and was so happy. Then the girl quit so I got out of that, having to actually do the w/d/f order 1 day myself..

[bodman]

those numbers are a month.

[hithere]

those numbers are a month.
then the asking price is a little hire, I think their(I mean both mats) proper market value maybe around $170,000( if in MD, but not sure about FL, maybe that area multiply more than here...)

[bodman]

So hithere mats doing 18,000 per month with expenses of 11,500 including debt service net 78,000 plus principle a year is worth 170,000 (remember one mat has 200000 in new equipment.

[Silent Roo]

New equipment Might be a factor that increases your multiplier. IT IS ALL VERY subjective. I have seen guys pass on mats at 1X and seen guys jump at 5X in my mind both were worth about 2.5Xish.

Remember that 200K in new equipment is a factor not a cure all. Meaning many mats with new equipment go Broke. Many mats with old equipment go broke. Yes there will be less repairs costs (hopefully) and the pawn Value goes up however the difference is not as great as most owner guess. A mat of trash equipment is probably worth $500 a Average mat of Brand new equipment that has run is probably only worth $50,000. Think about it. Would you pay 75-80% list for a used machine... No we as a distributer would start around 25 and probably own it at 50% of list knowing they probably paid a lot less than list.

Any Asset drops far quicker than owner expect.